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So today, I will write about 2020 in the context of tech/startups/VC/crypto. One of the big ahas of 2020 was how much time and productivity is wasted on commuting and how much more productive we have all become without it. And they finance the trend that they are directionally correct about. That’s just how things are.
USV TEAM POSTS: Albert Wenger — Apr 12, 2020 Help Promote Earth Day Live Hannah Murdoch — Apr 8, 2020 What We’re Learning About How We Learn Hanel Baveja — Apr 8, 2020 What We’re Learning About How We Learn Nick Grossman — Apr 3, 2020 Quarantine Creativity. It makes a lot of sense.
As I wrote yesterday , I think the trends that were accelerated in 2020 will not reverse in 2021, although the slope of the adoption curves will likely flatten a fair bit. We will see it accelerate in 2021. We will see this approach accelerate in 2021 and expand into areas beyond the financial sector.
That is because we are already into a pretty meaningful transition from an industrial/physical economy to a knowledge/digital economy and the very nature of this macro event is accelerating that transition in many ways. The entire decentralized finance stack (fintech 2.0) We just won’t go back to doing some things the same way.
Amazon Web Services (AWS) today launched a new program, AWS Impact Accelerator , that will give up to $30 million to early-stage startups led by Black, Latino, LGBTQIA+ and women founders. But critics contend that AWS Impact Accelerator doesn’t go far enough in supporting historically marginalized entrepreneurs.
The automation of QA is a secular trend that perhaps accelerated with more software engineers working from home. The question for 2021 will be: how will vaccinations and a return to normalcy change consumer and enterprise buying behaviors, and consequently, startup financing rates in different categories?
Onramp Funds , an Austin-based company providing financing to e-commerce sellers, secured $42 million in equity and credit to expand its working capital offering. CEO Eric Youngstrom founded the company in 2020 after a career at multicarrier shipping software company ShippingEasy. Amazon set the standard there.”.
billion, achieved in under five years since its founding in 2020. A Platform for All Industries Islands product is already being used across a wide array of industries, including finance, government, higher education, manufacturing, hospitality, and retail. This latest raise propels the companys valuation to an impressive $4.8
Nigerian startup Xend Finance uses decentralized finance (DeFi) to address currency devaluation. This gave birth to Xend Finance.” Not only is Xend Finance trying to protect credit unions from fluctuation, but it is also changing how they operate. Image Credits: Xend Finance. Image Credits: Xend Finance.
In 2020, all the long-term trends forcing change in this sector continued and even accelerated. Among them, millennials decamped from their rentals in crowded cities to accelerate their first home purchases to the benefit of proptech companies and challenger mortgage players alike. Public fintech stocks rose 97% in 2020.
That’s the gap that revenue-based financing platforms like GetVantage want to fill. This brings GetVantage’s total raised so far to $40 million, along with a seed round in 2020, the same year it was launched by Bhavik Vasa and Amit Srivastava. Vasa said companies typically repay financing in about six to nine months.
Finantier , a Singapore-based open finance startup, wants to streamline that data with a single API that gives financial services access to user data, with their consent. Open finance grew out of open banking, the same framework that Plaid and Tink are built on.
The pandemic of 2020 has tested most sectors of the economy. Alex Haro says that when they only had a few weeks of runway left and weren’t sure if their next round of financing was going to close, they tried every crazy idea they could think of. But chronic stress is something that can become debilitating.
In 2020, the company reported $361 million in revenue (£261 million) — that’s a 57% increase compared to 2019 revenue of $229 million (£166 million). In particular, Q1 2020 was a particularly bad quarter with $76 million (£55 million) in adjusted operating loss. In 2020, total non-adjusted operating loss reached $277 million (£200.6
Silicon Valley peer-to-peer car rental startup Getaround has secured a $25 million loan from Horizon Technology Finance Corporation. The financing announcement comes one month after Getaround raised $140 million from investors, including SoftBank Vision Fund, Menlo Ventures, Reid Hoffman and Mark Pincus’ Reinvent Capital.
million Series C that Austin-based The Zebra raised in February of 2020. The Zebra doubled its net revenue in 2020 to $79 million compared to $37 million in 2019, according to Melnick , who is former president of travel metasearch engine Kayak. And The Zebra has increased its headcount to over 325, compared to about 200 in early 2020.
Lee Fixel’s Addition — which has also backed the likes of Flipkart, Stripe and Coinbase — led the equity financing while the credit facility was secured in the form of purchased assets from funds managed by Neuberger Berman. It started off with earned wage access and then began accelerating payments for workers.
billion between July 2020 and June 2021, per research by New-York based research firm Chainalysis. The second iteration has been more around like decentralized finance and non-custodial trading of financing activities,” said Bademosi. million pre-seed to that end.
Tonik’s acquisition of TendoPay is a testament of our passion for accelerating financial and credit inclusion in the Philippines. Kacper Marcinkowski, Tendo’s Chief Executive Officer, said that they share Tonik’s commitment in driving financial inclusion since their trailblazing start in 2020.
Catalyst Fund , a global accelerator managed by BFA Global , announced the 8th cohort for its Inclusive Fintech Program today. The accelerator, backed by the JP Morgan Chase and Bill & Melinda Gates Foundation, runs the flagship program annually. In 2020, all five countries had representatives in the accelerator.
Today, the company announced a $10M Series A financing round led by the European Bank for Reconstruction and Development (EBRD) and digital health fund Heal Capital , with participation from existing investors Karma Ventures, Inovo Venture Partners, and Dreamit Ventures. This new #investmentround marks a significant milestone for Infermedica.
