THIS WEEK’S FUNDING NEWS OVERVIEW
For the past week’s funding news overview, we recommend reading our weekly #DoneDeal newsletter 👇
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👀 NEWS HIGHLIGHT
Bilt Rewards entered unicorn status after securing $150 million in a growth round led by Left Lane Capital.
We previously covered Bilt a year ago when the company raised $60 million in growth funding on a $350 million valuation. This investment raises that to $1.5 billion and gives the company about $213 million in total funding.
👉 Read the full Techcruch article here.
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📰 ARTICLE
PayPal announced that passkeys are being added as a new, password-less login method to secure PayPal accounts for iPhone, iPad, and Mac users on PayPal.com.
PayPal passkeys are rolling out to US customers today and will be available to “additional countries” in early 2023.
👉 Read the full The Verge article here.
💬 INTERVIEW
Some senior leaders at Silicon Valley fintech giant Stripe, have asked managers to start giving lower ratings on performance reviews, current and former employees say.
Forbes spoke to ten former and current Stripe employees for this story; all asked to remain anonymous. In interviews and in comments online, workers say Stripe’s recent moves have exacerbated a lack of “psychological safety” at the hard-charging private company, leaving some afraid to speak up or express dissenting opinions.
👉 Read the full Forbes article here.
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
🇺🇸 NATIONAL HIGHLIGHTS
⭐️Synctera announced the launch of two products that will allow FinTech builders to launch a wider range of products. Link here.
⭐️Kata.io introduces a full-service financial platform for e-commerce to simplify financial management and expense control. Link here.
⭐️Hello Divorce raised $3.25m in a seed funding round led by The Artemis Fund. Link here.
⭐️Bookkeep announced a $6.6 million seed+ round of funding. Link here.
⭐️ Upkeep announced it has secured $2 million in Seed funding. Link here.
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DIGITAL BANKING
Current announced it has successfully migrated to the Visa DPS Forward platform with a seamless migration of over four million accounts. Link here.
Galileo Financial Technologies, LLC and Technisys are proud to announce a new offering, Cyberbank Digital as a managed service. Link here.
Moven is partnering with upSWOT, a leading fintech platform that enables service providers to support the success of SMB customers with data-driven embedded finance tools. Link here.
VC FUNDS
JPMorgan Chase & Co is launching a platform that aims to connect startup founders with venture capital investors to simplify the fundraising process. Link here.
PAYMENTS
Cardless is planning a digital-first rewards credit card with American Express that targets shoppers at stores and restaurants leasing space from Simon Property Group. Link here.
Apple launched Apple Pay, an ambitious vision to revolutionize payments mobility and security. The product promised to replace cards at the point of sale with digital wallets conveniently located in their iPhones. Link here.
Finexio announces the successful completion of an oversubscribed $35 million Series B funding round at a $100 million pre-money valuation. Link here.
Amazon announced that it will now allow customers to make payments through Venmo on its platform. Link here.
Group payments platform Collctiv has launched in the USA. Link here.
JPMorgan Chase merchants can now receive payments through Meta Pay. Link here.
Jack Henry is leveraging its recent acquisition of the Payrailz payments platform with the launch of a standalone person-to-person (P2P) payments solution. Link here.
BNPL
Credit Key secured a $100 million debt facility and a $15 million equity round. Link here.
Sezzle signed a new $100 million credit facility with affiliates of Bastion Management. Link here.
Zip Co announces availability of Zip Card, issued by WebBank. Link here.
OPEN BANKING
Synapse announced a partnership with American Bank, to enable fintech companies to build and deliver innovative digital financial services to their customers. Link here.
CRYPTO
Ottr Finance raises $3.1 million pre-seed funding. Link here.
INVESTMENT
Landis grabs $40M to turn renters into homeowners. Link here.
Dodl by AJ Bell is announcing the launch of US share dealing via the app. Link here.
GREEN FINANCE
ecolytiq makes the jump across the Atlantic as it launches the “Carbon Counter” banking web application with the Vancouver-based co-op credit union Vancity. Link here.
FRAUD PREVENTION
Callsign announced its Dynamic Interventions capability controlled by its Orchestration Engine. Link here.
Veriff announced a new social security number (SSN) verification offering built to further streamline and secure the identity verification (IDV) processes of U.S. citizens. Link here.
FINANCIAL LITERACY
MoneyLion Inc. announced it launched MoneyLion University as part of a groundbreaking, innovative financial literacy initiative aimed at filling a gap in money education across the United States. Link here.
If you are a fintech startup and have over 100 questions send me an email, maybe I can answer a few.