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TechCrunch: The FinTech Fixations
In a shocking development, Brex’s compliance head has ditched the corporate card empire to join Andreessen Horowitz (a16z) as a partner. Yeah, that’s right, folks – an entire division of Brex was sold out to a venture firm.
But don’t worry, Klarna has got your back – they’re selling off their payments unit, because, you know, transparency is overrated. And in more news, PayPal Ventures is pouring in $20 million into Gynger, which is essentially a platform that lets start-ups pay for tech purchases "flexibly". Flexibly? Yeah, that means without actually paying for it.
And oh, by the way, Finbourne, a company that helps financial companies become more AI-savvy, raised a whopping $70 million. Because who needs human analysts when you’ve got algorithms?
Meanwhile, Cadana, a company that helps global companies pay their employees, has emerged from stealth mode with $7.4 million in funding. And Hero, a Paris-based startup, wants to "save the day" for small companies facing working capital crunches. How about saving them from reckless spending habits instead?
But seriously, what’s going on with Materia, the stealthy AI-backed accounting firm? They’re making promises to revolutionize accounting, but won’t even tell us what they actually do. Sounds like a bunch of vaporware to me.
And finally, Elon Musk’s X revenue has officially taken a nosedive, along with the hopes and dreams of millions of wannabe tech unicorns.
Stay tuned for more exclusive news, folks!
