Welcome to TechCrunch Fintech! This week, we’re diving into the latest happenings in the fintech world. From Bolt’s ambitious fundraise plans to Synapse founder’s new venture and the financial standing of Stripe, there’s a lot to cover.
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The big story
Bolt made headlines last week with its bold proposals to shareholders, including a substantial Series F raise and marketing credits deal. Founder Ryan Breslow’s potential return as CEO with lucrative bonuses has stirred up anticipation in the fintech community. Read our in-depth analysis to stay updated on this developing story.
Analysis of the week
The founder of Synapse, a bankrupt banking-as-a-service startup, has pivoted to a new venture called Foundation. Despite ongoing controversies surrounding Synapse’s unresolved customer deposit issues, Sankaet Pathak has secured $11 million in pre-seed funding for his robotics startup. Learn more about this intriguing development in our detailed analysis.
Dollars and cents
Brazilian fintech Magie raised $4 million in a seed round, while Kenyan startup Workpay secured $5 million in Series A funding. Another notable mention is Skyfire, which unveiled an AI-driven payment network with $8.5 million in seed funding. Waza, a payment platform for African businesses, emerged from stealth with $8 million in seed capital.
What else we’re writing
PayPal is exploring new opportunities with the iPhone’s NFC capabilities, signaling the potential development of a mobile wallet for EU users. Our job postings for fintech companies have received overwhelming responses, showcasing the industry’s growth and demand for talent.
High-interest headlines
Prize-linked neobank PrizePool shutters app ahead of acquisition
Stripe, now gushing money, plans new employee tender
TechCrunch confirms that Stripe’s self-funded offer allows employees to sell shares, reflecting the company’s impressive $615 million free cash flow. Stripe’s innovative approach to employee liquidity sets a new standard in the fintech industry.
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