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My First 16: Competing in a Crowd of Incumbents with Mercury’s Immad Akhund

Andreessen Horowitz

In this episode, a16z partner Seema Amble talks with co-founder and CEO of Mercury Immad Akhund about the idea of a minimum delightful product in fintech, doing the spreadsheet math on unit economics early on, and how to compete in a category already filled with incumbents. So there’s a bunch of factors.

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After raising $10M, Breeze breathes fresh air into a stagnant disability insurance market

TechCrunch

Enter Omaha, Nebraska-based Breeze , the company Nabity started in 2019 with Cody Leach to enable individuals to go online and complete in 10 minutes the application process to receive a personalized quote for either disability insurance or critical illness insurance.

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To reach fintech’s next level, infrastructure providers must address these pain points

TechCrunch

Innovation continues to drive new developments in lending, payments, crypto and, in particular, infrastructure, showing that the industry still has lots of room for growth. And even though investment activity decreased this year, it still remains well above where it was in 2019 and 2020. But fintech is resilient.

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AI chip startup Sima.ai bags another $30M ahead of growth

TechCrunch

As the demand for AI-powered apps grows, startups developing dedicated chips to accelerate AI workloads on-premises are reaping the benefits. Another company competing in the increasingly saturated segment is Sima.ai , which is developing a system-on-chip platform for AI applications — particularly computer vision applications.

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Sweden-based digital bank Northmill raises $30M

TechCrunch

The injection of cash will be used for continued geographical expansion and to accelerate the development of new products. Founded nearly 15 years ago and originally operating as a credit provider, in 2019 Northmill secured a full banking license, regulated by the Swedish Financial Supervisory Authority. Next stop, Norway.

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Hungryroot co-founder’s new venture, Noops, a plant-based pudding startup, raises another $2M

TechCrunch

The Long Island-based company was founded in 2019 by Hungryroot co-founder Gregory Harry Struck after he adopted a plant-based diet while battling cancer. “It In fact, of the $348 billion in annual sales generated by the top 25 food and beverage incumbents in the U.S.,

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Tractable raises $60M at a $1B valuation to make damage appraisals using AI

TechCrunch

And while a new generation of “insurtech” startups have emerged in recent years that are bringing more modern processes into the equation, typically the incumbent major insurance companies — the ones that Tractable targets — have lacked the technology to improve that process.