March 28, 2024

Web and Technology News

Nymbus lands $70M to help banks digitally transform

Nymbus, a startup that partners with banks to migrate their legacy stack and launch neobanks to attract new customers, today announced that it raised $70 million in a Series D round led by Insight Partners. The Banc Funds Company and Mendon Venture Partners participated also, as did Nymbus clients ConnectOne Bank and PeoplesBank. According to […]

Nymbus lands $70M to help banks digitally transform by Kyle Wiggers originally published on TechCrunch

SBM Bank India, building BaaS platform, seeks funding at $200 million valuation

The Indian arm of SBM Bank, one of the banks that has aggressively worked with fintech startups in the South Asian market, is engaging with investors to raise capital and pitching the vision of becoming one of the top banking-as-a-service providers in the country, according to a source familiar with the matter. The Indian arm […]

SBM Bank India, building BaaS platform, seeks funding at $200 million valuation by Manish Singh originally published on TechCrunch

Daylight, the LGBTQ+ neobank, raises cash to launch subscription plan for family planning

A day after a bill that would codify same-sex marriage in the U.S. cleared a key hurdle in the Senate, Daylight, a digital bank that pitches itself as LGBTQIA+-friendly, closed a $15 million Series A round led by Anthemis Group with participation from CMFG Ventures, Kapor Capital, Citi Ventures and Gaingels. Daylight Co-founder and CEO […]

Daylight, the LGBTQ+ neobank, raises cash to launch subscription plan for family planning by Kyle Wiggers originally published on TechCrunch

Meet the Extreme Tech Challenge 2022 Global Finals category finalists and special award winners

Extreme Tech Challenge (XTC), the world’s largest startup competition focused on purpose-driven innovation, and sponsor of TechCrunch Sessions: Climate, has chosen 10 category finalists and three Special Award winners to compete at the XTC 2022 Global Finals at the climate conference on June 14, 2022 at UC Berkeley. Due to the exceptional applicant pool this […]

Coralogix streams $142M into its coffers to expand its production analytics into a full-stack observability platform

We’ve long documented the challenges that DevOps and operations teams in specific areas like security face these days when it comes to data observability: a wide range of services across the landscape of an organization’s network translates into many streams of data that they need to track for performance, security and other reasons. That’s leading […]

Y Combinator-backed fintech Pebble uses stablecoins to offer 5% yield on cash

As equities continue to trade down from recent peaks, investors are searching for higher returns. Some have turned to the crypto-based decentralized finance (DeFi) realm, where yields from lending and staking cryptocurrency can range from 1% to as high as 15% for riskier projects. Others are looking at high-yield savings accounts like the one from […]

How Untapped Global plans to bring the revenue financing model to African startups

In the developed world, almost anyone can get financing for, say, a car lease. But in an emerging economy like South Africa, the only people who own cars or can even get a car lease are the people who already have something to collateralize, or a payslip to work off. As a result, small businesses, […]

Sachin Bansal’s firm fails to secure India bank permit

The Indian central bank has rejected the application of Chaitanya India Fin Credit seeking permission to become a bank in a major setback to Flipkart billionaire Sachin Bansal, who has been looking to take his newer venture, Navi, public. The Reserve Bank of India on Tuesday rejected four applications including Bansal’s Chaitanya (the micro financing […]

Classiq raises additional funding for its quantum algorithm design tools

Tel Aviv-based Classiq, a startup that wants to make it easier for developers to build quantum algorithms and applications, today announced that it has raised additional funding for its service by adding HSBC, NTT Finance, and Intesa Sanpaolo as new investors to its $33 million Series B round, which brings the round to $36 million […]

Robinhood aims to court users by offering attractive 1% interest rate on cash

Investing app Robinhood is on a roll with announcing new features as it looks to appeal to more customers amid dwindling transaction revenue. Less than a week after unveiling plans to allow users to lend out their stock, the company announced that it has introduced a “revamped” brokerage cash sweep program that will be rolled […]

China’s internet users are paying close attention to the crypto crash

While China has banned cryptocurrency trading, its people remain interested in the ups and downs of the crypto market, not least because many of them have found workarounds and continue to buy and sell all sorts of tokens. Bitcoin’s price continued to crater on Monday after a rough weekend, down more than 50% from its […]

