This week’s fintech landscape is bustling with major developments as industry leaders make strategic moves and prepare for significant financial milestones.
Klarna and Deel Eye IPOs
Klarna, the Swedish buy now, pay later giant, has hinted at its plans for a U.S. initial public offering (IPO) in April. The company is reportedly aiming for a $15 billion valuation, which would still be a significant drop from its peak valuation of $45.6 billion in 2021. Meanwhile, Deel, a fintech specializing in global HR operations, is also laying the groundwork for an IPO, having achieved an annual revenue run rate of $800 million in 2024.
Stripe Embraces Crypto
Payment giant Stripe has made a significant push into the cryptocurrency space with its $1.1 billion acquisition of stablecoin platform Bridge. This marks Stripe’s largest acquisition to date and underscores its commitment to integrating digital assets into its services.
Fintech Funding and Partnerships
Khazna, an Egyptian fintech providing financial services for low- and middle-income workers, has secured $16 million in pre-Series B funding. Rapyd Financial Network is seeking $300 million in a new funding round that would value the company at $3.5 billion, a decrease from its previous valuation of approximately $9 billion.
Super Bowl Surprise
Saquon Barkley, running back for the Philadelphia Eagles, has not only invested in fintech startup Ramp but also starred in the company’s first Super Bowl commercial.
High-Interest Headlines
In regulatory news, the US Consumer Financial Protection Bureau (CFPB) has ordered a temporary suspension of work for all staff, following the closure of the bureau’s headquarters for a week by the Trump administration. Additionally, Plaid is reportedly working with Goldman Sachs on a $300 million to $400 million tender offer.
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