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Fin tech VC reshapes the investment landscape



Fin tech VC reshapes the investment landscape

Welcome to the Union! If you got this in your inbox, thanks for signing up and your vote of confidence. If you are reading this as a message on our site, please sign up here to receive it directly in the future. Every week I will review the latest fintech news from the previous week. This will include everything from funding rounds to trends, analysis of a specific area, and an engaging look at a particular company or phenomenon. There’s a lot of fintech news out there and it’s my job to keep up with it, and make sense of it, so you can stay up to date. – Maria Ann

What a difference of several months. In mid-February, we published a survey of 10 fintech investors who asked questions on topics like what areas they are passionate about and their vision for the future. Here we are, less than six months later, and the atmosphere of the responses to our latest survey, this time from eight fintech investors, is very different.”

Asked in February what changes he saw in the landscape in 2021 and if the deals were much more competitive, Accel partner Ethan Choi responded: “From an investment perspective, the deals have definitely been more competitive and valuations they certainly reflect it, albeit for the correction in public terms. fintech compositions.

And Muneesh Varma, managing partner at SoftBank Investment Advisers, in response to the same question, said: “The increased level of funding has increased competition, especially for high-quality companies.”

In July, when asked the same question, Justin Overdorf of Lightspeed Venture Partners said: “The seed hasn’t changed much, but the Series A and Series B round sizes have definitely shrunk. Companies are raising less money at a lower valuation than in 2021, reflecting market sentiment.”

And Avid Ventures founder and managing partner Addie Lerner said: “Last year … with very low interest rates, investors were looking for income where they could find it and paying a growth premium. Now, with interest rates rising, investors are valuing companies at various stages based on fundamentals and prioritizing efficient capital growth, while scanning market quotes for valuation recommendations.”

The bottom line is that earlier this year, the mood was more like: “Hooray, everything is great and 2021 has been a stellar year in the fintech world.” Today it’s more like, “We’re being very, very careful, and so should you.”

I have to say that both my editors and I were very impressed with the thoughtfulness of the responses in these surveys. Fintech VCs responded, this time including General Atlantic’s Paul Stamas, Initialized Capital’s Alda Leu Dennis, Coatyu’s Michael Gilroy, Lightspeed Venture Partners’ Justin Overdorf, Avid Ventures’ Addy Lerner, F-Prime Capital’s David Jaegen Fintech Fund’s Nick Milanovich, Infinity Ventures’ Jay Ganatra clearly took the time to provide detailed answers that will help us better understand the current fintech investment landscape. In my humble opinion, the quality of the responses, along with all the amazing analysis and general content constantly posted on TechCrunch+, is worth $99/year for a subscription.

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After beginning his fintech career as a software engineer, Rex Salisbury co-founded the fintech practice of Andreessen Horowitz with general partners Anish Acharya and Angela Strange before becoming a partner in 2019. In his two years at the firm, Salisbury has continued to support Deel and Tally, now hornless, two companies he has come to know through the Cambrian community he has built since 2016. He has now launched his own early-stage fund, Cambrian Ventures, from which he plans to provide support to the next generation of fintech founders at the angel, pre, and seed levels with checks up to $500,000.

Public company Lemonade has laid off about 60 employees from Metromile, a recently acquired auto insurance company, adding to the volatility seen in the tech sector over the past 18 months. In an emailed statement, a Lemonade spokesperson told TechCrunch that the company “could offer Lemonade jobs to approximately 80% of the Metromile team,” but because the deal was “synergistic,” it could “work with fewer people than necessary to staff two freelancers.” Such reductions in staff are not abnormal in such mergers, even if this is little comfort to those in the abolished positions. Meanwhile, sources tell me that many Employees have been “stunned” by the move and wonder if Lemonade complies with the WARN Act. The same sources also say Lemonade required employees to sign a form with a “do not detract from value” clause. I contacted Lemonade to ask about all this, but got no answer.

Chinese billionaire tech chief Jack Ma plans to hand over control of Ant Group, a fintech company closely linked to Alibaba, the e-commerce giant he founded, the Wall Street Journal reported on July 28. Ant’s restructuring and redistribution of power after China canceled a $35 billion initial public offering nearly two years ago.

