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After calling off its plans to go public via a SPAC at a $10.4 billion valuation in 2022, trading platform eToro has secured $250 million in funding at a $3.5 billion valuation. The money is not a typical equity round: it comes by way of an Advanced Investment Agreement (AIA), eToro founder and CEO Yoni […]
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Signature Bank is the second casualty of the ongoing banking crisis in the U.S. The New York-based financial institution stopped operating abruptly on Sunday — customers will be made whole. Regulators said that Signature Bank also caused a systemic risk and could threaten the U.S. banking system. In other words, the government is stepping up […]
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The all-in-one fintech app Revolut has released its annual report for 2021. While 2021 ended more than a year ago, this report includes some significant figures as the company nearly tripled its revenue between 2020 and 2021. Because of this explosive growth trajectory, the company reached profitability for the first time. Revolut’s financial success starts […]
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The Linux Foundation‘s European off-shoot has formally launched the OpenWallet Foundation (OWF), a new collaborative effort designed to support interoperability between digital wallets through open source software. The launch comes some five months after the Linux Foundation first revealed plans to set up the OWF, shortly before it spun out a region-specific entity called the […]
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African cross-border payments platform Chipper Cash conducted a second round of layoffs last Friday just ten weeks after it cut approximately 12.5% of its workforce (affecting its engineering team the most). The company’s V.P. of revenue shared the news on LinkedIn, saying “all areas” across Chipper Cash’s markets were impacted this time. “Friday was a […]
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Citing economic turbulence, buy now, pay later giant Affirm announced today that it is reducing its staff by 19%, or about 500 employees, and shutting down its crypto unit. That leaves the company with about 2,000 employees. In a written statement, Founder and CEO Max Levchin said that he takes “full responsibility for this decision […]
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FrankieOne, a Melbourne-based startup that provides an API platform for identity verification and fraud detection, said it has added $23 million AUD (about $15.4 million USD) in a Series A+, taking its Series A’s total to $45 million AUD (about $30 million USD). FrankieOne says this is the largest amount of VC funding raised by […]
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Ejara, a Cameroonian fintech offering an investment app that allows users to buy crypto and save through decentralized wallets, has raised $8 million in Series A investment. London-based venture capital firm Anthemis co-led the growth round alongside crypto-focused fund Dragonfly Capital. Anthemis is a follow-on investor in Ejara, having also led the fintech’s $2 million […]
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Startups serving startups feels a bit riskier in a post-FTX cryptocurrency era. Here’s how Ramp, Brex, and Rain are thinking.
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Shares of Coinbase and Robinhood up? In this economy? Yes.
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