Mos evolves from fintech to challenger bank as early adopters embark on post-college life – TechCrunch


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Hello and welcome to Daily Crunch for Thursday, February 3, 2022! Today we have a few angles on the startup market. The gist is that there are some positive signs to digest, as well as some more cautionary data points. I think it fits in with a changing market, but not one that has settled on a new level of risk tolerance. What does that mean? Read more!

But before we get into the facts, don’t forget that Early Stage is coming (it’s going to be awesome!) Mary Ann’s fintech newsletter is coming. You can sign up for this. – Alex

The TechCrunch Top 3

  • Risk-on, risk-off: The fundraising game for startups is currently in full swing, with some investors putting capital to work in companies that have not yet fully formed as the public market takes a beating and profits disappoint. We have seen similar pluses and minuses in the crypto world, for example. The internet is that some investors seem to be turning back their appetite for expensive startup rounds, while others aren’t.
  • GM is investing in fast-charging battery startups: And for something else, US auto giant General Motors is betting on Soelect, which is “building fast-charging anode technologies that enable next-generation batteries for electric vehicles,” TechCrunch reports. It’s a good reminder that as the world shifts to electric cars, startups are closing the gaps in the market that traditional auto companies encounter.
  • Facebook’s user growth is turning negative: Few tech companies have ever reached the scale that Facebook’s “parent company” Meta has. But the never-ending growth story has entered a new chapter, with the company showing flat monthly active and slightly negative daily active user growth in the fourth quarter. The company’s earnings were far from popular with investors, who lowered the value of the company’s stock.


Today’s starting news has a few Tiger rounds, a headline on toilet paper, and more. But first is Natasha’s dive into Moss, which founder Amira Yahyaoui says is on track to become “the incumbent bank in the US.” The startup, which just raised $40 million, appears to link neobanking to student demographics and their idiosyncratic needs.

Sticking with the fintech theme, TechCrunch also has notes on Pluto, which is building a business spending giant for the Middle East, backed by some of the most interesting founders in its own market, and Jar’s round Tiger just led in India. Tiger also took a bite out of Bold, which just brought in a $55 million round to “enable digital payments” in the Latin American market. The lesson? The rise of Fintech is increasingly a global story, with some models tested in the United States finding resonance in new markets.

  • Ambulatory Phlebotomy: If you’re building a startup with blood right now, you need to convince the market that you’re not building a fraudulent testing service or that you want to sell teen juice to wealthy vampires. Anyway. Getlabs is building a service that sends a phlebotomist to your home, to bridge the gap between telehealth and IRL medication to some extent. It just raised $20 million and we suspect we want us to stop making Theranos jokes when we discuss the model.
  • Cameo builds NFT thingy: Cameo has a simple model: celebrities and other famous people join its service and customers buy short, personalized videos from them. It works, it’s popular and I think it’s a way for creators (especially musicians) to make a little more money than they otherwise would. So, of course, it’s building Cameo Pass, “an NFT-based community of Cameo talent and fans along with web3 enthusiasts,” we report. Certainly?
  • ICEYE raises an ice-cold $136 million round: ICEYE is a “synthetic radar imaging startup,” which satisfies my general sense that startups in space are the coolest companies out there. And it’s also cold in space, which makes the name of ICEYE perfect. It’s eyes in the sky, where it’s cold, maybe even freezing? Either way, taking pictures of Earth is a big one, and the company has raised more than $300 million to create an ever-expanding network of satellites.

And today in good headlines, hi drew the following: “Cash flush, bamboo-based toilet paper company Cloud Paper makes it rain.”

With a run rate of $22 billion, does it matter if Google Cloud is still losing money?

(GDD) China 2019 on September 10, 2019

Image Credits: Lyu Liang / VCG / Getty Images)

“You have to spend money to make money” is a cliché, but if you’re building a business that hopes to compete in the cloud, it’s a fact.

This week, Google Cloud reported $5.5 billion in revenue for the fourth quarter of 2021, but “that was the good news,” Ron Miller and Alex Wilhelm report.

“The bad news was that at the same time, Google Cloud suffered operating losses of $890 million.”

However, given the high stakes, industry watchers don’t seem too concerned about these lingering losses.

“Businesses of this nature require a lot of upfront investment and infrastructure building, and often they don’t move until several years later,” said John Dinsdale, principal analyst at Synergy Research.

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Big Tech Inc.

  • Google’s Betting on Shadow IT: I’m not sure how to investigate this, but Google is making changes to its Workplace (G Suite) portfolio of business productivity tools so that users can get started without central authority. Bottom-up sales, or a recipe for IT chaos? We will find out.
  • US Assembles Council to Improve Cyber ​​Resilience: TechCrunch reports that the US Department of Homeland Security has established a so-called “assessment council” that “will be tasked with investigating major national cybersecurity incidents” so the nation can take real steps toward its cyber sustainability. This is one of those “sounds good, but is it late” announcements.
  • Everyone wants to board the metaverse: Ever since Facebook hit its product midlife crisis and decided to go all-in on the metaverse, other apps have wanted similar magic. So they’re rebranding themselves with the tag, TechCrunch reports. How much this will help is not clear at this point.
  • And speaking of the metaverse, Mozilla is closing its VR browser.
  • Tesla recalls 817.00 cars: why? Faulty seat belt sounds. Hardware is difficult. Cars are more difficult. And building next-gen electric cars is difficult.

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