Fintech

Akros Technologies, an AI-powered asset management platform, raises funding from Z Holdings

Artificial intelligence is taking over almost every industry. The investment and finance industry is no exception. In Deloitte’s 2019 report, the firm reveals that AI is transforming the financi

Ocho wants to rethink (and rebrand) personal finance for business owners

When Ankur Nagpal sold Teachable for a quarter of a billion dollars, he felt lucky. Then, he quickly felt lost when trying to navigate the financial systems of a country he wasn’t born in and le

India’s Paytm considers buying back shares following a rough year

Indian financial services firm Paytm said Thursday evening it is considering repurchasing its shares, following a tremulous year that has seen its stock price fall by over 60%. Paytm said it will disc

TripActions secures $400M in credit facilities from Goldman Sachs, SVB

Less than two months after announcing a new $9.2 billion valuation, TripActions said today it has secured $400 million in credit facilities from Goldman Sachs and Silicon Valley Bank (SVB).  Specific

Andreessen Horowitz leads $43M Series A for Setpoint, which aims to be the ‘Stripe for credit’

Setpoint, a startup that has built software to help other companies close loan transactions faster, has raised $43 million in a Series A round led by Andreessen Horowitz (a16z). The raise comes just s

Plaid lays off 20% of staff

Fintech decacorn Plaid is laying off 260 employees, or about 20% of its workforce, the company announced today. While specific details around who exactly was affected remain unknown, sources in recent

African credit-led fintech Finclusion raises additional capital amidst rebrand

African credit-led neobank Finclusion Group has raised an additional $2 million in equity financing as it officially rebrands to Fin, the company said in a statement shared with TechCrunch.  The news

FTX marked down Chipper Cash’s $2B valuation to $1.25B

African fintech Chipper Cash saw its valuation slashed from $2 billion to $1.25 billion before FTX’s bankruptcy, according to documents shared by the Financial Times on Alameda’s venture c

Fintech unicorn valuations have fallen hard in 2022

While most fintech unicorns are still garnering impressive valuations, the sector's hype from last year has started to fade.

Robinhood banks on retirement to slow user attrition

SBM Bank India, building BaaS platform, seeks funding at $200 million valuation

The Indian arm of SBM Bank, one of the banks that has aggressively worked with fintech startups in the South Asian market, is engaging with investors to raise capital and pitching the vision of becomi

When a startup’s founders are pretty much its board

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LastPass hacked, OpenAI opens access to ChatGPT, and Kanye gets suspended from Twitter (again)

Aaaaand we’re back! With our Thanksgiving mini-hiatus behind us, it’s time for another edition of Week in Review — the newsletter where we quickly wrap up the most read TechCrunch storie

When one door closes … Opendoor CEO Eric Wu steps down, CFO Carrie Wheeler steps in as new chief executive

Opendoor co-founder Eric Wu announced today that he is stepping down from his role as CEO of the real estate technology company and that Carrie Wheeler will be taking over as chief executive. In a blo

India’s KreditBee raises $80 million from Azim Premji’s Premji Invest, Motilal Oswal Alternates, among others

The digital loans business in India has been the subject of a lot of controversy, not least for over-predatory and un-transparent practices, yet that’s existed alongside the rise of a handful of

India won’t enforce payments market share cap until 2025 in win for Google and Walmart

India won’t enforce a check on the market share for players operating on the homegrown payments network until December 31, 2024 in a surprising extension to the deadline that analysts say is a m

X1 gets 50% valuation boost, aims to give consumers a way to buy stocks via credit card reward points

X1, a consumer fintech startup which recently launched an income-based credit card to the public, has raised an additional $15 million in funding.  This round caught our attention for a few reasons.

SBF claims massive ignorance on obvious conflicts in FTX downfall

“I didn’t ever try to commit fraud on anyone, I was shocked by what happened this month,” Sam Bankman-Fried (SBF), the founder and former chief executive of the fallen FTX, said at The New York

CRED acquires CreditVidya

CRED is acquiring CreditVidya, a SaaS startup that helps firms underwrite first-time borrowers, in the latest of a series of investments from the Bengaluru-headquartered fintech as it broadens its inf

As Pipe’s founding team departs, tensions rise over allegations

On November 22, alternative financing startup Pipe announced that its three co-founders were stepping down from their executive roles and that a search for a new, “veteran” CEO had commenced. In a
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