Savana raises a fresh round of capital to digitize banks’ services
Malvern, Pennsylvania-based Savana, a company building financial software products for legacy banks, today announced that it raised $45 million. A portion of the capital — $10 million — was debt,…
Read More »A tale of two surveys: Fintech VCs change tune on investment landscape
Welcome to The Interchange! If you received this in your inbox, thank you for signing up and your vote of confidence. If you’re reading this as a post on our…
Read More »Lemonade closes on acquisition of insurtech Metromile, promptly lays off about 20% of its staff
Publicly traded Lemonade has laid off about 60 employees of Metromile, the auto insurtech company it recently acquired — adding to the volatility the technology sector has seen over the…
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TechCrunch+ roundup: SaaS burn multiples, 8 fintech VCs spill the tea, all my apes gone
Despite the ongoing correction in the public markets, mass layoffs in the tech sector and high inflation, U.S. Treasury Secretary Janet Yellen says we’re not yet in a recession. At…
Read More »Clearco cuts 25% of staff, considers ‘strategic options’ for international operations
Clearco, a Toronto-based fintech capital provider for online companies, tells TechCrunch that it has laid off 125 people, or 25% of its entire staff. Those impacted will receive severance pay,…
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Kompliant secures $14M to help companies tackle financial compliance challenges
Kompliant, a startup delivering an “AI-driven” business onboarding and risk scoring platform, today announced that it raised $14 million in a seed round led by Level One Fund with contributions…
Read More »Crypto and securities, back of the postcard version
Hello and welcome back to Equity, a podcast about the business of startups, where we unpack the numbers and nuance behind the headlines. Alex, Natasha and Mary Ann got together with Grace once again…
Read More »US-based fintech Umba buys majority stake in Kenya’s Daraja microfinance bank
Umba, a U.S.-based digital bank with a focus on emerging markets, has acquired a majority share of Daraja, a Kenyan deposit-taking microfinance bank, for an undisclosed amount. Kenya’s monetary authority,…
Read More »8 investors discuss fintech’s potential despite the market downturn
The fintech sector has had its ups and downs as of late, with Klarna experiencing hefty valuation cuts, Fast shutting down and Robinhood and Better conducting mass layoffs. Despite the…
Read More »8 fintech VCs discuss the shifting investing landscape and how to pitch them in Q3 2022
Last year, more than 20% of venture dollars went into fintech startups globally, according to CB Insights. Equally notable: One-third of all unicorns created in 2021 were fintech companies. This…
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