Topics
in vogue
AI
Amazon
Image Credits:Bryce Durbin/TechCrunch
Apps
Biotech & Health
Climate
Cloud Computing
Commerce
Crypto
Enterprise
EVs
Fintech
fundraise
Gadgets
Gaming
Government & Policy
Hardware
Layoffs
Media & Entertainment
Meta
Microsoft
privateness
Robotics
protection
Social
place
Startups
TikTok
transport
Venture
More from TechCrunch
Events
Startup Battlefield
StrictlyVC
Podcasts
Videos
Partner Content
TechCrunch Brand Studio
Crunchboard
touch Us
Welcome toTechCrunch Fintech ! This workweek , we ’re looking at just how many fintech ship’s company made it into Y Combinator ’s Winter 2024 cohort , how much funding slid in the first quarter , and more !
The big story
Y Combinator go for demonstration days for its Winter Cohort this week . As always , the TC team wasall over it . One thing that stood out to me was just how much fintech internal representation in their cohorts is shrink . Of the 260 company in the latest age bracket , nearly 30 of them , or 8 % , were classified as fintech . That compares to 10 % in the summertime of 2023 , 21 % in the summer of 2022 and 24 % in the winter of 2022 . So there was one - third the pct of fintech fellowship this yr compared to two years ago . Of the companies that were pick this year , Christine noticed thatcross - border fintech is hotright now .
Analysis of the week
Fintech fundingslid by 16 % quarter - over - quarterduring the three - month period end March 31 , according to CB Insights ’ Q1 2024 State of Venture Report . But even more troubling than the double - fingerbreadth dip was the fact that the $ 7.3 billion rear globally by fintech startups in the three - calendar month menses marked the lowest level the sphere has attend since early 2017 . On the plus side , there was a 15 % uptick in equity mountain - qualification last quarter , which “ mean investors retain to show interest in fintech solution — particularly payments technical school , ” consort to a CB brainwave spokesperson . During the three - calendar month period , 904 investment were made into fintech startups , which was higher than 786 in the previous quarter , signaling smaller spate size .
Dollars and cents
Manish Singh cover that Flipkart Colorado - laminitis Sachin Bansal is in talk of the town toraise capital for his young inauguration , Indian fintechNavi . Bansal is talking to investor to raise at a valuation of around $ 2 billion , three source familiar with the subject told TechCrunch . One source say he is seem to raise between $ 200 million and $ 400 million . Bansal has mostly self - funded Navi up to now , and this would be the Bengaluru - headquartered inauguration ’s first large outside fundraise since it was founded in 2018 .
What else we’re writing
For class , banks have been financing large renewable power projects , from utility - scale solar farms to horizon - spanning wind farm . But smaller projects , like install a heating heart in someone ’s home or retrofit low-cost housing , often get passed over . They simply have n’t been lucrative enough . But the requirement is there , which is why advocates have been clamoring for the federal administration to support a so - called greenish bank , which will subvent these sort of projects .
That green banking company is now a reality . Last Thursday , the EPAannouncedthat it had award $ 20 billion in grants from theInflation Reduction Actto eight organizations that willuse the money to make loansthat will help with those project , reports Tim De Chant .
Join us at TechCrunch Sessions: AI
Exhibit at TechCrunch Sessions: AI
High-interest headlines
Hapax launches with generative AI cock for fiscal services
Houston tech platform raises Series C rhythm backed by Mastercard
Brim Financial closes $ 85 M Series C led by EDC to fund US enlargement
Advent to buy Ryan Reynolds - backed fintech Nuvei in $ 6.3B deal
desire to reach out with a pourboire ? Email me at maryann@techcrunch.com or post me a subject matter on Signal at 408.204.3036 . you may also air a note to the whole TechCrunch crowd at tips@techcrunch.com . For more secure communications , click here to contact us , which includes SecureDrop ( direction here ) and links to encrypted messaging apps .
