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Novo, the SMB neobank, nabs $90M at a $700M valuation

TechCrunch

There are a number of fintechs, some that describe themselves as challenger banks, in the market today catering to SMBs. (We’ve They are the only ones we are concerned with because they own 99% of the market,” said Michel Rangel, CEO of Novo, in an interview earlier this month.

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Factorial adds $120M and doubles valuation to $1B to build enterprise-quality HR for SMBs

TechCrunch

Small and medium businesses, long overlooked in the building of innovative technology, have lately become a key focus in the world of B2B software. While developed markets like the U.S., While developed markets like the U.S., Our market share is ridiculously small and it’s mostly greenfield.”

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So much fintech M&A

TechCrunch

On Friday, January 13, investment giant BlackRock announced it was acquiring a minority stake in SMB 401(k) provider startup Human Interest. For one, as one source told me, BlackRock’s investment is a show of faith in the SMB 401(k) market — one where the firm hasn’t historically played.

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TechCrunch+ roundup: Optimizing acquisition, parental leave tips, riding the downturn express

TechCrunch

Despite the quickening pace of layoffs, there is some good news for SaaS startups: 70% of SMBs plan to increase IT spending in 2023, and the procurement process is getting faster. “At the awareness stage, businesses are looking to solve a problem or challenge using technology,” writes Hogan.

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Fintech investors appear to be favoring later-stage deals as sector takes a hit, recent data shows

TechCrunch

My dear friends and co-hosts on the Equity Podcast , Alex and Natasha, last week discussed the fintech funding market not once, but twice — here and here. For the record, Crunchbase defines fintech as companies that integrate technology in the financial services sector. Until then, we took a look at some recent numbers. Weekly News.

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UK’s MarketFinance scores $383M to fuel its online loans platform for SMBs

TechCrunch

Barclays is a strategic investor: MarketFinance powers the bank’s online SMB loans service. ” He said the money will be “going into our reserves” and used for new product development, marketing and to continue building out its API connectivity. Italian bank Intesa Sanpaolo S.p.A.

SMB 211
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Cybersecurity Snapshot: Log4j Anniversary, CI/CD Risks, Infostealers, Email Attacks, OT Security

Tenable

Cyber Safety Review Board published a 50-plus page report on the Log4j event, and a key takeaway was that Log4Shell is an “endemic vulnerability” that’ll be around for a decade — or perhaps longer. . For example, the number of logs available in the highly popular Russian Market grew by almost 40% to 4.5 Back in July, the U.S.