Browse the latest news about financial technology and fintech startups in Southern California from dot.LA.

iTrustCapital—a Long Beach-based trading platform that allows investors to buy cryptocurrencies, gold and silver through their retirement accounts—is Southern California’s newest tech unicorn after raising $125 million in a Series A funding round.

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Investing app Acorns has pulled the plug on its plan to go public through a $2.2 billion SPAC deal with blank-check company Pioneer Merger Corp.

Noah Kerner, CEO of Irvine-based Acorns, blamed “market conditions” for the canned merger, and said the company would instead pivot to a “private capital raise at a higher pre-money valuation,” per a Reuters report.

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Asenso Finance, a fintech startup trying to make it easier for small businesses to receive loans from community banks and financial institutions, is looking to raise $1 million in a new crowdfunding campaign.

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