Disrupt is around the corner — Here are the fintech players taking the stage | TechCrunch (2024)

In this week’s edition of The Interchange, we touch on the resilience of BaaS in a sometimes messy fintech space, earnings highlights, and much more. If you want to receive this in your inbox every Sunday, sign up here.

It’s hard to believe it but TechCrunch Disrupt — only one of the most engaging, fun, well-attended startup events in the world — is around the corner, taking place September 19–21! Here’s a sneak peek at how it all comes about.

We are particularly excited this year because we have our very own Fintech Stage! This is a first. Outsiders may not realize just how much work goes into planning Disrupt. We start the process as early as January, brainstorming topics for panels and fireside chats and then working to find industry experts to hop onstage with us.

While we’re not completely done programming the stage, we have most of it figured out and are so excited, we just have to share it with you!

We’ll be hosting firesides with the likes of Plaid CEO and co-founder Zach Perret, Checkout.com president Céline Dufétel, Robinhood CEO and co-founder Vladimir Tenev and Andreessen Horowitz’s Arianna Simpson. Venture capitalists such as Index Ventures’ Mark Fiorentino, Flourish Ventures’ Emmalyn Shaw and Cowboy Ventures’ Jillian Williams will talk about how fintech investing is not for the faint of heart.

Discussing the topic of banking in a post-SVB world, we’ll have Mercury’s Immad Akhund onstage with JPMorgan Chase’s Melissa Smith and Piermont Bank’s Wendy Cai-Lee. And joining us on the subject of making money move with embedded finance are Synctera’s Peter Hazlehurst, Alloy’s Laura Spiekerman and Unit’s Amanda Swoverland.

Not to mention you’ll be able to catch all our awesome podcasts — including Equity, Chain Reaction and Found — live, and have the opportunity to connect with startups and investors from all over the world.

Last year was our first time attending Disrupt in person and the energy was on fire! There were over 10,000 attendees gathered at Moscone Center in San Francisco, and the networking opportunities are unparalleled. Come join us, and be sure to use the Code Word “Interchange” to get a 15% discount on your tickets.

Hope to see you there! — Mary Ann and Christine

Weekly news

In we-can’t-believe-this-is-actually-happening news, digital mortgage lender Better.com’s proposal to combine with Aurora Acquisition Corp. via a SPAC (special purpose acquisition) was approved by shareholders. According to a Securities and Exchange Commission (SEC)filing, Better.com will combine with Aurora, or go public, “on or about August 22, 2023.” Better.com hadoriginally beganmaking plans to go publicvia a $6 billion SPAC in May 2021. Things took a dramatic turn for the worse later that year, and theSPAC was delayed more than once. Mary Ann digs in further here.

Amid the layoffs, M&A and regulatory struggles within banking-as-a-service, I spoke to a number of experts to help make some sense of what’s going on in this sector and if BaaS is an outlier to the fintech mess. Check it out — you’ll need a TechCrunch+ subscription, but it’s worth it!

Aisha Malik reported that with the addition of Alaska, Instacart is now accepting EBT SNAP payments in all 50 states. The grocery delivery company started working on this nearly a year ago after it began accepting Electronic Benefits Transfer (EBT) for the Supplemental Nutrition Assistance Program in 2020. Read more.

Earlier this summer, Mary Ann sat down with Marie-Elise Droga, SVP and head of global and NA fintech partnerships at Visa.In that interview, which TechCrunch published last week, Droga described the payment giant’s fintech partnership practice as “the growth engine of the organization.” More details on that and what else they discussed here.

Insurance technology startups have a new place to pitch: American Family Ventures announced its AFV Fund IV with $444 million in capital commitments to invest in early-stage startups innovating insurance as well as risk management in the areas of proptech, artificial intelligence and enterprise software. Dan Reed, managing director, said in a statement: “Insurtech is going through its latest inflection point, and at American Family Ventures, we believe this is a time to be bold. Opportunities and returns will be unevenly distributed in favor of those who move. To us, Fund IV is a tool for moving LPs and startups forward into the next phase of the industry’s transformation.” Read more.

