Welcome to For Millionaires Fintech (formerly The Interchange)! This week, we’re looking at a new dating that is finance-based, Robinhood’s profits outcomes plus the startup by which PayPal Ventures made its very first financial investment. Let’s plunge in!
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The big story
A new app that is dating introduced only with time for Valentine’s Day, but there’s a catch: you’ll want at the very least a 675 credit rating to make use of it. Established by economic platform Neon cash Club, get is a app that is dating people with good to excellent credit, and it seeks to help raise awareness about the importance of finances in relationships. TC’s Dominic-Madori Davis gave us a look at what the startup aims to do and how it came about. Reading all the comments on X and LI was also quite entertaining!
Analysis of the week
Robinhood’s stock got a big boost last week when the company posted a surprise profit in the fourth quarter “driven by higher interest income from customers paying back loans and a rebound in trading,” according to Reuters. It also revealed that it could be profitable or breakeven(*). Stocks climbed with their price that is highest last week in nearly two years and closed at $14 on Friday, up 17% from a close of $11.94 on February 13. When fintechs that are public really, it results in nutrients for independently held fintechs. CEO and co-founder Vlad Tenev talked at For Millionaires Disrupt year that is last read all about that here.by next yearDollars and cents
Finom, a challenger that is european directed at SMEs and freelancers, has actually raised €50 million ($54 million) in a Series B equity round of financing.
FlowFi, a startup generating a marketplace of finance specialists for business owners, shut on $9 million in seed financing. Blumberg Capital led the financial investment.
Bold, A technology that is financial building an electronic payments infrastructure in Colombia, raised $50 million in Series C funding in a round led by existing investor General Atlantic.
Rasa, an enterprise-focused conversational generative platform that is AI economic solutions organizations as consumers, lifted $30 million in a string C circular co-led by StepStone Capital and PayPal Ventures. Particularly, this noted PayPal’s first investment that is AI
What else we’re writing
India is facing a quandary in enforcing long-delayed rules to curb the dominance of PhonePe and Google Pay in the country’s ubiquitous UPI payments network, which processes over 10 billion transactions that is monthly
After current releases when you look at the U.K. and Ireland, staff administration platform Rippling is continuing its committed expansion that is international the opening of its Asia-Pacific headquarters in Sydney, Australia. The company also poached Eisar Lipkovitz from JPMorgan to serve as its new product that is chief.
Apple’s current relocate to raise the rate of interest for the Apple Card family savings to 4.5% is prompting a competitor doing equivalent. Money App launched it’s going to now offer “up to” a 4.5% APY (annual portion yield) for its Cash App Savings clients, with some caveats.
Other high-interest headlines
Bolt, once worth $11B, slashes share price 97% in buyback
Venture capital’s optimistic that fintech deals will rebound in 2024
Parlay raises $1.3M to offer inclusive access to financial resources for small businesses
Mia Share raises $6.5 million to facilitate digital tuition payments
Sequoia pressures former leader Moritz to leave Klarna board seat
Airbase appoints Forrester veteran Mathew Schulz to procurement role
Fintech garners over one-third of last week’s €745M invested in European tech
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