Silicon Valley Bank (SVB)

Financial services professionals discuss what’s next for embedded finance and BaaS.

Both banks laid off around 500 employees last week, according to media reports.

The deal includes the purchase of assets of $110bn, deposits of $56bn and $72bn of SVB’s loans.

The pre-Series C investment funds will be used to develop and expand its RTP platform.

The investment brings the fintech’s total funding raised to $40 million.