Skit announced today it has closed $23 million Series B round to accelerate its growth in domestic and global markets including the US and South East Asia and enhance its voice automation platform. The company said it has quadrupled its amount of revenue and numbers of customers in 2020-2021 since its previous fundraising, $5.1
Finally raises $95M for its SMB finance suite : Everything is fintech, so it won’t surprise that you that Finally, which offers bookkeeping and other software products to SMBs, is working to roll out a lending product. accelerator Subak’s latest cohort – six companies in its 2022 group that we describe as “data-for-climate not-for-profits.”
Register Indonesian digital bank Superbank , supported by Grab, Singtel, and Emtek Group, is collaborating with Singapore’s Genesis Alternative Ventures to offer a financing package of $40 million for startups in Indonesia. Bookmark ( 0 ) Please login to bookmark Username or Email Address Password Remember Me No account yet?
In March 2020, the company made headlines for laying off nearly 300 employees in the face of a slowdown in business related to the pandemic. It was at that point that TripActions made the decision to accelerate the timeline for its fintech expense product, TripActions Liquid, which had launched only a month before the pandemic.
The two entities will oversee NJ FAST’s accelerator program with an opportunity to make equity investments into select participating companies. million in the fintech accelerator. From 2020 to 2022, Plug and Play was the most active startup accelerator in the world, according to CB Insights.
On Tuesday, DeHaat , an online platform that offers full-stack agricultural services to farmers, said it has raised $30 million in a new financing round as the Indian firm looks to maintain its accelerated growth despite the pandemic. We wrote about DeHaat last year, when it had raised a $12 million financing round.
The $75 million investment comes in addition to a previously undisclosed $50 million investment made as part of Joby’s Series C financing round in January 2020 , Uber said. “This deal allows us to deepen our partnership with Joby, the clear leader in this field, to accelerate the path to market for these technologies.”
China’s venture capital market, meanwhile, is easing as others accelerate. Chicago is an outlying benefactor from accelerating venture capital activity and the rise of remote investing. The pace at which Chicago-area startups have raised capital reached a new, high plateau starting in the second half of 2020.
This week, I covered Zeta, a new startup working on joint finances for modern couples. Here’s what I learned : The success of Zeta hinges on the idea that people want to share their finances in an ongoing and meaningful way, and that the world of finance is ready to shift from individualism to collectivism earlier and louder.
Last November, we surveyed 13 of the top robotics-focused VCs to find out which areas of robotics are exciting them most going into 2020. The main thing is getting construction companies and contractors to accelerate their adoption of the tech and the labor shortage issue is putting substantial pressure on them to act.
How fintech and serial founders drove African pre-seed investing to new heights in 2020. In a region where more than half of the population is either unbanked or underbanked , these open finance players are trying to improve financial inclusion on the continent.
Dr. Abrar Chaudhury is a climate finance research fellow at Oxford Said Business School researching on topics of global environmental change, climate finance, policy implementation, sustainable development, and corporate purpose. VCs invested nearly $50 billion in climate-tech companies between 2020 and 2021. Contributor.
The company has benefitted from the convergence of two trends sparked by COVID-19 that has turbocharged its business: an accelerated adoption of fintech across the economy and growing attention toward personal finance. . MotoRefi said it refinanced more than $250 million of auto loans in 2020.
Previously, he worked in finance and founded an IoT coffee company. As a result, categories that make up productivity infrastructure — cloud communications services, API platforms, low-code development tools, business process automation and AI software development kits — grew exponentially in 2020.
million in new debt financing. BofA Securities served as lead arranger and bookrunner for the new financing, with participation from Barclays, Credit Suisse and Morgan Stanley Senior Funding. Steinberg and former Apple CEO John Sculley, is announcing an additional $222.5 billion customer identifiers.
This adds up to a total of $205 million in equity and debt financing, which the New York-based fintech plans to primarily use to invest in technology and build “more expansive products to continue to cover the entirety of corporate spend and cash management,” its CEO Everett Cook told TechCrunch. was close to $1.4
Divibank , a financing platform offering LatAm businesses access to growth capital, has closed on a $3.6 São Paulo-based Divibank was founded in March 2020, right as the COVID-pandemic was starting. Divibank will use its new capital to accelerate its product roadmap, scale its go-to-market strategy and ramp up hiring.
Data from the Global Sustainable Investment Alliance highlights a staggering 605% increase in Sustainably-Themed Investing in 2020 compared to 2016. For instance, South Korea’s Ministry of Economy and Finance, in collaboration with related agencies, introduced the K-ESG guidelines in 2021.
The numbers will set us up to understand what else can be learned about Duolingo’s business beyond our original deep dive into the company’s finances — specifically underscoring the pressure cooker it finds itself in when looking for new revenue sources. million monthly active users (MAUs); it wrapped 2020 with 36.7 million MAUs.
The new financing also makes Trendyol Turkey’s first decacorn, and among the highest-valued private tech companies in Europe. Specifically, the company plans to continue investing in nationwide infrastructure, technology and logistics and toward accelerating digitalization of Turkish SMEs. billion valuation.
The financing is notable for a few reasons. For one, that new $6 billion valuation, is up 50% from the $4 billion it was valued at last November when it raised $200 million in Series D financing. But as of October 2020, it was funding over $2.5 For some context, Better.com funded $25 billion in loan volume in all of 2020.
Venture capital firms, which provide equity financing for early- and growth-stage startups, play a critical gatekeeper role, deciding which new technologies and technology companies will receive funding. Amnesty International recently surveyed the world’s largest venture capital firms and startup accelerators.
The company is financing tens of thousands of loans per month, according to chief executive officer and co-founder Travis Holoway, and loan volumes are growing at about 40% monthly, he said. That service, rolled out in April of last year, helped account for some of the explosive 2,000% growth that the company saw over the course of 2020.
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