Janover’s 123% Leap and Robinhood’s Upgrades Lead FinTech IPO Index Higher

The first few trading days of 2025 saw the FinTech IPO Index log a 1.2% gain — where one notable triple-digit surge led the pack. Overall, however, a spate of declining names blunted the momentum of the Index as a whole.

Janover Leads the Pack

Janover’s stock soared 123%. The company effected a one-for-eight reverse stock split, which bolstered its gains. The move was made in order to maintain compliance with NASDAQ listing requirements.

In as separate announcement, the company said that it would begin accepting payments in bitcoin, ethereum and solana for select services, a move Janover said was “underscoring the company’s commitment to innovation within evolving market trends. This decision aligns with the increasing support for digital assets on both a domestic policy level and within broader financial markets, as seen in notable corporate strategies to leverage certain cryptocurrencies for long-term value creation.”

Robinhood’s stock was 9.5% higher. As noted by sites such as Investors.com, JPMorgan upgraded Robinhood to neutral from underweight. Yahoo Finance excerpted the note, which mentioned that “our upgrade comes on a still constructive investment environment, a higher-for-longer interest rate environment and a more credible ability to better monetize its customer base,” per the commentary from JPMorgan analyst Ken Worthington. “Ultimately, we think Robinhood has made notable progress in legitimizing its operations vs. its primary reliance on meme-stock trading three years prior.”

Several Names Declined

Upstart shares slipped 3.8%.

As reported this week, Sandia Area Federal Credit Union, a credit union based in New Mexico with nearly 90,000 members and over $1.2 billion in assets, has announced its partnership with Upstart to offer personal loans to more consumers. Sandia Area started lending as a partner on the Upstart Referral Network last year. As noted n the release, with the Upstart Referral Network, qualified personal loan applicants on Upstart.com who meet Sandia Area’s credit policies will receive tailored offers as they seamlessly transition into a Sandia Area-branded experience to complete the online member application and closing process.

Riskified’s stock was off a slight 0.4%. In an announcement this week, the company announced a partnership with Ixopay to enhance payments orchestration, as the partnership will help eCommerce customers expand securely, through the leveraging of omnichannel payment orchestration with artificial intelligence-powered (AI) fraud detection. The companies said that the partnership combines Ixopay’s payment orchestration, tokenization and flexible payment optimization capabilities with Riskified’s AI-powered fraud and risk intelligence platform.

“Businesses using this combined solution will have the opportunity to increase sales conversion by reducing false declines, enhance security to minimize fraud chargebacks, and optimize payment flows for a frictionless customer payment experience-enabling merchant growth while minimizing risk,” the companies said in the announcement.

Open Lending shares were 8.5% lower.

The company had said last month that it entered into an agreement with an unnamed “captive finance company of a premier automaker” to begin utilizing Open Lending’s flagship Lenders Protection program. The agreement will enable Open Lending’s newest OEM partner to access more near- and non-prime consumers with automated decisioning and default insurance coverage.