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FintechOS nabs $60M for a low-code approach to modernizing legacy banking and insurance services

TechCrunch

“Challenger” startups in banking and insurance have upended their industries, and picked up significant business, by building more customer-friendly tools and services — more personalized, easier to access and usually competitively priced — than those typically provided by their bigger, incumbent rivals.

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Canada’s Neo Financial closes on $145M Series C, surpasses 1 million customers

TechCrunch

million (CAN $299 million) since its 2019 inception, and values the company at over $784.8 At the same time, the incumbent banks are stuck with their mainframes, IBM contracts, and software written in COBOL,” he wrote via email.” Canadian digital bank Neo Financial has raised $145.2

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ManageXR grabs $4 million seed round to scale XR business 

TechCrunch

With the latest funding, ManageXR will support its expanding team and go-to-market strategy as the company has experienced rapid growth since becoming available to beta users in November 2019 and officially launching in April 2021. Los Angeles-based Talespin nabs $15 million for its extended reality-based workforce training tools.

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TomoCredit raises $7M to help the cash rich and credit poor

TechCrunch

So she teamed up with Dmitry Kashlev, a Russian immigrant, in January of 2019 to create a solution for other foreign-born individuals and young adults facing similar credit challenges. Kim, who immigrated to the U.S. That fall, the startup (short for Tomorrow’s Credit) was accepted into the Barclays Accelerator, powered by Techstars.

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

TechCrunch

After emerging from stealth in 2019, Sima.ai 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. ”) But the startup stands to profit handsomely if it can capture even a sliver of the sector.

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Why TransUnion led blockchain fintech Spring Labs’ $30M Series B

TechCrunch

It’s raising a $30 million Series B, led by TransUnion — one of the largest incumbents in an industry that Spring Labs is looking to shake up. Spring Labs founder and CEO Adam Jiwan told TechCrunch that the two companies’ recent partnership evolved out of a series of discussions that began a couple of years ago.

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Opportunity Amid Volatility

Haystack

Maybe it will be 2019, or 2020 — or even 2021. They’ll have to back up the truck for their best companies, take acquisitions off the table, and go right after the incumbents head-on. Speaking of acquisitions — many leaders of larger VC funds have privately given up on the incumbents buying their companies.