ICYMI: As reported by PaymentsDive, Stripe announced on August 3 that Steffan Tomlinson will take over as the company’s CFO in September. Specifically, the publication reported: “Tomlinson, who currently serves as CFO of software provider Confluent, is headed to Stripe with two decades of corporate finance experience at startups and Fortune 25 companies across the technology landscape. . . . Besides Confluent, he has also worked for tech titan Google....Tomlinson will succeed former Stripe CFO Dhivya Suryadevara, who announced earlier this year that she was stepping down ‘to attend to family matters.’”

Adding your child to your credit card account is a practice of trust and patience. I have one on my account, so I know of what I write. Greenlight Financial Technology has always been about parents and children working together to help learn about our financial system, and the company’s newest offering is some of the same. Its Greenlight Family Cash Mastercard is a departure from the typical debit card most companies offer to teens. This isn’t a card that you give to your kids and set them loose; it’s a credit card that parents get and add their children to the account so that everyone can build their credit together. And get 3% cash back on all purchases. Get the scoop. — Christine


A number of fintech companies released earnings in recent weeks. Here are some highlights:

  • PayPal, which rolled out a stablecoin this week, beat analysts’ estimates as revenue grew to $7.29 billion in the second quarter, up from $6.81 billion during the same period in 2022. The company also turned its net loss from last year into a profit. However, analysts didn’t like what happened to PayPal’s lower operating margins, and that news sent shares of PayPal into an 80% decline from the stock’s all-time high, according to The Motley Fool.
  • Marqeta reported a 24% year-over-year increase to $231 million in net revenue for the second quarter, though its net loss widened to $58.7 million, up from $44.6 million. In addition, the card-issuing platform extended its partnership with Block’s Cash App through 2027. Read aboutMarqueta’s Power Finance acquisition from earlier this year.
  • Former Snap Inc. chief strategy officer Imran Khan has acquired a 2.5% stake in Dave Inc. The neobank also announced its GAAP revenue in the second quarter was up 34% to $61.2 million and that non-GAAP variable profit climbed to $32.9 million, which, according to Dave, represented “a 53% margin relative to our non-GAAP revenue compared to 39% margin a year ago.” Meanwhile, the company said its delinquency rates remained low — at 2.83%. Read TechCrunch’s Q&A with founder Jason Wilk from earlier this year here.
  • Flywire said it had a good quarter, signing on over 165 new clients during the three-month period and overall exceeding analysts’ expectations. Meanwhile, revenue was up 50.3% to $84.9 million while gross profit jumped to $48.8 million, resulting in a gross margin of 57.5%. The company also partnered with Tencent Financial Technology, Tencent’s fintech arm, to extend Weixin Pay (also known as WeChat Pay) as a payment option for Chinese students and families making tuition payments abroad.

Other news on our radar:

Bud Financial launches Bud.ai, a generative AI platform for hyper-personalized banking

Zirtue protects loan customers against unexpected circ*mstances with TruStage payment guard solution

WeWork goes from $47B valuation to ‘substantial doubts’ about its future (Not fintech, but hey, still interesting!)

Fundings and M&A

As seen on TechCrunch

Chargeflow, which taps AI to fight chargebacks, raises $14M

Identity management platform Veza secures $15M from Capital One and ServiceNow

Seen elsewhere

IVIX closes $12.5M Series A led by Insight Partners to combat financial crimes

Educbank raises $14.2M to drive financial innovation in Brazilian education

Proptech consolidation: RentRedi Expands With Acquisition of eRentPayment and PaymentReport and LeaseQuery expands into SaaS management in Stackshine buy

Resilience raises $100M in Series D funding

ICYMI: Petal raises $200M debt facility to expand access to credit

Join us at TechCrunch Disrupt 2023 in San Francisco this September as we explore the impact of fintech on our world today. New this year, we will have a whole day dedicated to all things fintech, featuring some of today’s leading fintech figures. Save up to $400 when you buy your pass now through September 18, and save 15% on top of that with promo code INTERCHANGE. Learn more.

