Welcome to TechCrunch Fintech!
This week, I'm looking at the story behind Divvy Homes, Ramp's new products, some remarkable financing transactions!
To get the largest and most important FinTech story summary of TechCrunch, which is distributed to the inbox every Tuesday, please subscribe.
Big story
Image Credit: Divvy Homes / CEO and co -founder Adena Hefets
Last week, Real estate Fintech Divvy Homes announced that it is sold to Brookfield Properties for about $ 1 billion. During the peak of 2021, startups from rent were evaluated as more than $ 2 billion. On the surface, the results did not look terrible, given the number of Proptech companies, which have been completely closed in recent years.
But deeply, we realized that this transaction was not so raging for many shareholders. Most of $ 1 billion of $ 1 billion paid for funding transaction costs and “liquidation to priority shareholders”, as Divvy has taken so many debt, including $ 735 million debt loans in October 2021. It was spent. CEO and co -founder Adena Hefets stated in a letter to the stakeholders that TechnaCrunch did not take into account the “Series FF preferred shared shared holders or holders”. it hurts.
There was no doubt that Divvy was damaged by the rise in interest rates in 2022, but there were other problems. There were various complaints that the company did not maintain its property, and that it was claiming a higher rate than/market. Was it a fire sale? I think it depends on the person you ask. However, she acknowledged that she was “I am not proud of the financial results.”
Dollar and cent
Image credit: JAR
Despite the recent turbulent space, some Proptech is still acquired cash. Foyer established by Better.com's alum -is a platform that helps consumers to save down payments, and is essentially functioning as “401 (K) for housing ownership”.
The Indian Fintech Jar became a cash flow positive, an executive startup for Tiger Global support on January 22. The 3 -year -old startup, which provides consumers with savings and investment services, is still growing while achieving milestones. According to an investor's memo seen by TechCrunch's manish singh, 10 times last year.
On January 22, RAMP announced a new financial product that provides customers to earn more income from operating cash. I talked to the CEO and co -founder Eric Griman and got all the details. When he asked him to say that his lamp was invading the territory of the Digital Bank along with his new product, he acknowledged that it was a “fair” evaluation.
After pivoting from Crypto to PayRoll, Rollfi is acquired by Priority Tech Ventures, a unit that has not been disclosed and a priority -and -owned banking technology provider.
Vertice, a London -based startup that operates the SaaS expenditure platform equipped with AI, has raised $ 50 million with the reported $ 500 million rating. Ingrid Owen gives us scoops.
VISA has joined the African FinTech Monie Point as a new investor. According to a sources close to transactions, Tage Kene-Okafor told Fintech, which announced $ 110 million in October last year, received more than $ 100 million from VISA.
Austin -based method, a platform that enhances debt and debt repayment functions in Fintech applications for companies such as SOFI, has raised a 41.5 million dollar series B -round led by Emergence Capital.
What else are you writing?
Image Credit: David Paul Morris /Bloomberg /Getty Image
According to a leaked memo reported by Business Insider on January 21, FinTech's huge stripes have 300 people, but they are still hiring in 2025.
The Indonesian anti -Trust organization, KPPU, has finished a 22.5 billion Rupiah of the 22.6 million Rupiah, equivalent to $ 12.6 million on January 22, in order to violate the antitrust law associated with the Google Play store payment system service.
Mistral and France's AI startups are interesting connections with $ 6 billion, and there is an interesting connection between Alan, a health insurance unicorn. Romain Dillet will tell you more.
According to multiple information sources, given that more startups were closed in 2024 than 2024, and the number of companies provided in 2020 and 2021 is actually a large number. Is not surprising. The brutal year of the startup will shut down. Read My Deep Dive, which contains data from Carta and Angellist.
High profits heading
Deal, a salary calculation platform, refuses to enable money laundering and blame the competitor in the lawsuit.
HSBC will close the payment app one year after its release.
Andreessen Horowitz closes the British office and returns to Pivot to Crypto Market in the United States
The clutch secures the 65 million dollar series B funds to promote credit unions in the FinTech era.
Thank you for reading! Until next week … Please follow me with x @Bayareawriter Posting about coffee to break FinTech News.