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receive to TechCrunch Fintech ( formerly The Interchange ) ! In this edition , I ’m get to look at some hits and misses in the genuine estate of the realm fintech blank space , Carta ’s missteps ( again ) , and more !
The big story
Equity management platform Carta was in the news . . . again . And not for near reasons . Again . A prominent customeraccused Cartaof misusing sensitive information that startups trust to the company in pursuit of its own goals . The claim raised wider questions about how Carta run , even as Carta argued the incident was isolate , and led to the society close down its secondary trading operations . So what happens to Carta now ? Rebecca Szkutak does adeep honkytonk . Meanwhile , Alex and Anna argued that Carta ’s ontogenesis story is beingovershadowed by its caudex trading snafu .
Analysis of the week
The literal the three estates fintech space keep to have its ups and downs . We start the week by reporting on the tidings that Here , a fractional short - terminal figure vacation rental market place we first report on in 2022 , had close down its investment platform after just over two years of performance . The fellowship claimed that it ’s still alive , but we ’re not sure precisely what ’s left . Despite the fact that so many society in the industry have struggled or shut down , investors are n’t giving up on it .
I also reported this week onDownpayments ’ missionto help investor purchase unexampled properties with involvement - loose down requital .
eventually , we look atOvermoon , which also has a unequalled model that is a crossbreed of Airbnb and hotels — but with the best of both humans . mind to the Equity crew hash out Overmoon more here :
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Dollars and cents
Romance American startups go forward to attract venture dollar bill . We reported on two rise out of the region :
Conta Simples grabs another $ 41.5 meter for its disbursal management approach in Brazil
Prometeo raises $ 13 M from PayPal , Samsung and more to bring undefendable banking to Latin America
Meanwhile , in Africa , YC - bet on African fintech Cleva , establish by Stripe and AWS alums , grow $ 1.5 M pre - ejaculate
And , here in the U.S.,Pier banks $ 2.4 M to launch ‘ Stripe for deferred payment ’
What else we’re writing
Deal Dive : A Stripe secondary mass deserving pay attention to : There on the face of it has been a flurry of buyers looking to get shares in the ship’s company in late months .
Arc wants to make venture debt pop again : Arc is take on the $ 30 billion venture debt manufacture with a Modern marketplace for startups .
GenAI could make KYC effectively useless : There ’s no grounds that GenAI tools have been used to gull a real “ have it away your customer ” system — yet . But some relatively convincing deepfaked ID images are cause for alarm .
Scoop : Treasure Financial lays off faculty just months after account ‘ volatile growth ’ : The layoff affected some 60 % to 70 % of the caller .
Other high-interest headlines
Fintech - focused Vetamer Capital shut down hedge fund
analyse Amazon ’s fiscal services scheme : Where the retail titan is focusing its campaign in fintech
Fintech support halved last class , but VCs are frantic about these areas and deals In 2024
Dispatch elevate $ 8 G in seed financial backing
PitchBook analyst note : Vertical opportunities in a reopen IPO window
Tally is n’t adding up
