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receive to TechCrunch Fintech ( formerly The Interchange ) ! This week , we ’re wait at a new finance - free-base dating app , Robinhood ’s net income termination and the inauguration in which PayPal Ventures made its first AI investiture . Let ’s dive in !
The big story
Analysis of the week
Robinhood ’s fund got a openhanded boost last hebdomad when the company posted a surprise net profit in the 4th quarter “ driven by higher sake income from client paying back loans and a rebound in trading , ” allot toReuters . It also reveal that it could be breakeven or profitableby next year . Shares climb to their highest price last week in most two years and close at $ 14 on Friday , up 17 % from a close of $ 11.94 on February 13 . When public fintechs do well , it usually means sound things for in camera held fintechs . CEO and Colorado - founder Vlad Tenev speak at TechCrunch Disrupt last class — read all about thathere .
Dollars and cents
Finom , a European challenger bank aim at SMEs and freelancers , hasraised € 50 million($54 million ) in a Series B fairness round of funding .
FlowFi , a startup creating a marketplace of finance experts for entrepreneurs , closed on$9 million in seed financing . Blumberg Capital led the investing .
Bold , a financial technology society establish an electronic payment infrastructure in Colombia , raised $ 50 million in Series C fundingin a round led by live investor General Atlantic .
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Exhibit at TechCrunch Sessions: AI
Rasa , an enterprisingness - focused colloquial reproductive AI political platform with financial services companies as client , raised $ 30 millionin a Series C cycle co - pass by StepStone Capital and PayPal Ventures . Notably , this marked PayPal ’s first AI investment .
What else we’re writing
India isfacing a quandaryin enforce long - delayed rule to hold in the dominance of PhonePe and Google Pay in the country ’s ubiquitous UPI payments meshwork , which treat over 10 billion transactions monthly .
After late launches in the U.K. and Ireland , workforce management platform Rippling is continuing its challenging international expansion with theopening of its Asia - Pacific headquartersin Sydney , Australia . The company alsopoachedEisar Lipkovitz from JPMorgan to dish as its new chief merchandise policeman .
Apple ’s recent move toboost the involvement ratefor its Apple Card savings report to 4.5 % is now instigate a competition to do the same . Cash App announced it will now offer “ up to ” a4.5 % APY ( annual share yield ) for its Cash App Savings client , with a few caveats .
Other high-interest headlines
Bolt , once worth $ 11B , slashes share price 97 % in buyback
Venture capital ’s optimistic that fintech deal will rebound in 2024
Parlay parent $ 1.3 M to provide inclusive access to financial resource for small businesses
Mia Share raises $ 6.5 million to facilitate digital tuition requital
redwood pressures former loss leader Moritz to result Klarna gameboard seat
Airbase appoints Forrester vet Mathew Schulz to procurement persona
Fintech garners over one - third of last calendar week ’s € 745 M seat in European technical school
