202210 Jul

Fintech startups lead the layoff wave – TechCrunch

Summary

In what many viewed as a head-scratching turn of events, one-click checkout Bolt ended up settling with a retail giant ABG Group and making it a shareholder. I did not speak to Better CEO Vishal Garg but he did provide a canned statement conveying his excitement about all the new folks who come on board after a flurry of senior exec departures and amid a tumultuous environment. The fintech company was started by the same founders as Hugo a super app that recently sold to Delivery Hero for $150 million Alejandro Argumedo, Ricardo Cuellar and Juan Maceda.Alejandro McCormack tells TechCrunch he was invited to join the trio as a co-founder and is serving as COO/interim CEO due to his previous experience at N26 and Raisin. With almost $1 million monthly transaction volume across five countries (El Salvador, Guatemala, Honduras, Nicaragua and Dominican Republic), McCormack shared via email that n1co will be using the fresh capital to accelerate growth (currently 30% MoM), develop its POS devices and push its soon-to-be-launched current account and Visa debit card.With the rollout of the n1co card, the company believes it will be positioned as the first neobank focused on Central America and the Dominican Republic a region with roughly 55 million people. Notably, founders and execs from Airbase, Brex and Ramp also put money in the round.Fello secures $25M in debt and equity to expand agent-led iBuying solutionIm done for this week.

Source: Techcrunch

Funding

$12M
Amount
Jul 10 2022
Date
-
Investor
n1co
Company

Classifications

Companies