Why some former Bench customers are not happy

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This week, we’re looking at the latest on the controversial fintech bench, Robinhood’s $45 million settlement, a few M&A deals, some great fundraising and more.

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After starting accounting the bench sudden stop Dec. 27 and purchased by Employer.com in a fire sale, Bench customers are now learning that they can’t simply take their financial information and walk away. And something happens Very unhappy with it. Meanwhile, the bench claimed that “the only way they can get their data is to allow Employer.com to access their data, as the only other entity that currently has that data no longer exists and is in. active bankruptcy proceedings.”

dollars and cents

Float FinancialAn expense management and corporate card startup focused on the Canadian market raised $50 million In a Series B funding round. The Toronto-based fintech compares itself to US-based fintech giants Brax And the ramp But says it’s different in that its sole focus is on Canadian SMBs.

At 24, Price Yebesi has already had one exit: selling his crypto invoicing company Utopia Labs to Coinbase for an undisclosed amount. On Monday, Yebesi announced the launch of his new company, Open the laserwhich embed automated accounting software into products that enterprises and small businesses already use. he has already raised $3 million in a round led by Kindred Ventures and Blank Ventures.

Focusing primarily on cross-border payments for merchants across Asia and the Middle East, NomuPay there is raised $37 million in financing at a $200 million valuation to expand its business.

Financial services firms the moodyhas Agree to acquire Cape analysisA geospatial AI startup, for an undisclosed sum

Clearwater AnalyticsThere is a company developing accounting, compliance, and risk reporting tools for asset managers Agree to acquire Investment management platform Infusion for $1.5 billion.

What else are we writing?

robinhood Agreed Forking out $45 million To settle a Securities and Exchange Commission investigation into multiple alleged violations, including one related to this 2021 hack.

As digital payments become a strategic asset, India is offering a template for other countries Want to reduce dependence on western payment networks Such as Visa and MasterCard.

growthIndia’s largest retail stockbroker, Hall Preparing to file an IPO Within 10 to 12 months, a valuation of between $6 billion and $8 billion is sought, sources familiar with the matter told TechCrunch.

High interest headlines

In HR Software News, the chestA Santiago, Chile-based human resources software provider, raised $50 million Series B round of funding at a valuation of approximately $850 million. From that up $417 million valuation It achieved this in 2021.

Based in Toronto on the ground has been acquired By fellow HR software company Employment HeroAustralian companies try to “get a foothold in Canada”.

The fintech giant plaid told TechCrunch it plans to do so Open an office in Raleigh, North Carolina. Headquartered in San Francisco, Plaid now employs over 1,000 people and has additional offices in New York; Washington, DC; London; and Amsterdam. A spokesperson told TC that “Raleigh is the next step in Plaid’s expansion of its footprint to meet growing demand for its technology as the financial services sector increasingly moves online.”

Thanks for reading and we’ll see you again next week!