JPMorgan Chase announced it agreed to buy payments fintech startup Renovite, hoping it will contribute to its merchants. This is yet another acquisition of this kind since the company started buying startups approximately two years ago.
JPMorgan's CEO Jamie Dimon is reportedly raising awareness about how important it is to pay attention to fintech firms due to their threat to banks, as Stripe and Block, according to CNBC, are becoming increasingly popular. More details on the deal have not yet been disclosed.
The company's shares traded flat in after-hours trading following the release of the latest information.
