Credit lines are a lucrative product. U.S. consumers alone pay $120 billion in credit card interest and fees every year, according to the Consumer Financial Protection Bureau. Given the revenue opportunity, it’s no surprise that there’s enduring interest from both startups and established...
embedded finance
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Daily Crunch: Xeneta raises $80M to build out its real-time analytics platform for shipping and air freight
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To get a roundup of TechCrunch’s biggest and most important stories delivered to your inbox every day at 3 p.m. PDT, subscribe here. The incomparable Mike Butcher just celebrated 15 years at TechCrunch. You get less for murder these days, so that’s a hell of a milestone, and (as far as we...
It always feels good to get paid, so it’s no surprise that a payroll model like earned wage access (EWA), which lets employees withdraw their accrued wages at any time, has exploded in popularity. The pandemic certainly played a big role in helping people understand the benefits of being able to...
Runa Capital kicks off new fund as it joins the VC ‘Scramble for Europe’ by moving to Luxembourg
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Runa Capital, which launched there in 2010, says it has raised $55 million towards its fourth fund, aiming for a hard cap of $250 million. And after 12 years in the US, the normally Palo Alto-based VC says it is now relocating its HQ to Luxembourg, to re-focus its attention on the European market,...
Pakistan’s Neem raises $2.5M to serve underbanked communities with its embedded finance platform
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Pakistan’s embedded finance platform Neem has raised $2.5 million in a seed funding round as it works to support underbanked communities in the country. The Karachi-based startup targets communities across sectors including agriculture, MSMEs, e-commerce, logistics, healthcare and others. It...
Solid, which rebranded from Wise in 2021, raised a $63 million Series B round of funding to continue providing its fintech-as-a-service offering for companies wanting to launch and scale their own fintech products. The San Mateo-based company works with fintech and vertical SaaS companies and...
Access to finance remains a key growth constraint for small businesses, with data showing a $330 billion financing deficit for the small enterprises that make up 90% of Africa’s businesses. This is the gap that Kenya’s embedded finance fintech Pezesha seeks to bridge as it expands into...
Nigerian YC-backed startup Anchor comes out of stealth with $1M+ to scale its banking-as-a-service platform
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In 2015, the emergence of fintechs such as Flutterwave and Paystack changed the game for online businesses in Africa by making it easier to integrate payments into customer interfaces without building those features from the ground up or merging with tacky foreign software. Amplify was another...
More companies are adding payments and other financial features to their offerings; however, this often requires technical expertise that some don’t have. Enter Deposits, a Dallas-based finance startup offering a cloud-based, plug-and-play feature to simplify the implementation of digital...
Africa’s appetite for cloud computing software continues to increase as connectivity and bandwidth opportunities push boundaries. Per reports, the continent’s cloud computing industry coupled with the Middle East is expected to grow to $31.4 billion in 2016 from $14.2 billion last...
Africa’s appetite for cloud computing software continues to increase as connectivity and bandwidth opportunities push boundaries. Per reports, the continent’s cloud computing industry coupled with the Middle East is expected to grow to $31.4 billion in 2016 from $14.2 billion last...
Wish to unlock new revenue paths for your business and that too from your existing products? Say hello to embedded banking & finance!Read the full...
Lordstown Motors released its Q1 earnings yesterday, and the electric vehicle manufacturer is facing a few challenges. Expenses were higher than expected, it plans to slash production by about 50%, and the company reported zero revenue and a net loss of $125 million. Oh, it also needs more...
Melbourne O’Banion Contributor Share on Twitter Melbourne O’Banion is co-founder and CEO of digital life insurance company Bestow. An estimated 41 million Americans say they need life insurance but have yet to purchase coverage. Despite...
COVID-19 has changed the world completely. The global lockdowns have led to huge losses for many industries. Amid all this chaos, industries with technological advantages have risen up to their peak. They have witnessed commendable growth and are expected to do the same in upcoming...
Embedded finance — the idea of offering financial products where customers are already congregating via white label solutions and APIs – isn’t an entirely new concept. In fact, in one form or another, such as point of sale credit, the concept has existed for years and long before Silicon...