Fintech Today - FTT Update: Real Estate Is Wild
Hi all, Julie here. Anyone on here a member of the Equinox in Austin? I just started teaching classes again and this weekend was my first time there. Hit me up if you’re a member! Would love to meet up and chat before/after I teach.
Otherwise, I just keep thinking about whether or not I should start looking at homes here in Austin. In case you haven’t been following, the market here is nuts. Like, we met someone that bought their house in December at $750K and are already getting offers for over $1M without renovations. I threw up a poll on Twitter to see what percent of people everyone thinks will actually stay here to decide on if I should try to wait it out. If I do wait, I’d still like to find ways to invest in real estate, and today’s partner Fundrise seems like a great option. More on them below.
Brex Funding and Product News
Brex has announced a $425M funding round led by Tiger Global at a $7.4B valuation as well as a new product. Also let me remind you, Brex was founded roughly 3 years ago… Anyways, along with the funding, the company announced a new product called Brex Premium. This new software will allow companies that use Brex to do better expense management, bill pay, and reimbursements in the near future. Some of the new features including paying an invoice by just forwarding an email to bills@brex.com, alerts on unnecessary spend or duplicate subscriptions (this sounds a lot like what Ramp has been doing, but I haven’t dived into the nitty gritty yet), reports that help managers better understand the business, and more.
Current Adds MrBeast
We’ve talked a fair amount about the creator economy and influencers on both this free newsletter as well as FTT+. This week, Current announced a big partnership with YouTube star MrBeast. From what I’ve seen, Current is by far the most active fintech when it comes to the influencer market. If you go to its website, they have a slew of photos of influencers that work with them, and when I talked to Adam Hadi, its VP of Marketing, he said the company works with hundreds of influencers each month (his episode of Tux Time will be out on Thursday). If you talk to other fintech companies, they likely work with a few, but nowhere near the kind of scale that Current has built up to. It’s obviously a big betn that seems to be paying off so far, but I’m super interested to see how this dynamic changes in the years to come.
Stripe and Lyft Change Employee Vesting
I will be the first to admit that I know very little about employee equity, vesting schedules, options etc. But, I will say that when this story about Stripe and Lyft speeding up equity payouts was posted in our Fintech Today Slack Community, there were a LOT of thoughts. Our community is all off record so I can’t say who said what, but one person pointed out that: “All that is happening is these companies are adopting a very common practice of only offering new equity grants of 1 year (and therefore appropriately sized for 1 year) and then offering yearly refreshes vs the standard 4 year grant. This solves the incentive alignment problem that happens at large public tech companies where people essentially rest and vest RSUs as stock accelerates in the market.” Some people on Twitter were saying this was a bad move for startups. That’s probably true for early to mid stage, but Lyft is public and Stripe should be public, so it’s a very different ball game. Would love to keep hearing more thoughts on this though if you have them!
Weav Announces Initial Funding
Super early fintech startup Weav announced $4.3M of funding with investors including Foundation Capital, Y Combinator, SV Angel, and angel investors such as the founders of Brex and our very own FTT Expert Charley Ma. The company is building embedded technology that is designed to give financial technology companies and others access to “real time, user-permissioned” commerce data that they can then use to create new financial products for small businesses. Basically, Weav provides fintech companies like Brex (who is a partner) with real-time insights into the business health of their customers. Think “Plaid, but for ecommerce data” as Charley explained to me.
Today's Partner, Fundrise
Diversify Your Portfolio
While public real estate has been readily available to investors for years, Fundrise’s private real estate investments offer significantly deeper diversification and outsized performance potential — a true alternative to any public market asset.
Since 2012, the Fundrise mission has been to build a better financial system by empowering the individual. They make it easier and more efficient than ever for anyone to invest in institutional-quality private real estate — with just a $500 minimum investment. To date, Fundrise has transacted on over $5.1B worth of real estate on behalf of more than 150,000 active investors. Rest assured that your money is working for you and start diversifying with Fundrise today!
(Here's all the legal jargon we know you love reading.)
Two great job postings today:
- Enterprise Sales (Financial Services) at Nova Credit: Nova Credit, which is focused on helping immigrants get access to credit, is looking for someone to join its stellar Go-To-Market team. With deep product and industry knowledge, these leaders are focused on bringing Nova Credit into an ever-broadening set of businesses. Within its Enterprise Sales team, you will play an essential role in building, unlocking, and winning its relationships with financial institutions - specifically, banking institutions, credit unions, and fintech lenders. You will be responsible for executing Nova Credit’s entire sales process, from initial prospecting, to direct client negotiations, through to contract execution, and ultimately transitioning accounts to its Solution Architects (for implementation) and Customer Success (for ongoing account management) teams. Your focus will be on developing & leading large, complex, new enterprise deals and building strong, high-stakes, trust-based relationships. And you'll help shape how it engages, designs, and builds products for the best brands in banking.
