FinTech news in initialized capital category

Beyond co-founding Initialized, which raised a $700 million fund (its sixth) last year and has more than $1 billion in known assets under management, Tan was also co-founder of YC-backed blog platform Posterous, which was acquired by Twitter in 2012. Initialized Capital founder Garry Tan will become president and CEO of Y Combinator next year, the two organizations announced today. Initialized Capital’s other co-founder, Reddit co-founder Alexis Ohanian, left the firm in 2020 to start his own early-stage operation, 776. Months after the departure, Tan said that Ohanian isn’t leaving the firm altogether but is instead stepping into a board partner role at Initialized.

But Paper, a crypto-focused payments processing company launched in February, is working to make buying, using and holding NFTs easier for the everyday customer or fan trying to buy a digital collectible, James Sun, co-founder and CEO of the company, told journalist. While incorporating email addresses might feel more Web 2.0-focused, Sun said the team aims to maintain the interoperability of what crypto is supposed to be.