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Novo, the SMB neobank, nabs $90M at a $700M valuation

TechCrunch

There are a number of fintechs, some that describe themselves as challenger banks, in the market today catering to SMBs. (We’ve They are the only ones we are concerned with because they own 99% of the market,” said Michel Rangel, CEO of Novo, in an interview earlier this month.

SMB 247
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So much fintech M&A

TechCrunch

On Friday, January 13, investment giant BlackRock announced it was acquiring a minority stake in SMB 401(k) provider startup Human Interest. For one, as one source told me, BlackRock’s investment is a show of faith in the SMB 401(k) market — one where the firm hasn’t historically played.

Fintech 294
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Robco links up with $14M led by Sequoia to bring modular robotics to industrial SMBs

TechCrunch

In short, SMBs might need to scale up productivity at times but — either due to the economics of the need, or labor shortages, or both — are unable to hire people to fill those jobs on a permanent basis. No company yet has crossed the chasm to [provide] great, delightful technology that could be deployed in days or months.

Industry 256
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Factorial adds $120M and doubles valuation to $1B to build enterprise-quality HR for SMBs

TechCrunch

Small and medium businesses, long overlooked in the building of innovative technology, have lately become a key focus in the world of B2B software. While developed markets like the U.S., While developed markets like the U.S., Our market share is ridiculously small and it’s mostly greenfield.”

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TechCrunch+ roundup: Optimizing acquisition, parental leave tips, riding the downturn express

TechCrunch

Despite the quickening pace of layoffs, there is some good news for SaaS startups: 70% of SMBs plan to increase IT spending in 2023, and the procurement process is getting faster. “At the awareness stage, businesses are looking to solve a problem or challenge using technology,” writes Hogan.

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Why QED, hot on Nubank, is bullish about LatAm fintech

TechCrunch

Nubank’s IPO is coming into closer focus after the Brazilian neobank filed privately to list its shares in both the United States and its home market, later releasing a public IPO filing. QED partner Lauren Morton is dedicated to the Latin American market for the investor, so we reached out to get her take on recent results from the region.

Fintech 253
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Stenn banks $50M on a $900M valuation for a platform to finance SMBs that trade internationally

TechCrunch

Stenn has been around since 2015 and has since then financed some $6 billion in loans from 74 countries, with $1 billion of that loaned out in 2022 alone, with an approach that brings technology to an area that had previously been largely untouched by lenders, said Stenn’s founder and CEO Greg Karpovsky in an interview.

Banking 208