Welcome to For Millionaires Fintech (formerly The Interchange)! A group of startup raises, and more!To get a roundup of For Millionaires’s biggest and most important fintech stories delivered to your inbox every Sunday at 7:30 a.m in this edition, I’m going to look at a fintech being sold in a fire sale. PT, subscribe right here

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The huge story

The tale goes on. In mid-May, TC’s Manish Singh stated that creators of ZestMoney had resigned through the startup. The Indian fintech, whose capability to underwrite ticket that is small to first-time internet customers, once drew the backing of many high-profile investors, including Goldman Sachs. By December, ZestMoney was shutting down following efforts that are unsuccessful get a hold of a buyer. Then, the other day, the organization, that was as soon as respected at $450 million, had been offered to DMI in a “fire sale.”

Analysis associated with few days$10 million Series AOne of the very most fun areas of becoming a reporter is monitoring organizations’ development through the years. In 2020, We composed about Briq’s

and its own goal to carry fintech into the building business. A week ago, we covered its $8 million show B expansion at a $150 million valuation, in addition to its AI-related development programs. In 2021, We reported on Argentinian repayments infrastructure startup Pomelo’s $9 million seed raise. A week ago, we covered its $40 million Series B financing therefore the proven fact that it expanded income by 200per cent in 2023. I like seeing organizations We reported on during the stages that are early in the game, and growing! This is how investors must feel.

Dollars and cents

Christine Hall was busy week that is last

Digital Onboarding grabs $58M to aid financial institutions with lucrative consumer engagement: Communications from banking institutions is normally paper-based, which frequently causes between 25per cent and 40% of the latest checking records closed inside the year that is first. This SaaS startup wants to fix this.

Kashable banks $25.6M to offer lending that is employment-based More businesses tend to be incorporating financial loans with their staff member advantages and benefits, and several startups have actually hopped into this industry to aid. Fintech organization Kashable could be the most recent.

Tandem offers ‘modern couples’ app to handle funds collectively and independently: Meet Tandem — a fintech that is new that addresses the first financial milestones for couples and grows with the relationship – which just raised $3.7 million.

What else we’re writing

African neobank Kuda tried to raise $20M at flat valuation in 2023, missed user milestone projection by 3M: Earlier this month, Kuda co-founder and CEO Babs Ogundeyi told users that the Nigerian online challenger bank had reached almost ₦56 trillion (~$60 billion) in transaction value since its 2019 launch. Ogundeyi also said that Kuda had achieved a milestone that is notable with 7 million retail and company clients to date. Nonetheless, the figure falls in short supply of the fintech’s forecasts when it desired fresh financial investment year.signaled its intent to expand internationally and grow beyond its core e-commerce businessOther that is last high-interest headlinesPaystack: “Stripe’s investments through mid-2021

Cross-border payments fintech Neo hits profitability after year of rapid growth. Stripe acquired Nigeria-based

in 2020 — extending its reach in Africa — after participating in the payment startup’s Series A in 2018.” That level of investing has slowed dramatically, according to CB Insights data.

: “The Barcelona-based fintech which provides a one-stop-shop multi-currency account for corporate treasurers recorded an annual revenue in excess of €5 million and an annual profit of €1 million,” reports Fintech Finance News.

Podcasts worth checking outAileen LeeThe other side of AI hype: Alex Wilhelm and I do quick dives into the raises of Pomelo, Briq and Tandem, and much more!

Back in the Unicorn Club with Cowboy Ventures’ Aileen Lee: Alex Wilhelm and I invited Cowboy Ventures’

to chat through her massive new article concerning the unicorn world. @bayareawriterICYMI: I had a blast interviewing investor that is pre-seed Ventures’ Jenny Fielding. Mouse click below to concentrate!

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