At Uber, Gurjit Pannu remembers moving billions in cash across bank accounts globally, realizing almost immediately the importance of effective cash flow management. Christian Sobkowski, meanwhile, recalls his days working in financial services, most notably at PayPal, where helped expand the company’s business across Europe. It’s no wonder then, that the two decided to come […]
PayPal could challenge Apple Wallet in the EU
PayPal is poised to take advantage of the iPhone’s newly opened-up NFC capabilities by developing a mobile wallet of its own for EU users. Earlier this month, Apple announced it would allow third-party developers to access new NFC (near-field communications) and Secure Element APIs, which today power contactless transactions and payments — like those enabled […]
PayPal backs Indonesian insurance startup Qoala in $47M funding
PayPal Ventures’ latest investment is in an Indonesian startup that provides personal insurance products covering a variety of risks, including accidents, phone screen damage, and ticket cancellations. Qoala has secured $ 47 million in a new round co-led by PayPal Ventures and MassMutual Ventures, the five-year-old startup said Wednesday. MUFG Innovation Partners, Omidyar Network as […]
PayPal Ventures’ first AI investment, a credit-based dating app and Robinhood’s good week
Welcome to TechCrunch Fintech (formerly The Interchange)! This week, we’re looking at a new finance-based dating app, Robinhood’s earnings results and the startup in which PayPal Ventures made its first investment. Let’s dive in! To get a roundup of TechCrunch’s biggest and most important fintech stories delivered to your inbox every Sunday at 7:30 a.m. […]
PayPal begins more layoffs
PayPal has begun company-wide layoffs, according to multiple reports, including an article published by The Information. It is not yet clear how many people will be affected by the job cuts but one source told TechCrunch it was expected to be in the “thousands.” TechCrunch has reached out to PayPal and will update this story […]