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It looks like everyone and their mother is trying to reinvent the Brazilian banking system. Earlier this year we wrote about Nubank’s $400 million Series G, last month there was the PicPay IPO filing and today, alt.bank, a Brazilian neobank, announced a $5.5 million Series A led by Union Square Ventures (USV). It’s no secret that […]
Vanta Goes From Low-Profile Startup To $500 Million Valuation With $50 Million Sequoia Series A
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Vanta
Christina Cacioppo says she enjoyed the looks on investors’ faces when she opened the books on her software startup, Vanta.
In 2018, Cacioppo had taken Vanta through Y Combinator and raised $3 million in seed investment. Then she went dark, fueling her business, which provides security and compliance software to businesses, through its upfront sales. The company reached 600 customers without a proper website; today, it says it’s helped 1,000 with their SOC 2 compliance audits, passing $10 million in annual recurring revenue while reaching 65 employees.
“People still think we are off in some random corner, which is great,” Cacioppo recalls thinking. “Let them think that, while we get bigger than anyone thought we were.”
3D-printing technology provider Shapeways Inc is nearing a deal to go public through a merger with blank-check acquisition firm Galileo Acquisition Corp (GLEO.N) at a valuation of $410 million, including debt, according to people familiar with the matter.
Coinbase backer parlays âfantasyâ bet into billions
Jackie Davalos
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Before his bet on cryptocurrency exchange Coinbase Global became a multi-billion-dollar exit, Union Square Ventures co-founder Fred Wilson compared bitcoin to science fiction.
âWe may be completely wrong, it may be a fantasy,â he said at a marketing conference in May 2013. That was shortly after he had invested $US2.5 million ($3.2 million) in Coinbase, the USâs biggest cryptocurrency exchange, where people can buy and sell bitcoin and other digital tokens such as Ethereum and Litecoin.
Coinbase isnât Wilsonâs first foray into a nascent technology trend but itâs certainly the largest payout. His New York-based venture capital firm has invested in more than 100 businesses.Â