Tag: Sequoia

FTX, once hailed as the gold standard of crypto exchanges, imploded in November 2022, revealing a multi-billion-dollar fraud orchestrated by founder Sam Bankman-Fried (SBF). What began as a scrappy crypto derivatives exchange turned into a house of cards built on customer fund misuse, opaque affiliate structures, and a startling absence of regulatory oversight

In a strategic move gearing up for its future public listing, Swedish fintech giant Klarna has initiated a significant corporate reshuffle, confirming preparations for an impending IPO. The firm announced the formation of a holding company in the United Kingdom, marking a pivotal step in this direction, a decision supported by a profitable third quarter that witnessed a 30% revenue increase to approximately $550 million.

Amid the global downturn of the FinTech segment, the Berlin-based online broker unicorn Trade Republic secured another €250 million in a Series C extension at a valuation of €5 billion, PayCom42 reported. The round was led by Ontario Teachers', one of the world's largest pension funds and institutional investors, along with the participation of existing investors. Just a year ago Trade Republic raised $900 million in a Sequoia-led round. The German FinTech was founded in 2015 by Christian Hecker, Thomas Pischke and Marco Cancellieri.