The fintech layoffs just keep on coming

News Summary

  • The market is enormous — JPMorgan estimates that more than 100 million Americans pay a combined $500 billion annually in rent to 12 million property owners — but convincing landlords to move from checks and money orders won’t be an easy feat.
  • Jeeves Pay is available now to all Jeeves customers “where permitted by applicable local laws and regulations,” the company says.Brex sees startups as one of the key avenues to growth in the corporate card and spend management market.
  • At a high level, Jeeves Pay lets customers use their existing credit line to send wires or pay vendors, ostensibly solving the problem of having to rely on cash or revenues to fund local and cross-border business and vendor payments.
  • For the duration of the accelerator, Techstars participants will get a Brex platform support team, access to exclusive Brex events and free use of Brex’s Pry financial forecasting platform.
  • The bank this week launched a pilot platform for property owners and managers that automates the invoicing and receipt of online rent payments.
  • Every week, I’ll take a look at the hottest fintech news of the previous week.
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