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

TechCrunch

He saw a need for financial application development, but was hindered by a banking system “still stuck in the 20th century.” Its banking APIs enable developers to create their own digital wallets, replacing the need to integrate with legacy financial institutions. The company raised a $7.7 million seed round earlier in the year.

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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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Booz Allen Hamilton launches $100M corporate venture arm focused on early-stage startups

TechCrunch

Excepting breakouts like Anduril and Palantir , most contracts are awarded to incumbents — more than 95% of Booz Allen’s nearly $8 billion in revenue comes from government contracting — and any startup that gets a foot in the door has to bridge the gap between the R&D phase and the contract award.

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Virtual social network IMVU raises $35M from China’s NetEase and others

TechCrunch

The line between social networking and gaming is increasingly blurring , and internet incumbents are taking notice. The fresh investment will be used to fund IMVU’s product development and comes fresh off a restructuring at the company. The company declined to disclose its post-money valuation.

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New capital positions luxury goods reseller Rebag for next round of innovation

TechCrunch

Rebag , which buys, sells and trades luxury items like handbags and accessories, raised a $33 million Series E round following a year of technology development and category expansion. The “last time” was a $15 million Series D round in 2020, also led by Novator. The marketplace now has more than 30,000 items.

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

TechCrunch

billion in 2020, according to a Bloomberg Intelligence report , and is poised to grow to $74 billion by 2027. And, while the food type has reached a number of categories, like meat and seafood, there is not much in the space of pudding, nor have incumbents come out with better-for-you options, Hippeau said.

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5 tips for healthcare startups fundraising in a down market

TechCrunch

Galym Imanbayev joined Lightspeed in 2020 as a partner focused on the healthcare sector. The competition is not your market competitor or incumbent. In fundraising, a founder’s greatest challenge is not selling any particular product or strategy. Instead, it is often unwinding and realigning the investor’s biases.