Mortgage Blog

Female Founders Fund (F3) has closed its sophomore fund.

The New York-based venture group amassed $27 million — five times the size of the first fund.

In addition to closing a new fund, the seed stage venture fund touted its dedication to women entrepreneurs by unveiling a “Who's Who” list of women who have backed the fund.

F3 brought in eight strategic institutional partners to support the firm's work going forward, including investor Melinda Gates, the co-chair of the Bill & Melinda Gates…

Robinhood Markets Inc. on Thursday said it has raised $363 million in new funding to help it expand beyond its no-fee stock trading roots to become a full-fledged consumer finance company.

The valuation of the business, which moved its headquarters from Palo Alto to Menlo Park this year, soared more than fourfold to $5.6 billion in the Series D round. The latest funding comes about a year after Robinhood was valued at $1.3 billion in a Series C round.

The funding was led by Russian oligarch Yuri…

Following the announcement of Penny Pennington as the next managing partner of Edward Jones, she and current Managing Partner Jim Weddle talked to the Business Journal.

Most corporate offices look like they could be plopped into any metropolitan area, but step inside PWC’s new Austin headquarters and it’s obvious you’re in the Texas capital. The veins of a city-street map are painted on a wall mural, drumsticks and guitars adorn meeting room surfaces and a readerboard inspired by the often-quoted El Arroyo’s restaurant parking lot sign greets visitors at the entrance.

For the financial heavyweight’s new digs inside Shoal Creek Walk on West Sixth Street,…

2017 revenue: $259.9 million

+13.8%

Revenue at FB Corp., formerly First Banks Inc., increased nearly 14 percent, driven by all major segments, most notably a 13.7 percent increase in wealth management.

“We increased our pre-tax income by 22.3 percent over 2016 as a result of substantial revenue growth and our ability to control expenses,” President and CEO Tim Lathe said.

The holding company, owned by the Jim Dierberg family, changed its name to avoid confusion with its First Bank subsidiary.

Executive…

2017 revenue: $319.4 million

+58%

Clearent, a credit card processor, continued years of rapid growth in 2017, increasing revenue 58 percent in 2017.

“The change in revenue between 2016 to 2017 was driven by acquisitions and strong organic growth,” CEO Dan Geraty said. “We anticipate to continue this trend through 2018 and anticipate additional growth and increase in revenue.” Clearent has made the Inc. 5000 list of fastest-growing companies for six straight years.

The company acquired…

Startups seeking capital outnumbered five to one by VCs, other investors.

Fifth Third Bancorp’s Fifth Third Securities Inc. investment brokerage unit has agreed to pay a $4 million fine levied by a regulatory body for rules violations related to its sale of investment products.

The Financial Industry Regulatory Authority, a self-regulating governing body for the investment brokerage industry, levied the fine on Tuesday after Fifth Third (Nasdaq: FITB), the nation’s 13th biggest bank, agreed to that fine and other sanctions. Fifth Third also agreed to pay about $2…

Procter & Gamble Co. has launched a tender offer to buy back up to $1.25 billion in debt.

Downtown Cincinnati-based consumer products giant P&G’s offer includes 11 different series of debt securities, including two monetized in British pounds and two in euros, according to a news release. The securities’ maturity date ranges from 2020 to 2037.

The offering includes about $260 million in debt that carries interest rates of 8 percent or higher. That’s higher than P&G (NYSE: PG) would have…

The nation’s largest banks — such as JPMorgan Chase & Co. (NYSE: JPM), Bank of America Corp. (NYSE: BAC), Wells Fargo & Co. (NYSE: WFC), Citigroup Inc. (NYSE: C), Goldman Sachs Group Inc. (NYSE: GS) and Morgan Stanley (NYSE: MS) — have operations around the country. Here are other recent stories reported by The Business Journals.

Wells Fargo & Co.’s legal tab keeps blowing up. On Friday, the embattled bank agreed to pay $480 million to resolve a class action lawsuit brought by investors…