Technology
Fintech closures, Klarna’s entry into the banking sector and companies hiring
Welcome to TechCrunch Fintech! This week we take a look at the demise of Tally and Score respectively, in addition to examining Klarna’s latest business move. We even have an inventory of fintech companies seeking to add staff.
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Big story
Last week I informed about TallyThe 9-year-old fintech company that helped consumers manage and repay bank card debt has closed its doors after failing to secure more capital. After raising $172 million from investors like Andreessen Horowitz and Kleiner Perkins, the news got here as a shock to the fintech community. We don’t really know what exactly led to Tally’s demise, although some speculate that it was partly attributable to high rates of interest, nevertheless it’s sad news regardless. CEO and co-founder Jason Brown told me, “This decision was incredibly difficult, but I’m proud of what Tally has accomplished over the years. … While Tally’s journey is coming to an end, the quest to help people manage their debt more effectively continues, and I hope others will build on what we started.”
Also last week Dominic-Madori Davis reported that Resultdating app for individuals with good or excellent credit, closed in early August. Overall, startup closures have increased significantly this 12 months, based on multiple sources, including Card and dismissals.fyi.
Analysis of the week
Swedish fintech giant Clara announced last week that it was expanding into banking. The company started off as a buy now, pay later provider and has regularly expanded its offering over the years. Klarna is now offering a brand new “balance” account and the ability to earn cashback on purchases made through its app. While U.S. users can’t yet earn interest on money held in the account, European users can earn as much as 3.58%. The move puts Klarna in competition with other fintech firms corresponding to Revolut, in addition to the likes of Bank of America and JPMorgan Chase. It comes just months after the company launched a bank card in the U.S.
Dollars and Cents
As predicted, Revolut confirmed a brand new valuation of $45 billion through the sale of shares on the secondary market, making it one among the most respected private technology companies in Europe.
PayZenwhich goals to make healthcare cheaper by allowing patients to pay their bills in installments without interest or fees over time, closed a $32 million Series B funding round led by NEA.
TipRank rankingswhich uses artificial intelligence and other analytics to create data sets and other insights that help people make smarter stock decisions, was acquired for $200 million by Prytek, an organization that develops business process products for financial services, human resources and other enterprise sectors.
What else can we write?
I recently released connection asking about fintech companies that were hiring. In a little bit over an hour, I had greater than a dozen responses. In just a couple of days, I heard from dozens more. The sheer number — and quality — of responses surprised even me, someone who commonly writes about this space. We plan to update the hiring post commonly, so check back often!
In the face of accelerating pressure from regulatory authorities, Apple On Aug. 14, it announced it was opening up NFC transactions to third-party developers. NFC, or near-field communication, is the short-range wireless technology that powers Apple Pay and Wallet. The tech giant also said it generated a record $24.2 billion revenue from the services unit, including payments, in the second quarter.
High-interest headlines
Citi, Wells Fargo Team Up on $31 Million Funding Round for Lending Startup Setpoint
Tencent-backed Airwallex hits $500 million in annual sales, goals to organize for IPO by 2026
Sling Money raises $15 million for money transfer app
Banking technology startup Amount raises $30 million
Podcast listens
Listen to the Equity podcast where the team breaks down each closure Tally AND Result Here.
What’s the right solution to construct a software business? Many startup advisors say that B2B software should solve one problem, acquire customers, and then add features as the business grows. Serial founder Parker Conrad, now founder and CEO RipplingThe HR/payroll software startup, valued at $13.5 billion in April, thinks that’s the mistaken solution to do it. Conrad said on a recent episode of TechCrunch’s Found podcast that he thinks the advice given to software company founders over the past 20 years has been mistaken.
Technology
US medical device giant Artivion says hackers stole files during a cybersecurity incident
Artivion, a medical device company that produces implantable tissue for heart and vascular transplants, says its services have been “disrupted” resulting from a cybersecurity incident.
