Helloooo and Happy New Year! Feels like it’s been a while since I sat down to write this newsletter. I’ve missed it!
Before I dive into the news, I wanted to say that I hope you all had a restful and fun holiday. Ours was super low-key but that’s not a bad thing. Still, I will admit it has taken a bit for my brain to switch back to work mode this week…so bear with me.
While I’m sure there were already many down rounds in 2022, Tung expects we’ll see even more in 2023 as startups that had raised in 2021 began to get low on cash. I agree with his view that there’s no shame in raising a down round. Valuations were overinflated and any down rounds that are announced this year are in most cases reflecting valuations that are more realistic and easier to defend.
While we’re not seeing many megarounds in the fintech space here in the U.S., TechCrunch’s Manish Singh reports that India saw two significant raises in the world of fintech in recent weeks:
Meanwhile, in South Korea, fintech Toss bumped its valuation up to a staggering $7 billion:
Other funding deals reported on the TC site include:
And, that’s a wrap. I’m not typically one for resolutions but I can say that I am trying to start this year off on a more upbeat note. Last year was challenging in a lot of ways, but it doesn’t help to be negative or doom and gloom. There is still so much good news and things to be grateful for. So, my wish for 2023 is more resilience and optimism for us all because while we can’t always control what happens, we can control how we react. Thanks again for reading, and for your support. I’m always here for your feedback! Until next week…xoxoxo Mary Ann
Does everyone want to be a landlord, or what? by Mary Ann Azevedo originally published on TechCrunch