So much fintech M&A

News Summary

  • Lee (a very nice guy, incidentally) moved on years ago, recently founding another startup, and launching layoff tracker Layoffs.FYI soon after the COVID-19 pandemic hit.The deal was just one of many M&A deals in the fintech space that occurred last week.
  • Here’s what a spokesperson told me: “Utility Bidder [is] a price comparison site for energy and utility rates, so they have a focus on business finances as well as energy as a whole.”Identity decisioning platform and fintech unicorn Alloy recently released its annual State of Fraud Benchmark Report.
  • The report found that 70% of financial institutions surveyed lost over half a million to fraud last year and that 27% of respondents lost over $1 million to fraud in the last 12 months.
  • The startup later confirmed the development over an email.” More here.Digital mortgage platform Blend said last week its slashing its U.S. workforce by 28%, or 340 jobs, in its fourth layoff in less than a year.
  • For one, as one source told me, BlackRock’s investment is a show of faith in the SMB 401(k) market — one where the firm hasn’t historically played.
  • Via email, a spokesperson told me: “This new service equips retailers with a fixed rate model and the ability to accept all major contactless payment options including credit/debit cards and mobile wallets — all without hidden fees, long-term contracts or minimum monthly requirements.
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