- Art Director, Capital at Square. Square Capital is looking for an experienced, inquisitive, and passionate Art Director to join its Banking creative team. You know how to get people excited about Square as a brand, and help them understand very simply and clearly how its Banking products work. You know how to take raw, complicated content and make it digestible and visually compelling. You have experience working on brand, digital product, data-driven growth marketing, and go-to-market campaigns alike. You will play an important role in the full-service Banking creative team, working with a range of disciplines including copy, design, technologist, research, and more. You’re curious, eager to experiment for ways to improve, and seek to create work that inspires others. If this sounds like you, apply above!
Julie VerHage-Greenberg is the co-founder of Fintech Today, where she focuses on editorial content and brand. Prior to joining, she was Bloomberg’s first fintech reporter, covering Robinhood from before it was a billion dollar company, breaking the news that Plaid was acquiring Quovo, and interviewing executives on Bloomberg TV and at several large conferences.
Thanks for reading! If you loved it, tell your friends to subscribe.
113 Cherry St #92768, Seattle, WA 98104-2205
Older messages
FTT Update: Wirecard Employees Did What?!
Friday, April 23, 2021
Hi all, Julie here. I had a great time participating in events for Public, Ladies Get Paid, Wharton Fintech, Treasury Prime, Collision and Barclays' Rise this week! Definitely ready to chill
FTTea with Cokie: Credit Card As A Service, Part One
Wednesday, April 21, 2021
Hi y'all, Cokie here. Today I'm fortunate enough to be joined by Matthew Goldman from Vertical Finance. He also has a newsletter called CardsFTW, which I strongly recommend. Matthew and I
FTT Update: Square Hiring For A New Product
Monday, April 19, 2021
Hi all, Julie here. Few things before we get to the news (and be sure to check out Career Corner today)... We want to know more about you! Partly to make sure our content is as relevant as possible
FTT Update: The Pastrami Must Be Amazing
Monday, April 19, 2021
Hi all, Julie here. Happy Friday! I feel like all of us have had long weeks and are ready for the weekend. My husband Jordan and I are finally settling into our new home in Austin. In fact, I'm
FTT Update: $COIN Goes Public
Wednesday, April 14, 2021
Hi everyone, Jordan here. Today is a special day for fintech and an even bigger day for crypto enthusiasts. Coinbase has gone public, the first major crypto exchange to do so. It's a day to
You Might Also Like
Banning the non-compete
Tuesday, April 23, 2024
Bloomberg Evening Briefing View in browser Bloomberg In a major victory for prospective employees looking down the barrel of a non-compete clause, the US Federal Trade Commission voted Tuesday to adopt
📉 Tesla's revenue couldn't steer itself
Tuesday, April 23, 2024
Finimize TOGETHER WITH Hi Reader, here's what you need to know for April 24th in 3:09 minutes. 🚎 If this newsletter makes your morning subway commute a little less hideous, take a look at our
Can you pass this basic retirement knowledge quiz?
Tuesday, April 23, 2024
Most adults won't ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
Sleep Training: "A Symptom Of Capitalism"?
Tuesday, April 23, 2024
The raging debate over how to juggle kids and work. View this email online Planet Money Happy To Be Back, But Drowsy by Greg Rosalsky Well, I'm back. After a lengthy parental leave, when
Buy The New TSLA Before It Skyrockets [Here's Our Recommendation]
Tuesday, April 23, 2024
The following is a third-party sponsored message. It should not be considered a recommendation or endorsement by HS Dent Publishing. Today, we ask one simple question: What if you could buy the next
Earnings bulls
Monday, April 22, 2024
Bloomberg Evening Briefing View in browser Bloomberg Robust earnings from corporate America will pull the S&P 500 Index out of its latest morass, despite rising concerns about a significant jump in
👀 Inside the weight-loss drug boom
Monday, April 22, 2024
Buyers saw money in music | Finance's best-kept secret let a little slip | Finimize TOGETHER WITH Hi Reader, here's what you need to know for April 23rd in 3:12 minutes. ☕️ Finimized over a
Who's Afraid of Index Funds?
Monday, April 22, 2024
Plus! Diff Jobs; The Market for Data; Crowded Careers; Black Boxes, Everywhere; Externalities; Intra-Elite Conflict Who's Afraid of Index Funds? By Byrne Hobart • 22 Apr 2024 View in browser View
Rodney's Take 4-22-24 Get Shorties
Monday, April 22, 2024
A Yen for Lower Rates ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
📓 A test for the US economy
Sunday, April 21, 2024
Plus, everything you need to know for the week ahead | Finimize Hi Reader. We've revamped your weekly briefing to give you what you need to know for the week ahead and a recap of the past week. Let