Lucy Hoyle’s Post

Farrell Fritz, P.C.'s Alon Kapen writes: Starting January 1, 2024, virtually all private companies will be required to report information about their beneficial owners to the Treasury Department’s Financial Crimes Enforcement Network under the Corporate Transparency Act. But the CTA presents unique analytical and reporting challenges for startups and venture backed companies because of the special economic and governance rights negotiated with investors in early stage and venture funding rounds. #fincen #cta #startups #venturecapital #reportingrequirements

Aussie fintech InDebted raises a $41 million series C round Australian #fintech company #InDebted has secured $41 million (A$60 million) in a Series C funding round, strengthening its mission to transform the debt collection industry through ethical and customer-centric solutions. Founded in 2016 by Josh Foreman, InDebted utilizes AI and machine learning to personalize debt collection journeys, aiming to improve liquidation rates and provide valuable insights for clients like Klarna, Trustly, and Snap Finance. The funding round saw participation from both existing and new investors. Current shareholders Carthona Capital, Reinventure Capital, and Perennial were joined by new backers Airtree Ventures, Australian Retirement Trust, and Premier Capital Partners. Additionally, Sydney-based VC firm SecondQuarter Ventures acquired shares from angel investors and early employees. With this new capital infusion, InDebted plans to expand into new markets, including imminent launches in the UAE and Mexico. The company also intends to accelerate product development and execute its M&A strategy. The funding elevates InDebted's valuation to approximately $240 million (A$350 million). Craig Blair, co-founder and partner at AirTree Ventures, commented on InDebted's innovative approach: "By leveraging AI and machine learning to personalize collections journeys, InDebted is rewriting the narrative on debt collection. This approach aims to deliver ethical solutions that alleviate what has traditionally been a painful customer experience." The article on FinTech Futures in the first comment.

𝐀𝐮𝐬𝐭𝐫𝐚𝐥𝐢𝐚𝐧 𝐒𝐭𝐚𝐫𝐭𝐮𝐩 𝐈𝐧𝐝𝐞𝐛𝐭𝐞𝐝 𝐑𝐚𝐢𝐬𝐞𝐝 𝐍𝐞𝐰 𝐈𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭𝐬 𝐟𝐫𝐨𝐦 𝐌𝐮𝐥𝐭𝐢𝐩𝐥𝐞 𝐒𝐞𝐜𝐭𝐨𝐫𝐬 Indebted confirmed to the sources that approximately $10 million of this Series C round consisted of secondary sales to early investors and employees, facilitated by SecondQuarter Ventures. Read More: https://shorturl.at/mqA10 #AustralianStartups #InvestmentNews #Fintech #DebtCollection #TechInnovation #BusinessGrowth #StartupFunding

Loop Financial raises a $6.4 million CAD financing round #Loop Financial, a Canadian #fintech startup, has successfully raised an additional $6.4 million CAD in equity financing, bringing their total funding to over $10 million CAD. Founded by Cato Pastoll, Loop Financial is revolutionizing the way small to mid-sized businesses manage their global finances. By simplifying complex processes such as cross-border payments, currency exchange, and treasury management, Loop empowers companies to operate more efficiently and cost-effectively on an international scale. This latest funding round saw enthusiastic participation from esteemed investors including Mistral Venture Partners, Luge Capital, Graphite Ventures, Wedbush Ventures, and Conconi Growth Partners. Their support will enable Loop Financial to accelerate its growth and enhance its global-by-default financial services platform, meeting the evolving needs of businesses operating across multiple markets. Cato Pastoll, CEO and co-founder of Loop Financial, shared his excitement about the future: “Modern companies are built to operate globally, yet the process of setting up banking services to conduct business in a foreign market is an expensive and challenging barrier.” With over $150 million in funds under administration and a growing client base, Loop Financial is poised to continue its impressive trajectory, making international business finance seamless and accessible for companies worldwide. The article on FinTech Global in the first comment.

Gynger Secures $20M in Series A Funding Led by PayPal Ventures Learn more & get our take 👇 https://lnkd.in/g8zYTtUT "We are revolutionizing how companies buy and sell technology by providing a payments solution that addresses the needs of both vendors and their customers. We are thrilled to welcome PayPal Ventures as an investor to help push our growth to a whole new level." — Mark G., CEO and Founder at Gynger "Companies from seed stage startups to enterprise can unlock flexible payment terms on any technology expense, making it possible to purchase tools needed for growth while also preserving cash. We couldn't be more thrilled to be supporting them on their journey." — James Loftus, Managing Partner at PayPal Ventures "With software spend increasing more than any other spend category, Gynger is well positioned to provide valuable support to businesses nationwide. We are excited to partner with the company as they scale to meet the significant size of this market opportunity." — Jacob Haar, Managing Partner at Community Investment Management #funding #financing #SoFNews

