Mercury, which helps startups manage their finances, raised $300M led by Sequoia at a $3.5B valuation; the fintech saw $2B in deposits after SVB's collapse
Fintech banking startup Mercury says it has more than doubled its valuation to $3.5 billion after raising $300 million in its latest funding round.
A look at the US venture debt landscape a year after SVB collapsed, as none of the new options have become as appealing as the “one-stop shop” SVB offered
Who sponsors equivalent trips in Europe? …
A look at the US venture debt landscape a year after SVB collapsed, as none of the new options have become as appealing as the “one-stop shop” SVB offered
Financial Times :
Internal Brex data: Q3 annualized net revenue hit $283M, up 1% QoQ, and the company is far from profitable, as the growth spurt after SVB's collapse trails away
Mark Matousek / The Information : Bluesky: @caseynewton.bsky.social . X: @coryweinberg Bluesky: Casey Newton / @caseynewton.bsky.social : I wonder if looking back Brex would still decide to stop serv...
A mistakenly released FDIC doc lists SVB customers before its collapse: Sequoia with $1B, Beijing-based Kanzhun with $902.9M, Altos Labs with $680.3M, and more
When federal regulators stepped in to backstop all of Silicon Valley Bank's deposits, they saved thousands of small tech startups …
HSBC rebrands SVB UK as HSBC Innovation Banking, adding US, Israel, and Hong Kong teams to offer banking services to startups, investors, and other tech clients
Ingrid Lunden / TechCrunch :
Despite the UK's chancellor lauding its “world-beating fintech sector”, London has been waning as a fintech hub, as startups call for reforms amid SVB UK's bust
Siddharth Venkataramakrishnan / Financial Times :
Sources: SVB bought long-term assets that paid more interest based on a misplaced profit-driven strategy, falling out of compliance with its internal risk model
and over the concerns of some staffers — SVB executives simply changed the model's assumptions, according to the former employees and securities filings.” https://www.washingtonpost.com/ ... Matt O'Br...
After SVB froze its deposits, HR software startup Rippling raised a $500M Series E at an $11.25B valuation, same as Series D, taking its total funding to $1.2B
As a serial entrepreneur who has famously endured some ups and downs, Parker Conrad has nearly seen it all. Or so he might have thought until last week.
After SVB froze its deposits, HR software startup Rippling raised a $500M Series E at an $11.25B valuation, same as Series D, taking its total funding to $1.2B
As a serial entrepreneur who has famously endured some ups and downs, Parker Conrad has nearly seen it all. Or so he might have thought until last week.