In 8-K filing In an interview with the SEC on Monday, Georgia-based Artivion, formerly CryoLife, said it became aware of a “cybersecurity incident” that involved the “compromise and encryption” of information on November 21. This suggests that the corporate was attacked by ransomware, but Artivion has not yet confirmed the character of the incident and didn’t immediately reply to TechCrunch’s questions. No major ransomware group has yet claimed responsibility for the attack.
Artivion said it took some systems offline in response to the cyberattack, which the corporate said caused “disruptions to certain ordering and shipping processes.”
Artivion, which reported third-quarter revenue of $95.8 million, said it didn’t expect the incident to have a material impact on the corporate’s funds.
Technology
It’s a Raspberry Pi 5 in a keyboard and it’s called Raspberry Pi 500
Manufacturer of single-board computers Raspberry Pi is updating its cute little computer keyboard device with higher specs. Named Raspberry Pi500This successor to the Raspberry Pi 400 is just as powerful as the present Raspberry Pi flagship, the Raspberry Pi 5. It is on the market for purchase now from Raspberry Pi resellers.
The Raspberry Pi 500 is the simplest method to start with the Raspberry Pi because it’s not as intimidating because the Raspberry Pi 5. When you take a look at the Raspberry Pi 500, you do not see any chipsets or PCBs (printed circuit boards). The Raspberry Pi is totally hidden in the familiar housing, the keyboard.
The idea with the Raspberry Pi 500 is you could connect a mouse and a display and you are able to go. If, for instance, you’ve got a relative who uses a very outdated computer with an outdated version of Windows, the Raspberry Pi 500 can easily replace the old PC tower for many computing tasks.
More importantly, this device brings us back to the roots of the Raspberry Pi. Raspberry Pi computers were originally intended for educational applications. Over time, technology enthusiasts and industrial customers began using single-board computers all over the place. (For example, when you’ve ever been to London Heathrow Airport, all of the departures and arrivals boards are there powered by Raspberry Pi.)
Raspberry Pi 500 draws inspiration from the roots of the Raspberry Pi Foundation, a non-profit organization. It’s the right first computer for college. In some ways, it’s a lot better than a Chromebook or iPad because it’s low cost and highly customizable, which inspires creative pondering.
The Raspberry Pi 500 comes with a 32GB SD card that comes pre-installed with Raspberry Pi OS, a Debian-based Linux distribution. It costs $90, which is a slight ($20) price increase over the Raspberry Pi 400.
Only UK and US keyboard variants will probably be available at launch. But versions with French, German, Italian, Japanese, Nordic and Spanish keyboard layouts will probably be available soon. And when you’re in search of a bundle that features all the things you would like, Raspberry Pi also offers a $120 desktop kit that features the Raspberry Pi 500, a mouse, a 27W USB-C power adapter, and a micro-HDMI to HDMI cable.
In other news, Raspberry Pi has announced one other recent thing: the Raspberry Pi monitor. It is a 15.6-inch 1080p monitor that’s priced at $100. Since there are quite a few 1080p portable monitors available on the market, this launch is not as noteworthy because the Pi 500. However, for die-hard Pi fans, there’s now also a Raspberry Pi-branded monitor option available.
Technology
Apple Vision Pro may add support for PlayStation VR controllers
According to Apple, Apple desires to make its Vision Pro mixed reality device more attractive for gamers and game developers latest report from Bloomberg’s Mark Gurman.
The Vision Pro was presented more as a productivity and media consumption device than a tool geared toward gamers, due partly to its reliance on visual and hand controls moderately than a separate controller.
However, Apple may need gamers if it desires to expand the Vision Pro’s audience, especially since Gurman reports that lower than half one million units have been sold to this point. As such, the corporate has reportedly been in talks with Sony about adding support for PlayStation VR2 handheld controllers, and has also talked to developers about whether they may support the controllers of their games.
Offering more precise control, Apple may also make other forms of software available in Vision Pro, reminiscent of Final Cut Pro or Adobe Photoshop.
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