Fintech’s Highs and Lows: A Recap of 2023 From TechCrunch

In 2023, the fintech landscape witnessed several impactful stories. This extensively covered by TechCrunch, transcended fintech, impacting founders, investors, and industries, perpetuating an unfolding saga across diverse sectors.

Silicon Valley Bank’s Implosion: Its collapse affected startups like Brex, Arc, and Mercury, leaving a gap filled by startups in the space.

Apple’s Savings Accounts for Apple Card Users: The tech giant introduced savings accounts for Apple Card users, initially partnering with Goldman Sachs, later experiencing a partnership breakdown.

Mastercard’s Remarks on India’s UPI: Mastercard’s CFO expressed mixed sentiments about India’s UPI, praising its aspects but highlighting challenges for ecosystem participants.

WeChat Pay and Alipay Open to Foreign Users: Foreigners gained access to cashless transactions in China via WeChat Pay and Alipay, linking foreign credit cards for payments.

Visa’s Acquisition of Pismo: Visa acquired Brazilian fintech startup Pismo for $1 billion, marking a significant fintech M&A deal in 2023.

Slope’s $30 Million Venture Round: Sam Altman participated in Slope’s $30 million venture round, emphasizing business-to-business payments automation.

Carta’s CEO Addresses Negative Press: In a controversial move, Carta’s CEO addressed negative press through an email, drawing more attention to the reported problems.

Robinhood Acquires X1 for $95M: Robinhood acquired X1, a no-fee credit card startup, particularly for its plans to launch a trading platform.

Vesey Ventures Closes $78M Debut Fund: Three former managing directors of Amex Ventures founded Vesey Ventures, closing a $78 million debut fund for early-stage fintech startups.

Better.com’s Long-Delayed SPAC: Digital mortgage lender Better.com went public via a delayed SPAC, underperforming in its public debut.

ZestMoney Shutdown: After its founders resigned, ZestMoney ultimately shut down due to unsuccessful attempts to find a buyer, ending its eight-year journey.

These stories from 2023 are covered by TechCrunch to express the dynamic landscape and significant events in the fintech industry.

Source: For more details, read the TechCrunch article here.