Stripe flexes its fintech muscle with Financial Connections to pull banking data automatically

Stripe, the payments behemoth valued at $95 billion a year ago and now reportedly inching closer to an IPO, today announced a new product that fills in some significant gaps in its play to be the financial services layer for merchants and other businesses whose models are based on enabling transactions. It’s taking the wraps […]

Robinhood to let users lend out their shares in its attempt to diversify revenue

Trading platform Robinhood is launching a feature that will allow its users to lend out their stocks in hopes of earning passive, recurring income from borrowers, the company announced today. Robinhood says the feature is currently being rolled out and will be available to all customers by the end of the month. The news comes […]

New bank, who dis? Lifestyle-focused neobank Cogni pivots to web3

Digital banking startup Cogni is joining the ranks of companies hopping on the crypto bandwagon. The mobile-based platform, founded in 2016 out of Barclays’ accelerator program (which is operated by Techstars), launched with the intent to offer personalized banking products suited to the lifestyles of those in the 18-to-35 crowd, CEO and founder Archie Ravishankar […]

Plaid cofounder’s next venture is a bank to power fintech apps

In 2019, William Hockey, the cofounder of fintech business Plaid, announced that he would step down from his position as Plaid’s chief technology officer and president. Having helped to grow Plaid into a multi-billion-dollar business with fellow cofounder Zach Perret, Hockney left for other pursuits and to — as he put it in a June […]

Creative Juice launches a $50M fund to invest in creators

A banking app built for online creators, Creative Juice announced its $50 million fund to underwrite creator businesses. YouTubers and other social media stars stars can apply for upfront cash to grow their businesses in exchange for a cut of their revenue over a certain period of time, usually between six months and three years. […]

Fintech NovoPayment raises first venture round in 15 years to expand its full-stack banking API platform

The digital transformation of banking and payments services is a red-hot trend that’s shown no signs of slowing down. Banking-as-a-service (BaaS) products like Synapse, Unit, and Bond have helped fuel the shift by allowing companies to quickly spin up new financial services using APIs. NovoPayment is a global BaaS startup based in Miami that has largely been focused […]

Fintech NovoPayment raises first venture round in 15 years to expand its full-stack banking API platform

The digital transformation of banking and payments services is a red-hot trend that’s shown no signs of slowing down. Banking-as-a-service (BaaS) products like Synapse, Unit, and Bond have helped fuel the shift by allowing companies to quickly spin up new financial services using APIs. NovoPayment is a global BaaS startup based in Miami that has largely been focused […]

Zambian card issuing startup Union54 raises $12M led by Tiger Global

Zambian card issuing fintech Union54 has raised $12 million in a seed extension round led by Tiger Global. Other participating investors in this financing include existing ones such as Vibe VC and new investors Earl Grey Capital and Packy Mccormick’s Not Boring Capital. It’s been only six months since Union54, whose API allows African software […]

Salsify secures $200M as the boom in e-commerce catapults its valuation to $2B

E-commerce is booming, but it’s become increasingly apparent over the years that the businesses that are able to capitalize on that trend — and contribute to that growth — are those able to grasp the right technology to navigate the space. Today, Salsify, one of the startups building e-commerce solutions to that end, is announcing […]

Wagestream, a financial super app for waged workers, raises $175M, passes 1M users and doubles down on the U.S.

Front-line workers and those paid in hourly wages rather than salaries have become a prime target in the world of business IT, with a wave of apps helping them find jobs, do their jobs, communicate with each other better. In the latest development, a UK startup building what it describes as a financial “super app” […]

Ukraine disrupts attempt by Russian hackers to take down energy provider

The Computer Emergency Response Team of Ukraine (CERT-UA) has disrupted an attempt by Sandworm, a hacking group known to work for Russia’s military intelligence, to take down a Ukrainian energy provider.  The Russia-backed hacking group attempted to disconnect the unnamed provider’s electrical substations using a new version of the infamous Industroyer malware, CERT-UA said in a […]