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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.

Everything is a Brand

When building a startup, think like a...

August 3, 2020

Tyler Griffin Contributor Tyler Griffin co-founded Prism Money, a consumer-focused bill payment tool, in 2012 and is now a managing partner at Financial Venture Studio, which invests in early-stage fintech startups. “Never run a dual-track process.” You’ll probably hear this advice if you ask an investor about raising money and selling a business concurrently, and it’s good advice. The two processes are so different, so all-consuming and require such different priorities that it is nearly impossible to do both...

Metro Bank is acquiring peer-to-peer lender RateSetter...

August 3, 2020

Incumbent banks acquiring fintechs is nothing new, and amidst the coronavirus crisis, we can likely expect to see that trend continue. The latest such move comes from publicly listed Metro Bank, which today has announced its intention to purchase peer-to-peer lender RateSetter for up to £12 million. Pending approval by U.K. regulators, Metro Bank is acquiring RateSetter for an initial price of £2.5 million, with “additional consideration” of up to £0.5 million payable 12 months after completion. Upon the...

The Exchange: Unicorn IPOs, tech earnings and...

August 1, 2020

The TechCrunch Exchange newsletter just launched. Soon only a partial version will hit the site, so sign up to get the full download. Welcome back to The TechCrunch Exchange, a weekly startups-and-markets newsletter for your weekend enjoyment. It’s broadly based on the daily column that appears on Extra Crunch, but free. And it’s made just for you. You can sign up for the newsletter here. With that out of the way, let’s talk money, upstart companies and the latest...

This Week in Apps: A guide to...

August 1, 2020

Welcome back to This Week in Apps, the TechCrunch series* that recaps the latest OS news, the applications they support and the money that flows through it all. The app industry is as hot as ever, with a record 204 billion downloads and $120 billion in consumer spending in 2019. People are now spending three hours and 40 minutes per day using apps, rivaling TV. Apps aren’t just a way to pass idle hours — they’re a big business....

Daily Crunch: Florida teen arrested in Twitter...

July 31, 2020

Three arrests are made following this month’s celebrity Twitter hack, Microsoft may be working to acquire TikTok’s U.S. business and Facebook launches licensed music videos. Here’s your Daily Crunch for July 31, 2020. The big story: Florida teen arrested in Twitter hack In a hack earlier this month, high-profile Twitter accounts like Apple, Elon Musk, Barack Obama and Joe Biden were compromised and posted messages promoting a cryptocurrency scheme. Now an investigation by the FBI and Department of Justice...

Florida teen accused of being ‘mastermind’ behind...

July 31, 2020

Hillsborough State Attorney Andrew Warren announced today that he has filed 30 felony charges against a 17-year-old resident of Tampa, Florida, who was described by Warren’s office as “the mastermind of the recent hack of Twitter.” The hack in question occurred earlier this month and involved high-profile Twitter users like Apple, Elon Musk, Joe Biden and Barack Obama, whose accounts all posted messages promoting a Bitcoin wallet and claiming, “All Bitcoin sent to the address below will be sent...

Working to understand Affirm’s reported IPO pricing...

July 31, 2020

How much revenue does it takes to earn an eleven-figure valuation? Alex Wilhelm 8 hours News broke last night that Affirm, a well-known fintech unicorn, could approach the public markets at a valuation of $5 to $10 billion. The Wall Street Journal, which broke the news, said that Affirm could begin trading this year and that its IPO options include debuting via a special purpose acquisition company, also known as a SPAC. That Affirm is considering listing is not...

Twitter says ‘phone spear phishing attack’ used...

July 31, 2020

Twitter has revealed a little more detail about the security breach it suffered earlier this month when a number of high-profile accounts were hacked to spread a cryptocurrency scam — writing in a blog post that a “phone spear phishing attack” was used to target a small number of its employees. Once the attackers had successfully gained network credentials via this social engineering technique they were in a position to gather enough information about its internal systems and processes...

Rakuten is shuttering the online shop formerly...

July 30, 2020

Japanese conglomerate Rakuten has pulled the plug on its U.S. online retail store, originally known as Buy.com, and will wind down its operations over the next two months, the company confirmed to TechCrunch. The shutdown means that the US headquarters will lay off its staff as well, meaning 87 people will lose their jobs, according a source familiar with the developments. “We have decided to sunset the U.S. Rakuten Marketplace,” a company representative said in an email to TechCrunch....

Magnetis raises $11 million for its automated...

July 30, 2020

Magnetis, an automated wealth management solution for Brazilian investors, has raised $11 million in a new round of funding as it transforms itself into a full-service brokerage for the nation’s investor class. Investors in the round included Redpoint eventures and Vostok Emerging Finance, the company said. “We’re quite happy with this vote of confidence from our investors. It only reinforces the credibility of our service and business model, which uses technology for goal-based investment management, without creating a conflict of interest,”...

Singapore-based Volopay wants to be the “Brex...

July 30, 2020

Volopay founders Rajith Shaji and Rajesh Raikwar Small- to medium-sized companies that do a lot of international business have to deal with two big headaches: high foreign exchange fees and corporate expense tracking. Volopay, a Singapore-based financial tech startup with offices in Bangalore, wants to help by integrating prepaid multi-currency corporate cards, expense tracking and accounting tools into one free-to-use platform. Volopay is currently taking part in Y Combinator and is also part of Antler and Nium’s Bolt, two...

Build products that improve the lives of...

July 29, 2020

Nik Milanovic Contributor Share on Twitter Nik Milanovic is a fintech and financial inclusion enthusiast, with a decade of work across mobile payments, online lending, credit and microfinance. The opinions expressed in his articles do not reflect those of his employer(s). More posts by this contributor Now more than ever we need fintechs to lead on consumer transparency Who will the winners be in the future of fintech? Those of us who work in technology should always be asking...

Remitly raises $85M at a $1.5B valuation,...

July 29, 2020

Remittances — when people send money internationally to family and friends, or as a payment — has long been one of the most important levers for getting funds to people in developing economies. However, the persistent spread of the coronavirus is having a tough impact on that, with the World Bank estimating that remittances to low and middle-income countries will fall 20% this year to $445 billion (down a record $554 billion in 2019). That’s due in part to the economic...

With Robinhood’s UK launch delayed, eToro to...

July 29, 2020

Investment app eToro is to launch a debit card, following its acquisition of Marq Millions Ltd, the UK based e-money business. Marq Millions will now trade as eToro Money and will be the issuer for eToro’s card. The acquisition was for an undisclosed amount, and the Marq Millions management team stays on. The card will initially be available to eToro Club members in the UK, then Europe, and will later be extended to non-eToro users. eToro has over 14...

TransferWise confirms new $5B valuation following $319M...

July 28, 2020

TransferWise, the London-headquartered international money transfer service, is disclosing that it is now valued at $5 billion by private investors, confirming an earlier Sky News report. The new valuation represents an increase of 43% since May 2019, and has been triggered by a further $319 million in secondary share sales. Leading the “secondary” share round — which sees existing shareholders, including employees, permitted to sell a portion of their holdings to other new and existing investors, and therefore means...

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