GenZ Tea ☕️
Hey Tea Sippers,👋
Sorry for the long pause. We have been working to diligently to get the Sencha product ready for launch, soon. 😉 Don’t you worry though, we are back, and we are here to stay! In other news, we would like to say Happy Pride Month. In honor of Pride month we have one major news story: Banks are taking charge to help support and advocate for the LGBTQ community after they were cast away and shunned during Donald Trump’s Presidency. Look at ways banks are leading the way in LGBTQ reform by reading about it here.
Tea Pods ☕️:
In this week’s rendition of Tea Pods ☕️, we have Vlad Tenev, who is the CEO and founder of Robinhood, the famous stock trading app working hard to democratize stock trading for everyone. Here he talks about his efforts to gamify the stock trading experience and make it fun for every user to enjoy. It also gives a brief summary of his life and the build-up to what we now know as Robinhood!
Hope you enjoy it, cheers!
What’s the Tea Today? 🤔
Ready for this week’s tea?☕️ We are talking Marqueta’s recent IPO 📈, Nubank adding more money in the bank 💰, and Dave going big-time 🤩.
Anyways, short and big stories ahead, get your tea ready and start sipping. ☕️
Also, before you get reading, don't forget to join our waitlist! Thanks. 😝
Fintech is Booming 🚀
Marqueta 💳
What is it? Marqueta is the company that provides the card technology behind major corporations such as square, and tons of other banks. More fintechs are beginning to IPO as the demand has begun to surge. Marqueta is nowhere short from that curve.
Valuation. 12 Billion, which will be presented on the Nasdaq.
Share Price. Between $20 and $24 after their IPO.
Revenue. $290 Million gained which is 2x the amount they received in previous years.
After Covid-19, our society took a pause form shopping in person to shopping online. The only feasible way to shop online is by using your card, and this is what Marqueta is able to provide. Talk about good timing.
The Big Gulp ☕️: There are many companies already beginning to disrupt the fintech ecosystem, and Marqueta is one of them. They have risen an approximated 1.2 billion dollars, and are on track for major growth after their IPO. We are noticing that there is a societal shift away from brick and mortar stores, and the use of cash. Online shopping and mobile payments are being heavily utilized, and this is just the beginning…
The Biggest Digital Bank Ever 🏦
Nubank 💸
There’s a new man in town known by the name of: David Velez, and he is has started a new bank. (No pun intended) The bank is an effort to fix and revamp the whole Brazilian banking system as it stands today, and he leading the charge in Neobanks worldwide.
Raise. $750 million series G round.
Valuation. 30 billion, which has risen by 5 billion from January 2021.
Customers. They are currently at 40 million customers and are rapidly increasing as we speak.
The Big Gulp ☕️: We are seeing small banks become big banks, and this is not only confined to the US, but banks from other countries are being recognized worldwide. Nubank has taken the lead, and they have a good market they are targeting too. (The underserved and underbanked) As they have begun to grow rapidly they have spread their operations to other countries in South America such as Colombia and Mexico and they have seen their operations begin to grow worldwide. Watch out for new banks, and keep your eyes open for Nubank.
The Teddy Bear goes Viral 📈
Dave 🧸
Dave is your friendly banking app with the greatest mascot to ever exist, Dave. Dave helps prevent customers from receiving those harsh overdraft fees that old banks often force you to pay. Their recent merger proves to be one way they are hoping to innovate and maybe go public.
Backed. Dave is backed by billionaire business Mogul Mark Cuban, who believes in what they are doing.
Customers. 10 million and rapidly growing.
Valuation. If Dave decides to go public and merge, their valuation could be 30 billion dollars, sheesh.
The Big Gulp ☕️: Dave is friendly and nice and keeps you stress free, and now they want to be bigger. They are looking to merge with a blank check firm where they will then IPO. They are making big time moves, and are moving up in the finance sector, rapidly. Stay tuned with news from Dave within the upcoming months.
Extra Tea ☕️:
Trulio: The identity verification platform is now valued at $1.75 billion.
Scalable: A new fintech unicorn which has just raised $180 million.
El Salvador: El Salvador adopts bitcoin as a legal currency.
Capchase: Capchase raises $125 million from QED.
Sencha “Tea” Fact of the Day 🍃:
The Federal Reserve is missing 2/3 of the $100 bills they printed.
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Cheers! ☕️