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Welcome to TechCrunch Fintech !
This week we ’re looking at a inauguration that ’s out to avail people pilot foresightful - term care using AI , a fuss of activity in Africa , another fintech company shutdown , and more .
The big story
foresightful - condition care is not something most masses imagine about until they are older , or until they are forced to . And by then , it is often too recent . This subject is personal to me , as I construe both my oldest buddy and my mother suffer from illnesses and require tenacious - term tutelage in recent years . Not only is it difficult to determine quality care , but it is also extremely expensive — even if you were golden enough to buy some kind of insurance policy . So when I was late pitched a tarradiddle on a startup using AI to help people navigate long - term care provision , I was intrigued .
Lily Vittayarukskul startedWaterlilyin late 2021after her family was “ wiped out ” financially by helping care for her aunty who had been diagnosed with terminal Aspinwall cancer . The company uses contrived intelligence activity to predict a family ’s next long - term maintenance needs and price and then take them “ in building a tending plan and fancy out the right style to yield for it . ”
Fascinating . I ’m not the only one who thinks this way . Vittayarukskul initially started Waterlily as a solo laminitis until Evan Ehrenberg , a minor Angel Falls investor , came along . Ehrenberg — who had previously founded andsoldClara Health — helped with other enquiry and was come upon by the industry ’s response . Curious , he test the platform and was floor by his farsighted - condition maintenance predictions — so much so that he change his diet , hired a personal flight simulator , and updated his financial plans . That experience pulled him in bass . By 2022 , Ehrenberg — who became MIT ’s youngest neuroscience Ph.D. — had join Waterlily as a co - founder .
Dollars and cents
Uber - backedMoove , an Africa - stomach mobility fintech that offers vehicle financing to ride - hail and livery app drivers across six continents , hasacquiredKovi , a Brazilian urban mobility supplier . Moove co - founder and co - CEO Ladi Delano told TechCrunch that the deal relegate the mobility fintech ’s yearly revenue to $ 275 million . Last March , Moovereporteda $ 115 million ARR .
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Formancebelieves there ’s value in offering a modular platform that ’s similar to Amazon Web Services ’ take on swarm hosting : customer can use a individual table service , but it ’s more effective if you house all your swarm infrastructure under the same roof . And it ’s justraised $ 21 millionin a troll co - led by PayPal Ventures and Portage .
French embedded banking startupSwanhasraised another € 42 million(around $ 44 million at current interchange rates ) . The company considers this unit of ammunition to be the 2d part of the Series B that was in the beginning announcedin September 2023 .
Cedar Moneyrecently closed $ 9.9 millionin seed funding led by QED Investors . Like many cross - border payment platforms using stablecoins , Cedar Money play as a bridgework . It launch in other 2024 , start up operation in Nigeria .
Guinea - based fintechCauridorrecentlyraised $ 3.5 millionin seed funding to continue building its requital rail that lease merchant , banks , telecommunication operators , and money transferral company move investment trust in and out of Africa .
What else we’re writing
The Consumer Financial Protection Bureau ( CFPB ) has reach U.K.-based remittance companyWisewith an approximately$2 million finefor what it draw as “ a serial publication of illegal actions . ”
Cushion , a fintech inauguration that described itself as the “ Plaid for buy now , pay by and by ( BNPL ) , ” hasshut down . founding father and CEO Paul Kesserwani said that “ despite bring multiple new fintech mathematical product to market , ” Cushion “ did n’t reach the scale necessitate to sustain the business . ”
Elon Musk - possess social networkXannounceda partnership with Visato manage person - to - individual payments for its upcoming tenner Money merchandise .
With its 700,000 customers , Alancould be look at as a ripe companionship . But the wellness insurance caller that need to become a digital fellow traveller for your wellness isstill arise like a startup .
Serial entrepreneur and former recording artistVictor D. Lombard , also known asDIVINE , announcedthe launching of a novel fintech companyfor musicians in partnership withRAKIM , one of rosehip - hop ’s most influential host .
The rise of stablecoins — now a$205 billion market — is drive by veridical - world utility , not conjecture , particularly in emerging securities industry where the most compelling use case unfold . Tage Kene - Okafordoes a rich dive .
High-interest headlines
Nu Mexico hits 10 million client milestone
Real estate put-on bar startup Closinglock secures $ 34 megabyte
Trump brook to gain $ 250 million after media company expands into fiscal service
Itaú Unibanco bets big on AI with NeoSpace investment
Advisor AI startup Jump complete $ 20 M Series A funding
Thanks for reading ! Until next week … keep up me on X@bayareawriterfor breaking fintech news show , posts about coffee , and more .
