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Indian fintech KreditBee has raised an additional $100 million in a funding round, it said, as the lender looks to scale its business in the South Asian market. Fintechs use modern-age underwriting systems to lend to customers and a maze of regulatory arbitrage — that is increasingly getting narrow — to operate.
By Katherine Maslova This has been a year of rapid progress and high expectations for the fintech sector. So, despite being a sector with a strong concentration of AI leaders, fintech like 74% of companies across industries struggles to scale value. There’s also been lots of buzz and hard, painful truths learned.
Artem Milinchuk is the founder and CEO of FarmTogether , a fintech platform channeling funding into natural assets, starting with U.S. Farmland’s negative correlation with the Dow Jones Industrial Average sits at an eye-popping -43% for a three-year hold period, making it an excellent hedge against market volatility. Artem Milinchuk.
The global downturn has impacted every sector, but fintech bore the brunt of it as public-market valuations fell off a cliff last year. CB Insights recently found that two of the largest global VC firms, Sequoia Capital and Andreessen Horowitz, actually backed more fintech companies in 2022 than any other category.
Marqeta has agreed to acquire two-year-old fintech infrastructure startup Power Finance for $223 million in cash, marking the first acquisition in the publicly-traded company’s 13-year history. In other words, it provides the tools for companies — fintechs and otherwise — to provide cards, wallets and other payment mechanisms.
When Female Invest launched in 2019, it did so with the goal of creating a community where women who wanted to invest in the stock market, but weren’t sure where to start, could gain the knowledge and confidence to take the plunge. For Female Invest though, the long-term plan, regardless of market conditions, is all falling into place.
MotoRefi has raised another $45 million in a round led by Goldman Sachs just five months after investors poured $10 million into the fintech startup to help turbocharge its auto refinancing business. The auto refinance market in the United States is $40 billion. Bennett believes the company is now in self-sustaining position.
Speaking of these uncertain economic times, all financial institutions — including Varo — are clearly operating in a very different market than you were a year ago. Our largest reduction in spend is coming from marketing. Prior to the market shift, you had secured a big funding round and talked about going public.
Every week, I’ll take a look at the hottest fintech news of the previous week. There’s a lot of fintech news out there and it’s my job to stay on top of it — and make sense of it — so you can stay in the know. — Mary Ann Now hiring Hello, hello! It’s not fun covering layoffs, and unfortunately we’ve had too many of those.
Every week, I’ll take a look at the hottest fintech news of the previous week. There’s a lot of fintech news out there and it’s my job to stay on top of it — and make sense of it — so you can stay in the know. Companies are raising less money at lower valuations than in 2021, which reflects the market sentiment.”.
Specifically, today QED is announcing a $550 million early-stage fund and a $500 million growth-stage fund , both of which are aimed at backing fintech companies primarily in the U.S., Clearly, Alexandria, Virginia-based QED was investing in fintech before fintech was “cool.” the United Kingdom, Latin America and Southeast Asia.
The holiday shopping season is coming: How are growth marketers preparing? With only three weeks left to the start of the holiday shopping season, Miranda Halpern checked in with several growth marketers to find out how they’re advising their clients to prepare for supply chain disruptions. Bring on the low-cost NFTs.
Techstars , a network of startup accelerators and an investment company, is launching a new accelerator in Paris called Techstars Sustainability Paris. With this sustainability-focused accelerator, Techstars is hitting the reboot button. Every year, Techstars Sustainability Paris plans to accept 24 startups across two batches.
Vadym Synegin is a Ukrainian impact entrepreneur, philanthropist and investor in fintech and crypto projects with more than 15 years’ experience as an entrepreneur in Europe and the UAE. 5 reasons why Ukraine’s fintech sector is growing despite war. What can we do to make the most out of the current market?
Welcome to my new weekly fintech focused column. 2021 was a record year for venture capital fundraising, and fintechs were the largest recipients of funding worldwide, with about 21% of all venture dollars last year going into fintech startups. And fintech, last year’s rising star of venture, is not immune.
Shares of Delhivery hit an all-time low of 317 Indian rupees ($3.88) Wednesday, cutting its market cap to $2.8 At the current share price, Delhivery’s market cap has shrunk to $2.8 Indian fintech giant Paytm, which hit an all-time low Tuesday , slid further to as low as 452 Indian rupees Wednesday, cutting its market cap to $3.6
Evergrow , a stealth climate fintech startup, just landed over $7 million in seed funding. The growth of the carbon markets over the past two years suggests the endeavor could be lucrative as the long-term offtake carbon purchase price is set. . Fragmented competition and market validations. The risk is considered too great. .
Undoubtedly, this is putting added pressure on FinTech executives. Although digitization has a significant catalytic effect on these processes, a successful diversification strategy would still need a solid basis and a set of scalable growth patterns that could apply to target markets.
And what’s more surprising is that the buy is outside payments or fintech. With Flutterwave, we now have a way to drive both value for creators and revenue to sustain the business. We saw Disha as an opportunity to capture a new market of indie creators that need innovative tools to showcase their craft and get paid.
In his latest TC+ column, growth marketer Jonathan Martinez describes the process he used to lead his last startup from zero to $1 million ARR in Year One. Unless, of course, someone can explain exactly how to do it. “But it doesn’t negate the fact that women are coming to the table from an investor standpoint.”
As Kuda positions itself for pan-African and international expansion amidst an uncertain venture capital environment, it depicts the recent cut in its workforce as part of strategic steps for sustainable growth. Per sources, this includes growth, marketing and product departments. Wave, a Stripe-backed African fintech valued at $1.7
On the other hand, the financing gap left by conventional banking institutions has presented an opportunity for innovation, leading to the birth of fintechs like Asilimia. Asilimia is set to use the funding to hire talent as it looks to fine tune its technology and to expand to another market within East Africa.
