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receive toTechCrunch Fintech ! This week , we ’re reckon at the Evolve Bank hack , three famed acquisition , Plaid ’s endeavour customer growth and more .
The big story
On June 26,Evolve Bank & Trust , afinancial institution that ’s democratic with fintech startups , announce that it had been dupe ofa cyberattack and data breachthat could have affected its partner company as well . The incident , consort to the company , involved “ the data and personal information of some Evolve retail bank customers and fiscal engineering pardner ’ customers ” such as Affirm , Mercury , Bilt , Alloy and Stripe . On June 29 , fintech companyWiseannounced that some of its customers ’ personal datamay have been stolenin the data breach .
Also last hebdomad , Thread Bank — a popular partner to BaaS startups such asUnit — gothit with enforcement actionfrom the Federal Deposit Insurance Corporation ( FDIC ) .
Analysis of the week
This past calendar week was an alive one for fintech M&A. Just seven months after announcinga $ 6 million seed financial support round of golf , data intelligence startupHyperplaneannounced it had beenacquired by Brazil ’s Nubank . The company ’s principal focal point is to allow banks to train their own models to superpower tools across their peril , collections and marketing departments . Meanwhile , Chimealso announcedplans to acquire Salt Labs“for as much as $ 173 million . ” TechCrunch coveredSalt Labs’$10 million lift in March of 2023here . AndRobinhoodis adding more AI features for investors with itsacquisitionof AI - power research chopine Pluto Capital .
Dollars and cents
Payabli , which work up the base that earmark companies — specifically software package companies — to embed and facilitate payments through APIs , raised $ 20 millionin a Series A backing .
Another company in the place isRainforest , which alsoraised $ 20 millionin its own Series A funding round , less than one yr after itsseed funding . Rainforest engraft defrayment processing into other software program program .
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Belgium’sChift , which get SaaS companies mix with dozens of financial tool with a unified API , raised a $ 2.5 million seminal fluid rotund .
Armed with$8 million in seed funding , Egyptian banking - as - a - inspection and repair startupConnect Moneyis out to tap its popularity to research emerging business opportunities out of African markets .
As a foreigner , navigating health insurance policy systems can often be difficult . German startupFeatherthinks it has a solution andraised € 6 millionto help some of the 40 - plus million expats working and living in Europe .
What else we’re writing
Plaid’sexpansion into being a multi - product company has led to it start to see veridical traction beyond traditional fintech customers . President Jen Taylor told me exclusivelyjust how many enterprisingness customer the company has now , detailing how maturation in that segment is go to outpace the rest of its business .
Indian e - Department of Commerce giantFlipkarthas quietly startedrolling out its own payments app , dubbed Super.money , as it widen its fintech ambitions more than a year and half afterseparating from PhonePe . The Walmart - owned house ’s new app , nowlive in beta on gambol Store , allows user to make mobile payments via UPI , an interoperable mesh that is the most popular way Indians transact online .
High-interest headlines
Citi sees AI displacing more money box job than any other sector
Goldman Sachs deploy its first generative AI instrument across the business firm
Billionaire Steve Cohen ’s Point72 Ventures lays off fintech team in pivot towards AI
Pay for new stuff by trade in your old clobber decent at check
Prudence , gain , and Growth(global fintech account co - author by BCG and QED Investors )
Only up from Here : 2024 ’s State of Fintech and the Hero ’s Journey(from Bain Capital Ventures partner Matt Harris )
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