JPMorgan Chase & Co., the largest bank in the United States, is reportedly aggressively positioning itself as the leading financial partner for tech companies in Silicon Valley. After the collapse of Silicon Valley Bank (SVB), JPMorgan sees an opportunity to fill the void and attract the...
It’s a challenging economy for consumers — and startups don’t have it any better. Nine out of every 10 startups that raise money end up failing over a 10-year period. Observers believe that venture-backed startups fail at higher numbers than the industry usually cites. Although far more businesses fail than eventually...
Ghost kitchen startup CloudKitchens has reportedly fired staff and closed warehouses to shrink expenses. The apparent cuts at the company — led by Uber co-founder and ex-CEO Travis Kalanick — are the subject of a Tuesday (Sept. 5) report by the Financial Times (FT), and offer the latest example of the...
A sharp decline in venture capital has reportedly battered Latin America’s startup sector. Two-thirds of startups in that region have cut staff in the last 18 months as VC investments have dropped, Reuters reported Wednesday (Aug. 30). VC funding in the second quarter plunged 65% year over...
European startups are reportedly rethinking expansion amid a venture funding drought. As the Wall Street Journal reported Tuesday (Aug. 22), the struggle to find financing has become the norm for these companies as investors seek safer investments such as bonds. The report, citing data from Pitchbook, says...
The United Kingdom has taken a significant step to bolster its position as a global FinTech investment hub by launching a £1 billion investment fund, announced Wednesday (Aug. 16) by UK FinTech Growth Partners. The fund, called the Fintech Growth Fund, aims to support growth-stage...
The startup world is facing a historic slump with a venture funding drought threatening hundreds of previously funded businesses. Investors have sharply cut back on funding for tech and early-stage startups in the United States, leading to a 49% decline in tech startup funding in the year...
Airwallex has joined forces with venture investing platform OurCrowd to make it easier to invest in startups. The partnership, announced Wednesday (Aug. 2), lets institutions and individuals invest in startups anywhere, with their local currency and with a single button click. “Until now, when making a startup investment, investors...
We’re a long way from the halcyon days of FinTech funding just a few years ago. Sezzle CEO Charlie Youakim and Vera Equity Co-founder Jon Pomeranz told PYMNTS Karen Webster that in the current environment marked by higher costs of capital and nascent firms that...
