FINANCE

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

Credit Key Raises $33 Million for Business Commerce Financing

West Los Angeles-based B2B e-commerce platform Credit Key has raised $33.85 million in series A capital.

Salon Software Platform Boulevard Raises $27 Million

West Hollywood-based salon and spa software platform Boulevard Labs Inc. has raised $27 million in Series B funding.

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HM Bradley Raises $18 Million for Savings-Focused Banking

HMBradley Inc., a Santa Monica-based fintech company focused on banking services, has raised $18.3 million in Series A funding.

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How LA Wealth Managers Are Handling the Wealthiest’s Portfolios During the Pandemic

While the pandemic’s economic impact has been devastating for some Angelenos, most of L.A.’s well-heeled have been relatively insulated from the financial fallout.

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‘Dr. Betty’ Returns to Banking

Betty Uribe is just over one month into her term as JPMorgan Chase & Co.’s California consumer bank divisional director, overseeing JPMorgan’s entire California retail bank network.

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Quid Capital Raises $320 Million for Pre-IPO Lending

Santa Monica-based Quid Capital Group has raised a $320 million fund to lend against private technology company stocks.

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Lido Advisors Leads Deal for $700 Million Fixed-Income Team

Century City-based Lido Advisors and Oakhurst Advisors as well as Washington, D.C.-based F/m Acceleration have completed the purchase of First Western Capital Management Co.’s fixed-income business.

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Ashton Kutcher’s Sound Ventures Looks to Raise New Fund

Sound Ventures, a Beverly Hills-based venture firm founded by Ashton Kutcher and Guy Oseary, is looking to raise $150 million.

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Economists Uncertain How New Restrictions Could Impact Jobs Recovery

L.A. County’s unemployment rate fell sharply to 12.3% in October amid a gain of 79,000 payroll jobs, according to state figures.

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TCW Group Sets $160 Million CLO Platform

Downtown-based TCW Group Inc. has entered into a partnership with investment bank Jefferies Group and credit manager Kennedy Lewis Investment Management to issue new collateralized loan obligations, or CLOs.

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Brace Software Brings a Fresh Approach to Mortgage Servicing

Brace Software Inc. could not have been better positioned for Covid-19.

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Clearlake Sets $3 Billion Buyout of Endurance International

Santa Monica-based private equity firm Clearlake Capital Partners plans to buy cloud-based business services company Endurance International Group Holdings Inc. in an all-cash deal valued at $3 billion, including debt.

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Mitú Founder Starts Personal Finance Platform for Latinos

Beatríz Acevedo, founder of downtown-based Latino youth media company Mitú, has launched personal finance platform Suma Wealth Inc.

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MedMen Secures $26 Million in Loans

Culver City-based cannabis retailer MedMen Enterprises Inc. has raised $25.7 million in debt across three loan facilities.

Scratchpay Brings Fintech to Pet Care

Scratch Financial Inc., better known as Scratchpay, has had breakout success in a remarkably niche business.

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