PayPal has begun company-wide layoffs, according to multiple reports, including an article published by The Information. It is not yet clear at the time of writing how many people will be affected by the job cuts but one source told TechCrunch it was expected to be in the “thousands.” Update:...
Welcome to TechCrunch Fintech (formerly The Interchange)! In this edition, I’m going to look at Brex’s latest round of layoffs, the state of fintech investing in 2023 and more! I may be taking some time off in coming weeks but never fear, TechCrunch Fintech isn’t going away. We’ll be...
Bilt Rewards, whose platform aims to allow consumers to earn rewards on rent and daily neighborhood spend, has raised $200 million at a $3.1 valuation, the company announced today. General Catalyst led the financing, which more than doubles the New York-based company’s valuation compared to its $150 million October 2022...
Expense management startup Brex, which was valued at $12.3 billion two years ago, laid off 282 people, or about 20% of its staff today. The once high-flying fintech startup sent a note to employees (that was also published on the company’s website) today, announcing the news. In addition, Brex announced that...
Welcome to TechCrunch Fintech (formerly The Interchange)! In this edition, I’m going to look at a fintech being sold in a fire sale, a group of startup raises, and more! To get a roundup of TechCrunch’s biggest and most important fintech stories delivered to your inbox every Sunday at 7:30...
At a time where many startups are struggling to raise funding, or are raising – but at lower valuations, it’s notable when companies raise at flat or higher valuations. Especially when their last raise took place in 2021 – a time when capital was much easier to come by...
Argentinian payments infrastructure startup Pomelo has raised $40 million in a Series B round of funding. The Buenos Aires-based company started in 2021 with the goal of giving fintechs and embedded finance players a way to launch virtual accounts and issue prepaid and credit cards via compliant onboarding processes. Pomelo went live...
Welcome to TechCrunch Fintech (formerly The Interchange)! In this edition, I’m going to look at some hits and misses in the real estate fintech space, Carta’s missteps (again), and more! To get a roundup of TechCrunch’s biggest and most important fintech stories delivered to your inbox every Sunday at 7:30...
Treasure Financial has laid off 14 employees, the fintech startup confirmed to TechCrunch today. The layoffs took place in December. The move affected some 60% to 70% of the company, according to multiple sources familiar with internal operations. Sam Strasser, founder and CEO of Treasure Financial, told TechCrunch that “a need...
Exponent Founders Capital, an early-stage venture firm founded by alumni of startups such as Plaid, Robinhood and Ramp, has closed on $75 million in capital commitments, TechCrunch is the first to report. The firm, which is emerging from stealth today, raised $50 million for its first fund in November of...