TechCrunch Fintech welcomes you! This week, we are discussing the closures of Tally and Score, and exploring Klarna’s new business move. We also have a list of fintech companies that are looking to hire more people.
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The news last week was about Tally, a fintech company that closed after struggling to secure more funding. Despite raising $172 million from investors like Andreessen Horowitz and Kleiner Perkins, Tally’s closure was unexpected. The reasons for its demise are not entirely clear, but some believe it was due to high interest rates. CEO Jason Brown acknowledged the difficulty of the decision but expressed pride in Tally’s achievements. Similarly, the dating app Score also shut down in early August.
Klarna, a Swedish fintech heavyweight, announced its expansion into banking last week. Initially a buy now, pay later provider, Klarna now offers a new “balance” account and cash back rewards on purchases made through its app.
Revolut has confirmed a new valuation of $45 billion, making it one of Europe’s most valuable private tech companies. PayZen, a healthcare payment solution, raised $32 million in Series B funding, while TipRanks, an analytics company for stock market bids, was acquired for $200 million.
Apple announced it is allowing third-party developers access to NFC transactions, and reported a record $24.2 billion in revenue from its services unit in the second quarter.
Citi and Wells Fargo participated in a $31 million funding round for loan startup Setpoint. Airwallex, backed by Tencent, achieved $500 million in annualized sales and aims to go public by 2026. Sling Money raised $15 million for its money transfer app, and Amount, a banking tech startup, secured $30 million in funding.
Listen to the Equity podcast for insights on the shutdowns of Tally and Score. Parker Conrad, founder of Rippling, a HR software startup, challenged traditional advice for building a software business on a recent TechCrunch podcast episode.
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