Venture-backed fintechs raised a record $30.8 billion in the second quarter of this year, up 30% over the same quarter last year. But how are fintech founders spending it all?
Productfy raises $16M to build the ‘Shopify of embedded finance’
Productfy Inc., a banking-as-a-service (BaaS) platform that aims to build “DeFi for traditional finance,” has raised $16 million in a Series A round of funding led by CM Ventures. Existing backers Point72 Ventures, 500 Startups and Envestnet | Yodlee also participated in the financing, which brings its total raised since its 2018 inception to nearly […]
Eight Roads launches its fourth fund: $450M aimed at European/Israeli scale-ups
European VC Eight Roads is launching its fourth fund of $450 million for European and Israeli tech companies , aiming for another 15-20 across a broad range of consumer, software-as-a-service, fintech and healthtech areas. Cheque sizes wil range from around $5 million to $50 million per company, and as such, it tends to play more […]
Who needs a BaaS partner, anyway?
Banking as a service will change not just the way financial services apps are built and embedded into new platforms, but also the way in which consumers and businesses alike interact with their finances.
Hedvig banks $45M to expand its millennial-focused insurance service in Europe
Millennial consumers are emerging as a key demographic in the insurance market, and today a Swedish startup that’s building a business catering specifically to their needs and priorities is announcing a round of funding to fuel its growth. Hedvig, a neo-insurer that provides property, travel, contents, and accident insurance geared to the lifestyles of younger […]
It turns out fintech is worth as much as SaaS
The lesson appears to be that revenue growth matters more than near-term margins for fintech companies, allowing them to secure valuations that far surpass their final private marks.
Billogram, provider of a payments platform specifically for recurring billing, raises $45M
Payments made a huge shift to digital platforms during the Covid-19 pandemic — purchasing moved online for many consumers and businesses; and a large proportion of those continuing to buy and sell in-person went cash-free. Today a startup that has been focusing on one specific aspect of payments — recurring billing — is announcing a […]
What minority founders must consider before entering the venture-backed startup ecosystem
Venture funding for entrepreneurs of color remains elusive, but here are some tricks for startup founders to hack the system.
Nuula raises $120M to build out a financial services ‘superapp’ aimed at SMBs
A Canadian startup called Nuula that is aiming to build a superapp to provide a range of financial services to small and medium businesses has closed $120 million of funding, money that it will use to fuel the launch of its app and first product, a line of credit for its users. The money is […]
Fintech is transforming the world’s oldest asset class: Farmland
While farmland is among the oldest investment classes around, the average investor hasn’t had access to farmland the way that billionaires and institutional investors have. That’s changing.