Banking
Fintech company Wise says some customers affected by Evolve Bank data breach
The news highlights that the fallout from the Evolve data breach on third-party companies — and their customers and users — is still unclear.
Relay raises $32.2 million to help smaller businesses manage their cash flow
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…
Fintech Mercury, whose B2B business is caught up in regulatory scrutiny, expands into consumer banking
Business banking startup Mercury, founded in 2017, is now launching a consumer banking product. Mercury today serves more than 100,000 businesses, many of which are startups, via its B2B practice.…
Cash App takes on Apple with a 4.5% APY for savings accounts (with direct deposit)
Apple’s recent move to boost the interest rate for its Apple Card Savings Account to 4.5% is now prompting a competitor to do the same. Cash App today announced it…
YC-backed Cambio puts AI bots on the phone to negotiate debt, talk to a bank’s customers
A Y Combinator-backed startup called Cambio is bringing AI to the banking world in a surprising way: It’s putting AI bots on the phone with companies and consumers. The startup…
ModernFi secures $18.7M to help banks grow their deposit base
The company provides community and regional banks with end-to-end deposit management capabilities, including a deposit network.
Prometeo raises $13M from PayPal, Samsung and more to bring open banking to Latin America
Open banking — where traditional banks can share data, and build new services, by way of APIs that bring their ageing systems into the 21st century — has seen its…
Comun channels local banking approach to serve Latino immigrants
Comun offers digital banking services, including instant payments, check deposits and early paychecks and provides customers with access to native Spanish-speaking reps seven days a week.
Leverage banking data to scale effectively and remain compliant
Data can provide a wealth of insights into the financial health of customers, along with information about how they spend their money and where. The only question is, what to…
Carefull lands $16.5M to shield seniors from financial fraud
Carefull, a fintech platform that aims to help banks protect older customers from fraud, scams and “money mistakes,” today announced that it raised $16.5 million in a Series A round…
Fintech faces its reckoning: It’s only a matter of time until the house of cards collapses
The fintech business models that wooed consumers look increasingly tenuous. It’s only a matter of time until the house of cards collapses.
Zopa, the UK neobank, hits 1M customers and raises another $93M
In 2021, U.K. neobank Zopa, which has been around since 2004, leapt to a $1 billion valuation on the back of a big investment from SoftBank and a plan to…
Slash aims to corner the Gen Z market with business-focused banking features
Around two years ago, Victor Cardenas and Kevin Bai — college dropouts from Stanford University and the University of Waterloo, respectively — built a fintech platform called Slash that lets…
In the wake of FRB’s collapse, founders and investors continue to wonder: Where is the best place to protect important assets?
Whether you are an individual or a company, it makes sense to have more than one bank. Yet, many startups don’t.
Signature Bank seizure creates obstacles for crypto industry while promoting ‘unbanked’ innovations
Unease is rising in crypto after federal regulators seized Signature Bank, Silvergate Capital wound down operations, and Silicon Valley Bank collapsed.
Hatch Bank says hackers used Fortra bug to steal 140,000 customer Social Security numbers
Hatch Bank, a digital-first bank that provides infrastructure for fintech companies offering their own brand credit cards, confirmed hackers exploited a zero-day vulnerability in the company’s internal file transfer software…
For Black founders and investors, ringing Nasdaq’s opening bell symbolizes progress
“We’ve come a long way, but we still have a long way to go,” one investor told TechCrunch about the event.
Highbeam secures $10M loan to provide credit, spend monitoring and more to e-commerce retailers
Highbeam, a startup that provides banking features, credit and cash flow insights to e-commerce customers, today announced that it raised $10 million in debt from TriplePoint as it looks to…
With Bling, the fintech startup revolution spreads even to pocket money
Today, banks and fintech startups tend not to provide products dedicated to families, specifically, and this has appeared as something of a gap in the market. Meanwhile the general lack of…
GoHenry, the fintech for under-18s, raises $55M after passing 2M users
Neobanks have made a name for themselves by successfully winning the business of newly minted adults, opening their first checking, savings and investment accounts and uninterested in doing business with…
Jiko banks $40M in Series B funding to offer companies a way to park their cash in T-bills
Jiko started its life as a mobile bank for consumers. But over time, the fintech startup has evolved its model — mostly fueled by demand — and is now making…
Fintech app Portabl raises $2.5M to help consumers securely store financial data
It provides identity management and protection for financial services, banking and consumer apps.
Varo’s bank charter milestone, more corporate cards and BNPL under a microscope
Welcome to The Interchange! If you received this in your inbox, thank you for signing up and your vote of confidence. If you’re reading this as a post on our…
Selling APIs with Orum and Amex Ventures on TechCrunch Live
Stephany Kirkpatrick launched Orum.io in 2019 and quickly gained investments from some of the top fintech venture capital firms. Why? Kirkpatrick’s company is reinventing how money is transferred between banks,…
Kaszek, YC back DolarApp’s mission to ‘dollarize’ Latin America’s finances with crypto
With DolarApp, users can open a bank account going from peso to dollar dominated stablecoin USD Coin (USDc) and back in seconds.
Fintech startup Power flexes its credit card muscle following $316M equity, debt injection
Power’s credit card program is designed for companies, brands and banks to offer embeddable fintech experiences into existing mobile and web applications.
3 investors explain why earned wage access startups are set to cash more checks
It always feels good to get paid, so it’s no surprise that a payroll model like earned wage access (EWA), which lets employees withdraw their accrued wages at any time,…
VC funds still rolling as Northzone announces largest fund, while Salkantay is largest Peru fund
Northzone and Salkantay Ventures join other venture capital firms in raising their largest funds to date.
Varjo, an early mover in building XR headsets and software for enterprises, taps $40M
Applications in the metaverse often feel like more of a marketing gimmick than something that a critical mass of consumers would use, let alone pay for. But turn to the…
