FINTECH UNDER FIRE: PAYONEER’S $61 MILLION LAND GRAB, ROBINHOOD’S SHENANIGANS, AND THE FUTURE OF PAYMENTS
Welcome to the wild world of fintech, where the big players are always looking to make a splash. This week, we’re diving into the latest shenanigans, from Payoneer’s $61 million acquisition of Skuad to Robinhood’s questionable quarterly results.
PAYONEER’S PAYDAY
Payoneer, the publicly traded fintech, has made a bold move by acquiring Singaporean startup Skuad for a whopping $61 million. But what’s behind this sudden move? Is Payoneer trying to muscle in on Skuad’s payroll and contract management products, or is this just a desperate attempt to stay relevant in a crowded market? We explore the motives behind this deal and what it means for the future of fintech.
ROBINHOOD’S ROUGH QUARTER
Robinhood, the popular fintech app, has just released its second-quarter results, and they’re not looking good. Despite beating earnings expectations, the company’s revenue has taken a hit, and its CAC (customer acquisition cost) is through the roof. Is Robinhood’s business model unsustainable, or is this just a minor blip on the radar? We dissect the numbers and try to make sense of Robinhood’s tumultuous quarter.
X’S PAYMENTS PLAN
X (formerly Twitter), the social media giant, is making waves in the fintech world with its new payments system. According to app researcher Nima Owji, the company is working on adding a "Payments" button to its navigation bar, which could potentially revolutionize the way we think about transactions. But what’s the holdup, and when can we expect to see this feature rolled out? We explore the possibilities and implications of X’s payments plan.
HIGH-INTEREST HEADLINES
And that’s not all! This week, we’re also covering:
- Octane, the US fintech, raises $50m Series E funding led by Valar Ventures
- Mexico fintech Stori raises $212m in equity and debt
- Greenlight and Google team up on Fitbit-focused financial education
- Robinhood enlists ex-Cruise and Lyft exec Jeff Pinner as chief technology officer
Stay tuned for more fintech news, analysis, and controversy. And if you’ve got a tip or a scoop, don’t hesitate to reach out!
