Real estate services giant Fidelity National Financial has confirmed hackers stole data on 1.3 million of its customers during a November cyberattack that knocked the company offline for a week.
FNF spokesperson Lisa Foxworthy-Parker did not respond to TechCrunch’s email requesting further details.
FNF said it “contained” the cyberattack on November 26 following a week-long outage that virtually froze all of the company and much of its subsidiaries’ operations.
One of FNF’s subsidiaries described the incident as a “catastrophe” in an automated message for customers.
FNF was one of several corporate victims of cyberattacks in recent weeks targeting the mortgage and loan industry, including LoanDepot and Mr. Cooper.
But when is the right time to hire a CFO, and is a full-time CFO even necessary in this age of C-level-as-a-service?
It is common for founders to think narrowly about accounting when considering whether to hire a CFO.
It is common for founders to think narrowly about accounting when considering whether to hire a CFO.
Startup coach and CFO Evgeny Popov said that hiring a CFO was a no-brainer, akin to finding a CTO for your tech company.
“Unfortunately, hiring a CFO is not an obvious move for founders because most founders come from the product or tech worlds and don’t see the CFO as vital to growth.”
Tamara, a buy now pay later platform for consumers in Saudi Arabia and the wider GCC region, has raised $340 million in a financing C round that values the fintech at $1 billion.
Both startups, albeit competitors, highlight the surging growth in BNPL usage, particularly in Saudi Arabia, the market that makes up more than 80% of Tamara and Tabby’s customer base.
“Saudi Arabia and the GCC deserves its place on the world stage for financial technology.
Before launching Tamara, Alsukhan co-founded Nana, a digital grocery shopping platform where he was the chief financial officer for three years.
Tamara is also allocating part of the investment to introduce new products and services beyond BNPL and capitalizing on opportunities in shopping and financial services across Saudi Arabia and the GCC.
Bank and technology platform Kapital continues to rake in venture capital, grabbing another $40 million in Series B dollars and $125 million in debt financing.
We previously covered Kapital’s $20 million Series A in May that included $45 million in debt.
Rene Saul and Fernando Sandoval co-founded Kapital in 2020 to provide similar financial visibility to small businesses, using data and artificial intelligence, that large enterprises have.
“Small businesses represent 90% of the world’s businesses; however, in Mexico, only 10.5% of those small businesses have access to total bank credit,” Saul said.
“That’s what we’re fixing — we give them visibility of their finances.”In 2023, Kapital’s customer base grew to 80,000 small businesses in Mexico, Colombia and Peru.
In 2020, the startup raised $27.5 million in its Series E funding round led by Alphabet’s CapitalG.
It competes with the likes of Capital Float, Lendingkart and Indifi, which all work toward offering credit to small enterprises in the South Asian nation.
One key reason for startups like Aye Finance and others to gain enough traction in India is the lack of credit for small businesses.
“Aye Finance is on a growth journey, and we are delighted to partner with BII, who have a deep understanding of the financial services sector in India.
“Our investment in Aye Finance underscores our commitment to back companies that have a strong development impact philosophy and promote financial inclusion for India’s underserved groups.
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