Stripe has made significant announcements in the fintech space. The company has decoupled payments from its other financial services, allowing businesses to use Stripe’s non-payment services without being payment customers. Stripe has also introduced new embedded finance features and AI tools, and will now enable cryptocurrency payments in USDC.
In Brazil, QI Tech has become the latest fintech unicorn after raising an undisclosed amount of capital. The company plans to acquire Singulare, a fund administration services provider. Another Brazilian startup, Vixtra, has secured $36 million in funding to continue its growth.
Bump, a creator management platform, has raised $3 million in seed funding. The company helps creators track income and market value, enabling them to negotiate better deals and manage their finances.
Fintoc, a B2B fintech startup, has raised $7 million in Series A funding to expand its presence in Chile and Mexico. Pomelo, a startup that facilitates remittances from the United States to the Philippines, has raised $35 million in Series A funding.
CRED, an Indian fintech startup, has received approval for a payment aggregator license, boosting its ability to serve customers, launch new products, and experiment with new ideas.
Conversely, Fundid has closed its doors due to rising interest rates and challenges from VCs and partners. Synapse, a banking-as-a-service startup, has filed for bankruptcy, with TabaPay acquiring its assets.
Despite these setbacks, the fintech industry continues to grow, with startups like 401Go and Ramp attracting investor interest. VCs caution that the rivalry between Ramp and Brex could become as intense as the competition between Uber and Lyft.
