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Recent and archived news stories on: banks, credit unions, mortgage lenders, SBA lenders, stocks/bonds, venture capital, wealth management, investment banks, factors, money managers, economic news and financial sector news

Fitness App Maker Zwift Secures $450 Million in Funding

Zwift Inc., the Long Beach-based maker of a popular at-home cycling and running app, has raised $450 million in Series C funding.

SPAC Attack: Investment Vehicles See Surge in Popularity

Special purpose acquisition companies, or SPACs, are in the midst of their biggest moment yet.

Local Credit Unions Offer Relief From Financial Storm

When the novel coronavirus pandemic first took hold in California, the state’s credit unions acted quickly.

L.A. County Unemployment Falls in August

L.A. County’s unemployment rate fell to 16.1% in August from a revised 17.9% in July.

Mesa West Capital Is Poised to Thrive Amid Pandemic

Having survived one major recession and seen long-term growth in its wake, Mesa West Capital believes the aftermath of Covid-19 could create similar opportunities in their space.

Broadway Financial Merger Makes History

Hancock Park-based Broadway Financial Corp. is set to become the largest Black-led bank in American history.

Inglewood Bitcoin Firm to Expand In-Person Centers

After months of webinars and Zoom meetings, Crypto Blockchain Plug Inc. is coming back to the physical world.

Flying Eagle Sets Deal for Mobile Gaming Company Skillz

Flying Eagle Acquisition Corp., a Century City-based special purpose acquisition company, or SPAC, plans to merge with mobile gaming platform Skillz Inc.

Bonfire Ventures Raises New $100 Million Fund

Santa Monica-based Bonfire Ventures, which focuses on investments in business-to-business software companies, has raised $100 million for its second venture fund.

Upfront Backs Glendale Cloud Security Firm

Cybersecurity company Britive Inc. has raised $5.4 million in late seed stage funding.

Colony Capital Issues $113 Million Repurchase Offer

Downtown-based real estate investment company Colony Capital has offered to repurchase any or all of its outstanding 3.875% convertible senior notes due in 2021.

Entertainment Payroll Startup Wrapbook Raises $4 Million

Entertainment payroll and insurance platform TakeOne Network Corp., doing business as Wrapbook, has raised $3.6 million in seed funding.

Film Tax Credit Programs Face Uncertain Future

Lending against California’s film tax credits has emerged as a niche industry in recent years. Some industry insiders say this practice will thrive, but others predict the film tax credit space may be in for rough times ahead.