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Declining Presence of Fintech Companies in YC’s Demo Days

Yc 2022 Fall 3
Welcome to TechCrunch Fintech! One thing that stood out to me was just how much fintech representation in their cohorts is shrinking. So there was one-third the percentage of fintech companies this year compared to two years ago. Analysis of the weekFintech funding slid by 16% quarter-over-quarter during the three-month period ended March 31, according to CB Insights’ Q1 2024 State of Venture Report. During the three-month period, 904 investments were made into fintech startups, which was higher than 786 in the previous quarter, signaling smaller deal sizes.

“Fintech financing experiences significant decline, reaching record lows comparable to 2017”

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When it comes to funding, the fintech sector didn’t have a very good start to the year. Fintech funding slid by 16% quarter-over-quarter during the three-month period, according to CB Insights’ Q1 2024 State of Venture Report. But even more troubling than the double-digit dip was the fact that the $7.3 billion raised globally by fintech startups in the three-month period marked the lowest level the sector has seen since early 2017, according to the report. During the three-month period, 904 investments were made into fintech startups. Dollars raised and deal count is also down compared to the fourth quarter of 2023, when 786 fintech startups raised $8.7 billion.

“New Leadership, Same Mission: How Slack’s CEO Plans to Restore Balance Amidst Turmoil”

Denise Dresser Speaking
Slack’s new CEO looks to bring stability after a turbulent period Three chief executives in one year will do thatIt’s not often you see an established company burn through three CEOs in less than a year. But through circumstances beyond its control, that’s what has happened at Slack, the company Salesforce acquired in 2020 for $28 billion. Jones herself had replaced company co-founder Stewart Butterfield when he announced that he was leaving at the end of 2022. “And then you think about Salesforce having this incredible set of customer data, some of the world’s most valued data. Even though Harris brings a long history of building Salesforce, Slack is losing a person who has a deep understanding of Slack’s technical underpinnings.

“Getaround’s Third Quarter Profits Bring Joy to Investors, But Challenges Still Loom Ahead”

Ga Car Photo 8.1.22
Peer-to-peer carsharing company Getaround has filed its first earnings report since going public a year ago via a SPAC combination. The company’s third-quarter earnings report details a company seeing quick revenue growth, but not enough top line yet to cover its expenses. In the third quarter, the company lost $27.3 million on a net GAAP basis, 16% better than what it reported in Q3 2022. The company didn’t share its revenue goals for the year, but its Q3 revenues reflect an annualized run-rate of over $95 million. The company did not file its 2022 annual report, and has only just filed its third-quarter earnings report.

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