Welcome to TechCrunch Fintech! This week we're seeing One Zero potentially raise $100 million, Apple Pay expanding support for lending options, and another way Stripe is making crypto a big priority for its business.
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the great story
One Zero, a fintech startup with the ambitious goal of “bringing private banking to the masses,” is in the process of raising at least $100 million, TechCrunch has learned.
Founded by Mobileye CEO Amnon Shashua, One Zero hasn't received as much attention outside of its home market of Israel, but the company has raised around $242 million so far. According to PitchBook data, the company was valued at $320 million in 2023, and our sources say the valuation will be significantly higher in the next round. While it is unclear who is investing, previous backers include Tencent, OurCrowd and SBI Ventures.
Analysis of the week
Apple Pay celebrates its tenth birthday with easier ways to pay later. In addition to support for Affirm lending options in the US and Monzo Flex in the UK, the company shared that support for Klarna will be rolling out in those countries, with lending options expanded in the future. The changes follow Apple's decision to reverse plans for its own buy now, pay later service, Apple Pay Later.
There are many technology tools for small businesses. to choose from to make smart decisions, but Uprise seeks to simplify everything. The startup acts as a financial advisor for small and medium-sized businesses (SMEs), incorporating into the financial services products they already use and providing companies with recommendations on what they should do.
Indian mutual fund and stock trading startup Groww It recently paid $159.4 million in taxes by moving its base of operations from the United States to India. Nearly a dozen Indian startups are in the process of relocating their headquarters to better comply with Indian laws and facilitate IPOs in the country.
dollars and cents
Stripe in talks to acquire stablecoin platform Bridge for a whopping $1 billion, according to Forbes, as Stripe continues to make cryptocurrencies a top priority for the company. Talks are reportedly in advanced stages, although nothing has been finalized.
French cyber insurance startup Stoïk raised a Series B round of 25 million euros (around 27 million dollars at the current exchange rate). Stoïk's cybersecurity insurance product is designed specifically for SMEs, and the company focuses exclusively on selling its product to European countries rather than the US.
High interest headlines 🗞
Interface.ai raises $30 million to help banks address customer requests
Indian central bank orders Sachin Bansal's Navi to suspend loans
Concourse is building AI to automate financial tasks
Rerail is a new fintech-focused angel fund from Cocoa's Anthony Danon
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