Since it went to market in 2019, Branch claims to have saved its “members” an average of $548 a year. As a result of his experience, he was able to execute on the market opportunity very quickly.”. My weekly fintech newsletter, The Interchange, launched on May 1! And so he teamed up with Joe Emison, and Branch was born.
When it comes to sustainable infrastructure development, technology is making terrific leaps and bounds. Streamlined, and indeed sustainable, it ain’t. Streamlined, and indeed sustainable, it ain’t. The theory is that it will make investment in sustainable infrastructure a more attractive proposition, too.
The massive “oversubscribed” financing comes nearly seven months after the fintech startup raised $63 million in a round led by NBA star Russell Westbrook, who also joined the startup as an advisor focused on the direction of Varo Bank’s programs aimed at underserved communities, including communities of color. . .”
Every week, I’ll take a look at the hottest fintech news of the previous week. There’s a lot of fintech news out there and it’s my job to stay on top of it — and make sense of it — so you can stay in the know. — Mary Ann. But first, let’s talk about fintech. Hello, hello. Soooo exciting! Come see us! Get 15% off here ).
In order to determine one, you should ask fundamental questions: What’s the long-term, sustainable reason that the company will stay in business? Fast growth pushes an unprofitable no-code startup into the public markets: Inside Monday.com’s IPO filing. Help TechCrunch find the best email marketers for startups.
The impending Coinbase direct listing is a fintech debut to watch. The Exchange explores startups, markets and money. Between both companies, we’re seeing signs of the sort of growing consumer interest and trading volume that has historically come with sustained periods of bitcoin price expansion.
In 2015, the emergence of fintechs such as Flutterwave and Paystack changed the game for online businesses in Africa by making it easier to integrate payments into customer interfaces without building those features from the ground up or merging with tacky foreign software. The situation is no different in Africa.
Pakistani fintech PostEx has acquired logistics service provider Call Courier , creating what it describes as the largest e-commerce service provider in the country. This is essential for smaller businesses that need every penny to sustain themselves.”. PostEx will now serve 1.3 It has raised $8.6
The company works primarily with small fisheries (or ones that have boats with about one to two metric tonnes of capacity) and focuses on sustainability, helping suppliers adhere to the United Nations Goal 14’s targets. The first one was market access and getting fair prices for seafood. The second was access to working capital.
But it’s also one of the more expensive places to start a business, due to its high cost of living, salary expectations and relatively small labor market. Maximilian Spelmeyer , partner, SIX Fintech Ventures. Lastly, I don’t get why people still start fitness startups as I feel like the market has reached its limits.
On July 21, we’ve got an incredible lineup for our TC Robotics event — and something is wrong with the folks up in marketing, because they decided to make the event free of charge. billion — shed over a third of its staff to help it become a “self-sustaining and profitable business,” Natasha M reports. ??Five
PayPal Ventures, the global corporate venture arm of PayPal, is one of the participating investors (this marks its first investment in the Gulf Cooperation Council (GCC) but second in the MENA region after Egyptian fintech Paymob ). The fintech has raised more than $410 million in equity and debt since its 2019 launch. .
Founder and CEO Seun Alley , in a statement, said the company plans to use the seed investment to deepen its work in Nigeria (which has a $10 billion transport and logistics market) while it considers expansion — from Q4 2023 — into other African markets, including Ghana, Kenya and South Africa.
It also acknowledged that it had engaged “an independent 3rd party firm to do a leadership and cultural assessment,” the results of which would be “taken into account to build a long-term sustainable and positive culture at Better.”. It wasn’t a shock that the market had turned on us,” the employee said. This was untrue,” she said.
With nearly half a million customers across Mexico and a network of 30,000 retail locations where representatives can take deposits, the challenger bank albo is already on its way to becoming a dominant player in Mexico’s emerging fintech industry. albo has proven its ability to drive sustainable growth and is leading the market.
Then at the far end of the spectrum are companies like Swedish fintech company Klarna, which has integrated gen AI not only in a range of internal projects, but also in products they sell — and have developed AI governance that includes guidelines on how AI should be used on projects. They share them here.
Affirm’s financials on a quarterly basis — located on page 107 of its S-1 if you want to follow along — give us a more granular understanding of how the fintech company performed amidst the global pandemic. In those periods, the consumer fintech unicorn recorded a top line of $138.2 million from $87.9 million, $153.3
Nikhil Sachdev is a managing director at Insight Partners, where he focuses on investments in high-growth software, fintech and crypto companies. Apoorva Goyal is a vice president at Insight Partners, where he focuses on investments in high-growth fintech, internet and software companies. Apoorva Goyal. Contributor. Share on Twitter.
Now, here comes another grim data point: Equity funding to startups focused on cleantech and sustainability is down this year. billion went to seed through growth financings for companies in Crunchbase’s sustainability, EV, and cleantech categories. And fossil fuel consumption continues to grow. In the first half of 2024, around $9.6
Sustaining velocity at scale Blocks approach to developer experience has evolved significantly as the company has grown. While this freedom initially enabled rapid time-to-market, it also resulted in complexity as the company grew to include multiple business units and thousands of developers.
From lithium battery chemical recycling to smart media, blockchain infrastructure to student-centric educational software, and Sub-Saharan African fintech to cultured-meat production, this batch of companies is sure to wow the investors and the audience. TC aims to pick companies from a range of industries.
As a result, they don’t have much experience to draw from when it comes to basics like hiring, fundraising and growth marketing. This afternoon, we published a guest post by growth marketer Jessica Li with tips for “ how nontechnical talent can build relationships with deep tech companies.” What’s going on?
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