Moven to receive $23M from SoftBank, plans to buy bank

Moven, the mobile-first “neobank” founded by Brett King in 2011, is getting a $23 million infusion from the Japanese company SBI Group, owner of SoftBank. At the same time, Moven says it is pursuing the acquisition of a bank. SBI Group will hold one of the six seats on Moven’s board, and the two companies will set up a joint venture in Japan.

Source: Moven to receive $23M from SoftBank, plans to buy bank