On July 25, Instacart announced that the Electronic Benefit Transfer and Supplemental Nutrition Assistance Program (EBT SNAP) can now be used through its app to shop for groceries online in 10 additional states. 10 states: Colorado, Hawaii, Idaho, Louisiana, Montana, New Mexico, Oregon, Utah, Washington, and Wyoming. Instacart reports that Albertsons and Sprouts Farmers Market are among the first businesses in these states to accept online EBT SNAP payment. For some context on how the show came to be, check out this article I wrote earlier this year.

Cardless announced plans to launch co-branded credit cards on the American Express network. The move follows Amex Ventures’ $40 million Series B round investment in a San Francisco-based three-year startup announced in July 2021.” Simply put, Cardless aims to help brands from consumer to launch credit cards “very quickly and easily” through program creation, card underwriting, lending, issuance and customer service for brands.

Payment giant PayPal has finally hired an activist from Elliott Management, a $50 billion hedge fund, according to the Wall Street Journal and Barron’s. The latest post reads: “PayPal has been a darling during the pandemic as households have increasingly shopped online, but shares are down more than 60% this year as people return to their previous spending habits. to the pandemic. Earlier this year, the company cut its 2022 earnings forecast, resulting in the worst one-day liquidation in its history as a public company. PayPal’s valuation has dropped to $89 billion from $350 billion last year. Why should we care? Well, according to the Financial Revolutionist, “if the activist investor takeover of Elliot is successful, then the hedge fund has several strategies to correct PayPal’s course.”

Visa and Mastercard’s earnings are good indicators of the broader economy, according to Moody’s fintech analyst Peter Krukowski, who wrote in an email: “Visa and Mastercard card networks are an excellent and broad barometer of activity economic growth, and the strength of US Visa transaction flows in the June quarter and in July indicate strong and sustained consumer demand. While the impact of higher interest rates on demand may increase over time, continued strong trends in card networks point to strong growth trends in the payment processing industry.”

After Brex’s controversial announcement that it would no longer work with SMEs, it has now hired San Francisco-based startup Oxygen “to ensure a smooth transition for its small business clients.” Last November, TC’s Manish Singh revealed that Oxygen, a digital bank targeting freelancers and small businesses, was reportedly raising $500 million in funding.

Speaking of cost management, Ruth Fox Blader, partner at Anthemis Group; Eric Glieman, Co-Founder and CEO of Ramp; and Tejo Kote, Founder and CEO of Airbase, will talk about balancing runway and growth at TechCrunch Disrupt Stage October 18-20 in San Francisco. For more information, click here. PS Hope to see you there!

Alternative investment platform Yieldstreet has appointed Timothy Schott to the newly created CFO role. In a press release, the company said that “Schott’s experience in a broad range of financial and business functions, as well as his significant experience in capital markets and M&A, enables Yieldstreet to continue to grow its clients and long-term success.” When asked if this meant the company was looking at public markets, a representative told me via email: “No plans! Tim just came on board to build the infrastructure for the company to scale.”

There is no doubt that the COVID-19 pandemic has made people less likely to use cash to pay for everyday purchases. Due to hygiene and social distancing measures, merchants who previously discouraged customers from paying small amounts by card are now encouraging contactless transactions. And since many outdoor activities were simply out of the question, cash was hoarded more often than it was spent. Now it seems that contactless payments are here to stay.

Looking at the current socioeconomic conditions in Latin America, one can find many reasons for pessimism, or at least fear of what remains to be improved. Of course, challenges are also opportunities, but what if there are too many obstacles to overcome in the near future? And yet, despite the deteriorating global and local macroeconomic climate, unicorns continue to be minted in the region. That is why Clocktower Technology Ventures remains bullish on fintechs in the region.

Viber, a messaging app owned by Japanese e-commerce giant Rakuten, has been dancing in the fintech space for a long time, launching services like chatbot money transfers and payments in different countries over the years. Now, the company is trying to double down on that strategy: It’s launching Viber Payments, a new service that will allow users to set up digital wallets linked to their Viber accounts.

Financing and M&A
Balance raises $56M to tip the scales for one-click checkout in favor of B2B sellers

Sequoia backs Dbank fintech in Pakistan’s first investment

Pogo raises millions to become ‘honey for the real world’

You can’t afford a house, but you probably can afford Nothing

Fintech Guava raises $2.4 million to provide banking services to black small business owners

With more than $3 billion in assets under management, Portage Ventures plans to invest $750 million in its first late-stage fintech fund.

PSA: The release of the Battlefield 200 apps will close soon. Apply today to join the Startup Battlefield 200 for a chance to submit your startup to TechCrunch Disrupt this October for free and win a $100,000 prize. Applications close on August 5.

