Banking executive and former presidential advisor Dina Powell McCormick and Stripe co-founder and CEO Patrick Collison are joining the board of Meta, according to a report from Axios. Powell McCormick spent 16 years in several leadership roles at Goldman Sachs. She also served as Deputy National Security Advisor to President Donald J. Trump during his […]

Digital payments platform Stripe invites customers to join its management team meetings on a bi-weekly basis so it can get “candid feedback,” according to co-founder Patrick Collison. In an April 8 post on X, the fintech giant’s CEO said the company has a customer join for the first 30 minutes of the meeting, which is […]

Daniel Ruskin started his career when he was a mere 14 years old as an engineer for Coinbase. As he tells it, he was a teenager “who knew how to code and wanted to build cool things.” Obviously too young to get a bank account, Ruskin did freelance development work he found on reddit in […]

Banking-as-a-service startup Solid (formerly called Wise) has filed for Chapter 11 bankruptcy protection, according to documents filed in the United States Bankruptcy Court for the District of Delaware on April 7. Founded in 2018, the fintech company had raised a total of nearly $81 million in funding from investors such as FTV Capital and Headline. […]

Doing laundry can be a chore. It takes time and is tedious. Few people like to do it. So it’s no surprise that startups have emerged to take that load off your back — literally. And investors are lining up to fund new and older players alike.  Eleven-month-old NoScrubs has just raised $2 million in […]

Last week, details emerged about an application that fintech giant Stripe had submitted for a U.S. banking license. There was a lot of chatter on X about whether this meant Stripe — already the largest privately valued fintech in the world — would now be adding “bank” to the list of descriptions of what it […]

Elisabeth Diana, head of communications at human resources platform Deel, is no longer with the company, according to her LinkedIn profile. Bloomberg first reported the news that Diana had resigned from Deel, which was recently accused of planting a spy at rival company Rippling. TechCrunch reached out to Diana but had not heard back at […]

Thatch, a startup that aims to transform the health insurance experience for employers and employees alike, has raised $40 million in a Series B round of funding, it tells TechCrunch exclusively. Index Ventures led the financing, which included participation from existing backers Andreessen Horowitz (a16z), General Catalyst, SemperVirens, PeopleTech Partners, The General Partnership, and new […]

Plaid, which connects bank accounts to financial applications, has sold about $575 million worth of common stock at a $6.1 billion post-money valuation, the fintech company confirmed to TechCrunch. The valuation is about less than half of the $13.4 billion that San Francisco-based Plaid was valued at when it raised a $425 million Series D […]

Rippling released the affidavit of the its employee who admitted he was spying for Deel. 

During the COVID-19 pandemic, mortgage interest rates dropped to historic lows — as low as 2.5%. Fast-forward a few years and rates soared — to highs nearing 8% in 2023, with the national average 30-year fixed mortgage APR as of April 1 still at 6.84%.  The whiplash has left many people seeking to buy homes […]

While working on their MBAs at Harvard Business School, Colombian immigrants Stephanie Murra and Lorenza Vélez noticed that most of the workers in the cafeteria were Hispanic. In conversations with them, a common theme kept coming up: how difficult it was for people who legally moved to the U.S. from Spanish-speaking countries to find their […]

As it gears up to go public, Chime is going all in on new features in an effort to attract more customers. The digital bank is offering customers who agree to have their paychecks directly deposited into a Chime savings or checking account an APY of 3.75%, it tells TechCrunch exclusively. For those who don’t […]

Prolific fintech investor and QED Investors co-founder Frank Rotman said Friday that he will transition to a partner emeritus role by year’s end to focus on founding his own startups. But those startups won’t necessarily be financial technology companies. In a post on X, Rotman — who helped start QED in 2007 — declared that […]

Mexico City-based Mendel has raised $35 million in a Series B round of funding, it tells TechCrunch exclusively. Corporate spend management platform Mendel last raised in December 2021 — a $15 million Series A round and $20 million in debt — after participating in Y Combinator’s Winter 2021 cohort. With this latest capital infusion, the […]

Digital banking startup Mercury has raised $300 million in primary and secondary funding at a $3.5 billion post-money valuation, the company confirmed to TechCrunch on Wednesday. The valuation is more than double the startup’s valuation when it last raised capital — a $120 million Series B round in 2021 that valued the company at $1.62 […]

Emergence Capital has closed its $1 billion seventh fund, it reported on Tuesday It’s the firm’s first raise in nearly four years. In May 2021, the San Mateo, California-based venture firm rounded up nearly a billion dollars in capital commitments across two funds.  At that time, it closed its sixth early-stage fund with $575 million; […]

Vertical farming company Plenty has filed for bankruptcy, the company said in a press release on Monday. In its statement, Plenty said it has received a commitment for $20.7 million in debtor-in-possession financing as part of a proposed restructuring plan. It plans to continue to operate a strawberry farm in Virginia and a plant science […]

Commercial services tech hasn’t historically been considered “sexy,” but the need for innovation in the space is enormous. That need has translated into a large fundraise for a company focused on streamlining commercial contracting processes. On Friday, BuildOps, which develops software for commercial services contractors, announced that it has raised $127 million in a Series […]

Germany’s Munich Re has signed a definitive agreement to acquire digital insurance company Next Insurance for $2.6 billion, the firms announced on Thursday. Founded in 2016, Palo Alto-based Next Insurance is focused on providing insurance to small-to-medium-sized businesses. It was last valued at $2.5 billion in late 2023 when it raised $265 million. Next Insurance’s […]