Topics
Latest
AI
Amazon
Image Credits:Abscent84 / Getty Images
Apps
Biotech & Health
Climate
Image Credits:Abscent84 / Getty Images
Cloud Computing
Commerce
Crypto
Enterprise
EVs
Fintech
Fundraising
Gadgets
Gaming
Government & Policy
Hardware
Layoffs
Media & Entertainment
Meta
Microsoft
Privacy
Robotics
Security
Social
Space
Startups
TikTok
expatriation
Venture
More from TechCrunch
Events
Startup Battlefield
StrictlyVC
newssheet
Podcasts
Videos
Partner Content
TechCrunch Brand Studio
Crunchboard
adjoin Us
Welcome toTechCrunch Fintech ! This week , we ’re looking at the respective demise of Tally and Score , plus examining Klarna ’s latest business sector move . We also have a list of fintech companies that are looking to impart headcount .
The big story
Last calendar week , I reported onTally , a 9 - year - old fintech that helped consumers manage and pay off their credit carte debt , closing its doorsafter an unsuccessful attempt at securing more capital . After raising $ 172 million from investors such as Andreessen Horowitz and Kleiner Perkins , the news came as a bit of a jolt to the fintech community . We do n’t really cognize what exactly guide to Tally ’s death , although some speculate it was in part due to mellow interest rates , but it ’s sad news no matter what the cause . chief operating officer and cobalt - founding father Jason Brown told me : “ This decision was incredibly hard , but I ’m proud of what Tally carry out over the old age . … While Tally ’s journey is end , the cause to help people manage their debt more effectively continue , and I ’m hopeful that others will establish on what we started . ”
Also last week , Dominic - Madori Davis reported thatScore , the dating app for mass with good to excellent credit , hadshut downin other August . in the main , startup shutdowns are way up this year , according to multiple sources , includingCartaandLayoffs.fyi .
Analysis of the week
Swedish fintech giantKlarnaannounced last week that it wasexpanding into banking . The society started out as a buy now , pay off late supplier and has gradually broadened its offer over the years . Klarna is now offer a young “ counterweight ” chronicle and the ability to earn cash back on purchase made through its app . While U.S. users ca n’t yet earn interest on any money they store in the story , European users can earn up to 3.58 % . The move order Klarna closer to being in competition with other fintechs , such as Revolut , as well asincumbentssuch as Bank of America and JPMorgan Chase . It hail just a few calendar month after it launcheda credit cardin the U.S.
Dollars and cents
As predicted , Revolutconfirmed a novel valuationof $ 45 billion via a secondary market share sale , making it one of Europe ’s most valuable private technical school companies .
PayZen , which aims to make health care more low-priced by enabling patients to compensate their bills in interest group and fee - free installments over time , closeda $ 32 million Series bleed by NEA .
Join us at TechCrunch Sessions: AI
Exhibit at TechCrunch Sessions: AI
TipRanks , which uses AI and other analytics to build datasets and other brainwave to help people make smarter tender on stocks , isgetting snapped up for $ 200 millionby Prytek , a developer of business process products for fiscal services , human resourcefulness and other enterprise verticals .
What else we’re writing
I lately put outa callasking for fintech troupe that are hiring . After just over an hour , I had receive more than a 12 responses . After just a few days , I try from gobs more . The sheer number — and caliber — of reply was surprising even to me , someone who writes about this space on a steady basis . We do project to updatethe hiring postregularly over time so keep checking back !
confront increase pressure from regulators , Appleon August 14 annunciate it’sopening up NFC transactionsto third - political party developers . NFC , or near domain communication , is the short - range wireless technology that powers Apple Pay and Wallet . The tech monster also tell itgenerated a record $ 24.2 billionin revenue from its services social unit , which includes payments , in the 2nd quarter .
High-interest headlines
Citi and Wells Fargo join $ 31 million financial support round for loanword inauguration Setpoint
Tencent - backed Airwallex tally $ 500 million annualized sales agreement , take to get IPO - ready by 2026
Sling Money raises $ 15 million for money transportation app
Banking tech startup Amount conjure $ 30 million
Podcast listens
Tune in to the Equity podcast as the bunch dissects the respective closing ofTallyandScorehere .
What is the right way to build a software line ? Many startup advisers say that B2B software should solve one pain point , gain client , then add feature as their company grow . Serial laminitis Parker Conrad , currently the founder and CEO ofRippling , an HR software / payroll startup prise at $ 13.5 billion in April , thinks that ’s the wrong mode to do it . Conrad said on a late installment ofTechCrunch ’s incur podcastthat he think the advice given to computer software founders over the last two decades has been misdirect .
require to make out with a tip ? Email me at maryann@techcrunch.com or send me a message on Signal at 408.204.3036 . you’re able to also ship a note to the whole TechCrunch crew attips@techcrunch.com . For more good communications , flick here to contact us , which includes SecureDrop ( instructions here ) and links to encrypted message apps .