One more thing: be sure to listen to fellow fintech enthusiasts Alex Wilhelm, Natasha Mascarenhas and myself discuss industry news on last week’s Friday edition of the award-winning Equity podcast.

With that, it’s time for me to go. Thanks for reading and have a wonderful week ahead. I can’t believe it’s August already. Where did the summer go? xoxo, Mary Ann

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US sues Google for ‘abuse of control over online advertising’



US sues Google for 'abuse of control over online advertising'

The U.S. Department of Justice sued Alphabet-owned Google on Tuesday, accusing it of abusing its dominant position in the digital advertising business, with Google facing the government’s latest blow to ad manager his package. should be forced to sell. Market Power Big Tech.

The lawsuit concerns Google’s business, which generates 80% of his revenue. The Justice Department has filed a lawsuit to force Google to sell its ad tech business.

“Google has used anti-competitive, exclusive, and unlawful means to eliminate or substantially mitigate threats to its supremacy in digital advertising technology,” the antitrust complaint states.

In response to the lawsuit, Google said the government “replicates a flawed argument that slows innovation, drives up advertising costs and makes growth difficult for thousands of small businesses and publishers.”

The federal government says it seeks to level the playing field for tech giants such as, Facebook owner Meta Platforms and Apple Inc.

The lawsuit from the administration of Democratic President Joe Biden was filed Tuesday following a 2020 antitrust lawsuit filed against Google during the presidency of Republican President Donald Trump.

The 2020 lawsuit, which alleges antitrust violations in how the company gained or maintained a dominant position through its online search monopoly, is due to go to court in September.

On Tuesday, eight states, including Google’s home state of California, joined the Justice Department lawsuit.

Google shares fell 1.6% on Tuesday.

The lawsuit alleges that “Google seriously sabotaged competition and stifled innovation in the digital advertising industry.”

In addition to its well-known free search, Google makes money from its interconnected advertising technology. This connects advertisers to newspapers, websites, and other businesses that want to host them.

Advertisers and website publishers have complained that Google lacks transparency about where their ad dollars go, specifically how much goes to publishers and how much goes to Google. I’m here.

The company has made a number of acquisitions, including DoubleClick in 2008 and AdMob in 2009, to become a dominant player in online advertising.

“Project Poirot”

While Google remains a long-term market leader, Google’s share of U.S. digital ad revenue has fallen from 36.7% in 2016 to 28.8% last year, according to Insider Intelligence.

The Justice Department has asked a jury to decide on a lawsuit filed in Virginia.

The lawsuit outlines Google’s numerous attempts to dominate the advertising market, with the government claiming the company has “technical tools to deal with threats.”

The complaint discussed Headline his bidding, which allows companies to bypass Google and bid for ad space on their websites.

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Everything You Need to Know about Tap and Pay (NFC)




Everything You Need to Know about Tap and Pay (NFC)

Tap and pay, also known as NFC (Near Field Communication) payments, is a contactless payment method that allows you to make purchases by simply tapping your mobile device or payment card on a secure reader at the point of sale.

Here are a few things you should know about tap and pay: 

  1. How it works: To make a tap and pay payment, you’ll need a device that is equipped with NFC technology, such as a smartphone or smartwatch, or a payment card with an NFC chip. When you tap your device or card on the secure reader at the point of sale, the payment is processed wirelessly using NFC technology.
  2. Security: Tap and pay payments are secure because the NFC chip in your device or card creates a secure connection with the payment terminal, and the transaction is encrypted to protect your personal and financial information.
  3. Availability: Tap and pay is widely available at retailers and restaurants around the world, and is supported by many major credit card companies and banks. You can also use tap and pay with digital wallets such as Apple Pay, Google Pay, and Samsung Pay.
  4. Convenience: Tap and pay is a convenient way to pay for purchases, as it allows you to make transactions quickly and easily without the need to enter your card details or sign for the purchase.
  5. Limitations: While tap and pay is a convenient and secure way to pay, it may not be accepted at all merchants, and may have transaction limits that vary depending on the merchant and your payment method.

Tap & Pay” Vs “NFC” payments

Tap and pay” and “NFC payments” refer to the same thing, which is the ability to make contactless payments using NFC technology.

