Equity Equity Monday: Fintech consolidation could be picking up
Feb 28, 2022
This week, geopolitical tensions and tech market shifts take center stage. The impact of Russia's war on both Ukraine and its startups is significant, affecting the wider financial landscape. Meanwhile, American conservatives take a swing at big tech, indicating changing political tides. In fintech, Weee! secures massive funding, and OneCard is poised for a large investment. Additionally, the buy now, pay later sector sees consolidation as Zip acquires Sezzle. Get ready for a whirlwind of insights on the evolving market!
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War's Impact on Tech
- The war in Ukraine is impacting the tech industry, particularly in Russia and Ukraine.
- Sanctions against Russia and the closure of its stock market have far-reaching consequences.
Republican Party vs. Big Tech
- The American Republican Party is criticizing big tech companies for having too much power.
- They are attempting to build a parallel internet with conservative-leaning companies like Truth Social and Rumble.
Weee!'s Funding Round
- Ethnic e-grocer Weee! raised $425 million in Series E funding, reaching a $4.1 billion valuation.
- SoftBank Vision Fund 2 led the round, indicating a potential return to larger investments.