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Suborbital space tourism finally arrives | FCC prepares to run public C-band auction | The big four in the U.S. launch industry — United Launch Alliance, SpaceX, Blue Origin and Northrop Grumman — hope to be one of two providers that will receive five-year contracts later this year to launch national security payloads starting in 2022. | China’s launch rate stays high | The International Space Station is the largest ever crewed object in space.

 
Commsor buys Meetsy to build community tools...
Mac Reddin, the co-founder and CEO of Commsor, met the first professional investor for his company’s $16 million Series A on Lunch Club, a marketplace for 1:1 video introductions. Commsor, which sees itself as an operating system for community managers, then experienced firsthand the benefit of matching people within similar industries in an engaging, online setting. It’s thus quite fitting that, months later, Commsor is adding a company to its tech stack that is focused on private networking within...

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The Nubank EC-1
Brazil is a country riven with economic contradictions. It has one of the largest and most profitable banking industries in Latin America, and is among the world’s most developed financial markets. Financial transactions that would take days to process in the United States through ACH happen instantaneously in Brazil. This sophistication, however, masks a backward state of affairs plagued by appalling customer service, exorbitant fees and lack of banking access for many. The country’s financial system is volatile and...

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How contrarian hires and a pitch deck...
For most startups, the hardest early challenge is identifying a market and a product to serve it. That wasn’t the case for Nubank CEO David Velez, who understood the massive potential for success if he could break into Latin America’s most valuable economy with even a moderately modern banking offering. Instead, the challenge was how to rebuild the concept of a bank in a country where banking is widely hated, all while the incumbents heavily entrenched with the state...

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How Nubank’s CX strategy made it one...
As we saw in parts 1 and 2 of this EC-1, by mid-2013, Nubank CEO David Velez had most of what he needed to get started. He’d brought on two co-founders, assembled ambitious engineering and operations teams, raised $2 million in seed funding from Sequoia and Kaszek, rented a tiny office in São Paulo, and was armed with a mission to deliver the kind of banking services that customers in a market as large and lucrative as Brazil’s should...

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How many opinions does it take to...
In a world of talking points and corporate jargon, opinions are refreshing — and Expensify CEO and founder David Barrett is full of them. One of his earliest lessons in life, for example, was that basically everyone is wrong about basically everything. If instilling that at a young age doesn’t force you to become an entrepreneur, I don’t know what does. Barrett’s ethos has, as reporter Anna Heim puts, led to Expensify having “its own take on almost everything”...

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Inside Marqeta’s fintech mega-IPO
Welcome back to The TechCrunch Exchange, a weekly startups-and-markets newsletter. It’s broadly based on the daily column that appears on Extra Crunch, but free, and made for your weekend reading. Want it in your inbox every Saturday? Sign up here. Ready? Let’s talk money, startups and spicy IPO rumors. A small programming note: The Exchange column and newsletter are off next week (6/14-6/19), returning to regular service 6/21 after I get some sleep and come up with some new...

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Temasek and General Atlantic in talks to...
Bangalore-based neobank Open is in advanced stages of talks to raise about $100 million, according to two sources familiar with the matter. Temasek, the Singaporean government’s sovereign wealth fund, and General Atlantic are positioning to co-lead the Series C financing round, which values the Indian startup at pre-money $600 million, the sources told TechCrunch, requesting anonymity as the matter is private. Open was valued at about $150 million in its Series B funding round two years ago. Existing investor...

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Money Minx aims to build a ‘Personal...
New regulations are making it easier to invest in alternative assets via crowdfunding, and the recent explosion of crypto and NFTs means that investors are more diversified than ever.  Keeping up with such a variety of investments may prove difficult to those who want to handle managing their investment portfolios on their own. Money Minx, a new San Diego-based startup co-founded by husband and wife team Hussein and Jessica Yahfoufi, wants to help with that. Put simply, Money Minx...

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What do these 4 IPOs tell us...
We’re digging into the final IPO prices set by fintech unicorn Marqeta and enterprise productivity unicorn Monday.com this morning. Briefly, it’s good news. A small programming note: The Exchange is off next week. I am taking some time to do nothing other than eat, read books and lose at lawn games. Regular service will resume the week after. The Exchange explores startups, markets and money.  Read it every morning on Extra Crunch or get The Exchange newsletter every Saturday....

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Fintech startup TreasurySpring raises $10M for platform...
Fixed-term-funds (FTFs) have historically been a bank-to-bank market. FTF products allow for investing into some of the safest assets including, UK Government bonds, US Government bonds and highly-rated corporations. They allow holders of large amounts of cash (such as charities, private funds, family offices etc) to reduce and diversify their risk, but also increasing returns. TreasurySpring is a fintech startup that is aiming to opening up access to this area of financial markets, by creating a Fixed-Term Fund platform....

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Fintech giant Klarna raises $639M at a...
Just over three months after its last funding round, European fintech giant Klarna is announcing today that it has raised another $639 million at a staggering post-money valuation of $45.6 billion. Rumors swirled in recent weeks that Klarna had raised more money at a valuation north of $40 billion. But the Swedish buy now, pay later behemoth and upstart bank declined to comment until now. SoftBank’s Vision Fund 2 led the latest round, which also included participation from existing...

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Can payday loans be made obsolete? With...
The world seems to move faster every year, and yet, nothing feels slower than the speed by which paychecks get distributed. In the United States, work conducted the day after a pay period will take two weeks just to process, with a check or direct deposit coming another week or two later. For the tens of millions of employees who live paycheck-to-paycheck, that multi-week delay can be the difference of making a rent check — or not. A variety...

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BukuWarung, a fintech for Indonesian MSMEs, scores...
BukuWarung, a fintech focused on Indonesia’s micro, small and medium enterprises (MSMEs), announced today it has raised a $60 million Series A. The oversubscribed round was led by Valar Ventures, marking the firm’s first investment in Indonesia, and Goodwater Capital. The Jakarta-based startup claims this is the largest Series A round ever raised by a startup focused on services for MSMEs. BukuWarung did not disclose its valuation, but sources tell TechCrunch it is estimated to be between $225 million...

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Daily Crunch: A crowded market for exits...
To get a roundup of TechCrunch’s biggest and most important stories delivered to your inbox every day at 3 p.m. PDT, subscribe here. Hello and welcome to Daily Crunch for June 9, 2021. Today was TC Sessions: Mobility, a rollicking good time and one that we hoped you enjoyed. Looking ahead, we’re starting to announce some speakers for Disrupt — including Accel’s Arun Mathew. Mark your calendars, Disrupt is going to be epic this year. — Alex The TechCrunch...

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Mythical Games raises $75M to build an...
Even as NFT sales dip below their most speculative highs, startups aiming to tap into their potential are still scoring big funding rounds from investors who believe there’s much more to crypto collectibles than the past few months of hype. Mythical Games, an NFT games startup based out of Los Angeles, has banked a $75 million raise from new and existing investors betting on the startup’s aim to expand the ambitions of their first title and locate a substantial...

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