So much fintech M&A

News Summary

  • Lee (a very nice guy, incidentally) moved on years ago, recently founding another startup, Comprehensive.io 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.
Welcome toThe Interchange! If you received this in your inbox, thank you for signing up and your vote of confidence. If youre reading this as a post on our site, sign uphereso you can receive it d [+16100 chars]