40Seas’ Post

NY based fintech Fragment secures a $9 million seed round #Fragment, New York-based #fintech startup, has secured $9 million in a seed round, bolstered by high-profile investors such as Stripe, Jack Altman, and other fintech infrastructure executives. This new funding round, adding to the $1.8 million previously raised since its inception in 2021, underscores the confidence in Fragment's innovative approach to financial reconciliation. Founded by Thomas Neckel and Omi Reza Chowdhury, Fragment is the third venture by these co-founders, who previously created SCUID and Cove.io. Fragment aims to simplify the complex and often tedious task of bank account reconciliation for businesses with high transaction volumes. Their digital ledger API offers real-time, double-entry accounting, making it significantly faster and more efficient than traditional methods. Fragment's technology allows fintech developers to build financial products using their API to compose and simulate funds flows. Companies like TruckSmarter, Nala, and Pleo are already leveraging Fragment's capabilities to enhance their financial operations, demonstrating the platform's versatility and effectiveness. This funding will enable Fragment to expand its engineering team and enhance its market presence, positioning it as a formidable competitor to existing solutions like Modern Treasury. The support from renowned investors and industry leaders highlights the potential of Fragment's technology to revolutionize how businesses manage financial reconciliation and build financial infrastructure. The article on TechCrunch in the first comment. Want to stay up to date with the market? Here my newsletter: - Linkedin: https://lnkd.in/d4h8zqKA  - Substack: https://lnkd.in/dzfGJzmW

Do you know what happened last week? That’s correct, it was Digital Assets Week in CA. I liked how institutional talks are becoming the norm, and we are even questioning if it’s still a startup game anymore, LOL! Two talks, in particular, stood out for their depth: Maredith Hannon and Anthony B.: They discussed the use cases for realizing the benefits of digitized assets through P2P. It is heartwarming to see big institutions taking visionary positions rather than passive ones. They discussed real-world applications where digitized assets are enhancing efficiency, reducing costs, and providing greater accessibility, showcasing how P2P models are democratizing access to assets. Laura Pruitt and Alexander Wilson: They spoke about FinTech regulatory trends and outlook. The most interesting aspect of this talk was the fact that Alex was the lead prosecutor of Elizabeth Holmes. They highlighted the importance for founders to be as transparent as possible when it comes to their operations and financials, given that founders often try to associate their personal characters with their startups. IYKYK.

Fintech Shakeup: When Digital Accounting Platforms Crumble 💻 Breaking news in the tech world - Bench Accounting just closed its doors, leaving 12,000 small businesses scrambling. This sudden shutdown reveals the fragile nature of fintech startups and underscores the critical need for resilient financial technologies. As someone deeply invested in startup ecosystems, this isn't just about one platform failing - it's a wake-up call for entrepreneurs to diversify their digital tools and have robust backup strategies. The ripple effects are significant, highlighting how quickly tech landscapes can transform. Want to stay ahead of the curve? Assess your financial tech stack and always have a Plan B! Learn more insights: https://lnkd.in/gXPQFMkf #FinTech #SmallBusinessTech #StartupResilience

Fintech Innovation Hubs: Global Comparison https://shorturl.at/w1FSc 🌍💸 Dive into the world of FinTech innovation hubs! From Silicon Valley to London, discover how these ecosystems fuel FinTech startups and drive financial services forward. Each hub boasts unique strengths, from cutting-edge technology to diverse talent. Let’s explore how these global hotspots are reshaping the FinTech industry and fostering innovation for a more inclusive financial future! 🚀✨ #FinTechinnovationhubs #FinTechhub #FinTechstartups #Globalhubs #FinTechindustry #IW #IWNews #IndustryWired

