Even unsexy industries can appeal to investors.

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Welcome to TechCrunch Fintech (formerly The Interchange)! This week, we look at how the closure of Africa's hottest fintech startup, Mint, benefited Copilot, and why venture capital is doubling down on one particular expense management startup.

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big story

Although venture funding in Africa (like the rest of the world) has been declining in recent years, last week was a good week for the region's fintech ecosystem. TC reporter Tage Kene-Okafor reported on how Uber led a $100 million investment in African mobility fintech. Move The startup's valuation reached $750 million.He also writes about how zone We raised $8.5 million to expand our decentralized payments infrastructure. And Annie Njanja reported on how payment companies in Tanzania work. Oak’s successful pivot to providing remittance services in 2021 also led to the creation of a B2B payments platform.

This week's analysis

Intuit decides to shut down budgeting app mint This led to startup opportunities in this field.Christine Hall writes about how co-pilot has grown more in the past four months than in the previous four years, and the startup was able to leverage that growth into a $6 million Series A round of funding led by Nico Wittenborn's Adjacent. TC previously reported on Copilot when it first launched with $250,000 in angel funding and again when it later added support for Apple Card. Monarch Money co-founder Ozzie Osman also told TechCrunch that Mint's loss is their gain.

dollars and cents

Even unsexy industries are attractive to investors.expense management startup coast pursues a business with so-called real-world field personnel and fleets to manage. Last year, it claims to have increased its revenue by 550% and raised an additional $25 million in equity funding.

digital bank onyx private We are shifting our focus to B2B. The YC-backed startup raised $4.1 million last year with the goal of serving high-income millennials and Gen Z. But last week, the company told customers it was suspending banking operations and closing their accounts.

swiss fintech Don't savehas raised $4 million in seed funding in an effort to make banking in Switzerland more accessible to people in countries with unstable banking sectors or facing high inflation.

what else are you writing?

Despite the recent growth in fintech, co-founder and CEO Eric Greiman said: lampbelieves the industry and companies like his have only scratched the surface. Griman recently told TechCrunch Found's podcast that despite how much his unicorn corporate card and expense reimbursement startup has grown so far, it's only tapped into 1% of its potential market share. . Fun fact: Lamp and Diehl turned 5 years old this week, just one day apart.

Amid widespread antitrust claims against apple The US Department of Justice has taken special aim at Apple's huge financial operations.

Other headlines of interest

An unexpected combination: Bolt and the Checkout.com team bring frictionless commerce to life

Rewards startup Fetch capitalizes on private credit boom, raises $50 million from Morgan Stanley

Wealthfront postpones IPO plans

Affirm Holdings Director Keith Lavoie sells $318,000 worth of stock

Cloud banking technology provider nCino acquires DocFox

Marco raises $12 million to support trade finance in Latin America

PayPal-backed NX Technologies raises $24 million to streamline car payments

Prize Pool receives cease and desist order from FDIC for false and misleading statements

DLocal appoints Pedro Arndt as CEO following Sebastian Canovic's retirement

Ryan Zauk joins OMERS Ventures as fintech investor

ICYMI: Klarna aims to take on Visa, Mastercard with open banking drive

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