Fintech
From Brex executive to venture capitalist
Welcome to TechCrunch Fintech! This week, we’re watching a Brex executive jump to join venture capital firm a16z, Klarna’s sale of its payments unit, and some mega-raises.
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The big story
Ali Rathod-Papier has resigned from her role as global head of compliance at corporate card expense management startup Brex TO join venture firm Andreessen Horowitz (a16z) as a partner and compliance officer, TechCrunch has learned exclusively. The hire comes at an interesting time for a16z, which had invested in Synapse, the banking-as-a-service startup that filed for bankruptcy in April and has since under fire for an estimated $85 million worth of missing customer funds. Also another Brex executive, Sam Blond (former chief revenue officer). he left the company become a venture capitalist. But it’s over resigning from his role at Founders Fund earlier this year, saying at the time “full-time investing/being a VC is not the right fit for me.”
Analysis of the week
Gyngera platform that lends capital to companies for technology purchases raised 20 million dollars in a Serie A round led by PayPal Ventures. There are many companies out there that help startups finance technology purchases through a variety of methods. Gynger’s model stands out because it works for both buyers and sellers of technology. The startup offers technology vendors a way to offer integrated financing through an accounts receivable platform that provides “flexible” payment terms. To date, Gynger has facilitated thousands of payments for its customers across hundreds of providers, including AWS, Google Cloud, and Okta.
Dollars and cents
Finbournewhich created a platform to help financial companies organize and use more data in artificial intelligence and other models, raised 70 million dollars with a post-money valuation of just over $356 million.
Cadanawhose APIs and white-label products enable global workforces to integrate payments and payroll into their existing systems, has emerged stealthily with a total of Funding of $7.4 million.
Based in Paris Herowhich is building an ambitious banking product for small businesses, it did raised a $12.2 million all-equity funding round driven by Valar Ventures.
Matterthat integrates into a company’s existing workflow software and applications to help break down existing silos in accounting firms’ unstructured data warehouses, has it snuck out with $6.3 million in funding.
What else are we writing
Four years after the acquisition Splendora French fintech startup offering bank accounts to freelancers and very small companies, General Society announced plans to sell Shine to Ageras. In 2020, TechCrunch reported that Société Générale spent around 100 million euros to acquire Shine. It wasn’t a huge acquisition, but it attracted quite a bit of coverage at the time, as it was more than just a technology or talent deal. Romain Dillet gives us the scoop Here.
Titles of great interest
Elon Musk’s X-rated revenue has officially plummeted, new documents show
Revolut seeks valuation of more than $40 billion in employee share sale
Celcoin raises $120.5 million for new mergers and acquisitions
Mexican fintech unicorn Clip gets $100 million investment
Amplify Life Insurance Raises $20 Million in Series B Funding
Klarna rival Zilch raises $125 million as it aims to triple sales and accelerate its path to IPO
Verituity Raises $18.8 Million for Payment Verification
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