Welcome to TechCrunch Fintech (formerly The Interchange)
Apologies for being out last week — a cold got the best of me, but I’m back and here to talk about the fact that shutting down startups is big business, Stripe’s new valuation, Klarna’s latest AI update, and more.
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The Big Story
Last week, I wrote about two startups — Sunset and Simple Closure — that help other startups shut down, raising capital. Beyond the raises, the article was a deep dive into how and why this business has become one that is so sought after by investors. I also covered Stripe’s tender offer that resulted in a 30% higher bump in valuation — to $65 billion — for the payments giant. This means that the company likely won’t go public this year after all.
You can hear Alex Wilhelm and I discuss both topics on Friday’s Equity Podcast episode, where we break down the latest fintech news and trends. If you missed it, don’t worry! You can also listen to me talk to Nubank CEO David Vélez about a variety of interesting topics in our exclusive interview.
Analysis of the Week
Klarna has been in the news a lot lately. Last week, a failed coupon part of one investor, Sequoia Capital’s Matthew Miller, made headlines and resulted in his ousting. This week, the Swedish BNPL giant posted a narrower year loss ahead of its potential IPO. Then the company stirred up a bit of controversy when it said its new AI assistant is doing ‘the equivalent work of 700 human customer support agents’.
But what does this mean for the future of fintech? We take a closer look at the implications of Klarna’s latest move and how it will impact the industry as a whole.
Klarna’s AI Assistant: The Future of Fintech?
Klarna’s new AI assistant is designed to help customers with their purchases, answering questions and providing support in real-time. But what does this mean for the future of fintech?
With the rise of AI-powered customer service, companies like Klarna are looking to streamline their operations and provide a more personalized experience for their customers. But will this trend continue to grow, or is it just a fleeting fad?
We take a closer look at the pros and cons of AI-powered customer service in fintech and what it means for the industry as a whole.
Startups to Watch
From funding rounds to acquisitions, there’s always something new happening in the world of fintech startups. Here are some of the most exciting startups to watch:
- LemFi: With $53M in new funding, LemFi is making remittances easier for users across Asia and Europe.
- Clearwater: Clearwater has agreed to buy investment management platform Enfusion for $1.5B.
These are just a few of the many startups making waves in the fintech industry. Stay ahead of the curve with our daily roundup of the latest fintech news and updates.
Stay Ahead of the Curve
Want to stay up-to-date on the latest fintech news, trends, and analysis? Follow me on X (@bayareawriter) for breaking news, posts about coffee, and more. Don’t miss out on the action!
Top Stories in Fintech
- LemFi moves remittances further into Asia and Europe with $53M in new funding: Tage Kene-Okafor
- In Brief: Robinhood agrees to pay $45M in SEC settlement: Mary Ann Azevedo
- Fundraising: Clearwater agrees to buy investment management platform Enfusion for $1.5B: Kyle Wiggers
Stay ahead of the curve with our daily roundup of the latest fintech news and updates.
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