Braid, a four-year-old startup that aimed to make shared wallets more mainstream among consumers, has shut down. Founded in January 2019 by Amanda Peyton and Todd Berman (who left in 2020), San Francisco-based Braid set out to offer friends and family an FDIC-insured, multi-user account that was designed to make it easy “to pool, manage…
Getsafe, a German-based digital insurtech startup, has acquired the German portfolio of Luko, a French insurtech startup that recently neared insolvency before agreeing to be acquired by British insurer Admiral Group in a transaction that didn’t include its German or Spanish operations. Getsafe is now present in four countries since its expansion into France. Luko’s own…
Welcome back to The Interchange, where we take a look at the hottest fintech news of the previous week. If you want to receive The Interchange directly in your inbox every Sunday, head here to sign up! After a bit of a quiet period, things in the world of fintech picked up in a big way this…
Banking-as-a-service startup Synapse confirmed today that it has laid off 86 people, or about 40% of the company. The San Francisco-based company, which operates a platform enabling banks and fintech companies to easily develop financial services, has been open about past layoffs. In June, CEO Sankaet Pathak wrote in a blog post that the company…
There haven’t been many neobanks cropping up lately, so I was a little surprised to learn that Lupiya recently raised a $8.3 million Series A. The company claims it is trying to make the world better “by creating a landscape that promotes an economically empowered Zambia.” For the 69th installment (nice!) of the Pitch Deck…
Listen here or wherever you get your podcasts. Hello and welcome back to Equity, a podcast about the business of startups, where we unpack the numbers and nuance behind the headlines. This is our Friday show, and we’re talking about the week’s biggest startup and tech news. It’s a roundup of sorts, but tuned to what we…
A number of venture investors and startups are engaging with Bank of Baroda to acquire a stake in the lender’s subsidiary Nainital, according to people familiar with the matter. Premji Invest, stock broking giant Zerodha and Peak XV-backed fintech startup MobiKwik are among the prospective backers that have held conversations with Bank of Baroda, which…
PayPal has been hit with a class action lawsuit by consumers represented by law firm Hagens Berman alleging that the fintech giant’s anti-steering rules stifle competition against lower-cost payment platforms such as Stripe and Shopify. Specifically, according to an investigation conducted by the firm’s consumer rights attorneys, PayPal has subjected consumers to excess charges when…
If you don’t know your company’s financial status, it is difficult to make decisions for the betterment of the company. This is where Cobre comes in. The Colombia-based startup developed a corporate treasury platform to give chief financial officers more visibility and control over their company’s financial transactions, specifically, to centralize, digitize and automate their…
CRED grew its operating revenue by a staggering 255% to $168.1 million in the financial year ending March as the fintech startup, which garners an unusually high level of attention, finds rising adoption of its lending and commerce offerings among India’s affluent individuals. The Bengaluru-headquartered startup had a total income of about $50 million in…