Fintech, DAOs and Asia’s retailer revival: Key rounds – Global Village Space
TechCrunch+ has launched a series of posts looking at the latest venture rounds, exit activity and other news related to the financial side of building new tech companies. Despite the slowdown in venture capital activity, there is still a lot of money flowing through startups. Tech start-ups are busy raising capital and looking for exits. This article highlights some of the week’s notable rounds and other startup and venture capital news.
Etoro reloads at $3.5 billion valuation
Consumer trading service eToro recently raised a nine-figure round after the SPAC deal failed to complete. The round is significant for the size and industry, as fintech has taken a valuation in recent quarters. Despite some growth since 2020 in 2022, the company shrank compared to the 2021 period last year.
Seed Club Ventures sneaks out of stealth with $25 million to make DAO dreams come true
Seed Club Ventures recently came out of stealth with a $25 million fund to help decentralized autonomous organizations (DAOs) build much-needed tools. Such tools will actually help take DAOs to a level where they can realize some, if not all, of the potential that fully decentralized systems provide.
IntegrityNext Raises $109M to Help Companies Ensure Their Supply Chains Are ESG Compliant
Munich-based IntegrityNext helps companies audit their supply chains so that they can quickly determine where and how to optimize the supply chain and comply with environmental, social and governance (ESG) requirements. This collection is really good news for European companies, as they will have an easier time adopting previously “nice-to-have” ESG policies that will soon become “must-haves” as regulations in the EU tighten.
Kream is racing to a $742 million valuation because fashion geeks like the circular economy
Kream has seen incredible success as fashion-savvy customers flood their store, looking for exclusive, rare sneakers, watches, bags, accessories and clothing. Kream’s $168 million fundraising is interesting because the company is going to invest heavily in its peers to build a dealer network that spans a large area of Asia.
Kredivo Raises Giant $270M Series D to Make Credit More Accessible to Underbanked Asians
Kredivo aims to increase access to credit in Indonesia and Vietnam and has certainly struck gold with a user base roughly the size of Indonesia’s credit card stock. The company’s oversubscribed $270 million Series D is proof that there is growth to be had in making people’s lives easier and helping them access banking services easily and seamlessly.
Other startup and venture capital news
The downturn in business is slowing down even the fastest startup categories
Even previously hot API startups are suffering from the drop in investment. Startups in this category raised around $2.15 billion in 2022, less than half of what they raised a year earlier. The number of agreements has also decreased. In the fourth quarter of 2022, such startups raised a paltry $134 million, which is lower than in the previous three quarters of the year.
Coinbase executives are angry that the SEC is counting on their parade
The crypto world is not happy with how lawmakers are treating it. Coinbase’s CEO recently said the government should just make up its mind about regulations already after the SEC sent it a Wells notice.
Roofstock cuts 27% of employees in second round of layoffs
Rising mortgage rates and the general housing slump haven’t been good for companies that depended on people realizing their American dream. Roofstock, which lets people buy and sell rental properties in dozens of U.S. markets, decided to lay off 27% of its employees for the second time in less than two quarters.
4 Indian investors explain how their investment strategy has changed since 2021
Indian startups started 2022 with pretty good prospects as the global slowdown in business had not reached the country yet. But it did, leading to a 70% drop in funding in the second half of the year.
As the tech IPO market reopens, keep an eye out for HR unicorns
HR tech companies are likely to be among the first out of the gate when the tech IPO market reopens. Unicorns like Deel, Velocity Global, Gusto and Ripple continue to grow into new markets and categories.
