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Brazilian fintech QI Tech lands $200M led by General Atlantic

Brazilian banking-as-a-service startup QI Tech has raised $200 million in a Series B round of funding led by New York-based General Atlantic. The raise is believed to be the largest in Brazil —

a16z-backed fintech Synapse lays off 40% of its staff

Banking-as-a-service startup Synapse confirmed today that it has laid off 86 people, or about 40% of the company. The San Francisco-based company, which operates a platform enabling banks and fintech

Fintech is a mess. Is BaaS the outlier?

Banking-as-a-service involves a lot of facets and can be quite confusing, so we spoke to some experts who could make sense of it all.

Nymbus lands $70M to help banks digitally transform

Nymbus, a startup that partners with banks to migrate their legacy stack and launch neobanks to attract new customers, today announced that it raised $70 million in a Series D round led by Insight Par

Banking-as-a-service startup Unit closes on $100M at a $1.2B valuation

Unit, a banking-as-a-service startup, has closed on a $100 million Series C round of funding led by Insight Partners. Existing backers Accel, Better Tomorrow Ventures and Flourish Ventures also partic

Fintech NovoPayment raises first venture round in 15 years to expand its full-stack banking API platform

The digital transformation of banking and payments services is a red-hot trend that’s shown no signs of slowing down. Banking-as-a-service (BaaS) products like Synapse, Unit and Bond have helpe

Fintech Roundup: Goldman Sachs buys another startup, Fast hits a speed bump and BaaS gets hotter

Welcome to my weekly fintech-focused column. I’ll be publishing this every Sunday, so in between posts, be sure to listen to the Equity podcast and hear Alex Wilhelm, Natasha Mascarenhas and me riff

Kenya’s fintech Kwara lands $4 Million in seed round from Breega, SoftBank to build neobank for credit unions

The Kenyan fintech Kwara was launched in 2019 to help credit unions (savings and credit cooperatives societies, SACCOs) in the East African country shift to digital platforms by providing them with it

Jiko announces partnership to launch a banking app for the transgender community

Jiko, a fintech startup that uses customer deposits to purchase short-term treasury bills, announced its first banking-as-a-service (BaaS) client today. It will partner with Euphoria, a technology sui

Tiger Global leads $25M investment into Swap, which aims to be ‘LatAm’s fintech factory’

Swap, a São Paulo-based BaaS startup, announced today it has raised $25 million in a Series A led by Tiger Global Management. The financing was “heavily oversubscribed,” according to the company,

Inside Plaid’s plans to build a new, global finance network

When Visa announced plans to purchase Plaid for $5.3 billion in January 2020, the deal represented one of the largest acquisitions of a fintech upstart by an incumbent financial powerhouse. But 12 mon

BaaS served three ways: A closer look at a rapidly evolving market

There's no one-size-fits-all solution, but having a better understanding of how BaaS providers position themselves between banks and fintechs can help potential customers determine which model is best

TechCrunch+ roundup: Palihapitiya on SPACs, inside Rivian’s IPO, BaaS pros talk shop

I have worked in startups for more than half of my life, and for most of that time, I was the only Black person in the room. As a result, the lack of representation in tech isn’t abstract to me. Bes

Fintech startup Jeeves raises $57M, goes from YC to $500M valuation in one year

Last summer, Jeeves was participating in Y Combinator’s summer batch as a fledgling fintech. This June, the startup emerged from stealth with $31 million in equity and $100 million in debt financing

The New Mobile-Cloud Enterprise

Enterprise IT is undergoing a platform shift from web-based, client-server systems to a mobile-cloud platform. This shift has caught the attention of all the major tech vendors who have either acquire

GoInstant’s Next Chapter Is A Developer Platform For The “Multiplayer Web”

<a target="_blank" href="http://goinsant.com">GoInstant</a>, the startup that Salesforce.com bought for <a href="https://techcrunch.com/2012/07/09/salesforce-com-reported-to-buy-goinstant-for-70-milli

AppScale Launches As An Open-Source Backup Equivalent To Google App Engine

Startup <a target="_blank" href="http://appscale.com">AppScale</a> has launched its open-source backup up service for Google App Engine (GAE), which is compatible with standard cloud services that d

Rackspace Rolls Out Its Mobile Plan As Vendors Get Giddy About Backend Data Pipes And Spigots

Suddenly all this backend stuff is hot. Who would have ever thought that data pipes and the spigots would get so much attention? Salesforce is getting into the game and now so is Rackspace with the l