PayPal Ventures Makes First AI Investment

PayPal Ventures has made its inaugural investment in the field of artificial intelligence (AI) by participating in a $30 million Series C funding round for Rasa, an enterprise-focused conversational AI platform serving financial services companies

New Dating App ‘Score’ Requires Good Credit

Just in time for Valentine’s Day, Neon Money Club has launched a new dating app called Score, which targets individuals with good to excellent credit scores of at least 675. The app aims to raise awareness about the significance of financial compatibility in relationships and underscores the growing intersection of finance and technology in various sectors.

Robinhood Posts Surprise Profit, Shares Surge

Robinhood experienced a significant boost in its stock value following a surprise profit announcement for the fourth quarter. The company’s shares surged to their highest price in nearly two years, closing at $14 on Friday, up 17% from the previous week. This positive performance signals potential optimism for both public and private fintech companies.

Fintech Funding Highlights

• Finom, a European challenger bank targeting SMEs and freelancers, secures €50 million ($54 million) in Series B funding.
• FlowFi, a startup facilitating access to finance experts for entrepreneurs, closes a $9 million seed funding round led by Blumberg Capital.
• Bold, a Colombian fintech company focused on electronic payments infrastructure, raises $50 million in Series C funding led by General Atlantic.
• Rasa, an enterprise AI platform serving financial services firms, raises $30 million in Series C funding co-led by StepStone Capital and PayPal Ventures, marking PayPal Ventures’ first AI investment.

Other Notable Developments

• Bolt undergoes a significant valuation correction, slashing its share price by 97% in a buyback move.
• Despite challenges, venture capital remains optimistic about the rebound of fintech deals in 2024.
• Parlay secures $1.3 million to provide inclusive access to financial resources for small businesses.
• Mia Share raises $6.5 million to facilitate digital tuition payments.
• Sequoia pressures former leader Michael Moritz to step down from Klarna’s board.
• Airbase appoints Forrester veteran Mathew Schulz to a key procurement role.
• Fintech captures over one-third of the €745 million invested in European tech last week.