Welcome to TechCrunch Fintech (previously The Interchange)! This week, we’re trying on the piping scorching international payroll house, neobank Dave’s monetary outcomes and associated inventory increase, and extra!

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The large story

This week alone, we lined three fascinating offers within the international payroll house. For starters, Deel introduced it’s buying African-based payroll and HR software program and providers firm PaySpace in its largest acquisition so far. It additionally mentioned it’s crossed $500 million in annual recurring income (ARR). Then I wrote about Remofirst, a startup out to tackle the likes of Deel and Rippling, too, securing $25 million in Sequence A funding. Additionally, Tage wrote about how UAE-based RemotePass introduced it had raised $5.5 million in Sequence A funding led by Istanbul-based 212 VC. There’s no query that this house is scorching, scorching, scorching.

Hearken to Alex Wilhelm and I speak extra about it on Fairness:

Evaluation of the week

We’re taking a look at one other fintech recording constructive monetary outcomes. Neobank Dave instructed us by way of e-mail that it had achieved profitability for the primary time as a public firm, notching adjusted EBITDA of $10 million within the fourth quarter and GAAP internet revenue of $200,000. The corporate additionally beat steerage for the 2023 fiscal 12 months and reported a 26% improve in non-GAAP working income with a giant increase from its ExtraCash providing. Its inventory skyrocketed on the information — beginning the week opening on March 4 at $22.46, reaching a brand new 52-week-high of $43.99 on March 7, earlier than closing at $36 on March 8.

{Dollars} and cents

Two-year-old Colombian funds startup Yuno has reached a $150 million valuation with $25 million in Sequence A funding from traders similar to DST International Companions, Tiger and a16z.

London-based challenger financial institution Monzo raised a late-stage funding spherical of $430 million at a post-money valuation of $5 billion.

Paris-based enterprise banking startup Qonto is utilizing an undisclosed portion of its money reserve to purchase Regate, an accounting and monetary automation platform.

Harness Wealth has expanded into the tax advisory house and raised a $17 million extension to its Sequence A spherical.

The Artemis Fund, which invests in underrepresented founders in fintech, commerce and care, closed on its second fund with $36 million in capital commitments.

What else we’re writing

Apple’s iOS 17.4 replace is primarily about adapting iOS to the EU’s Digital Markets Act regulation. However the firm has additionally launched a brand new API referred to as FinanceKit that lets builders fetch transactions and steadiness data from Apple Card, Apple Money and Financial savings with Apple.

Georgina Merhom desires to squash the established order with SOLO, a first-party knowledge assortment and reporting engine that integrates user-permissioned knowledge sources, together with monetary transactions, on-line information and digital footprints to inform a extra full story about somebody’s monetary conduct.

PayPal introduced that it’s launching “Faucet to Pay” for retailers with an iPhone by way of the Venmo and Zettle apps within the U.S.

Excessive-interest headlines

Capstack Applied sciences receives strategic funding from Citi Ventures (TC lined Capstack right here.)

Argyle raises $30M to increase automated revenue, employment verification

Synctera raises $18.6M in Sequence A-1 funding (TC lined Synctera’s Sequence A right here.)

The most recent fintech retreat: a $2B challenger to Western Union suspends U.S. providers

Treasury Prime has laid off half its workers (TechCrunch lined its $40M elevate in February 2023.)

Brazilian fintech CloudWalk pronounces $320.5M income, plans U.S. enlargement 

TomoCredit is pivoting into B2B with TomoScore, after a variety of reported woes

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