Welcome to TechCrunch Fintech (formerly The Interchange)!
This week, we’re looking at a new finance-based dating app, Robinhood’s earnings results, and the startup in which PayPal Ventures made its first AI investment. Let’s dive in!
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The Big Story: A New Dating App for People with Good Credit
Launched by financial platform Neon Money Club, Score is a dating app designed specifically for individuals with good to excellent credit (at least a 675 credit score). This innovative approach aims to raise awareness about the importance of finances in relationships. TC’s Dominic-Madori Davis gave us an in-depth look at what the startup hopes to achieve and how it came into existence.
We also had a chance to read through the comments on X and LinkedIn, which were quite entertaining!
Analysis of the Week: Robinhood’s Surprising Earnings Results
Last week, Robinhood’s stock saw a significant boost after the company posted a surprise profit in the fourth quarter. According to Reuters, this was driven by higher interest income from customers paying back loans and a rebound in trading. What’s more, Robinhood revealed that it could be breakeven or profitable as early as next year.
Shares climbed to their highest price last week in nearly two years, closing at $14 on Friday (up 17% from a close of $11.94 on February 13). When public fintechs do well, it usually means good things for privately held fintechs. CEO and co-founder Vlad Tenev spoke at TechCrunch Disrupt last year – you can read all about that here.
Dollars and Cents: Funding Rounds
Here are some recent funding rounds that caught our attention:
- Finom: A European challenger bank aimed at SMEs and freelancers, raised €50 million ($54 million) in a Series B equity round of funding.
- FlowFi: A startup creating a marketplace of finance experts for entrepreneurs, closed on $9 million in seed funding. Blumberg Capital led the investment.
- Bold: A financial technology company building an electronic payments infrastructure in Colombia, raised $50 million in Series C funding in a round led by existing investor General Atlantic.
- Rasa: An enterprise-focused conversational generative AI platform with financial services companies as clients, raised $30 million in a Series C round co-led by StepStone Capital and PayPal Ventures. Notably, this was the first investment made by PayPal Ventures.
More Funding Rounds to Watch:
- LemFi: A fintech company moving remittances further into Asia and Europe with $53M in new funding.
- Clearwater: Agrees to buy investment management platform Enfusion for $1.5B.
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Related Stories:
- LemFi moves remittances further into Asia and Europe with $53M in new funding
- How Barcelona became an unlikely hub for spyware startups
- Robinhood agrees to pay $45M in SEC settlement
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