The Vienna-basse cryto fintech Bitpanda is launching a new financial product. With it, Bitpanda wants to counteract Europe's low-interest rate environment with its new product, "Bitpanda Cash Plus." It intends to enable investors to earn returns on their money via money market funds.
The Berlin-based fintech Cure Finance thought it had raised just under three million euros from an investor. That was at the beginning of this year. But the sum never arrived at the startup, as Finance Forward and Finanz-Szene report. The consequences are severe: the Berlin fintech is now forced to file for insolvency.
SoftBank Vision Fund, the prominent global investor in tech startups, reported a significant loss of $32 billion for the financial year ending in March. This represents a 70% increase in casualties compared to the previous year.
In 2024, Berlin-based Neobank finally wants to be in the black. To achieve this ambitious goal, costs must be reduced. Therefore, the fintech company of Austrian founders Maximilian Tayenthal and Valentin Stalf announced today that about 70 employees would have to leave, corresponding to about 4% of the workforce.
At the trading app nextmarkets, the sellout starts, followed by liquidation. Still, in 2021, the FinTech raised €30 million and had big plans. Investor FinLab refers to the "weakness in the financing market" concerning the planned end of nextmarkets.
At the beginning of January, the Hamburg-based fintech Ruuky filed for insolvency. At the last minute, a buyer for the startup has been found. A press release said that a strategic investor wants to continue and expand the fintech, which has developed a banking app for young people.
The economic crisis is hitting the fintech scene particularly hard and it's not stopping at Hamburg-based startup Tomorrow. The green bank has decided to make drastic staff cuts and terminated a quarter of its workforce on its way to profitability.