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🌊The Fintech Wave(#28)

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🌊The Fintech Wave(#28)

Hrvoje Pavisic
and
Nino Pavicic
Mar 21, 2022
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🌊The Fintech Wave(#28)

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TLDR; Ramp valued at $8.1B. Insrutech Yago raised €2.2M. Household🏠 bill management software. Magic Eden raises $27M.

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Disconnection between public & private market valuations in fintech right now👇

Klarna, a private company, is a Buy Now Pay Later solution that is valued at $45.6M after that last round of funding in 2021. That valuation is higher than the combined valuation of 5 public fintechs:

Robinhood ($11B)
Toast ($9.4B)
Affirm ($9B)
Sofi ($7B)
Upstart ($8.8B)

Interesting to see this, because it looks like as long as the company is private, valuation is just based on founders’ and investors’ agreement.

(picture source: Twitter @ RobertCollings_)

Europe News and Funding

Insrutech Yago raised €2.2M

Digital insurance broker raised money and changed its name from Seraphin to Yago (because its better suits for expansion outside Belgium)

For insurtech, Belgium is a huge potential market because less than 10% of people buy insurance online. Yago is leveraging a network of partner insurances to find and offer the best one for its customers - like a search engine for insurances. When using Yugo, the customer gets online offers within 3 minutes.

The startup currently has around 8000 customers. A business model is very simple - Yago gets % of every insurance policy sold through their website.


Americas News and Funding

Ramp💳 valued at $8.1M

Corporate card company, Ramp, just raised $750M at an $8.1B valuation. Less than a 2 years ago the company was valued at around $250M

Ramp’s statistics are even more impressive: Ramp is the fastest-growing SaaS or fintech company of all time by revenue. It grew to a $100 million revenue run rate in two years from launch. The company wants to be the transaction layer for business - a $100 trillion market. They ship new products almost every month; they even launched a service to negotiate software deals for its customers.

I wouldn't be surprised if Ramp become $100B company in the next few years.

Household🏠 bill management software

If you have a lot of bills to pay each month, there is an app for that. Doxo raised $18.5M Series C to provide a better bill paying experience for users and billers. The idea is pretty simple - a central portal to pay for all your bills free of charge when directly from the bank account.

For $4.99 per month, customers can upgrade to Doxo Plus which offers $1 million of loss-protection insurance for identity theft and identity restoration services, credit-score monitoring, and overdraft and late-fee protection. More than 7 million people are currently using Doxo.


Crypto ₿ites

Solana NFT🖼️ marketplace raises $27M

Magic Eden, is the largest NFT marketplace on Solana with over $200M of the trading volume. Every major VC fund invested in this round - I didn’t see such an impressive list for a long time.

There are over 4,000+ collections listed. Also, the marketplace has over 10,000,000 unique monthly visitors. The money will be used to make the marketplace more social - community-driven elements and a place to hang out.


Tweets and Threads of the Week

Twitter avatar for @chiNOTshy
Samurai Chi @chiNOTshy
Just sold a 2015 Audi to a 26 year old whose main concerns were paying 0 down and having something “better than a nissan.” Monthly $835 and she’s hype. APR 28% and she didn’t even ask 🥴
8:32 PM ∙ Mar 20, 2022
54,569Likes4,859Retweets

Twitter avatar for @Blockworks_
Blockworks @Blockworks_
VISA: We envision a future in which your crypto address becomes as important as your mailing address. - (Aug 2021)
4:43 PM ∙ Mar 15, 2022
4,876Likes794Retweets

Twitter avatar for @villi
Villi 🇺🇸🇺🇦 @villi
Gitlab announced their first full quarter as a public company yesterday. 🚀 - ARR $300M+ - 69% growth - 152% NRR - 89% Gross Margin
3:50 PM ∙ Mar 15, 2022
812Likes33Retweets

Twitter avatar for @edwardlando
Edward Lando @edwardlando
A paradox I've consistently observed: the busiest people are often the most responsive and available.
10:10 PM ∙ Mar 11, 2022
4,384Likes459Retweets

Twitter avatar for @thedefiedge
The DeFi Edge 🗡 @thedefiedge
Crypto Scammers stole $14 billion from people last year. Follow this checklist to protect you and your funds:
4:09 PM ∙ Mar 16, 2022
6,282Likes2,392Retweets
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