FinTech news in Founders Fund category

So the pair spent nights and weekends building a prototype for Loop, a startup that sits at the intersection of logistics and payments, before leaving Uber in May of 2021 to focus full time on the business. And, McKinney claims, it can bring payments down Loop makes money by taking a percentage of total payments volume. Matt McKinney was a data science manager at Uber, helping launch Uber Freight, along with software engineer Shaosu Liu. One of the tailwinds that helped Loop, believes McKinney, is the COVID pandemic-driven secular shift of paper to electronic methods of payments.

Pomelo, Frenkiel’s new startup launching out of stealth today, wants to make it easier to send remittance payments and conduct international money transfer, with a credit twist.

Two firms stuck out in recent days, including Urban Innovation Fund, which closed with commitments of $100 million for its Fund III and $20 million Opportunity Fund, and VMG Catalyst‘s $400 million Fund II.

Mudafy, a tech-enabled real estate broker operating in Latin America, has raised $10 million in a Series A round of funding led by San Francisco-based Founders Fund.

Pulley is also helping companies weather this economic downturn, and though most of the companies Pulley works with are at an earlier stage and aren’t seeing the kinds of layoffs occurring in later stages, I asked Wu what kinds of questions Pulley was getting from customers.

Tactic's software, Jaskiw said, helps companies automatically categorize transactions and apply accounting logic such as calculating $USD gain/loss and taxable events. Tactic, she said, has partnered with accounting firms to help interpret accounting guidelines for DeFi-specific activities such as staking, NFT minting and airdrops.

Ondo is primarily focused on building many of the functions typically associated with the middle and back office of an investment bank on-chain, Allman explained, noting that it does not currently have plans to directly offer advisory services to DAOs or crypto companies as a traditional investment bank might.

The startup, founded by a former Palantir engineer and a Freddie Mac exec, is taking a data-integration focused approach inspired by the data giant and applying it to the real estate capital markets, its co-founder and CEO Charles McKinney

Bijan Moallemi, Joe Garafalo and Brian Campbell started San Diego-based Mosaic in 2019 after meeting at Palantir Technologies, where they worked on building out that company finance organization as the company grew to 2,500 people and over $750 million in revenue. Mosaic, which aims to change the way CFOs of high-growth companies operate, has raised $25 million in a Series B round of funding led by Founders Fund.

Earlier this month, Ramp also announced a partnership with Amazon for Business, in which customers can connect their Amazon Business account to Ramp and then anytime an employee uses one of its cards to make a purchase, Ramp automatically pulls the receipt. Notably, Ramp is college friends Glyman and Atiyeh’s second venture in the spend management industry following the sale of online price tracker Paribus to Capital One in 2016.

Withco mission is to purchase properties and then rent them back to small business owners with the option to purchase the property at a future date. For Song, withco is also about putting more control in the hands of small business owners, which face more challenges than ever before.

Founders Fund Partner Matias Van Thienen said his firm had been looking for an investing and savings platform in Latin America that could offer global equities with a high-quality product and a suitable regulatory approach.

Inventa, a Brazil-based company offering a digital marketplace for small and medium-sized companies to discover and purchase new inventory, raised $20 million in Series A funding.