FinTech news in MainStreet category

Sources say the down round comes as MainStreet also pursues a recapitalization, in which older investors are selling their stakes at a discounted valuation with new ones entering at friendlier terms. Thus, MainStreet’s new said value could be a sign of investors needing cash, and yet another data point of tech startups experiencing valuation haircuts.

MainStreet, a startup that helps other startups uncover tax credits that was valued at $500 million last year, has laid off about 30% of its staff, according to a tweet from CEO Doug Ludlow.