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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.

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Lydia raises another $86 million to build...

December 16, 2020

French fintech startup Lydia has extended its Series B round. Accel is leading the extension with all major existing shareholders also participating. Lydia first raised $45 million in January 2020 — Tencent led that investment. The startup is now raising another $86 million, which means that Lydia has raised $131 million in total as part of its Series B round. While Lydia wouldn’t discuss the valuation of the round, its co-founder and CEO gave me a hint. “The value...

Upstart and Wish price their debuts as...

December 16, 2020

Today we’re digging into the IPO pricing of Upstart and Wish, perhaps the final fintech and e-commerce debuts of the year. Both unicorns priced last night and will begin trading this morning. But first, a programming note: The Exchange will publish through next Tuesday before taking a break until 2021; the last newsletter of the year will go out this weekend. And, just while we’re here, Equity will continue to drop, with some special episodes being compiled this week....

This VC introduced Palantir’s first business hire...

December 16, 2020

You might not know yet of XYZ Venture Capital, a four-year-old, San Francisco-based seed-stage venture firm, but many veterans of Palantir are surely aware of it. XYZ says it has already backed 22 startups whose founders came out of the data analysis company, including most notably, Anduril, Lucky Palmer’s defense tech startup. In fact, the founder of XYZ, Ross Fubini, says his firm wrote Anduril its first check. It all dates back to a key introduction. Fubini is a...

Revolut launches mid-tier subscription plan

December 15, 2020

Fintech startup Revolut is tweaking its subscription plans with a new mid-tier offering called Revolut Plus — it costs £2.99 per month. Like N26 Smart and Monzo Plus, the new plan is a pandemic-proof package that doesn’t focus as much on travel. For the past couple of years, challenger banks and alternatives to traditional bank accounts have been packaging additional services into paid plans. Essentially, those fintech startups are slowly becoming freemium software-as-a-service companies. The majority of users don’t...

Financial aid-focused Frank expands into helping students...

December 15, 2020

Frank, a startup best known for helping college students secure and manage financial aid, is expanding into a new part of the edtech world. Namely, finding and taking online classes, with the company helping students deploy their financial aid money to open digital slots at more than 100 colleges. As a company, Frank straddles the ground between consumer fintech, which helps regular people better manage their money, and edtech, the application of tech to the venerable business of learning....

Social stock trading services Public raises $65M...

December 15, 2020

Less than a year after it raised a $15 million Series B, Public, a social-focused free stock trading service, has raised a $65 million Series C. The startup is not the only company to raise successive rounds this year. Welcome has managed the feat, along with Skyflow and others. Public’s Series C, therefore, fits into the trend of investors doubling down into startups that they think have potential. After an initial freeze during the early pandemic months, venture capitalists...

Arya raises $21M to provide farmers in...

December 14, 2020

Only about a third of the yields Indian farmers produce reaches the big markets. Those whose produce makes it there today are able to leverage post-harvest services. Everyone else is missing out. A Noida-based startup is working with all the stakeholders — farmers, food processors, traders and financial institutions — to bridge this post-harvest services gap — and it just secured new funds to continue its journey. Seven-year-old Arya said on Tuesday it has raised $21 million in its...

IPO delays are bumming me out

December 14, 2020

A spurt of delays could derail the end-of-year IPO cavalcade, pushing some major flotations into 2021 and possibly complicating next year’s public-liquidity run. On Saturday, the NYT reported that gaming development platform Roblox would delay its IPO into the new year. Its CEO informed employees that the hiatus would allow Roblox to “improve specific process” for shareholders of all types. The Exchange explores startups, markets and money. Read it every morning on Extra Crunch, or get The Exchange...

Cledara, the SaaS purchase and management platform,...

December 14, 2020

Cledara, the SaaS purchase and management platform that helps bring greater viability and control over a company’s sprawling software subscriptions, has raised $3.4 million in additional funding. The round is led by Nauta Capital, with participation from existing investor Anthemis. It comes off the back of the startup growing revenues by 20x in 2020 — including 7x since August, although Cledara isn’t breaking out specific numbers. Founded in July 2018 by Cristina Vila, after she experienced the SaaS management...

Europe urged to block Google-Fitbit ahead of...

December 11, 2020

The European Commission must block the Google-Fitbit merger as a matter of democratic imperative, prominent academic and author Shoshana Zuboff has warned. The Harvard professor who wrote the defining book on surveillance capitalism has become the latest voice raised against the $2.1BN data+devices deal — that’s now been delayed at the regulatory clearance stage for over a year. Others calling for the Google-Fitbit acquisition to be blocked — unless or until robust competition, democratic and human rights safeguards can...

Sweden’s Tink raises $103M as its open...

December 11, 2020

Open banking platforms, where services that might not have previously lived next to each other are now joined up by way of APIs, has been one of the emerging trends of the last couple of years, and today one of the leaders in the space out of Europe has closed a round of funding to expand its business. Tink, a startup out of Stockholm, Sweden that aggregates a number of banks and financial services by way of an API...

Cleo, the AI-powered ‘financial assistant’, raises $44M...

December 10, 2020

Cleo, the London founded “financial assistant” that takes the form of an app and chatbot and now counts the U.S. as its largest market, has raised $44 million in Series B funding. Leading the round, which I understand actually closed earlier this year, is EQT Ventures. Also participating are existing investors Balderton Capital, LocalGlobe and SBI. They join much earlier investors such as Entrepreneur First, Taavet Hinrikus, Matt Robinson, Errol Damelin, Niklas Zennstrom, Alex Chesterman, and Ian Hogarth —...

Solactive, a German fintech, takes a $60.4M...

December 10, 2020

German fintech Solactive, a technology-enabled provider of indices and index solutions to the global financial services industry, has taken a $60.4m / €50 million minority investment from growth investor Summit Partners. Widely regarded as something of a disruptor in the global indexing industry, Solactive is benefitting from the ongoing and significant shift of active to passive investment strategies. Although Europe-based, it has more than 400 clients worldwide, including major investment banks, ETF providers and hedge funds, with more than...

Seoul-based payment tech startup CHAI gets $60...

December 9, 2020

Demand for contactless payments and e-commerce has grown in South Korea during the COVID-19 pandemic. This is good news for payment service operators, but the market is very fragmented, so adding payment options is a time-consuming process for many merchants. CHAI wants to fix this with an API that enables companies to accept over 20 payment systems. The Seoul-based startup announced today it has raised a $60 million Series B. The round was led by Hanhwa Investment & Securities,...

Coinbase’s backstory and future with ‘Kings of...

December 9, 2020

No industry better epitomizes elite tech opinion as blockchain. Ignored for years in its infancy, the industry received intense interest from investors, engineers and the public five years ago, generating some of the most deeply devout evangelists that have emanated from startups since the advent of the World Wide Web and the dot-com boom. Then, it all burned down, but a few companies made it through the flames, among them Coinbase . Coinbase today is still valued at a...

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