After accounting startup Bench abruptly shut down on December 27 and was bought in a fire sale by Employer.com, Bench customers are now learning they can't easily just take their financial data and leave. This situation has left many customers unhappy, as it turns out that in order to retrieve their data, they have to grant Employer.com access. This is problematic since the only entity that had the records is now in bankruptcy proceedings.
Float Financial, an expense management and corporate card startup, focuses on the Canadian market and successfully raised $50 million in its Series B funding round. The excitement around Float is fueled by its ambition to cater specifically to Canadian SMBs, distinguishing itself from U.S-based competitors such as Brex and Ramp. This funding will enable Float to enhance its offerings and solidify its market position in Canada.
The 24-year-old Pryce Yebesi has already made headlines with his success after selling his crypto invoicing platform, Utopia Labs, to Coinbase. He’s now set to launch Open Ledger, a venture aimed at integrating automated accounting solutions into existing enterprise and small business software. With $3 million raised in funding from Kindred Ventures and Blank Ventures, Yebesi is poised to make waves in the fintech landscape once again.
NomuPay, a company specializing in cross-border payments across Asia and the Middle East, has successfully secured $37 million in funding, bringing its valuation to $200 million. This capital infusion is intended to facilitate NomuPay's expansion efforts, underscoring the growing recognition and demand for efficient cross-border payment solutions in the rapidly evolving fintech ecosystem.
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