Disrupt is around the corner — Here are the fintech players taking the stage | TechCrunch (1)

Image Credits: Bryce Durbin

Disrupt is around the corner — Here are the fintech players taking the stage | TechCrunch (2024)


Who attends TechCrunch Disrupt? ›

Disrupt brings together thousands of founders, investors, developers, technologists, and business people who are interested in the startup and technology world.

Where is TechCrunch Disrupt 2023? ›

Image of Where is TechCrunch Disrupt 2023?
The George R. Moscone Convention Center, popularly known as the Moscone Center, is the largest convention and exhibition complex in San Francisco, California, United States. The complex consists of three main halls spread out across three blocks and 87 acres in the South of Market neighborhood.

Is TechCrunch disrupt real? ›

Starting in New York City in 2010,TechCrunch hosts an annual tech conference, TechCrunch Disrupt, in several cities in the United States and Europe.

Who founded TechCrunch? ›

Michael Arrington (born March 13, 1970) is the American founder and former co-editor of TechCrunch, a blog covering the Silicon Valley technology start-up communities and the wider technology field in America and elsewhere.

How much is the ticket for TechCrunch Disrupt 2023? ›

Non-Profit Pass|$275.

How many startup tech companies fail? ›

What Percentage of Startups Fail? According to the latest data, up to 90% of startups fail. Across almost all industries, the average failure rate for year one is 10% However, in years two through five, a staggering 70% of new businesses will fail.

What is the #1 mistake startups can make? ›

The biggest mistake that startups make is scaling without having the proper growth strategy and allotted resources in place. “The biggest mistake a startup can make is not properly managing the growth,” explains Daniel Javor of Step By Step Business. “All parts of the business have to grow, not just sales.

What is the biggest mistake tech startups tend to make? ›

Hiring the wrong people

The biggest mistake that tech startups make is hiring the wrong people. The problem is that most startups are founded by people who are not experienced in hiring. They don't know what they're looking for, and they don't have the time or resources to find the right people.

Are tech startups risky? ›

Working for a startup can involve a lot of risk, that's no secret; according to the Wall Street Journal, three out of every four startups fail. In fact, there are startups funerals in Silicon Valley where CEOs can highlight the demise of their defunct companies and ruminate on any mistakes made.

What is the ranking of TechCrunch? ›

techcrunch.com Ranking

Website ranking helps evaluate the value of a business. Over the last three months, techcrunch.com's global ranking has increased from 6,019 to 6,628.

What happened to Michael Arrington? ›

But In 2017, Arrington announced that he was shifting gears and becoming a full-time crypto investor, and despite a volatile ride since, he isn't looking back, seemingly. As he said during an interview late last week from his new home in Miami, “I like reinventing myself and I think more people should do that.”

What is the readership of TechCrunch? ›

Precisely, TechCrunch has 17.27 million monthly unique visitors (Src) and estimated to bag $22.5 million in revenue last year (Src). The total monthly impressions of TechCrunch is 33.84M and 100+ people are working for the media outlet.

What is disrupt conference? ›

Disrupt — the original startup conference — stays fresh, relevant and focused on founders, investors, and the future of tech year after year.

What is the purpose of TechCrunch? ›

TechCrunch, founded on June 11, 2005, is a news website dedicated to the tech scene. We provide breaking technology news, opinions, and analysis on tech companies from around the world.

How do you get listed on TechCrunch? ›

How do I get my startup featured on Mashable or TechCrunch?
  1. Target. Start by hand picking a select few websites that you want to be featured on. ...
  2. Find a Contact. Mashable, TechCrunch and the rest all have generic story submission forms. ...
  3. Keep it Short. ...
  4. Don't be boring. ...
  5. Provide Links (make sure they work) ...
  6. Be Human.

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