Fintech

Klarna’s revenue per employee soars to nearly $1 million thanks to AI efficiency push

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Last year, Klarna announced a significant initiative to leverage its internally developed AI systems, powered by OpenAI, across its operations. This wasn’t empty talk for the buy now, pay later giant. The company not only ended its pricey contract with Salesforce CRM, but also curtailed its hiring efforts, allowing AI to do some of the […]

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Acorns acquires family wealth and digital memory platform EarlyBird

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Savings and investing startup Acorns has acquired EarlyBird, an investment gifting platform for families, the company told TechCrunch exclusively. The financial terms of the deal were not disclosed. As part of the acquisition, EarlyBird will shut down, and all customer accounts will officially close on June 23. Customers’ funds will be returned to the bank

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$25B-valued Chime files for an IPO, reveals $33M deal with Dallas Mavericks

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At long last, digital consumer bank Chime has moved forward with its IPO by filing its S-1 paperwork Tuesday. Chime had reportedly filed confidential S-1 paperwork back in December. S-1 filings typically reveal all kinds of information, covering financial, legal, and other risk factors. But Chime’s S-1 documents still have a lot of blank spaces.

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Insurtech Bestow lands $120M Series D from Goldman Sachs, Smith Point Capital

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Melbourne O’Banion co-founded insurtech Bestow with Jonathan Abelmann in 2017 after struggling to secure his own life insurance policy. His goal was to make it easier for people to obtain life insurance and make the process more tech-enabled. Initially, Bestow operated as a direct-to-consumer insurance provider — selling, underwriting, and servicing life insurance policies. In

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Stripe unveils AI foundation model for payments, reveals ‘deeper partnership’ with Nvidia

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Fintech giant Stripe announced Wednesday a slew of new product launches at its annual Stripe Sessions user event. The highlights include: a new AI foundation model for payments; stablecoin-powered accounts; a new Orchestration offering, and a recent migration with chip behemoth Nvidia. Stripe’s payments foundation model has been trained on tens of billions of transactions,

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Agree.com raises $7.2M to take on Docusign, Bill.com with AI

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Agree.com says its AI-powered e-signature platform is different from competitors because it includes invoicing and payment processing. That’s why the company might have a shot at tackling the industry goliath, Docusign.  Because the startup makes its money from transaction fees for any money movement facilitated by its platform, Agree.com has made e-signatures free to all

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MoneyFellows raises $13M to take its group savings model outside Egypt

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While most African digital lenders depend on working capital to fuel growth, MoneyFellows has quietly done what few others have: lend billions of Egyptian pounds with almost no debt or balance sheet exposure. Now, after raising $13 million in a pre-Series C round led by Casablanca-based Al Mada Ventures and DPI’s Nclude Fund, the Cairo-based

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World partners with Tinder, Visa to bring its ID-verifying tech to more places

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World, the biometric ID company best known for its eyeball-scanning Orb devices, at an event late on Wednesday announced several partnerships aimed at driving sign-ups and demonstrating the applications of its tech. World is partnering with Match Group, the dating app conglomerate, to verify the IDs of Tinder users in Japan. Via collaborations with Kalshi

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UK fintech Sprive closes $7.3M round to facilitate mortgage overpayments

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Most mortgage lenders would rather people didn’t pay off their mortgages early. After all, that’s that’s how they make their money. Indeed, overpayment is positively discouraged and sometimes even penalized. What if there were a solution that solved the technology behind it, alongside the financing arrangements? That’s the idea behind the Sprive fintech app. This

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