Last week, details emerged about an application that fintech giant Stripe had submitted for a U.S. banking license. There was a lot of chatter on X about whether this meant Stripe — already the largest privately valued fintech in the world – would now be adding bank to the list of descriptions of what it […]
No, Stripe is not becoming a bank Read More »
Rain, a startup offering employer-integrated earned wage access (EWA) app coupled with financial-wellness features like overdraft alerts and spending trends, has raised $75 million in an all-equity Series B round. The round was led by Prosus at a post-money valuation of $340 million. Rain plans to use the new funds to help it add credit
Los Angeles-based Rain raised a $75M Series B in another good sign for fintech Read More »
Expanding into the Middle East and North Africa (MENA) remains a costly and complex challenge for global businesses, thanks to fragmented regulations and banking systems. Dubai-based fintech Fuse aims to simplify that with a cross-border payments API and has raised $6.6 million in seed funding to make it happen. Founded in 2023 by George Davis,
Fuse raises $6.6M to fix a payment problem for companies expanding to MENA Read More »
Plaid, which connects bank accounts to financial applications, has sold about $575 million worth of common stock at a $6.1 billion post-money valuation, the fintech company confirmed to TechCrunch. The valuation is about less than half of the $13.4 billion that San Francisco-based Plaid was valued at when it raised a $425 million Series D
Fintech Plaid raises $575M at a $6.1B valuation, says it will not go public in 2025 Read More »
Djamo is one of several digital banking startups targeting Africa’s underbanked. But unlike many that focus on large markets like Nigeria, Egypt, or South Africa, Djamo has carved out a niche in Francophone West Africa, specifically the Ivory Coast and, more recently, Senegal. It now serves over one million customers across both countries. The Y
Y Combinator neobank Djamo raises $17M with 1M users across Francophone Africa Read More »
Circle, the issuer of USDC, a stablecoin pegged to the U.S. dollar, filed to go public on Tuesday. The company, which makes money from interest earned on its reserve assets, reported that its 2024 revenue and reserve income was $1.68 billion, up from $1.45 billion the year prior. Circle’s 2024 net income was $156 million,
Stablecoin issuer Circle takes another stab at a public listing Read More »
As it gears up to go public, Chime is going all in on new features in an effort to attract more customers. The digital bank is offering customers who agree to have their paychecks directly deposited into a Chime savings or checking account an APY of 3.75%, it tells TechCrunch exclusively. For those who don’t
IPO-bound Chime hopes to boost growth by paying higher interest rates Read More »
Charlie Javice, the founder of student loan application startup Frank that was purchased by JPMorgan for $175 million, was found guilty on Friday of defrauding the bank by greatly inflating the customer count. After a five-week trial, the jury found Javice guilty, agreeing with prosecutors’ claims that she fabricated the vast majority of Frank’s customer
Javice found guilty of defrauding JPMorgan in $175M startup purchase Read More »
Mexico City-based Mendel has raised $35 million in a Series B round of funding, it tells TechCrunch exclusively. Corporate spend management platform Mendel last raised in December 2021 — a $15 million Series A round and $20 million in debt — after participating in Y Combinator’s Winter 2021 cohort. With this latest capital infusion, the
YC alum Mendel, a ‘Ramp for LatAm enterprises,’ raises $35M Series B Read More »
Abound, a remittance app that was spun off by Times Internet in 2023, has raised $14 million in its first external funding round as it aims to reach more Indian expats in the U.S. Remittance flows to India are rising as the Indian diaspora spreads worldwide. In 2024, the South Asian country recorded $129.1 billion
Times Internet spin-out Abound raises $14M to let more Indian Americans send money home Read More »
