Consumer payments startup Braid, backed by Index and Accel, shuts down

Braid, a four-year-old startup that aimed to make shared wallets more mainstream among consumers, has shut down. Founded in January 2019 by Amanda Peyton and Todd Berman (who left in…

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Here’s how fintech Rainforest, a budding Stripe rival, aims to win over software companies

Rainforest raises $8.5M and PayPal gets hit with a lawsuit. We take a look at this and other hot fintech news from the previous week.

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a16z-backed fintech Synapse lays off 40% of its staff

Banking-as-a-service startup Synapse confirmed today that it has laid off 86 people, or about 40% of the company. The San Francisco-based company, which operates a platform enabling banks and fintech…

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Rainforest raises $8.5M to help software companies embed financial services, payments

In November 2019, Andreessen Horowitz General Partner Angela Strange famously declared that, “Every company will be a fintech company.” Specifically, Strange projected that — in the not-too-distant-future — “nearly every…

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Why we’re seeing so many seed-stage deals in fintech

Welcome back to The Interchange, where we take a look at the hottest fintech news of the previous week. If you want to receive The Interchange directly in your inbox every…

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Fintech actually has a value system: Here’s how we can reclaim it

One of the big lessons of the social finance backlash is that empowerment without education can do more harm than good.

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Series, which aims to replace ERP systems, lands $25M

As companies grow, they create legal entities and organizational structures to support their lines of business — each with their respective governance and compliance needs. Quickly, keeping track of this…

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FedNow’s legal terms contain a game changer for digital wallets and payment apps

The potential reach for nonbank payments providers who leverage this provision in the FedNow legal terms could be significant.

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Pan-African contrarian investor P1 Ventures reaches $25M first close for its second fund

P1 Ventures has reached the first close of its second fund at $25 million. It expects to reach a final close early next year.

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Despite the ups and downs of the fintech space, people still really care about it

Welcome back to The Interchange, where we take a look at the hottest fintech news of the previous week. If you want to receive The Interchange directly in your inbox every…

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