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Welcome to your daily FinTech news!
In case you missed it, please see below today's most relevant news, or tune in to our Daily Fintech Podcast here.
NEWS HIGHLIGHT
Stripe founders’ fortunes plunge by more than $6bn amid global tech stock meltdown. Stripe slashed its internal share price by 28% to $29 per share from $40 in early July in a move that brought down the company's valuation to $74 billion. Compared to $95 billion, when the company raised $600 million in a funding round last March. Link here.
FINTECH NEWS
#Insights
- 409 investors drove LatAm’s FinTech sector in H1 2022, Y Combinator, an American-based technology startup accelerator, accounted for the most deals, with seven in total. Link here
- Indian Fintechs struggle to turn a profit. A survey of over 125 founders at Indian fintech found that more than 70% of executives believe most companies may not be able to turn a profit. Link here
- Brazil will be a global leader in Open Banking. Brazil’s Open Banking and Finance ecosystem will soon be the largest in the world, according to speakers at an industry event. Link here
- Center of the start-up world. Listen to TechCrunch's latest podcast episode of their Equity series to learn more about the Figma-Adobe deal, the best deals of the week, the wave of new venture funds in Europe, etc. Link here
#FinTechInnovation
- ECB picked companies to develop prototypes for user interfaces to assess the potential for a digital Euro. Each company will focus on one specific use case of a digital euro. Link here
