Fintech
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Stripe’s growth continues to impress as total payment volume tops $1 trillion
The company says it was cash flow positive in 2023, and plans to be again in 2024. With $8.7 billion in venture capital it likely means it has little to no need to raise more before it goes public.
‘Banking-as-a-Service’ startup Griffin raises $24M as it attains full banking license
Founded by former Silicon Valley engineers, UK-based Griffin Bank, has now raised $24 million (£19 million) in a fresh, extended Series A, funding round.
Welcome to TechCrunch Fintech (formerly The Interchange)! This week, we’re looking at the piping hot global payroll space, neobank Dave’s financial results and related stock boost, and more! To get…
While many entrepreneurs are currently facing the harsh reality of a VC funding crunch, Qonto isn’t one of them. The Paris-based business banking startup still has hundreds of millions of…
Harness Wealth wants to bring sophisticated tax planning to the masses
Harness Wealth, which started in 2018 primarily offering financial advice to startup founders and employees, has expanded into the tax advisory space and raised a $17 million extension to its…
Monzo, the UK challenger bank with 9 million customers, raises $430 million
London-based fintech company Monzo raised a late-stage funding round of $430 million (£340 million), confirming a report from the Financial Times from a few weeks ago. Following this round, the…
2-year-old LatAm fintech Yuno reaches $150M valuation with backing from DST Global Partners, Tiger, a16z
The company launched its payments orchestration product in 2022 and provides over 300 payment methods with fraud-detection capabilities, one-click checkout and advanced smart routing technology.
Welcome to TechCrunch Fintech (formerly The Interchange)! Apologies for being out last week — a cold got the best of me, but I’m back and here to talk about the…
Fintech giant Stripe’s valuation spikes to $65B in employee stock-sale deal
Payments infrastructure giant Stripe said today it has inked deals with investors to provide liquidity to current and former employees through a tender offer at a $65 billion valuation. Notably,…
Spain’s Embat, which has raised $16M, plans to compete with Trovata in real-time accounting
For obvious reasons, financial teams can spend a great deal of time on corporate treasury management, accounting and bank reconciliation, so anything that speeds up that process usually garners a…
Grifin’s new model can automatically invest your money as you shop
Investing app Grifin today officially launched its anticipated investing model called “Adaptive Investing,” which enables you to automatically invest in your favorite brands that you frequently shop from. Grifin was…
PayPal Ventures’ first AI investment, a credit-based dating app and Robinhood’s good week
Welcome to TechCrunch Fintech (formerly The Interchange)! This week, we’re looking at a new finance-based dating app, Robinhood’s earnings results and the startup in which PayPal Ventures made its first…
Cash App takes on Apple with a 4.5% APY for savings accounts (with direct deposit)
Apple’s recent move to boost the interest rate for its Apple Card Savings Account to 4.5% is now prompting a competitor to do the same. Cash App today announced it…
YC-backed Cambio puts AI bots on the phone to negotiate debt, talk to a bank’s customers
A Y Combinator-backed startup called Cambio is bringing AI to the banking world in a surprising way: It’s putting AI bots on the phone with companies and consumers. The startup…
Score is a new dating app for people with good to excellent credit
You must have at least a 675 credit score to use it.
Welcome to TechCrunch Fintech (formerly The Interchange)! We’re back after a brief hiatus, and I can tell you that judging by the volume of pitches I received last week, venture…
Could 2024 be the year for fintech IPOs? Quite possibly, according to F-Prime Capital’s State of Fintech 2024 report. F-Prime — a VC firm with over $4.5 billion in assets…
SUMA Wealth grabs $2.2M as its financial platforms reach 1M users
SUMA Wealth’s platforms have seen 62% annual user growth, while revenue increased nearly five times in the past year.
Metronome’s usage-based billing software finds hit in AI as the startup raises $43M in fresh capital
Metronome, a startup that helps software companies offer usage-based billing, has raised $43 million in a Series B funding round led by NEA. Existing backers Andreessen Horowitz and General Catalyst…
Finvest app will have you invested in US Treasury Bills in minutes
Finvest is out to make the purchase, management and selling of U.S. Treasury Bills seamless, while also offering a high-yield cash management account with a 4.4% yield.
Block, the fintech company whose subsidiaries include Square, Cash App and Afterpay, is laying off staff at a tumultuous time for tech industry workers. That’s according to an internal memo…
Spend management startup Ramp has acquired AI-powered startup Venue as it expands its procurement offering. Venue was founded in 2022 by TK Kong, Young Kim, and Kevin Chan, and its…
PayPal has begun company-wide layoffs, according to multiple reports, including an article published by The Information. It is not yet clear at the time of writing how many people will…
Welcome to TechCrunch Fintech (formerly The Interchange)! In this edition, I’m going to look at Brex’s latest round of layoffs, the state of fintech investing in 2023 and more! I…
Gen Z investing app Alinea raises $3.4M, plans to launch an ‘AI copilot’
Alinea Invest, a fintech app offering AI-powered wealth management aimed at Gen Z women, has $3.4 million in seed funding ahead of the launch of a virtual AI assistant that…
Klarna introduces $7.99 ‘Klarna Plus’ subscription plan as it approaches an IPO
Swedish fintech company Klarna announced today its first subscription plan, “Klarna Plus,” for $7.99 per month, featuring benefits like no added service fees when using Klarna’s One Time Card, double…
General Catalyst leads $200M investment into Bilt Rewards, doubling its valuation to $3.1B
Bilt Rewards, whose platform aims to allow consumers to earn rewards on rent and daily neighborhood spend, has raised $200 million at a $3.1 billion valuation, the company announced today.…
Brex cuts 20% of staff amid reports of stalled growth, high burn
Expense management startup Brex, which was valued at $12.3 billion two years ago, laid off 282 people, or about 20% of its staff today. The once high-flying fintech startup sent…
Covering companies’ growth from the seed stage gives reporters a glimpse of what investors must feel like.
Briq, a startup that uses AI to automate finances in construction, brings in $8M extension at a $150M valuation
At a time when many startups are struggling to raise funding or are raising but at lower valuations, it’s notable when companies raise at flat or higher valuations. Especially when…
