Mary Ann Azevedo, Author at TechCrunch

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

Mary Ann Azevedo — Thu, 20 Jun 2024 20:48:44 +0000

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 and compliance officer, TechCrunch has exclusively learned. Rathod-Papier and a16z declined to comment on the move. According to her LinkedIn profile, Rathod-Papier now “oversees a16z’s […]

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

Mary Ann Azevedo — Thu, 20 Jun 2024 14:30:00 +0000

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 brings the New York-based startup’s total venture capital raised to $31.7 million and included participation from Gradient Ventures (Google’s AI-focused venture fund), Velvet Sea Ventures, […]

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

Mary Ann Azevedo — Tue, 18 Jun 2024 17:05:00 +0000

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 killing its Pay Later feature, and more! To get a roundup of TechCrunch’s biggest and most important fintech stories delivered to your inbox every Tuesday […]

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

Mary Ann Azevedo — Wed, 12 Jun 2024 18:00:00 +0000

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 exclusive interview, the San Francisco-based corporate credit card and expense management company is shifting to a more traditional — and what they say should be […]

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

Mary Ann Azevedo — Tue, 11 Jun 2024 17:05:00 +0000

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 more! To get a roundup of TechCrunch’s biggest and most important fintech stories delivered to your inbox every Tuesday at 7:00 a.m. PT, subscribe here. […]

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

Mary Ann Azevedo — Thu, 06 Jun 2024 14:15:00 +0000

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 ages 19 and 21, respectively, in 2021 to build a startup called Fizz. The pair wanted to go beyond creating a debit card for the […]

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

Mary Ann Azevedo — Wed, 05 Jun 2024 13:00:00 +0000

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 unusual move, Capital One is teaming up with payment giants (and rivals) Stripe and Amsterdam-based Adyen to offer a free product aimed at fraud reduction, […]

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

Mary Ann Azevedo — Tue, 04 Jun 2024 17:05:00 +0000

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 and most important fintech stories delivered to your inbox every Tuesday at 7:00 a.m. PT, subscribe here. The big story AI mortgage startup LoanSnap is […]

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

Mary Ann Azevedo — Thu, 30 May 2024 14:30:00 +0000

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 pair bonded as students over what they viewed as a lack of a space for open conversations for people their age to have around financial […]

Bootstrapped for over a decade, this Dallas company just secured $110M to help people pay bills by text

Mary Ann Azevedo — Wed, 29 May 2024 12:00:00 +0000

Solutions by Text, a company that gives people a way to pay their bills and apply for loans via text messaging, has secured $110 million in new growth funding. Edison Partners and StepStone Group co-led the equity portion of the raise while Stifel Venture Bank provided a lending facility, which made up less than 15% […]

The demise of BaaS fintech Synapse could derail the funding prospects for other startups in the space

Mary Ann Azevedo — Tue, 28 May 2024 17:05:00 +0000

Welcome to TechCrunch Fintech! This week, we’re looking at the long-term implications of Synapse’s bankruptcy on the fintech sector, Majority’s impressive ARR milestone, and more! To get a roundup of TechCrunch’s biggest and most important fintech stories delivered to your inbox every Tuesday at 7:00 a.m. PT, subscribe here. The big story Last week, we […]

Synapse, backed by a16z, has collapsed, and 10M consumers could be hurt

Mary Ann Azevedo — Sat, 25 May 2024 15:00:00 +0000

Synapse's bankruptcy shows just how treacherous things are for the often-interdependent fintech world when one key player hits trouble.

Teen fintech Copper had to abruptly discontinue its banking, debit products

Mary Ann Azevedo — Tue, 21 May 2024 20:00:03 +0000

Another fintech startup, and its customers, has been gravely impacted by the implosion of banking-as-a-service startup Synapse. Copper Banking, a digital banking service aimed at teens, notified its customers on May 12 that it would be discontinuing bank deposit accounts and debit cards on May 13. In a letter to customers, CEO and co-founder Eddie […]

There’s a real appetite for a fintech alternative to QuickBooks

Mary Ann Azevedo — Tue, 21 May 2024 17:05:00 +0000

Welcome to TechCrunch Fintech! This week, we’re looking at the continued fallout from Synapse’s bankruptcy, how Layer wants to disrupt SMB accounting, and much more! To get a roundup of TechCrunch’s biggest and most important fintech stories delivered to your inbox every Tuesday at 7:00 a.m. PT, subscribe here. The big story The prospects for […]

A US Trustee wants troubled fintech Synapse to be liquidated via Chapter 7 bankruptcy, cites ‘gross mismanagement’

Mary Ann Azevedo — Thu, 16 May 2024 23:01:54 +0000

The prospects for troubled banking-as-a-service startup Synapse have gone from bad to worse this week after a United States Trustee filed an emergency motion on Wednesday. The trustee is asking to convert the company’s debt reorganization Chapter 11 bankruptcy into a liquidation Chapter 7, according to court documents. The trustee wrote that the need for […]

Khosla Ventures, Pear VC triple down on Honey Homes, a smart way to hire a handyman

Mary Ann Azevedo — Thu, 16 May 2024 15:00:00 +0000

There’s apparently a lot of demand for an on-demand handyperson. Khosla Ventures and Pear VC have just tripled down on their investment in Honey Homes, which offers up a dedicated handyman to take care of all the random tasks on a homeowner’s to-do list. The company raised $9 million last June in a Series A […]

Meet PayHOA, a profitable and once-bootstrapped SaaS startup that just landed a $27.5M Series A

Mary Ann Azevedo — Wed, 15 May 2024 11:00:00 +0000

PayHOA, a previously bootstrapped Kentucky-based startup that offers software for self-managed homeowner associations (HOAs), is an example of how real-world problems can translate into opportunity. It just raised a $27.5 million Series A round in an environment where nearly $30 million Series A rounds are no longer common. PayHOA founder and CEO Mike Bollinger has […]

Inside TabaPay’s drama-filled decision to abandon its plans to buy Synapse’s assets

Mary Ann Azevedo — Tue, 14 May 2024 17:00:00 +0000

Welcome to TechCrunch Fintech! This week, we look at the drama around TabaPay deciding to not buy Synapse’s assets, as well as stocks dropping for a couple of fintechs, Monzo raising even more funds, and more! Sign up here to get Fintech in your inbox every Tuesday at 7 a.m. PT! The big story There was […]

Inside Mercury’s competitive push into software and Ramp’s potential M&A targets

Mary Ann Azevedo — Tue, 07 May 2024 17:05:00 +0000

Welcome to TechCrunch Fintech! This week, we’re looking at Mercury’s latest expansions, wallet-as-a-service startup Ansa’s raise and more! To get a roundup of TechCrunch’s biggest and most important fintech stories delivered to your inbox every Tuesday at 8 a.m. PT, subscribe here. (New day and time, same awesome newsletter!) The big story Digital banking startup […]