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Welcome to TechCrunch Fintech ( formerly The Interchange ) ! This week , we ’re looking at the piping live spherical payroll space , neobank Dave ’s financial results and related stock boost , and more !
To get a roundup of TechCrunch ’s biggest and most important fintech stories delivered to your inbox every Sunday at 7:30 a.m. PT , support here .
The big story
This week alone , we covered three interesting great deal in the ball-shaped payroll blank space . For starters , Deelannounced it isacquiringAfrican - based payroll and hour software and services companyPaySpacein its largest acquisition to date . It also said it’scrossed $ 500 millionin one-year recurring taxation ( ARR ) . Then I wrote aboutRemofirst , a startup out to take on the the like of Deel and Rippling , too , securing $ 25 millionin Series A funding . Also , Tage write about how UAE - basedRemotePassannounced it hadraised $ 5.5 million in Series A fundingled by Istanbul - ground 212 VC . There ’s no question that this space is hot , hot , blistering .
heed to Alex Wilhelm and I talk more about it on Equity :
Analysis of the week
We ’re wait at another fintech recording positive financial resolution . NeobankDavetold us via email that it had accomplish profitability for the first time as a public company , notching adjusted Earnings Before Interest Taxes Depreciation and Amortization of $ 10 million in the quaternary quarter and GAAP net income of $ 200,000 . The company also beat out steering for the 2023 financial twelvemonth and reported a 26 % growth in non - generally accepted accounting principles operating revenue with a big boost from its ExtraCash offering . Its stock skyrocketed on the intelligence — starting the week possible action on March 4 at $ 22.46 , gain a new 52 - workweek - high of $ 43.99 on March 7 , before closing at $ 36 on March 8 .
Dollars and cents
Two - yr - older Colombian payments startupYunohas accomplish a $ 150 million evaluation with$25 million in Series A fundingfrom investor such as DST Global Partners , Tiger and a16z .
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London - based challenger bankMonzoraiseda recent - stage funding daily round of $ 430 millionat a post - money valuation of $ 5 billion .
Paris - based business banking startupQontois using an unrevealed portion of its hard cash reserve toacquire Regate , an accounting and fiscal automation platform .
Harness Wealthhas flesh out into the tax advisory space andraised a $ 17 million extensionto its Series A round .
TheArtemis Fund , which gift in underrepresented founders in fintech , commercialism and care , close on its 2d stock with$36 million in chapiter dedication .
What else we’re writing
Apple ’s iOS 17.4 update is in the main about adapting iOS to the EU ’s Digital Markets Act rule . But the company has alsoreleased a new APIcalled FinanceKit that lets developers fetch transactions and counterweight information from Apple Card , Apple Cash and Savings with Apple .
Georgina Merhom wants to crush the status quo withSOLO , a first - party data point collection and coverage engine that integrates user - permissioned data root , including fiscal transactions , online record and digital footprints to tell a more complete floor about someone ’s fiscal conduct .
PayPalannounced that it’slaunching “ Tap to Pay”for merchants with an iPhone through the Venmo and Zettle apps in the U.S.
High-interest headlines
Capstack Technologies receive strategic investment funds from Citi Ventures(TC cover Capstackhere . )
Argyle raises $ 30 M to thrive automated income , employment verification
Synctera raises $ 18.6 M in Series A-1 funding(TC covered Synctera’sSeries Ahere . )
The latest fintech retirement : a $ 2B challenger to Western Union suspend U.S. services
Treasury Prime has repose off half its staff(TechCrunch cross its$40 M raisein February 2023 . )
Brazilian fintech CloudWalk annunciate $ 320.5 M tax revenue , plans U.S. expansion
TomoCredit ispivoting into B2Bwith TomoScore , after a number of reportedwoes
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