Welcome to TechCrunch Fintech! This week, we’re looking at how fintech heavyweights like Klarna and Stripe are incorporating crypto into their strategies, companies planning for IPOs, one fintech’s Super Bowl ad, Stripe’s new lead of startups and venture capital, and more.<\/p>\n
Khazna, an Egyptian fintech startup that offers financial services tailored toward low- and middle-income workers, recently secured $16 million in pre-Series B funding, bringing its total funding to over $63 million.<\/p>\n
Rapyd Financial Network is looking to raise $300 million in a new funding round that would value the global payments platform at $3.5 billion, a considerable decrease from its approximately $9 billion valuation set in 2021.<\/p>\n
Fintech-turned-HR outfit Deel is trying to lay the groundwork for an IPO. On February 4, it said its annual revenue run rate climbed to $800 million in 2024 after growing by 70%. It also sold $300 million in secondary shares to General Catalyst and an unnamed \u201csovereign investor.\u201d<\/p>\n
Superlogic, a startup that helps give consumers a way to apply rewards points toward experiences such as courtside tickets to NBA games, has raised $13.7 million at a $200 million valuation.<\/p>\n
A clearer picture of Bench\u2019s downfall is emerging thanks to newly released bankruptcy filings. The records show that the Canada-based startup, which ironically enough offered cloud accounting software for small businesses, consistently struggled to reach profitability. It burned through $135 million from its founding in 2012 to September 2024. By the time of its collapse, Bench was forced to shut down due to a \u201cliquidity crisis,\u201d the records say.<\/p>\n
Stripe has closed on its $1.1 billion purchase of stablecoin platform Bridge \u2014 marking the payment giant\u2019s largest acquisition to date and tangible push into crypto.<\/p>\n
In other Stripe news, TechCrunch learned that the payments giant has tapped Asya Bradley to serve as its Startups and VC Partnerships lead. Bradley previously held revenue roles at Synapse and Sila. She\u2019s also an LP in venture funds Ganas Ventures and Cowboy Ventures.<\/p>\n
Philadelphia Eagles\u2019 star running back Saquon Barkley has not only become an investor in fintech startup Ramp, but he was also the star of the company\u2019s first Super Bowl commercial.<\/p>\n
US consumer finance watchdog (CPFB) chief tells all staff to cease work, days after the Trump administration closed the bureau\u2019s headquarters for a week.<\/p>\n
Plaid working with Goldman Sachs on raising $300M to $400M in tender offer.<\/p>\n