Welcome to Fintech TechCrunch! This week, we look at Stripe’s big product announcements, a Brazilian fintech startup’s valuation boost, and more!
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The big story
Band announced that it would be decoupling of payments of the rest of its financial services lineup. This is a significant change, given that in the past, even as Stripe expanded its list of services, it required businesses to be payment customers in order to use any of the others. Alongside this, the company is adding a number of new built-in financial features and a new wave of AI tools. The fintech giant also announced that after a six-year hiatus, it allow customers to accept cryptocurrency paymentsstarting with just one currency in particular, USDC stablecoins, initially only on Solana, Ethereum and Polygon.
Analysis of the week
Last week, Brazil welcomed a new fintech unicorn. A startup specializing in banking services QI Technology reached unicorn status after raising an undisclosed amount of capital in an investment led by General Atlantic that was an extension of its $200 million Series B fundraisingwhich TechCrunch reported on last October. QI Tech said it was also preparing to close the acquisition of Singulare, a Brazilian fund administration service provider, in the third quarter. Meanwhile, another Brazilian startup, Vixtra, secured $36 million in debt and equity financing — another example of companies in the region that continue to attract venture capital.
Dollars and cents
Bumpa platform that helps creators manage and grow their businesses, announced $3 million funding roundwith investments from ImpactX, Capitalize, and Serac Ventures. Bump allows creators to track revenue and market value, which can help them negotiate better deals and see how much money their partners owe them.
Y Combinator alumnus and B2B fintech startup Fintoc raised $7 million in Series A funding round to consolidate its presence in its home country, Chile, and in Mexico, where it expanded a year ago.
Pomeloa startup launching in the Philippines in 2022 — allowing people in the United States to send money back home while building their credit — has raised $35 million in Series A round led by Dubai venture capital firm Vy Capital with participation from Founders Fund.
You can hear the Equity team talk about this deal and more here:
What else do we write?
Based in Bengaluru CREDIT, valued at $6.4 billionreceived approval in principle for a payment aggregator license a boost for the Indian fintech startup that could help it better serve customers, launch new products and experiment with ideas faster.
Closing a startup can be a bittersweet experience for founders. In the case of FondideRising interest rates killed the corporate finance startup. But VCs and partners hurt it too, founder Stefanie Sample says in this captivating reading by Christine Hall.
After a tumultuous year, banking-as-a-service (BaaS) startup Synapse has filed for Chapter 11 bankruptcy and its assets will be acquired by TabaPay.
High Interest Securities
401Go Raises $12M in Series A to Fuel Next Phase of Growth
Ramp vs. Brex risks becoming the Uber vs. Lyft of fintech, some venture capitalists warn
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