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A huge fintech release at the end of the week – TechCrunch

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Our thanks to everyone who wrote this week about the newsletter format changes! Comments are largely categorized into two themes: some people really like the more narrative format, and some people really want a more link list type missive. What follows is an attempt to balance the two perspectives.

From today we bold company names, so you can pick startups faster, add more bulleted points to sections, and with another comment, include more regular descriptors of companies that are not familiar names.

That said, we won’t give up chatting with you every day, because TechCrunch is nothing if not plenty to talk about. So here’s a mix of what the new updated Daily Crunch team had in mind and your notes. Many thanks to everyone who wrote!

Alex @alex on Twitter

A mega-release for American fintech

News that state-owned fintech will buy Divvy, a Utah-based startup that helps small and medium-sized businesses manage their expenses, was perhaps the biggest startup story of the week. Breaking Thursday night, the $ 2.5 billion deal was long overdue. Divvy had raised over $ 400 million from PayPal Ventures, New business associates, Insight Partners and Pelion Venture Partners.

TechCrunch covered the impending sale, rumors of which arose before released its first quarter results. Seeing the company abandoning the news along with its profits was no surprise. For the booming corporate payments space (more info here on startups in the space like Ramp, Air-base and Brex).

I got to noodles over’s detailed financial results for Divvy – these are pretty key metrics to help us assess which startups are competing to go public or to find a similar feathered business nest. In short, the business spending startup cohort is doing very well. It even gives birth to new startups like those focused on Latin America. Clara, which raised $ 3.5 million earlier this year.

Globally, the fintech market has had a huge first quarter and is making its way into a record year in venture capital, like AI startups and the rest of the venture capital world.

Startups and venture capital

  • Start-up employees should pay attention to Biden’s capital gains tax plans – Vieje Piauwasdy, director of Secfi, a company that helps startup workers manage their equity, has notes on the current political climate in a key startup market, the United States.
  • Tiger Global bets more schools will share future student income – Tiger Global invested in Blair, a startup that wants to help universities offer revenue sharing agreements, or ISAs, to students. Natasha has the latest trend, and, of course, the recently ubiquitous Tiger investment group.
  • SoftBank leads $ 15 million round for Chinese industrial robot maker Youibot – a well-known Japanese conglomerate SoftBank Asian venture capital group invests $ 15 million in Youibot, a Chinese startup that builds “autonomous mobile robots”, Rita reports.
  • GajiGesa, a fintech focused on Indonesian workers, adds strategic investors and launches new app for micro-SMEs – GajiGesa, a start-up that provides ‘access to earned wages’, or EWA in the Indonesian market, has raised an undisclosed amount of new capital, following its February round of funding valued at 2.5 billion dollars, backed by and Quest Ventures.

5 investors discuss RPA’s future after UiPath IPO

Recently, a lot of ink (erm, pixels) has been poured into robotic process automation (RPA), especially as a result of UiPath IPO last month.

But while some of the individuals Ron When asked about the future of RPA believe the technology is in its “early stages,” the pandemic has increased attention to things we can let robots handle for us. And it’s hard to argue that repetitive tasks like billing, spreadsheet, and paper mailing should do not be subcontracted to robots.

“RPA allows companies to automate a bunch of very mundane tasks and have a machine do the work instead of a human,” Ron writes. Consider finding an invoice amount in an email, placing the number in a spreadsheet, and sending an Soft message to accounts payable. You could have humans do this, or you could do it faster and more efficiently with a machine. We are talking about amazing work that is well suited for automation. “

Although RPA is the fastest growing category of enterprise software, the market remains surprisingly small. Ron spoke to five investors about the direction of the industry, the opportunities and the biggest threats to the RPA startup ecosystem.

(Extra Crunch is our membership program, which helps founders and startup teams move forward. You can register here.)

The giants of technology

It was a quieter day for the tech giants, who made plenty of news earlier in the week. The good news is that their relative calm means we can take a peek at news from other Big Tech companies, the ones not yet breaking the $ 1 trillion market cap threshold:

  • Walmart’s Flipkart will cover insurance for all sellers in India and waive the extra charges – Remember the US retail giant Walmart owns Indian e-commerce giant Flipkart, which “exempts storage and cancellation fees for sellers in its market and also provides them with insurance coverage” in light of the COVID-19 outbreak in the country. A good hit.
  • Credit Karma reinvents cash back with instant refund – American Consumer Credit Fintech Credit Karma, who sold to Intuit for more than $ 7 billion last year, is trying to reinvent the cash back system popular among credit cards for its users using a debit card, Mast reports.
  • A conversation with Bison Trails, the AWS-like service inside Coinbase – Now a public company, Coinbase, a cryptocurrency exchange with easy ramps to the more traditional world of fiat banking, has a small, secret business helping it fuel it from within called Bison trails that it brought back time. Connie dig.
  • Twitch UX teardown: the anchor effect and risk reduction decisions – Finally, UX guru Peter Ramsey from Designed for Mars return to Tic, the popular streaming platform that Amazon bought years ago.


Some of us are mourning the closure of Nuzzel, so we asked … would you pay it (and why)? Tell us what you think!

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