TechCrunch Fintech
Welcome to TechCrunch’s fintech section! This week, we’re excited to share with you the latest developments in the world of fintech. From Stripe’s major product announcements to a bump in valuation for a Brazilian fintech startup, there’s plenty to explore.
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The Big Story
Stripe Announces Decoupling Payments from Financial Services Stack
In a major move, Stripe has announced that it will be decoupling payments from its financial services stack. This change is significant, as it means businesses no longer need to be payments customers in order to use any of the rest of Stripe’s services.
Alongside this announcement, Stripe is also introducing new embedded finance features and AI tools. The fintech giant has also stated that it will allow customers to accept cryptocurrency payments starting with USDC stablecoins on Solana, Ethereum, and Polygon.
Analysis: What This Means for Fintech
The decoupling of payments from the financial services stack is a significant change in the world of fintech. It opens up new possibilities for businesses and entrepreneurs looking to build and grow their companies. With this move, Stripe is positioning itself as a major player in the fintech space, competing with other giants like Square and PayPal.
Analysis of the Week
Brazil Gets a New Fintech Unicorn
Last week, banking-as-a-service startup QI Tech achieved unicorn status after raising an undisclosed amount of capital in a General Atlantic-led investment. This extension of its $200 million Series B raise is a testament to the growing interest in fintech in Brazil.
Meanwhile, another Brazilian startup, Vixtra, secured $36 million in debt and equity funding, demonstrating that companies in the region are continuing to attract venture dollars.
Dollars and Cents
Bump Raises $3 Million Seed Round
Platform Bump has announced a $3 million seed round with investments from ImpactX, Capitalize, and Serac Ventures. This startup allows creators to track income and market value, helping them negotiate better deals and see how much money partners owe them.
Fintoc Raises $7 Million Series A
Y Combinator alum Fintoc has raised a $7 million Series A round of funding to consolidate its presence in Chile and Mexico, where it expanded one year ago. This funding will enable the company to continue growing and expanding its services.
Pomelo Raises $35 Million Series A
Pomelo, a startup launched in 2022 that allows people in the US to send money to the Philippines while building their credit, has raised $35 million in a Series A round led by Dubai venture firm Vy Capital. This funding will enable the company to expand its services and reach more customers.
News Roundup
- Stripe’s decoupling of payments from its financial services stack is a significant change in the world of fintech.
- QI Tech has achieved unicorn status after raising an undisclosed amount of capital in a General Atlantic-led investment.
- Vixtra has secured $36 million in debt and equity funding, demonstrating that companies in Brazil are continuing to attract venture dollars.
- Bump has raised $3 million seed round with investments from ImpactX, Capitalize, and Serac Ventures.
- Fintoc has raised a $7 million Series A round of funding to consolidate its presence in Chile and Mexico.
- Pomelo has raised $35 million in a Series A round led by Dubai venture firm Vy Capital.
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