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Proving that banking as a service is hotter than ever, Treasury Prime raises $40M Series C

TechCrunch

Treasury Prime co-founder and CEO Chris Dean believes that the best outcomes for consumers will result from traditional banks and fintechs working together. On the fintech side, the company claims to help startups with a range of services, including money transfer, risk mitigation and access to a chartered bank’s infrastructure.

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Treasury Prime raises $20M to scale its banking-as-a-service biz

TechCrunch

This morning Treasury Prime , a banking-as-a-service startup that delivers its product via APIs, announced that it has closed a $20 million Series B. For Treasury Prime, the new capital was an internal affair, with prior investors stepping up to lead its new round of funding. years since it raised its preceding round.

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Fintech is a mess. Is BaaS the outlier?

TechCrunch

On the other hand, large companies are eagerly adopting the concept to get competitive advantages and to drive value for customers. Companies continue to attract venture capital, too. This year, Treasury Prime secured $40 million in Series C funding and Synctera raised $15 million to launch embedded products in Canada.

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SVB contagion: UK arm shuts down, government scrambles and startups brace for the worst

TechCrunch

As of today, TechCrunch understands an influential group of UK entrepreneurs and investors, aided by industry body Coadec , is now making hasty representations this weekend to HM Treasury over the implications of SVB UK’s shut down. Only hours after Platt’s call, the BoE moved in to shut down the bank’s operations. How many did you speak to?

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Thrive Capital believed to be leading new multi-billion dollar investment in Stripe

TechCrunch

Thrive Capital has reportedly committed $1 billion in fresh capital to payments giant Stripe as part of a new investment in the works that would value the fintech company at between $55 billion and $60 billion. And the company has slashed its internal valuation more than once over the past year.

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Andreessen Horowitz backs ModernFi’s deposit marketplace for banks

TechCrunch

In the same vein as companies like Flourish Fi , Treasury Prime , Savana and Amount offering software for banks, ModernFi is providing a marketplace for banks to exchange deposits on demand. The company does have some revenue at this point, but Bertolotti declined to go into specifics. million in seed funding.

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TechCrunch+ roundup: SaaS burn multiples, 8 fintech VCs spill the tea, all my apes gone

TechCrunch

Treasury Secretary Janet Yellen says we’re not yet in a recession. At the same time, it’s taking a lot longer to secure startup funding than it did just a few months ago, which means many companies are burning cash faster than they can raise it. How to grow a SaaS company efficiently in a recession. Walter Thompson.

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