Fintech opportunities, DAO dreams, Asian vendor revival.


Keeping track of the latest technology financial activities

Despite the slowdown With the venture capital movement, there is still a mountain of money pouring into startups today. TechCrunch+ is launching a series of posts about the latest, notable venture rounds, exit moves and other news related to the financial side of building new tech companies.

While banks are dealing with the crisis that began with the collapse of the famous and startup-friendly Silicon Valley bank, early-stage tech companies are still busy raising capital. They are also looking for exits. More the former than the latter considering the frozen IPO market. But while we wait for the revival of a key exit point for startups, we can still track where and how the money is flowing into their world.

Amazing rounds of the week

eToro reloads at $3.5B value.

  • After the SPAC deal failed to close, consumer trading service eToro was left without an expected new round of capital and a new valuation symbol. However, if the SPAC deal were to fall through, it had previously committed the capital it had raised to new funds.
  • The round is related to size (nine figures), industry (fintech has taken valuation pressure in recent quarters) and underlying financial results. In the year Despite some growth from 2020 to 2022, the company is down compared to the previous year’s 2021 period. This means we’re seeing a giant consumer-fintech company prepare for a new valuation under difficult circumstances. Fintech founders take note.

Seed Club Ventures Raises $25 Million to Make DAO Dreams Real

  • Many people speculated about the interest in DAOs or decentralized autonomous organizations and faded away with the crypto bros’ fortunes last year. But many people are still against the concept of communities making their own decisions about how to spend millions of dollars.
  • Seed Club Ventures, a 63-member coalition of VCs, individual investors, family offices and other entities that still believe in Web3, recently broke ground by raising $25 million in funding to help DAOs do just that.
  • This is important because that $25 million will go toward early-stage projects to build the tools that are so important to DAOs. He has already supported projects such as Guild, Stability AI, Lens and Metalabel. Such a tool would actually help DAOs to the point where they can realize some, if not all, of the potential that fully decentralized systems can bring.

IntegrityNext Raises $109 Million to Help Companies Ensure Their Supply Chains Are ESG Compliant

  • There’s a lot of politics surrounding environmental, social and governance (ESG) investment policies, and for good reason: Complying with ESG regulations requires companies to examine the breadth and depth of their operations to ensure they’re doing things responsibly. That can be expensive, tedious and time-consuming.
  • Munich-based Integrity Next is doing something very unique to help companies solve the problem: it helps companies audit their supply chains so they can see where and how they can optimize the supply chain and comply with ESG requirements.
  • This fundraising is great news for European companies, as they will have an easier time adopting previously “good-to-have” ESG policies as regulations in the EU tighten.

Creme runs to $742M in value because fashion nerds love the circular economy

  • In a world of abundance, some things are rare, that’s why there are luxury goods reseller platforms. The cream of the crop from Korean e-commerce giant Naver has only been around for two years, but the company has seen phenomenal success with fashion-savvy customers flooding the store in search of high-end rare sneakers, watches, bags, accessories and accessories. clothing.
  • Cream’s $168 million fundraising is interesting because the company is investing heavily in its peers, which spans the vast Asian territory — where a person in Japan can buy limited-edition sneakers that have only been launched in Japan.
  • It’s also great news for Asia’s growing resale market as consumers show interest in collectibles and other luxury items, prompting further investment in this space.

Credivo Raises Massive $270M Series D to Make Credit Accessible to Underbanked Asians

  • It’s no secret that the bank-owning population in Asia’s emerging economies is a huge market for fintech disruption, and it’s no secret that Kredivo, which aims to increase credit availability in Indonesia and Vietnam, has struck gold with a user base as large as Indonesia’s. A crowd with a credit card.
  • The company’s more than $270 million registered CREDIT is proof of its growth in making people’s lives easier and helping them access banking services easily and seamlessly.

Other startup and venture capital news

The venture slowdown is slowing even the fastest growing startup categories.

  • Sometimes even diamonds don’t have takers, and it’s a sad reality of the world that seems to be unfolding in startup land now: even previously fresh API startups are suffering from venture stagnation.
  • According to data from GGV, which tracks funding by 63 API companies, startups in this category will raise about $2.15 billion by 2022, less than half of what they raised a year ago. The number of discounts has also decreased. Q4 2022 saw such startups generate $134 million in revenue, down from the previous three quarters. That must be hard.
  • We worry about this issue because API startups are leading the charge with usage-based pricing models, arguably the future of software sales, and are still vulnerable to broader market pressures. Their struggles indicate that no matter how hot a sector you are in, the dollar is getting tougher.

Coinbase execs angered by SEC rain on their rally.

  • The crypto world is not happy with how lawmakers are handling it. The CEO of Coinbase recently said that pretty much only the government should make up its mind about the regulations after sending the SEC a well notice, which basically means that the government is going to come after Coinbase and companies “violating federal securities laws.”
  • We sorta agree with Coinbase here: there really isn’t much precedent for what’s going on in the crypto world, and the SEC’s nearly century-old rules that fit the crypto economy feel too much like a square-nail-triangle-hole situation.
  • It is clear that the SEC needs to strengthen its belief in how crypto should be traded so that the wider ecosystem can only follow the rules.

The ceiling will reduce 27% of workers in the second round of layoffs

  • Proptech startups are having a moment, and their employees seem to be paying for it. Rising mortgage rates and a general housing slowdown have not been good for companies that rely on people realizing their American dream.
  • But buying a home in this economy? A lot of people basically said, “Yeah, right,” which basically led to Roofstock. Less than two quarters.
  • The company is trying to stay afloat in a sinking housing market, which makes sense, but what it doesn’t is that it was valued at $1.9 billion a year ago. This is not good news for the broader proptech market right now.

4 Indian investors explain how their investment strategy has changed since 2021

  • Indian startups started 2022 on a positive note as the global venture slowdown has yet to reach the country. But it did, resulting in a 70% reduction in funding in the second half of the year.
  • While we’re sure investors around the country saw it coming, how did they get their sensors back into the new climate? After researching a few investors, Jagmet For starters, they’ve made sure to slow down, choosing to play safe bets and generally ensure that their portfolio companies have enough runway even if this downturn continues.
  • Indian investors are also telling their startups to take a step back, strengthen their business models and focus on the fundamentals to get to the next phase. Also pick up a round if necessary, because life > death.

Keep an eye out for the workforce unicorn as the tech IPO market reopens

  • Do you hear that? That’s Alex laughing, looking forward to all the S-1s we’ll get if HR Unicorns keep growing fast.
  • As unicorns like Deel, Velocity Global, Gusto and Ripple continue to expand into new markets and categories, the startup group’s ARR growth and normalized EBITDA output – and therefore, valuations – seem to be protected from the cold.
  • That means come IPO season, HR technology companies may be among the first out the door. One thing we’re curious about: How long can the startups in question grow without fighting each other, perhaps in the form of price cuts?


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