Just seven months after announcing a $6 million seed funding round, Hyperplane, a San Francisco-based data intelligence startup that is building foundation models for banks, announced Wednesday that it has been acquired by Brazil’s Nubank. Hyperplane was founded in 2022 by Daniel Silva, Felipe Lamounier, Rohan Ramanath and Felipe Meneses. When the company launched out […]
Nubank acquires AI-for-banks startup Hyperplane Read More »
Rainforest, a startup that embeds payment processing into other software platforms, has raised $20 million in Series A funding — less than a year after announcing the close of its seed financing. Raising back-to-back rounds was more common in 2021 but we don’t see it happening as often in this new environment. Rainforest’s traction is
Rainforest lands $20M to challenge Stripe with embedded payments for SaaS providers Read More »
Welcome to TechCrunch Fintech! This week, we’re looking at a Brex exec’s jump to join venture firm a16z, Klarna selling off its payments unit and some mega-raises. To get a roundup of TechCrunch’s biggest and most important fintech stories delivered to your inbox every Tuesday at 7:00 a.m. PT, subscribe here. The big story Ali Rathod-Papier
From Brex exec to venture capitalist Read More »
Pennylane, Qonto, Agicap, Pleo and Mollie have one thing in common. They all use Chift in one way or another to manage integrations with other services. And this relatively young Belgium-based startup just raised a €2.3 million seed round ($2.5 million at today’s exchange rate). Many fintech startups rely on integrations to make their product
Chift lets SaaS companies integrate with dozens of financial tools with a unified API Read More »
Banking-as-a-service (BaaS) platforms are instrumental in driving access to digital financial services by introducing fintech capabilities to non-bank businesses. Multiple businesses are tapping these platforms to circumvent the need to build their own tech infrastructure and the bureaucratic processes of acquiring the requisite regulatory approvals to offer financial services including card payments and lending. Globally,
The U.S. is facing an accountant shortage. Fewer first-time candidates took the CPA exam in 2022 than in 2006, according to the American Institute of Certified Public Accountants. One possible reason people aren’t as interested in the field is the large amount of drudge work involved: Accountants have to rifle through large amounts of unstructured
Materia looks to make accountants more efficient with AI Read More »
The global freelancer market, a $1.3 trillion industry fueled by over 200 million knowledge workers, drives demand for solutions that automate payroll and streamline employment and tax regulations worldwide. However, most existing products fail to address the legal landscape of emerging markets, such as differences in employment laws. This oversight means global hiring platforms, which
Four years after acquiring Shine, a French fintech startup that offers bank accounts to freelancers and very small companies, Société Générale has announced plans to sell Shine to Ageras. In 2020, TechCrunch reported that Société Générale spent around €100 million to acquire Shine. It wasn’t a huge acquisition but it attracted quite a bit of
Société Générale to sell its freelancer challenger bank Shine to Ageras Read More »
Welcome to TechCrunch Fintech! This week, we’re looking at layoffs at BaaS startup Unit and car insurance company Loop, as well as Brex’s decision to abandon its co-CEO model, Apple killing its Pay Later feature, and more! To get a roundup of TechCrunch’s biggest and most important fintech stories delivered to your inbox every Tuesday
Unit and Loop lay off staff and Brex ditches co-CEO model Read More »
360 One WAM, India’s largest wealth manager focused on ultra-high-net-worth individuals, has agreed to acquire popular Indian mutual fund investment app ET Money for about $44 million. 360 One disclosed (PDF) the deal in a stock exchange filing Wednesday evening. ET Money boasts over 900,000 transacting clients and tracks assets under management of approximately $8.3
India’s 360 One acquires mutual fund app ET Money for $44M Read More »
