Welcome to TechCrunch Fintech (previously The Interchange)! On this version, I’m going to have a look at some hits and misses in the actual property fintech house, Carta’s missteps (once more), and extra!
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The large story
Fairness administration platform Carta was within the information . . . once more. And never for good causes. Once more. A distinguished buyer accused Carta of misusing delicate data that startups entrust to the corporate in pursuit of its personal objectives. The declare raised wider questions on how Carta operates, at the same time as Carta argued the incident was remoted, and led to the corporate shutting down its secondary buying and selling operations. So what occurs to Carta now? Rebecca Szkutak does a deep dive. In the meantime, Alex and Anna argued that Carta’s progress story is being overshadowed by its inventory buying and selling snafu.
Evaluation of the week
The actual property fintech house continues to have its ups and downs. We began the week by reporting on the information that Right here, a fractional short-term trip rental market we first reported on in 2022, had shut down its funding platform after simply over two years of operation. The corporate claimed that it’s nonetheless alive, however we’re undecided precisely what’s left. Although so many corporations within the trade have struggled or shut down, traders aren’t giving up on it.
I additionally reported this week on Downpayments’ mission to assist traders buy new properties with interest-free down funds.
Lastly, we checked out Overmoon, which additionally has a novel mannequin that may be a hybrid of Airbnb and inns — however with the very best of each worlds. Hearken to the Fairness crew focus on Overmoon extra right here:
{Dollars} and cents
Latin American startups proceed to draw enterprise {dollars}. We reported on two raises out of the area:
Conta Simples grabs one other $41.5M for its expense administration method in Brazil
Prometeo raises $13M from PayPal, Samsung and extra to deliver open banking to Latin America
In the meantime, in Africa, YC-backed African fintech Cleva, based by Stripe and AWS alums, raises $1.5M pre-seed
And, right here within the U.S., Pier banks $2.4M to launch ‘Stripe for credit’
What else we’re writing
Deal Dive: A Stripe secondary deal price listening to: There apparently has been a flurry of patrons trying to get shares within the firm in current months.
Arc needs to make enterprise debt well-liked once more: Arc is taking over the $30 billion enterprise debt trade with a brand new market for startups.
GenAI may make KYC successfully ineffective: There’s no proof that GenAI instruments have been used to idiot an actual “know your customer” system — but. However some comparatively convincing deepfaked ID photographs are trigger for alarm.
Scoop: Treasure Monetary lays off employees simply months after reporting ‘explosive growth’: The layoffs affected some 60% to 70% of the corporate.
Different high-interest headlines
Fintech-focused Vetamer Capital shuts down hedge fund
Analyzing Amazon’s monetary companies technique: The place the retail titan is focusing its efforts in fintech
Fintech funding halved final yr, however VCs are enthusiastic about these areas and offers In 2024
Dispatch raises $8M in seed funding
PitchBook analyst word: Vertical alternatives in a reopened IPO window
Tally isn’t including up
Observe me on X @bayareawriter for breaking fintech information, posts about espresso and extra.