Hi all, it was a roller coaster of a week in the world of fintech as I published two separate articles on startup layoffs and a nine-figure funding round in the span of a few hours. It was also a week filled with lots of activity on FinTwit, or “Financial Twitter,” as it’s more formally known — thanks to more than just a little back and forth involving Stripe and Plaid. So, grab your popcorn and sit down for a few as I attempt to break it down for you.
Fintech-as-a-service startup Rapyd launched Virtual Accounts, a product aimed at giving businesses a way to expand globally while supporting local payments. In its words, “This new offering allows organizations anywhere in the world to securely and reliably accept local bank transfers across over 40 countries in more than 25 currencies, including the US, UK, EU, and APAC regions.”