Open banking may be a global trend, but implementation is fragmented. The fintech startups doing the legwork to make it a reality in smaller markets could become M&A targets for incumbents like Visa. One of these is Y Combinator alum Fintoc, a B2B fintech startup that has raised a $7 million Series A round of […]
Paystand has acquired spend management software startup Teampay to create what the companies describe as a “no-fee B2B digital payment and spend powerhouse.” Financial terms of the deal were not disclosed. Teampay has raised $65 million since it was founded in 2016. The combined company services over 1 million businesses running on a commercial blockchain
Paystand acquires Teampay to be DeFi version of ‘Venmo for B2B payments’ Read More »
Stripe continues to hold the title of being the biggest financial technology business still in private hands, with a current valuation of about $65 billion and a whopping $1 trillion in total processed payment volume last year alone. But fintech is fragmented and a fast-moving target, and with competitors chipping away at its place, Stripe is
India’s central bank on Wednesday ordered Kotak Mahindra Bank to immediately cease onboarding new customers via its online and mobile banking channels and to stop issuing fresh credit cards, citing serious deficiencies in the bank’s IT systems and risk management practices. Kotak Mahindra Bank is India’s fourth most valuable bank. It’s also one of the
RBI bars Kotak Bank from adding new online customers and credit cards Read More »
Winding down a startup can be bittersweet for founders. In the case of Fundid, rising interest rates killed the business finance startup. But VCs and partners hurt it, too, founder Stefanie Sample says. TechCrunch profiled the company in 2022 when Sample raised $3.25 million in seed funding backed by fintech investor Nevcaut Ventures, The Artemis
Fintech Fundid was shut down over interest rates and a strained cap table Read More »
Pomelo, a startup that combines international money transfer with credit, has raised $35 million in a Series A round led by Dubai venture firm Vy Capital, TechCrunch has exclusively learned. Additionally, the company is announcing a $75 million expansion of its warehouse facility. Founders Fund and A* Capital also participated in the financing, along with
After a tumultuous year, banking-as-a-service (BaaS) startup Synapse has filed for Chapter 11 bankruptcy and its assets will be acquired by TabaPay, according to the two companies. The deal is pending bankruptcy court approval. Founded in 2017, Mountain View-based TabaPay is an instant money movement platform that SoftBank backed in a 2022 round of an
Welcome to TechCrunch Fintech! This week, we’re looking at Ramp’s big raise and valuation jump, Mercury’s move into personal banking, Klarna’s new credit card, global funding rounds and more! To get a roundup of TechCrunch’s biggest and most important fintech stories delivered to your inbox every Sunday at 7:00 a.m. PT, subscribe here. The big story Ramp,
Fintech startup Ramp sees 32% bump in valuation, Mercury expands into consumer banking Read More »
To some investors, “down round” is a dirty phrase, but not to Notable Capital’s Hans Tung. Hans is a managing partner at Notable Capital, formerly GGV Capital, a venture firm focusing on investments in the U.S., Latin America, Israel, and Europe. Hans, whose portfolio includes the likes of Airbnb, StockX and Slack, sat down with
Notable Capital’s Hans Tung on the state of VC and the upside to down rounds Read More »
Midas, a fintech startup that allows people in Turkey to invest in U.S. and Turkish equities, says it has raised $45 million in a funding round led by Portage of Canada. The startup is aimed at Turkey’s retail investor market and claims to have more than 2 million users. Its pitch is that it charges
Equities platform Midas raises $45M Series A as fintech retains its sparkle in Turkey Read More »
