Bank runs were only part of the story this week. And as the FinTech IPO Stock Index sank for another week, down 2.5%, the positive returns year to date are getting winnowed down. The index is up just under 7% since 2023 dawned. Interest rates...
India’s FinTech platform PhonePe has raised another $200 million, this time with the help of Walmart. The funding, announced Friday (March 17), comes one month after the company announced it had raised $100 million in a round that valued it at $12 billion. This new...
The past week’s been dominated by bank runs, by lifelines thrown to banks, by bank rescues. And yet, in the midst of a whipsaw week for tech stocks, there was other news. Earnings continued to trickle in, helping to send the FinTech IPO Stock Index...
These are tough times to be a publicly traded tech company. The last few days have been seismic in the industry. Silicon Valley Bank’s gone under. Signature Bank has collapsed, too. Stocks have gyrated, to put it mildly. Dee Choubey, CEO of MoneyLion, told Karen...
According to one recent analysis, 91 publicly listed FinTech companies burned through $12 billion in venture capital in 2022, and just 17 posted a net profit from those investments. If it sounds like a familiar story, then you’ve likely been through at least one market...
It’s almost an eerie coincidence. Nearly three years to the day that the World Health Organization declared the novel Coronavirus a global pandemic, Silicon Valley Bank collapsed. The mass exodus of deposits that fled the bank in the 48-hour period between the time that SVB...
It wasn’t just crypto that had investors running for the exits. And it wasn’t just talk of more rate hikes from the Fed that had investors hitting the sell button. This week’s downdraft for the FinTech IPO Index was a confluence of above, yes, but...
The FinTechs are burning through cash. The capital markets are pulling back. The FinTech IPOs are underwater. So coming back to Wall Street for more money may be tough sledding. The FinTechs that have gone public since March 2020, if that is the date —...
Stripe’s latest fundraising round is reportedly being driven by a $3.5 billion tax bill. The firm aims to cover this personal tax liability that will soon be faced by some of its longtime employees, whose shares will expire unless they are allowed to sell them,...