Maybe we’ll see a fintech-related IPO by 2024


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Welcome to TechCrunch Fintech, formerly The Interchange! We’re back after a brief hiatus, and I can tell you that judging by the volume of pitches I received last week, venture investing in the fintech space is definitely picking up. This week, we’re looking at Plaid’s latest step toward an IPO, one BNPL company’s financial results, and more. Let’s dive in!

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The big story

Plaid announced this past week that it had Hired its first ever president. Notably, the former Cloudflare chief product officer, Jen Taylor, has plenty of experience in helping take a private company public — something we expect Plaid will be doing in the relatively near future. Coincidentally, i was already working on an “Here are the fintech startups that could go public in 2024” piece. With the help from F-Prime Capital I compiled a short list of fintechs with the potential to be listed sooner rather than later. Klarna and Stripe were just a few.

Analysis of the Week

Affirm, a company that offers a buy-now, pay-later option, released its earnings last week. Investors were cautious despite the fact that Affirm reported a 48% increase in revenue, to $591 million from estimates of only $521 million. After a 7% surge on Thursday, shares fell by almost 11% on Friday. $43.86. It’s important to note, though, You can also find out more about us here. this is not that far from Affirm’s 52-week high and is Nearly double what it was tradedAt in November. In general, fintechs that are publicly traded had a more successful year in 2018. “Aggregate market cap reached $573B by year-end 2023, up from the trough of $389B in December 2022 — but down from a $1.3T peak in September 2021,”F-Prime Capital, per email.

Dollars and cents

Ingrid got a great scoop when she learned that Entrust was BuyOnfido is a startup specializing in AI-based ID verification that has raised more than $400 million.

New unicorn alert! Romain reported that accounting software startup Pennylane became France’s latest unicorn with a €40 million fundraise.

Meanwhile, Christine reported that another accounting startup — Finally — Raising $10 MillionEquity funding. Finally, a Miami company, aims at helping businesses automate their accounting and finance functions.

Ramp: A new spend management startup The AI-powered startup, Venue, has been acquired as it expands its procurement offering, and Metronome’s usage-billing software finds a hit in AI as the startup Raising $43 million in new capital.

What else we’re writing

Jio Financial Services, a spin-off of Reliance Industries, said that it was Negotiating with PaytmThe wallet business is acquired by Quashing “speculative” media reports as the firm scrambled to put out a fire from the central bank’s clampdown the previous week.

An Indian parliamentary committee has The government is urged to act to support the growth of domestic fintech players that can provide alternatives to the Walmart-backed PhonePe and Google Pay apps that currently command more than 83% of the country’s digital payments market.

PayPal is working to improve its services New consumer appIt was suggested that the company would be able to offer mobile services to its customers. “ready”Take advantage of the new EU regulation Digital Markets Act when it comes into effect next month. “gatekeepers”Like Apple.

Don’t miss Tage’s deep dive on how African startups are Faced with many of the Same ProblemsFintechs in mature markets like the U.K., and the U.S.

High-interest headlines

Kin Insurance invests $15M to fuel growth

Shepherd, a construction insurance tech startup, has raised $13.5M in Series A funding

RealReports raises seed funding of $2M

Pagaya Secures Credit Facility of $280 Million for AI-Driven Consumer Financing Products

Navro raises 14m dollars to revolutionise the global payments industry.

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