Were only beginning to see the impact of Silicon Valley Banks implosion

News Summary

  • The new feature brings the 16-year-old company closer to becoming an end-to-end personal finance management platform, also offering debt, credit building and checking and savings products, Credit Karma founder and CEO Kenneth Lin said in an interview.
  • The fintech is backed by Lightrock, Novastar and QED, the global fintech investor whose managing partner Nigel Morris co-founded Capital One.Payments giant Stripe appears to still be trying (hard) to raise venture funding.
  • Eric Newcomer reported last week that the company is now raising 6 BILLION DOLLARS instead of the $2 billion to $3 billion it was believed to be trying to secure, according to previous reports.
  • The company’s latest Emerging Tech Research found specifically that global VC investment in the broader fintech space reached $57.6 billion across 2,747 deals in 2022, declines of 40.7% and 18.1% year-over-year, respectively.
  • Oh, and for one fintech observer’s opinions on why the company, despite its challenges, “can’t lose,” head here.Construction tech startup Kojo is expanding into fintech.
  • Says KPMG via e-mail: “We’re also seeing a continued focus on BNPL, AI offerings/tools, and M&A activity remaining slow through the first half of 2023.”Meanwhile, according to PitchBook, enterprise fintech startups are capturing more of the broader fintech VC pool.
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