Welcome to TechCrunch Fintech (previously The Interchange)! This week, we’re taking a look at Robinhood’s new Gold Card, challenges within the BaaS house and the way a tiny startup caught Stripe’s eye.

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The massive story

Robinhood took the wraps off its new Gold Card final week to a lot fanfare. It has a protracted checklist of spectacular options, together with 3% money again and the flexibility to take a position that money again through the corporate’s brokerage account. A person can even put that money again into Robinhood’s financial savings account, which provides 5% APY.  We’re curious to see how this new card will impression the corporate’s backside line. But additionally, we’re fascinated by how Robinhood integrated the know-how it acquired when shopping for startup X1 final summer time for $95 million and turned it right into a doubtlessly very profitable new providing.

Evaluation of the week

The banking-as-a-service (BaaS) house is dealing with challenges. BaaS startup Synctera not too long ago performed a restructuring that impacts about 15% of staff. The startup is just not the one VC-backed BaaS firm to have resorted to layoffs to protect money over the previous 12 months. Treasury Prime, Synapse and Determine have as properly. In the meantime, based on American Banker, the FDIC introduced consent orders in opposition to Sutton Financial institution and Piermont Financial institution, telling them “to maintain a better eye on their fintechs’ compliance with the Financial institution Secrecy Act and cash laundering guidelines.”

{Dollars} and cents

PayPal Ventures’ newest funding is in Qoala, an Indonesian startup that offers private insurance coverage merchandise protecting quite a lot of dangers, together with accidents and cellphone display harm. MassMutual Ventures additionally participated in Qoala’s new $47 million spherical of funding.

New Retirement, a Mill Valley–primarily based firm constructing software program to assist individuals create monetary retirement plans, has raised $20 million in a tranche of funding.

We final checked in on Zaver, a Swedish B2C buy-now-pay-later (BNPL) supplier in Europe, when it raised a $5 million funding spherical in 2021. The corporate has now closed a $10 million extension to its Collection A funding spherical, bringing its whole Collection A to $20 million.

What else we’re writing

Learn all about how a tiny four-person startup, Supaglue, caught Stripe’s eye. Supaglue, previously referred to as Supergrain, is an open supply developer platform for user-facing integrations. The staff goes to assist Stripe on real-time analytics and reporting throughout its platform and third-party apps for its Income and Finance Automation suite.

Maju Kuruvilla is now not CEO of one-click checkout firm Bolt. He’s changed by Justin Grooms, Bolt’s world head of gross sales, who’s now interim CEO. Kuruvilla, the previous Amazon government, took over as CEO in January 2022 after founder Ryan Breslow stepped down. The Info has extra about Bolt’s woes right here.

Excessive-interest headlines

Inside Mercury’s stumble from fintech hero to focus on of the feds

RealPage and Plaid staff to curb rental fraud

In HR software program battle, Rippling makes up floor in opposition to Deel — at a price 

Is Chime prepared for an IPO? It has extra main clients than Chase

Inside a CEO’s daring claims about her scorching fintech startup, which TC beforehand coated right here.

Cloverleaf raises $7.3M in Collection A extension

Abrigo acquires TPG Software program

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