THIS WEEK’S FUNDING NEWS OVERVIEW
For the past week’s funding news overview, we recommend reading our weekly #DoneDeal newsletter 👇
👀 Are you interested in funding news from the FinTech space?
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👀 NEWS HIGHLIGHT
PayPal announced the rollout of the PayPal Zettle Terminal to small businesses in the U.S. following its launch in European markets last year.
Terminal is an all-in-one point-of-sale solution that offers increased mobility in-store for small businesses.
👉 Read the full Newsroom article here.
😎 SPONSORED CONTENT
Contis helps organisations unleash their true potential with award-winning, cloud-based Banking-as-a-Service solutions. With Contis you can put next-generation cards, accounts, and apps in your customer’s hands.
📰 ARTICLE
How a new anti-woke bank stumbled.
GloriFi CEO Toby Neugebauer won over A-list investors to build a bank for people who consider Wall Street too liberal. Within months it was nearly bankrupt.
👉 Read this great Wsj long read article "How a New Anti-Woke Bank Stumbled" by Rachel Louise Ensign, Peter Rudegeair and AnnaMaria Andriotis here.
🎤 PODCAST
On this episode of Office Hours, the founder and CEO of Varo joins host Spencer Rascoff to talk about how the startup became a chartered bank and why younger generations are changing the financial services industry.
👉 Listen to the full Office Hours podcast episode here.
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
🇺🇸 NATIONAL HIGHLIGHTS
⭐️Brex, valued at $12.3B earlier this year, lays off 11% of staff as part of restructuring. Link here.
⭐️Step launched a crypto investing feature to the nearly 4 million users on its platform. Link here.
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DIGITAL BANKING
Apiture has been tapped by Newtek Business Services, a business development firm, to provide the digital capabilities for its soon-to-be-launched Newtek Bank. Link here.
Clinc and Alkami Technology, Inc. announced a partnership to bring Clinc’s conversational AI into the Alkami platform to be available for all of their financial institution clients. Link here.
Jiko banks $40M in Series B funding to offer companies a way to park their cash in T-bills. Link here.
PAYMENTS
A new policy update from PayPal will permit the firm to sanction users who advance purported “misinformation” or present risks to user “wellbeing” with fines of up to $2,500 per offense. Link here.
Galileo Financial Technologies announced that it has become Visa Ready certified as an issuer processor for its PCaaSA technology for card issuing. Link here.
CRYPTO
What Elon Musk’s X.com + Twitter “super app” ambition means for fintech and crypto. Link here.
ZenLedger announced the company is accepting cryptocurrency as payment for goods and services using BitPay, the world's largest provider of Bitcoin and cryptocurrency payment services. Link here.
Bank of New York Mellon Corp. is now open for crypto business. Link here.
INVESTMENT
Real estate investing app Fintor raises $6.2M at $80M valuation. Link here.
Front launches API platform to be the Plaid of crypto and DeFi. Link here.
If you are a fintech startup and have over 100 questions, send me an email. Maybe I can answer a few.