NFC stands for Near Field Communication, and it is a technology that allows devices to communicate wirelessly over short distances (usually a few centimeters). In the context of tap and pay payments, NFC technology is used to wirelessly transmit payment information from your device or payment card to a secure reader at the point of sale.

When you tap your device or card on the reader, the payment is processed wirelessly using NFC technology. This allows you to make purchases without the need to enter your card details or sign for the purchase, making it a convenient and secure way to pay.

So, in summary, “tap and pay” and “NFC payments” are interchangeable terms that refer to the ability to make contactless payments using NFC technology.

What are the benefits of tap and pay?

There are several benefits to using tap and pay, also known as NFC (Near Field Communication) payments:

Convenience: Tap and pay is a convenient way to make payments, as it allows you to make transactions quickly and easily without the need to enter your card details or sign for the purchase.
Speed: Tap and pay payments are typically faster than traditional payment methods, as there is no need to swipe or insert a card, enter a PIN, or sign for the purchase.
Security: Tap and pay payments are secure because the NFC chip in your device or card creates a secure connection with the payment terminal, and the transaction is encrypted to protect your personal and financial information.
Contactless: Tap and pay allows you to make payments without physically handling a card or cash, which can be especially useful in situations where you want to avoid touching shared surfaces, such as during the COVID-19 pandemic.
Widely available: Tap and pay is widely available at retailers and restaurants around the world, and is supported by many major credit card companies and banks.

Overall, tap and pay is a convenient, fast, and secure way to make payments, and is becoming increasingly popular as more retailers and payment providers adopt NFC technology.

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Magch Tablet Review: The Good & The Bad




Magch Tablet Review: The Good & The Bad

When it comes to entertainment, tablets make a better choice than smartphones. The bigger screen size backed by a longer battery life makes it an excellent option for media consumption. It fills the sweet spot between a bulkier laptop and a small smartphone.

Speaking of tablets, there’s a new type of device going around called the Magch Tablet. It is specially designed for multitasking and has an octa-core processor with 1.8 GHz speed. It is also backed by a powerful T10 chipset.

If you are eager to know more about this tablet, you should read our Magch Tablet Review. Here we will discuss its specs, features, operating system, and everything else that’s important to know.

What is Magch?

For those unversed, Magch is a new type of tablet that has recently become very popular. The main highlight of this tablet is the Android operating system. The open-source operating system allows users to customize their tablet experience. It is equipped with a microphone and camera that makes it ideal for taking videos and pictures.

Even though Magch tablet looks like a regular tablet, it is unique in its way. It is built to transform the way we use desktops. The unique design allows you to use it both as a tablet and a laptop. Unlike other tablets, it has an in-built keyboard for smooth typing action. With this tablet, you don’t need to carry a spare keyboard around.

Magch Tablet: Operating System

Now that you know the basics, let’s move deeper into our octa core tablet review. Starting with the operating system runs on Android 11 and has a certification from GMS.

The 10-inch display gives access to several Google services, such as Drive, YouTube, Maps, and Gmail. There are no annoying ads or bloatware to spoil your experience.

You can also access Google Playstore which is pre-loaded on the device. This gives you the option to download and install the latest applications that you like. This tablet is mainly built for multitasking, allowing users to easily switch between various applications.

 If you feel your phone display is small and hate carrying your laptop around, Magch Tablet could be a good solution for you. Before you decide to get this amazing gadget home, you should read the full octa core android tablet review below.

Magch Tablet: Hardware

Talking about the hardware, it is a 10-inch tablet that can easily fit in your bag or pocket. It boasts a large, high-resolution screen and a 6000 mAh battery. It provides a runtime of 11 hours which is good enough for a tablet. This is an ideal tablet for watching movies, reading, or gaming.

It has support for popular streaming apps like Disney+ and Netflix. So, if you want a device more powerful than your smartphone, but smaller than your laptop, Magch Tablet could be the one for you.

The stunning 1080p full HD display has a high resolution of 1920 x 1200. The 224-PPI IPS screen supports an aspect ratio of 16:9 for a better viewing experience.

As far as storage is concerned, it comes with default 64GB memory space. This makes the device ideal for storing large documents, taking pictures, or watching movies. The storage space can be further expanded via SD cards up to 256 GB. The high-quality dual speakers provide excellent audio.

Magch Tablet: Design and Performance

It is a stylish and sleek device that is built for performance. It is the perfect multitasking device for your everyday tasks. Speaking of the design, the tablet looks attractive and boasts a solid build quality.

