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This week, we glance at the history of selling Divva houses, a recent RAMPU product, some significant offers to boost funds and more!
Great story
FinTech real estate last week Divvy houses He announced that he was selling Brookfield Properties for “complete consideration” of about $ 1 billion. At the summit in 2021, the rent startup was priced at over $ 2 billion. On the surface, the result did not seem, taking into account the number of Proptech corporations that have completely closed (recently, Easyknock) in recent years.
However, delving deeper, we realized that the contract was not so pink for many shareholders. Because Divvy took so many debts, including Debt financing in the amount of $ 735 million In October 2021, most of these $ 1 billion allocated to pay this, in addition to the costs of financing transactions and “liquidation preferences for preferred shareholders”. CEO and co -founder of Aden Hefts in a letter to stakeholders viewed by TechCrunch that “ordinary shareholders or holders of the FF series of privileged series” will not receive any considerations. .
Undoubtedly, Divvy was hurt by rates of interest growing in 2022, but it also had other problems. There were many different complaints claiming that the company did not keep its property and/or was ETFICTING PEOPLE while charging rents with higher than the market. Was it a fire or not? I think it depends on who you ask. But even Hefts herself admitted that “she was not proud of the financial result.”
Dollars and cents
Despite recent turbulence in space, some proptechs still receive money. Founded by Better.com alum, Foyer – A platform that helps consumers save on payments, mainly acting as “401 (K) for the home owner” – announced a seed round of $ 6.2 million run by Alpac VC and Hometeam Ventures.
FINTECH Indian Jar He became a positive money flow, the director in the Tiger Global startup, confirmed on January 22. The 3-year startup, which offers savings and investment services for consumers, has achieved a milestone, and at the same time grows by greater than 10 times the last 12 months, in keeping with the investor’s note seen by Manish Singh of TechCrunch.
January 22 Ramp He announced a recent tax product that may give customers a strategy to earn money on operating money. I talked to the general director and co -founder Eric Gliman to get all the details. When I asked him if it was a exact statement that the ramp was entering the digital territory of the bank with a recent product, he admitted that it was a “honest” assessment.
After trading from cryptocurrencies to wage, Roll It is purchased by priority technological projects, a unit of publicly recorded payments and suppliers of priority technology for banking technology for an undisclosed amount.
PeakThe London startup, which runs the SaaS expenditure platform with AI power supply, collected $ 50 million at a valued valuation of $ 500 million. Ingrid Owen gives us a measure.
Visa joined the African fintech Moniepoint As a recent investor. Sources much like the contract informed TAsine Kene-Oko for the proven fact that fintech-which announced an investment in the amount of $ 110 million in October last year-he told over $ 10 million from Visa.
Austin MethodThe platform, which powers the debt and replacing the debt in FinTech applications for corporations resembling Sofi, collected a round of $ 41.5 million of series B under the leadership of Emergence Capital.
What else are we writing
Fintech Giant Stripe releases 300 people, in accordance with the leaking note reported on January 21 by Business InsiderBut I still plan to rent in 2025.
Indonesia Antimonopoly Agency in the KPPU final Google 202.5 billion rupiahs, similar to $ 12.6 million, on January 22 for the antitrust violation related to the services of the payment system for the Google Play store.
There is an interesting relationship between MistralFrench startup AI with a valuation value $ 6 billion and Alanmedical insurance unicorn. Romain Dillet gives us details.
According to many sources, more startups closed in 2024 than a 12 months earlier, and this is not a surprise, taking into account the crazy number of corporations that were financed in 2020 and 2021. It looks like we are not ready, and 2025 could also be one other brutal 12 months of startups closing. Read my deep diving, which incorporates data from Carta AND Angelist.
Headers with a high interest
HSBC closes the Zing payment application a 12 months after starting
Andreessen Horowitz closes the office in Great Britain, returns to the American cryptographic market