🌟 October 2024 Fintech Funding Roundup! 🌟 This month, fintech companies worldwide attracted significant investment to drive innovation and fuel their growth. Here are the top five funding stories from October: 1️⃣ Zepz – Raised a massive $267M Series F led by Accel, with support from Leapfrog, TCV, and the IFC of the World Bank Group. Zepz, the parent company of Sendwave and WorldRemit, plans to expand into new markets and launch the Zepz Wallet. This investment strengthens Zepz’s mission of improving cross-border payments. 2️⃣ Interface.ai – Emerged as a powerhouse in AI for banking, securing $30M in its first funding round led by Avataar Venture Partners. Interface.ai offers agentic AI solutions tailored for community banks and credit unions, using these funds to grow their team and enhance proprietary AI capabilities. 3️⃣ Finix – Secured $75M Series C funding co-led by Acrew Capital, Leap Global, and Lightspeed Venture Partners. With new funding, Finix will expand its no-code payment solutions, broaden its international reach, and continue product development. 4️⃣ Farther – This wealth management firm closed a $72M Series C round, quadrupling its valuation to $542M. With CapitalG and Viewpoint Ventures as lead investors, Farther has also surpassed $5B AUM, serving over 5,000 clients with 100+ wealth managers. 5️⃣ Zip – Raised $190M Series D at a $2.2B valuation led by Bond, with support from DST Global, Adams Street, and Alkeon. Zip will use the funds to expand its AI-driven procurement solutions and establish a new Zip AI Lab, with plans to grow in EMEA. It’s inspiring to see these companies pushing boundaries and paving the way for financial innovation. https://lnkd.in/deeGiUug #Fintech #Funding #Innovation #Growth #Finance

5 Fintech Startups That Were Featured on Business Insider - Finextra: Here, we explore five fintech startups that have caught the attention of the premier publication, showcasing their groundbreaking technologies and ...

The Role of Startups in Revolutionizing FinTech and Global Transactions - TechDay: Startups have always been at the forefront of innovation, but in recent years, their impact on the financial technology (FinTech) sector has been ... #finpeform #fintech

Fintech startup OneChronos secures a $32 million funding round led by Addition #OneChronos, a #fintech startup transforming capital market trading, has raised $32 million in expansion capital led by #Addition. Founded in 2022 by Kelly Littlepage, the company is redefining institutional trading through its advanced matching technology and unique approach to market design. Its flagship platform, OneChronos ATS, is now the fastest-growing off-exchange U.S. equities trading venue, managing over $4.5 billion in daily trading volume this November. The funding aims to strengthen OneChronos’ leadership in core segments while driving expansion into new asset classes, geographies, and even markets beyond traditional capital #finance. Leveraging cutting-edge combinatorial auctions and optimization algorithms, the company enhances trade execution quality and tackles longstanding inefficiencies in #capital markets. Littlepage expressed confidence in the transformative potential of Smart Markets, emphasizing the team’s ambition to extend their innovations across industries, growing the global economy through better trade mechanisms. Andrew Miskiewicz of Addition highlighted the firm’s rapid success and its ability to unlock significant value in untapped markets. Since its launch, OneChronos has facilitated over $500 billion in institutional securities transactions, seamlessly integrating with existing market structures. Positioned at the intersection of technology and finance, OneChronos is leading the charge in creating smarter, more efficient capital markets worldwide. The article on FinTech Global in the first comment.

🚨 Tech Tsunami: Bench Accounting's Sudden Collapse Shakes Fintech World 💻 Just broke: AI-powered accounting platform Bench has shut down, leaving 12,000 small businesses in financial limbo. This isn't just a startup failure—it's a critical warning signal for the entire fintech ecosystem. Funding has dropped 37% year-over-year, revealing how fragile tech platforms can be when venture capital gets tight. Small businesses are now scrambling to rebuild financial records and find stable alternatives. The takeaway? Not all shiny tech solutions are built to last. Entrepreneurs must prioritize platform reliability and financial resilience. Want to stay ahead of these industry shifts? We're tracking the latest fintech trends and insights! Check out our deep dive at https://lnkd.in/gQFXCcRX #FinTech #StartupChallenges #AIAccounting

If you are thinking about outsourcing in FinTech, focus on areas that aren’t the core of your business but are still crucial for success. 👉 Check the latest article from our CEO and figure out which part of development it is better to outsource!