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Varo’s bank charter milestone, more corporate cards and BNPL under a microscope

TechCrunch

If you received this in your inbox, thank you for signing up and your vote of confidence. For the unacquainted, according to Investopedia : “A chartered bank is a financial institution (FI) whose primary roles are to accept and safeguard monetary deposits from individuals and organizations, as well as to lend money out.

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So much fintech M&A

TechCrunch

If you received this in your inbox, thank you for signing up and your vote of confidence. Last valued at $12 billion, Deel is one of the buzziest fintechs around, and its decision to pick up Capbase reflects its intent to enter the equity management space. Welcome to The Interchange !

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Swile raises $200 million for its employee benefits card and app

TechCrunch

Swile provides a payment card for employee benefits, such as meal vouchers, gift cards and sustainable mobility vouchers. Swile started as a payment card to hold your meal vouchers. Employees often ask whether a restaurant accepts meal vouchers. Swile raised a Series A round of $17.4

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Bilt Rewards banks $60M growth on a $350M valuation to advance credit card benefits for renters

TechCrunch

“We are also the only co-branded card to offer points on rent.”. A rewards program for your rent payments? Greg Bates, GID president and CEO, said his company has 130 assets spread across the top 20 markets and manages 40,000 apartment units. Jain estimates Bilt is seeing 20% enrollment across residents.

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A tale of two surveys: Fintech VCs change tune on investment landscape

TechCrunch

If you received this in your inbox, thank you for signing up and your vote of confidence. And SoftBank Investment Advisers’ managing partner Munish Varma, in response to the same question, said: “The heightened level of funding has increased competition, especially for high-quality companies.”. Welcome to The Interchange!

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Spend management space sees a large raise, and layoffs, in the same week

TechCrunch

If you received this in your inbox, thank you for signing up and your vote of confidence. About a year ago, it seemed like myself and other colleagues were writing story after story about spend management companies raising tranches of venture capital — remember Mary Ann’s roundup story from basically this same time last year?

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Fintech startups lead the layoff wave

TechCrunch

If you received this in your inbox, thank you for signing up and your vote of confidence. If you lost your job, hang in there. It also lays claim to pioneering charge cards, electronic payments and ATMs. London-based Revolut said it is working with Stripe (which started in Ireland) to support payments in the U.K.

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