SoFi Technologies in San Francisco plans to raise $1.5 billion through a public offering. The lending fintech said in a press release that it will let underwriters sell an additional 15% of shares if there is enough demand, which would boost the offering's proceeds by $225 million. SoFi plan to use the proceeds for general corporate purposes, such as enhancing its capital position, increasing optionality and enabling further efficiency of

Kobalt Labs has raised $11 million in a Series A funding round. The fintech, which uses AI to automate and strengthen risk and compliance workflows at financial institutions, said in an announcement that the funding round was led by Ali Rowghani at First Harmonic. Alloy Labs and Y Combinator also participated in the round.

Nuuvia, a credit union service organization (CUSO) that is building a youth banking and intelligent lifecycle banking platform, raised $4 million. VyStar Credit Union and Desert Financial Credit Union were the investors; each will appoint representatives to the CUSO's board and product technology and innovation council. “Creating meaningful partnerships with institutions like VyStar Credit Union and Desert Financial Credit Union is central to our vision of redefining the future of

Delfi, an AI-native risk management platform, and CFO Consulting Partners, a firm of former finance executives, have launched an offering to help banks and credit unions improve balance-sheet discipline. The partnership reflects a growing industry trend, where institutions are seeking faster, clearer analytics paired with experienced guidance. The partnership combines Delfi’s real-time analytics platform with up to five hours of tailored financial advice from CFOCP’s senior team. Institutions can also

A group of former Signature Bank executives has launched a blockchain-based bank to offer instant payments. Scott Shay, Signature's former chairman, is one of the founders of N3XT, along with Jeffrey Wallis, who was the New York bank's director of digital asset and Web3 strategy. The other founders are Aurélien Bonnel and Kyle O’Donnell. Wallis is the bank's president and CEO. N3XT will operate under a Wyoming special-purpose bank charter.

FirstSun Capital Bancorp plans to add a representative from Castle Creek Capital Partners to its board after the investment group bought stock from another one of the Denver company's investors. Castle Creek said in a press release that it purchased $40 million of FirstSun common stock, adding that it now has a 4% stake in the company. Spencer Cohn is expected to join FirstSun’s board when the company buys First

South Plains Financial in Lubbock, Texas, has agreed to buy BOH Holdings in Houston. The $4.8 billion-asset South Plains said in a press release that it will pay $105.9 million in stock for the parent of the $772 million-asset Bank of Houston. The deal, which is expected to close in the second quarter, priced BOH at 143% of its tangible common equity. Bank of Houston has $633 million in loans

Midland States Bancorp in Effingham, Ill., has sold substantially all of its equipment finance portfolio to an affiliate of North Mill Equipment Finance. The $6.9 billion-asset Midland States said in a press release that NMEF paid $502 million in cash for the portfolio, which included about $599 million in loans and leases and $21 million of operating leases. The deal excludes about $75 million of loans and leases that Midland