FinTech Futures: Top five stories of the week – 21 October 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Brex
US fintechs Brex and MX announce layoffs
Brex is set to lay off 136 employees – approximately 11% of its total workforce.
Brex to stop serving “traditional” small businesses
Small businesses using Brex have until August 15 to move their funds.
Brex acquires bookkeeping software firm Pry Financials for $90m
Pry CEO Andy Su says: “With Brex’s scale and reach, we can have a much bigger impact right away.”
Brex hires Meta product head Karandeep Anand as CPO, lands $300m funding
Since its founding in 2017, Brex has raised a total of $1.2 billion.
Fintech funding deals globally 18 October – 24 October 2021
Featuring N26, Deel, FTX, Zopa and Brex.
Brex acquires Israeli start-up Weav in $50m deal
US fintech will aim to leverage Weav’s API technology.
Fintech funding deals globally 26 April – 2 May 2021
Featuring Brex, Paxos, Vena, Greenlight, and Current.
Brex closes $424m Tiger Global-led round at $7.4bn valuation
“We have all types of businesses now signing up for Brex,” says co-CEO.
Brex raising at $8bn valuation following banking licence application
Tiger Global Management is reportedly backing the round.
