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Fintech, EdTech, and Software-as-a-Service (SaaS) Industries Show No Signs of Declining in Popularity

February 7, 2024

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Hello, and welcome back to Equity, the podcast about the business of startups, where we unpack the numbers and nuance behind the headlines. This is our startup-focused Wednesday episode, so we’re taking a deep look at a number of startup fundraisings, and the latest from the world of venture capital itself.

Startups and Capital: Our Jam

We’ll be diving into several key topics today:

  • Goodshuffle’s $5 million raise shows that vertical SaaS is still thriving.
  • SUMA Wealth’s $2.2 million investment in its own accounts indicates that audience-tuned fintech products are resonating with users.
  • A crypto startup showing impressive consumer traction.
  • Bluesky’s rapid growth and Blush’s $7 million raise for its dating app.
  • More rounds, including Finally’s $10 million close and Klas’ $1 million edtech effort.

Vertical SaaS is Not Dead

First up, Goodshuffle, a vertical SaaS company, raised $5 million. This news flies in the face of industry chatter that suggests software valuations are under strain. However, Goodshuffle’s success shows that there is still room for growth and innovation in the space.

Audience-Tuned Fintech Products Still Have Legs

Next up, SUMA Wealth, a fintech startup focused on Latinx users, raised $2.2 million from its own accounts. This funding round indicates that SUMA’s audience-tuned approach is resonating with its target demographic.

Crypto Startup Shows Impressive Consumer Traction

Meanwhile, a crypto startup (name withheld) is showing significant consumer traction. While the details are not publicly available at this time, it’s clear that this company is making waves in the space.

Bluesky and Blush: Rapid Growth and Funding

On the social media side, Bluesky, an invite-only platform from Jack Dorsey’s team, has opened up to everyone and is growing quickly. This news comes on the heels of a $7 million raise for Blush, a dating app that continues to keep its user base small and exclusive.

More Rounds: Finally and Klas

Finally, we have Finally, an edtech company that closed a $10 million round. Additionally, Klas, another edtech startup, put together a $1 million effort for its initiatives.

Episode 1 of Equity

Before we wrap up this episode, we wanted to take a moment to discuss the latest news from Episode 1’s early-stage U.K. fund.

For More Information and Transcripts

For more information on today’s topics and episode transcripts, head over to Equity’s Simplecast website.

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Alex Wilhelm was a senior reporter for TechCrunch, covering the markets, venture capital, and startups. He was also the founding host of TechCrunch’s Webby Award-winning podcast Equity.

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