Equity cover image

Equity

A $700M SAFE, more IPOs, and how one venture fund is transcending borders

Mar 22, 2024
This podcast episode discusses a neobank's pivot to B2B, a climate incubator, and cross-border investing. They also cover Saudi Arabia's AI investment push, VCs holding back IPO rush, and Reddit's successful trading debut.
32:14

Podcast summary created with Snipd AI

Quick takeaways

  • In the podcast, the transition of Onyx from a consumer-focused neobank to a B2B model highlights the regulatory challenges faced by fintech startups aiming to serve community banks.
  • The discussion on VCs holding the reins on IPOs sheds light on the intricate power dynamics impacting late-stage companies' decisions to go public.

Deep dives

Onyx's Pivoting Strategy: From B2C to B2B

Onyx, a YC-backed company initially focused on digital bank services for high earning millennials and Gen Zers, announced a pivot from B2C to B2B model. Despite initial success, they faced regulatory issues prompting the shift. The move aims to provide banking solutions for community banks using their platform.

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