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Sila banks $13M to offer single API for developing financial products, services

TechCrunch

CEO Karkal has a long history in the fintech space, co-founding Simple, an app unifying various accounts into one accessible bank card, in 2009. It was acquired by BBVA in 2014 for $117 million and shuttered earlier this year. Karkal told TechCrunch that the idea for Sila was born out of frustration while starting another bank.

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Headless CMS platform Kontent secures new capital to grow its customer base

TechCrunch

The incumbent solutions were designed for on-premise, monolithic architecture. “Based on our previous experience from the financial crisis in 2007–2009, an economic slowdown pushes companies to rethink their digital strategy which is often connected with rebuilding their website. region- or product-specific) content.

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Disrupting Finance From Above: Wealthfront

abovethecrowd.com

First, they believe that the current offerings from the financial incumbents are lacking. In July of 2009, the UK instituted a new network known as Faster Payment Service with same day settlement to replace their equivalent of ACH. Many blame Dodd-Frank and the consolidation post 2009 for the loss of free checking.

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Intellihot stokes a more efficient fire under your office boilers

TechCrunch

Founded in 2009, Intellihot has been on a mission to make commercial buildings more efficient, by improving the cost and physical footprint of keeping building H 2 O nice and toasty. ” Of course, the incumbents are also starting to produce tankless heaters, but Intellihot believes it has an edge in the approach it takes.

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Ed Zimmerman: The Growing Scarcity of Series B Venture Rounds

WSJ - The Accelerators

One of the best graphic depictions of the cone of venture funding was done by CB Insights, which tracked a cohort of the 160 American tech startups that closed on seed funding in 2009. Only 4% of the 160 startups from the class of 2009 completed a 6 th funding round by April 2014. The graphic follows those startups until April 2014.

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History of The MP3

Unvalidated Learnings

Not only did the incumbents fail to grasp the potential value, but it would have made no sense for them to go after such a small unprofitable niche, which would have been irrelevant to their top line, and eating away at their bottom line (CDs were 90%+ gross margin products back then). most of the value created would accrue to new entrants.

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Brex: The Future of Business Banking and Cash Management

Y Combinator

Even with $125K from YC and $1–2M in venture funding, a startup’s credit limit is still likely to tap out at $20K from an incumbent creditor—which is not nearly enough to cover software, marketing, and other expenses. Stripe’s launch in 2009 made it possible for startups to easily collect payments online via developer-friendly APIs.