JS Fintech: What’s Trending in the World of Finance
Welcome to JS Fintech! This week, we dive into the latest developments in the fintech industry, from major players like Klarna and Stripe embracing crypto to upcoming IPOs, Super Bowl ads, and more exciting news.
The Big Story: Klarna’s Crypto Embrace
In a recent post on X, Klarna CEO Sebastian Siemiatkowski announced that the Swedish buy now, pay later giant would be embracing crypto. Klarna is also gearing up for a U.S. IPO in April with a target valuation of $15 billion, making it one of the biggest listings of the year. Despite a slight drop from its peak valuation of $45.6 billion, Klarna’s recent funding round of $800 million in 2022 valued the company at $6.7 billion.
Dollars and Cents: Funding Rounds and IPO Plans
– Egyptian fintech startup Khazna secured $16 million in pre-Series B funding, bringing its total funding to over $63 million.
– Rapyd Financial Network is looking to raise $300 million in a new funding round, valuing the global payments platform at $3.5 billion.
– Deel, a fintech-turned-HR outfit, is laying the groundwork for an IPO after seeing its annual revenue run rate climb to $800 million in 2024.
– Superlogic, a startup that allows consumers to use rewards points for experiences like NBA games, raised $13.7 million at a $200 million valuation.
– Bench, a Canada-based startup offering cloud accounting software, shut down due to a liquidity crisis and was acquired by Employer.com.
Stripe’s Crypto Push and New Leadership
Stripe made its largest acquisition to date with the $1.1 billion purchase of stablecoin platform Bridge, signaling a significant move into the crypto space. Additionally, the payments giant appointed Asya Bradley as its Startups and VC Partnerships lead, leveraging her revenue roles at Synapse and Sila.
In a surprising turn of events, Philadelphia Eagles’ star running back Saquon Barkley became an investor in fintech startup Ramp and starred in the company’s first Super Bowl commercial.
High-Interest Headlines in Fintech
– The acting CFPB chief instructed all staff to cease work, following the closure of the bureau’s headquarters for a week.
– Plaid is collaborating with Goldman Sachs on a $300-$400 million tender offer.
Stay tuned for more exciting fintech news next week! Follow @bayareawriter on X for breaking updates, coffee posts, and more.