It has an all-metal body that makes it look more appealing. Compared to other tablets, it is slimmer and lightweight. You can say that the tablet is both practical and eye-catching.

It is powered by a quad-core processor for fast and reliable performance. From watching movies to browsing the internet, this tablet can handle all your daily tasks with ease.

It has the perfect screen size for watching videos and enjoying movies. The resolution is high enough to give you an enhanced viewing experience. You can use this device to stream movies, watch videos, browse the web, and more.

It runs on the Android 11 operating system. Most users who have bought this device have given positive feedback about its performance. Unlike other tablets, it doesn’t slow down when using multiple apps. It allows you to easily switch between apps without hassles. This makes it ideal for multitasking.

Overall, this is an impressive tablet with all the features you need. Despite all the good features and specs, it has a reasonable price tag. Unlike some other tablets, you don’t need to break the bank to purchase this one.

Magch Tablet: Display Unit

The 10-inch Magch Tablet comes with a full HD display for an improved viewing experience. It also has a 13MP rear camera that is perfect for taking high-quality pictures and videos.

With 1920 x 1200 resolution and 224 pixels per inch, the screen brings everything to life. The Eye-Care Comfort mode is included to give you a more pleasant viewing experience. It puts less strain on your eyes even if you are using the tablet in low-light areas.

The thoughtful design of the display screen makes it ideal for reading. It reduces the pressure on your eyes by cutting down the amount of blue light emitted by the screen.

Powered by Android 11 OS, it has a 3-button navigation system. Besides that, it has a switch access and a back button. It allows users to customize their home screen by adjusting the gamma and color settings.

Magch Tablet: Camera and Speakers

Like a smartphone, the Magch Tablet is equipped with two cameras. It has a 13 MP rear lens and an 8 MP front lens. 

In terms of quality, both cameras will provide you with decent output. While the back camera is good for capturing videos, the front-facing camera can be used for taking selfies and video calls. 

To sum it up, it is good enough for basic photography. For ground-breaking results, you will have to opt for some other device.

Coming to the audio department, it has dual speakers that provide loud and clear sound. The audio quality is both accurate and high-quality and therefore, you can use it to enjoy your favorite music.

Magch Tablet: Connectivity

Magch has all the connectivity options that you would expect in a modern tablet. It has GPS, Bluetooth, and Wi-Fi capabilities.

The Wi-Fi is very fast and reliable. It allows you to easily connect to the internet and stream your favorite videos and movies. Even the Bluetooth connection works fine. You can use it to connect the tablet to other Bluetooth-enabled devices, such as wireless speakers and headphones. The GPS feature provides accurate directions, so you can use it while driving.

Even with all these features on, the battery life lasts for a long time. It has fast charging facility, so you don’t need to wait for a long time to juice up your device. In short, Magch is a great device with smooth connectivity and long battery life.

Magch Tablet: Memory and Storage

Considering the memory and storage space when buying a tablet is very important. It helps you decide if the device is right for you. Magch Tablet is not a disappointment in this aspect. It has 64GB of built-in storage to accommodate all your large files, images, documents, and videos.

The good thing is that the storage space is upgradeable up to 256GB via SD card. So instead of deleting your files to free up space, you can simply use an SD card to expand your storage.

Magch Tablet: Battery Life

One of the most important things to consider when buying a tablet is the battery life. You wouldn’t want a device that requires frequent charging. In terms of battery life, Magch Tablet does better than most other tablets. 

It comes with a 6000 mAh battery that provides up to 9 to 11 hours of battery backup. Additionally, it has a fast charging facility, so you don’t need to wait for hours to fully charge the device. 

Magch Tablet is perfect for entertainment. With this device, you don’t need to worry about the low battery while streaming movies online. Once you charge the tablet, it will run for a long time.

Where to buy Magch Tablet? 

The Magch Tablet can be purchased from a variety of retailers online. For example: eBay, Amazon, Walmart, and others.

If you are not confident about buying it online, you can visit a brick-and-mortar store, such as Best Buy, and target to get the device. The price of the tablet might vary from one retailer to another. You should compare the prices to find the best deal for yourself.

Final Thoughts

Magch Tablet is a new device that is developed for multitasking. It has a 10-inch screen with high-resolution picture quality. Additionally, it is powered by Android OS. This device is ideal for anyone who wants a powerful tablet within a budget price. For a tablet of this price range, it offers an excellent deal.

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