Welcome to For Millionaires Fintech (formerly The Interchange)! Every Sunday at 7:30 a.m in this edition, I’m going to look at some hits and misses in the real estate fintech space, Carta’s missteps (again), and more!To get a roundup of For Millionaires’s biggest and most important fintech stories delivered to your inbox. PT, subscribe right here


The huge story

Equity management system Carta was at the news headlines . . . once more. And never once and for all factors. Once Again. A customer that is prominent Carta of misusing sensitive information that startups entrust to the company in pursuit of its own goals. The claim raised wider questions about how Carta operates, even as Carta argued the incident was isolated, and led to the ongoing organization shutting down its secondary trading businesses. Just what exactly takes place to Carta today? Rebecca Szkutak does a dive that is deep. Meanwhile, Alex and Anna argued that Carta’s growth story is being overshadowed by its stock trading snafu.

Analysis of the week

The real estate fintech space continues to have its ups and downs. We started the week by reporting on the news that Here, a fractional vacation that is short-term market we initially reported on in 2022, had power down its financial investment system after only over 2 yrs of procedure. The organization reported it’s nevertheless live, but we’re uncertain exactly what’s left. Even though therefore companies that are many the industry have struggled or shut down, investors aren’t giving up on it.

I also reported this week on Downpayments’ mission to help investors purchase properties that are new interest-free down payments.Finally, we looked over Overmoon, that also features a model that is unique is a hybrid of Airbnb and hotels — but with the best of both worlds.

Listen to the Equity crew discuss Overmoon more here:

Dollars and cents

Latin American startups continue to attract venture dollars. We reported on two raises out of the region:

Conta Simples grabs another $41.5M for its expense management approach in Brazil

Prometeo raises $13M from PayPal, Samsung and more to bring banking that is open Latin The united states

Meanwhile, in Africa, YC-backed African fintech Cleva, established by Stripe and AWS alums, increases $1.5M pre-seed

And, right here into the U.S., Pier financial institutions $2.4M to launch ‘Stripe for credit’

just what else we’re composing

Deal diving: A Stripe secondary deal worth being attentive to: There evidently was a flurry of purchasers wanting to get stocks into the organization in present months.

Arc desires to make endeavor financial obligation preferred once more: Arc is dealing with the $30 billion endeavor financial obligation business with a marketplace that is new startups.

GenAI could make KYC effectively useless: There’s no evidence that GenAI tools have been used to fool a“know that is real customer” system — yet. However some reasonably convincing ID that is deepfaked are cause for alarm.Scoop:

Treasure Financial lays off staff just months after reporting growth’ that is‘explosive The layoffs impacted some 60% to 70percent regarding the organization.

Fintech-focused Vetamer Capital shuts down hedge fund

Analyzing Amazon’s financial services strategy: Where the retail titan is focusing its efforts in fintech

Fintech funding halved last year, but VCs are excited about these areas and deals In 2024

Dispatch raises $8M in seed funding

PitchBook analyst note: Vertical opportunities in a reopened IPO window

Tally isn’t adding up

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