For decades til nowadays . technology has been improving making our lives better,easier,practical , and illuminating travel and hardwork by using innovation and it’s revolution .managing how people spend their money wether by online banking or online shopping even cross border payments or high-frequency trading, the world has been already in it’s midst of slow-motion revolution . Then the COVID-19 came and arriving a new reality where nearly every aspect of life has shifted from the analog to the digital making that fintech revolution accelerating . Welcome to our week pitch where there is a combination happening that you should know about : biggest startups in fintech are chasing down new funding and one of the biggest firms in VC is leading the charge : 1-Money moves :
- Stripe, which said it raised $600 million at a $36 billion valuation, just the latest example of payments processing startups the most notable funding
- Stripe's services are central to many companies that are increasingly relevant during a time of social distancing, including names like Instacart, DoorDash, Slack, DocuSign and Blue Apron. That's probably one reason big-name investors such as Andreessen Horowitz, General Catalyst and Sequoia were willing to write big checks for the second time in less than a year. - It isn't only new VC deals: Other fintech startups have been garnering hefty price tags in recent months on the M&A market. Visa agreed to buy Plaid for $5.3 billion. Intuit is planning a $7.1 billion purchase of Credit Karma. And last week, SoFi lined up a $1.2 billion acquisition of Galileo Financial Technologies. 2- SOFTBANK is backing LAYOFFS : alot of jobs continue to mount across startups , and those that has been effected are mostely companies funded by Softbank and are hited hard .such as the 600 workers layoffs this week in OPENDOOR and 200 layoffs in ZUME as a second major round 3- Big health care bucks Blackstone made an unorthodox bet on biotech this week, agreeing to invest $2 billion in debt and equity in publicly traded Alnylam. The deal calls for Blackstone to receive 10% of all future royalties from a new treatment for high cholesterol called inclisiran. Elsewhere, PE Hub reported that TPG Capital agreed to invest in LifeStance Health Partners, a provider of outpatient behavioral health service based near Seattle, at a $1.2 billion valuation. 4- Huge venture funds Top-tier firms are also still raising funds in VC. Lightspeed closed three massive funds by itself, collecting a total of $4.2 billion across separate early-stage, growth and opportunities vehicles. Andreessen Horowitz, meanwhile, is seeking $450 million for its second cryptocurrency fund, the Financial Times reported this week.