Mary Ann Azevedo

Germany’s Munich Re has signed a definitive agreement to acquire digital insurance company Next Insurance for $2.6 billion, the firms announced on Thursday. Founded in 2016, Palo Alto-based Next Insurance is focused on providing insurance to small-to-medium-sized businesses. It was last valued at $2.5 billion in late 2023 when it raised $265 million. Next Insurance’s backers include Group 11, Allstate, Allianz X, Battery Ventures, Capital G, Redpoint Ventures, Nationwide, Amex Ventures, Ribbit Capital, and others.

The fintech segment, which saw massive growth during the pandemic and immediately after, had a fairly rough 2024, ending with the abrupt shutdown — and then unexpected acquisition — of accounting startup Bench. Though the rapid pace of funding has slowed, some fintechs are continuing to see growth and expand their teams. In an effort to better understand just how many fintechs might fit into this category, I put out a call last year asking

Worth, a company focused on helping fintechs, banks, and enterprises underwrite small and medium-sized businesses more easily, has raised $20 million in a seed funding round, the startup tells TechCrunch exclusively. It’s a large seed round, especially these days when capital is harder to come by. But the founders’ history may have something to do with that. Sal Rehmetullah and Suneera Madhani, who are siblings, also founded another fintech company, Stax Payments. They exited that

Ryan Breslow is once again the CEO of Bolt, the fintech company told TechCrunch on Wednesday. Bolt shared a communication that recently went out to investors in which Breslow wrote that “following a challenging few years,” he had been reinstated as Bolt’s CEO with “unanimous approval” of the board of the one-click checkout company. Justin Grooms, who has served as interim CEO since last March, will now serve as president of Bolt. Grooms, the company’s

Fintech startup Ramp has crossed $700 million in annualized revenue as of January of this year, according to a source familiar with the company’s internal operations. The company had crossed $100 million in annualized revenue before its third birthday in March 2022, passed $300 million by August 2023, and now effectively more than doubled that in less than 18 months.  While Ramp has not formally released its revenue numbers, CEO and co-founder Eric Glyman told TechCrunch

Expense management startup Ramp has nearly doubled its valuation to $13 billion after a $150 million secondary share sale, the company announced Monday morning. New and existing backers including VC Stripes, GIC, Avenir Growth, Thrive Capital, Khosla Ventures, General Catalyst, Lux Capital, 137 Ventures, and Definition Capital bought the secondaries from employees and early investors. It’s a massive bump in valuation for fintech startup, which was valued at $7.65 billion last April when it raised