Fintech

Thatch raises $40M to give employees more control of their health care choices

Startups /

Thatch, a startup that aims to transform the health insurance experience for employers and employees alike, has raised $40 million in a Series B round of funding, it tells TechCrunch exclusively. Index Ventures led the financing, which included participation from existing backers Andreessen Horowitz (a16z), General Catalyst, SemperVirens, PeopleTech Partners, The General Partnership, and new […]

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Y Combinator neobank Djamo raises $17M with 1M users across Francophone Africa

Fintech /

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

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Fintech VC powerhouse Frank Rotman stepping down from QED Investors to found his own startups

Venture /

Prolific fintech investor and QED Investors co-founder Frank Rotman said Friday that he will transition to a partner emeritus role by year’s end to focus on founding his own startups. But those startups won’t necessarily be financial technology companies. In a post on X, Rotman – who helped start QED in 2007 – declared that

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YC alum Mendel, a ‘Ramp for LatAm enterprises,’ raises $35M Series B

Fintech /

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

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Fintech Mercury lands $300M in Sequoia-led Series C, doubles valuation to $3.5B

Startups /

Digital banking startup Mercury has raised $300 million in primary and secondary funding at a $3.5 billion post-money valuation, the company confirmed to TechCrunch on Wednesday. The valuation is more than double the startup’s valuation when it last raised capital – a $120 million Series B round in 2021 that valued the company at $1.62

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Mortgage as an employee benefit? Kleiner Perkins leads $23.5M Series A for Multiply Mortgage

Fintech /

After hitting record lows at the start of the pandemic, mortgage rates began to climb in 2022 and haven’t come down significantly since.  With 30-year mortgage rates hovering at over 6.5% today (they were as low as 2.49% in 2020!), buying a home is simply not that attainable for many people. One Denver-based startup is

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Klarna nabs Walmart away from Affirm and boosts its IPO prospects

Fintech /

On the heels of its IPO filing, Swedish fintech giant Klarna announced on Monday that it will exclusively provide buy now, pay later loans for Walmart. The partnership with Walmart is one that rival Affirm had previously owned. Klarna will provide the loans to Walmart customers through OnePay, a fintech startup in which it owns

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Bench is charging people for services they already paid for, some customers say

Startups /

After Employer.com acquired bankrupt accounting startup Bench in a fire-sale late last year, CEO Jesse Tinsley pledged on LinkedIn and elsewhere to honor past customer payments. “We’re honoring all prepaid Bench services even though we will not have the revenue from that directly ourselves,” Tinsley said in an interview with founder and investor Julian Weisser.

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Bolt CEO Ryan Breslow explains his troubled $30M personal loan, announces new ‘super app’

Startups /

Bolt’s controversial co-founder Ryan Breslow, who returned as CEO earlier this month, spoke on Monday about the $30 million personal loan he took out of his company that sparked legal battles and contributed to his (temporary) ouster. Breslow also announced that Bolt will launch an “everything app” that will integrate one-click checkouts for everything from

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