Read the latest news and coverage of fintech, which stands for “financial technology,” focusing on everything from disruptor banks and innovations at established financial institutions to expense management startups, P2P payment services, checkout tools and the technologies that enable them.

Ali Rathod-Papier has stepped down from her role as global head of compliance at corporate card expense management startup Brex to join venture firm Andreessen Horowitz (a16z) as a partner…

Brex’s compliance head has left the fintech startup to join Andreessen Horowitz as a partner

Gynger, a platform that lends capital to companies for technology purchases, has raised $20 million in a Series A round led by PayPal Ventures, it told TechCrunch exclusively. The financing…

PayPal Ventures leads $20M round into Gynger, which offers companies ‘buy now, pay later’ for technology purchases

The U.S. is facing an accountant shortage. Fewer first-time candidates took the CPA exam in 2022 than in 2006, according to the American Institute of Certified Public Accountants. One possible…

Materia looks to make accountants more efficient with AI 

The global freelancer market, a $1.3 trillion industry fueled by more than 200 million knowledge workers, drives demand for solutions that automate payroll and streamline employment and tax regulations worldwide.…

Cadana, an emerging markets payroll services provider for global hiring platforms, banks $7.1M seed

Hero, a new fintech startup based in Paris, is announcing an €11.3 million all-equity funding round led by Valar Ventures ($12.2 million at today’s exchange rate). For the past couple…

Hero wants to save the day for companies facing a working capital crunch

Four years after acquiring Shine, a French fintech startup that offers bank accounts to freelancers and very small companies, Société Générale has announced plans to sell Shine to Ageras. In…

Société Générale to sell its freelancer challenger bank Shine to Ageras

Welcome to TechCrunch Fintech! This week, we’re looking at layoffs at BaaS startup Unit and car insurance company Loop, as well as Brex’s decision to abandon its co-CEO model, Apple…

Unit and Loop lay off staff and Brex ditches co-CEO model

Finbourne, founded out of London’s financial center, has built a platform to help financial companies organize and use more of their data in AI and other models.

Finbourne taps $70M for tech that turns financial data dust into AI gold 

AccountsIQ, a Dublin-founded accounting technology company, has raised $65 million to build “the finance function of the future” for midsized companies.

AccountsIQ takes in $65M to boost bookkeeping with AI

Since fintech startup Brex’s inception in 2017, its two co-founders Henrique Dubugras and Pedro Franceschi have run the company as co-CEOs. But starting today, the pair told TechCrunch in an…

Fintech Brex abandons co-CEO model, talks IPO, cash burn and plans for a secondary sale

India’s largest wealth manager focused on ultra-high-net-worth individuals, 360 One WAM, has agreed to acquire popular Indian mutual fund investment app ET Money for about $44 million. Earlier called IIFL…

India’s 360 One acquires mutual fund app ET Money for $44M

InScope leverages machine learning and large language models to provide financial reporting and auditing processes for mid-market and enterprises.

Lightspeed Venture Partners leads $4.3M seed in automated financial reporting fintech InScope

Featured Article

Let there be Light! Danish startup exits stealth with $13M seed funding to bring AI to general ledgers

It’s not the sexiest of subject matters, but someone needs to talk about it: The CFO tech stack — software used by the chief financial officers of the world — is ripe for disruption. That’s according to Jonathan Sanders, CEO and co-founder of fledgling Danish startup Light, which exits stealth…

12:00 am PDT • June 12, 2024
Let there be Light! Danish startup exits stealth with $13M seed funding to bring AI to general ledgers

Welcome to TechCrunch Fintech! This week, we’re looking at Rippling’s controversial decision to ban some former employees from selling their stock, Carta’s massive valuation drop, a GenZ-focused fintech raise, and…

Rippling’s tender offer decision draws mixed — and strong — reactions

Carlo Kobe and Scott Smith believed so strongly in the need for a debit card product designed specifically for Gen Zers that they dropped out of Harvard and Cornell at…

Kleiner Perkins leads $14.4M seed round into Fizz, a credit-building debit card aimed at Gen Z college students

Stock-trading app Robinhood is diving deeper into the cryptocurrency realm with the acquisition of crypto exchange Bitstamp.

Robinhood acquires global crypto exchange Bitstamp for $200M

Torpago’s Powered By product is geared for regional and community banks, with under $20 billion in assets, to launch their own branded cards and spend management programs.

Fintech Torpago has a unique way to compete with Brex and Ramp: Turning banks into customers

Inflation and currency devaluation have always been a growing concern for Africans with bank accounts.

Starting in war-torn Sudan, YC-backed Elevate now provides fintech to freelancers globally

The tension between incumbents and fintechs has existed for decades. But every once in a while, the two groups decide to put their competition aside and work together. In an…

When foes become friends: Capital One partners with fintech giants Stripe, Adyen to prevent fraud

Welcome to TechCrunch Fintech! This week, we’re looking at LoanSnap’s woes, Nubank’s and Monzo’s positive milestones, a plethora of fintech fundraises and more! To get a roundup of TechCrunch’s biggest…

A look at LoanSnap’s troubles and which neobanks are having a moment

Featured Article

After raising $100M, AI fintech LoanSnap is being sued, fined, evicted

The company has been sued by at least seven creditors, including Wells Fargo.

11:21 am PDT • June 3, 2024
After raising $100M, AI fintech LoanSnap is being sued, fined, evicted

The global spend management sector is experiencing a tailwind of sorts. North America is arguably the biggest market in this space, but spend management companies have seen demand rise across…

Spend management startup SiFi raises $10M to grow further in Saudi Arabia

Monzo has announced its 2024 financial results, revealing its first full-year pre-tax profit. The company also confirmed that it’s in the early stages of expanding into the broader European market…

UK neobank Monzo reports first full (pre-tax) profit, prepares for EU expansion with Dublin hub

Stripe, the world’s most valuable fintech startup, said on Friday that it will temporarily move to an invite-only model for new account sign-ups in India, calling the move “a tough…

Stripe curbs its India ambitions over regulatory situation

As a teen model, Katrin Kaurov became financially independent at a young age. Aleksandra Medina, whom she met at NYU Abu Dhabi, also learned to manage money early on. The…

Former teen model co-created app Frich to help Gen Z be more realistic about finances

It’s a lofty goal to take on legacy payments infrastructure, however, Forward’s model has an advantage by shifting the economics back to SaaS companies.

Fintech startup Forward grabs $16M to take on Stripe, lead future of integrated payments

With JioFinance, the Indian tycoon Mukesh Ambani is making his boldest consumer-facing move yet into financial services.

Ambani’s Reliance fires opening salvo in fintech battle, launches JioFinance app

FintechOS competes with other companies such as Ncino, Meridian Link, Abrigo and Backbase.

Romanian startup FintechOS raises $60M to help old banks fight back against neobanks

After the Wirecard scandal, Germany’s financial regulator BaFin started to look more closely at young fintech startups that wanted to grow at a rapid pace — it’s better to be…

Germany’s financial regulator ends anti-money laundering cap on N26 signups after $10M fine

Owners of small- and medium-sized businesses check their bank balances daily to make financial decisions. But it’s entrepreneur Yoseph West’s assertion that there’s typically information and functions missing from bank…

Relay raises $32.2 million to help smaller businesses manage their cash flow