With inflation sparking an increase in the cost of repairs, labor and claims, fees for insurance are similarly spiking across the board. Car insurance premiums rose 13.7% nationally over the past year, according to a study from Bankrate.com. Home insurance, meanwhile, climbed 12.1% year-on-year, Policygenius found. But Jonathan Matus argues that it doesn’t have to be that way. He’s the founder of Fairmatic, a company that’s applying AI to — at least according to him — reduce risk in the car...

Method, a startup that aims to make it easier for fintech developers to embed repayment, balance transfers and bill pay automation into their apps, today announced that it closed a $16 million Series A funding round led by Andreessen Horowitz, with participation from Truist Ventures, Y Combinator (Method’s a Y Combinator graduate), Abstract Ventures, SV Angel and others. Co-founder Mit Shah says that the new cash will be put toward product development and growing the company’s headcount from...

People are addicted to credit cards — and it’s no wonder, given the lucrative rewards that many of them offer. But for merchants, credit cards tend to be less appealing. That’s because they’re on the hook for interchange fees, or transaction fees a merchant’s bank must pay whenever a customer uses a card to make a purchase. Some interchange fees can exceed 3%. That got Eric Shoykhet and Edward Lando thinking. The two entrepreneurs — friends since their first day as Wharton undergraduates —...