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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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With the new financial year looming, now is a good time to review your Microsoft 365 licenses

CIO

Microsoft 365 is the productivity engine at the heart of many SMB businesses across Australia. Licensing can sometimes be complex to understand, however, which is why SMBs should make sure they’re sourcing their licenses from the right places. Having the right licenses for the applications the business needs are critical.

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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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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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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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Robco links up with $14M led by Sequoia to bring modular robotics to industrial SMBs

TechCrunch

In short, SMBs might need to scale up productivity at times but — either due to the economics of the need, or labor shortages, or both — are unable to hire people to fill those jobs on a permanent basis. No company yet has crossed the chasm to [provide] great, delightful technology that could be deployed in days or months.

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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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