Introducing Australian FinTech’s newest Member - MyBrix #australianfintech #fintech #fintechnews #finance #financialtechnology #innovation #fintechstartup #startups #PropertyOwners #PropertyInvestors #propertyfinance #property #realestate #invest #investing #investors

Summary: Carta, a Silicon Valley company known for managing cap tables and aiming to become a private stock market, is facing criticism after a customer accused them of misusing sensitive information for their own gain. Key takeaways: Carta is being accused of breaching customer trust by reaching out to investors without their consent or knowledge. This incident has caused other current customers to lose confidence in the company and consider switching to other platforms. Carta is defending itself by claiming that the incident was isolated and not a reflection of their business practices. Counter arguments: Some social media users speculate that Carta may have breached the law, but it is unclear how much legal protection their customers have in their contracts. Venture capitalist Matt Murphy, who sits on Carta's board, has stated that this breach of protocol was an isolated incident and that the company is trying to legitimize a messy market. #venturecapital #vc #startups #finance

San Francisco based fintech Uprise - Embedded Financial Advisory raises $3.3 million to help SMEs make smarter financial decisions #Uprise, a San Francisco-based #fintech startup, is launching its innovative financial advisory platform aimed at helping small businesses make smarter financial decisions. Co-founded by CEO Jessica Chen Riolfi, Head of Engineering Nanthakumar Muthusamy, and co-founder Chris Goodmacher, Uprise integrates directly into financial services that small businesses already use, such as HR tech company Rippling and SMB tax startup Carry. Uprise's platform uses an AI algorithm to analyze company-specific data and provide tailored financial recommendations, all of which are vetted by human financial advisors. This hybrid approach ensures that small businesses receive personalized advice that reflects both technological efficiency and human insight. Originally conceived as a direct-to-consumer product for personal financial decisions, Uprise pivoted to focus on small businesses after noticing that entrepreneurs and freelancers were their most engaged users. Recognizing that business finances and personal finances are often intertwined for small business owners, Uprise aims to provide a unified solution that addresses both needs. The company has just raised a $3.3 million seed round led by Blank Ventures, with participation from Graham & Walker, Hustle Fund, Dash Fund, and notable angel investors like Daniel Macklin, co-founder of SoFi, and Eddie Kim, co-founder of Gusto. This funding will support Uprise's full product launch and the expansion of its partnerships, with the vision of integrating into the suite of financial apps that small businesses rely on daily. The article on TechCrunch in the first comment.

The Innovate Finance event sheds light on the tough year for UK FinTech in 2023, attributed to market anomalies in the preceding years. The term "bloodbath" for startups indicates the challenges faced, emphasizing the need for execution excellence to secure funding. The prediction that some companies are yet to face reality in 2024 hints at potential disruptions, leading to layoffs and business closures. However, this is seen as a catalyst for a strong M&A market, especially as corporates recognise the pains of digital transformation. The positive note on increasing international interest underscores the UK's reputation as an innovation hub. The call for sector-specific recovery and the need for IPO activity in later-stage fintechs highlight the nuanced nature of the industry's path to recovery, with risk appetite returning for early-stage startups. What do you think? 🤔 #fintech #martech #insurtech #sales #startups #org3D

Are you ready for a deep dive into the future of UK Financial Services? We've compiled an insightful look at emerging startups that are revolutionising financial services in the UK with their innovative ideas and cutting-edge technology. See them here: https://lnkd.in/gkJpBJuX We're excited to feature companies such as: Carbonplace founded by unknown, working tirelessly to enable a secure, transparent transfer of certified carbon credits. Elwood Technologies, founded by Alan Howard, building an infrastructure for institutional-grade digital asset trading. Atlantic Money, co-founded by Neeraj Baid and Patrick Kavanagh, committed to providing cheap, fixed-rate international transactions. Treecard, started by a team including Gary Wu, james Cox, James Dugan and Jamie Cox. They've created a green finance platform that funds reforestation! Prograd, by Ethan Fraenkel and Marco Logiudice, focusing on enhancing lending experiences for younger consumers. Btomorrow Ventures, created by Alexandra (Lexy) Prosszer and Lisa Smith, striving to innovate and accelerate growth in the venture capital landscape. Lanistar by Gurhan Kiziloz, using polymorphic technology to offer customer-centric finance services. Lightyear, established by Martin Sokk and Mihkel Aamer, is facilitating global investment without high barriers and fees. Bloom Group S.A. SA, with James Hickson at its helm, providing founder-friendly capital and growth tools to digital brands. Superfluid Finance, founded by Francesco Renzi, Michele D'Aliessi, and ZhiCheng "Miao" Miao, on a mission to transform the movement of assets in decentralized finance. We are thrilled to watch the success and growth of these companies shaping the future of UK Financial Services - and we hope you are too! Dive in and learn more about these innovators. #Fintech #FutureFinance #UK #StartupInspiration #Innovation #TechRevolution