TLDR:
- Bolt proposes a crazy $200 million Series F raise
- Synapse’s founder moves on to a new startup after bankruptcy
In the latest episode of TechCrunch Fintech, the article dives into the recent developments in the fintech world. Bolt has proposed a mind-boggling deal to its shareholders, with a $200 million Series F raise and a $250 “marketing credits” deal on the table. Founder Ryan Breslow stands to benefit significantly if the deal goes through. Meanwhile, the founder of bankrupt banking-as-a-service startup Synapse, Sankaet Pathak, has already moved on to his new robotics startup called Foundation, raising $11 million in pre-seed money.
On the funding front, Brazil fintech Magie raised $4 million in a seed round, while Kenyan HR and payroll startup Workpay secured $5 million in Series A funding. Skyfire launched its payment network with $8.5 million in seed funding, and Y Combinator-backed Waza emerged from stealth with $8 million in seed money.
One of the high-interest headlines highlights Stripe’s significant cash reserves, with the company planning an employee tender offer allowing current employees to sell up to $50,000 of eligible shares. Stripe reportedly had $615 million in free cash flow in the last quarter. In addition to the funding news, PayPal is gearing up to develop a mobile wallet for EU users, taking advantage of the iPhone’s newly opened NFC capabilities.
Other key stories include PrizePool shutting down ahead of an acquisition, and new developments in the messaging platform WhatsApp being used for e-commerce in Latin American countries. Overall, the fintech landscape continues to see exciting developments and significant funding rounds across various sectors.
