Fintech companies can face a variety of regulatory challenges under the federal securities laws, including one that often receives minimal attention, namely a company’s status as an “investment company” under the US Investment Company Act of 1940 (the “1940 Act”). Fintech companies that possibly meet the threshold definition of “investment company” under the 1940 Act,

Funding in the fintech sector increased 17% quarter-over-quarter, after two quarters of declines, to $9.3 billion according to CB Insights’ recent State of Fintech report. Despite the funding increase, the number of deals continued to decline globally, continuing the decline since the fourth quarter of 2019. In the second quarter of 2020, 397 global venture-backed

CBInsights recently published its Global Fintech Report for the third quarter of 2019. For 2019, global fintech funding totaled $24.6 billion through the third quarter of 2019, which is still a decline from 2018. Global venture-backed fintech deals rebounded during the quarter in the United States but remain at a three-year low. Globally there are

CBInsights recently held a webcast that offered a recap of 2018 events affecting the fintech sector. Global fintech investment reached a record at $39 billion in 2018. Venture-backed fintech deals declined in the fourth quarter of 2018 but remain high compared to historic levels. Early stage fintech deal share declined compared to 2017. There are

The number of small businesses in the United States continues to climb, according to a recent CB Insights report. In 2015, there were approximately 31.9 million small businesses in the United States. There are now an estimated 39.9 million small businesses, with a projected 2.6 million additional firms expected by 2020. Defined as firms with

According to a recent research report by CB Insights, in the third-quarter of 2018, there were 375 VC-backed equity financings that raised over $5.64 billion for fintech companies globally. In total, 1,164 fintech financings have been completed in 2018, through October 31, raising over $32.6 billion in offering proceeds.  Approximately 40% (462) of these deals