SPONSORED BY SPINWHEEL

Reduce friction in your lending application with just two fields—phone number and birthdate. Spinwheel’s APIs boost application rates by 20-30% while also providing real-time credit data and seamless payment processing. Want to see it in action? Connect with their Head of Growth for a demo!

Fintech Plaid Is Said to Tap Goldman Sachs for Share Sale

Plaid, the fintech firm that connects startups with traditional banks, is working with Goldman Sachs on a share sale that could raise between $300 million and $400 million. The tender offer would allow early investors and employees to cash out some of their stakes, especially as restricted share units expire. While Plaid was valued at $13.4 billion in 2021, its current valuation is expected to be lower, reflecting broader fintech market trends. The company, which has expanded into identity verification and credit products, saw revenue climb over 25% last year and is eyeing an IPO in the next couple of years. [Bloomberg]

Stripe in Talks for Staff Share Sales at $85 Billion-Plus Value

Stripe is in talks to let employees sell shares at an $85 billion valuation, up from $70 billion last year but still below its 2021 peak of $95 billion. The deal, still being negotiated, would give early employees and investors a chance to cash out while boosting the company’s perceived value. Despite recent layoffs of 300 workers, the payments giant plans to expand its workforce to 10,000 by year’s end. Stripe remains a top IPO contender but insists it’s in no hurry to go public. [Bloomberg]

Affirm Active Consumers Leap 23% as BNPL’s Momentum Continues

Affirm, the buy-now, pay-later (BNPL) firm, reported strong Q2 results as active consumers jumped to 21 million, fueled by a 35% GMV increase to $10.1 billion and a strong holiday shopping season. Revenue surged 47% to $866 million, while transactions per consumer climbed 22% to 5.3. The Affirm Card continued its rapid growth, with GMV up 113% and active users soaring 136% to 1.7 million. CEO Max Levchin reaffirmed the company’s goal of turning operating income positive within five months, as investors pushed shares up 12.8% in after-hours trading. [PYMNTS] [Affirm]

We need to imagine a future of collaborative bank-fintech partnerships
by Nigel Morris Co-Founder and Managing Partner, QED Investors

Nigel Morris, co-founder of QED Investors, argues that banks and fintechs should embrace long-term partnerships instead of operating in silos. He compares their potential collaboration to Big Pharma’s reliance on contract research organizations (CROs), where each side plays to its strengths—banks bring trust, deposits, and regulatory expertise, while fintechs offer agility, innovation, and user-friendly tech. Instead of acquiring fintechs, banks could strategically partner with them to modernize operations, improve customer experience, and navigate regulatory complexities. With the fintech landscape evolving rapidly, Morris suggests that banks should seize the opportunity to collaborate rather than compete. [American Banker]

Fintech Klarna targets US IPO in April

Klarna, the Swedish buy-now, pay-later fintech, is aiming for a US IPO in April with a valuation of up to $15 billion, potentially making it one of the biggest listings of the year. The company, which offers short-term interest-free loans at retailer checkouts, has been cutting costs, offloading loans, and betting on AI to streamline operations ahead of its market debut. After a dramatic valuation drop from $46 billion in 2021 to $6.7 billion in 2022, Klarna has narrowed its losses and appears on track for profitability. The IPO would mark a major milestone in its turnaround and ongoing US expansion. [Financial Times]

FICO Announces Earnings.
Revenue of $440 million vs. $382 million in the prior year.
Card, Personal Loan, and Other Originations revenues down 3% vs. Q1 24.

FICO, the analytics software company known for its credit scoring solutions, reported a strong Q1 fiscal 2025 with revenue up 15% year-over-year to $440 million. Net income climbed to $152.5 million ($6.14 per share), up from $121.1 million ($4.80 per share) last year. Its Scores segment generated $235.7 million, a 23% increase, with B2B revenue soaring 30% due to higher unit prices and increased mortgage originations, while B2C revenue edged up 3%, driven by indirect channel partners. FICO reaffirmed its full-year guidance, projecting continued double-digit growth in both revenue and earnings. [Business Wire] [FICO]

Mastercard Expands Fintech Accelerator

Mastercard is expanding its Start Path New Networks fintech accelerator, bringing in eight startups focused on open banking, embedded finance, AI-driven lending, and fraud prevention. The program, which has supported over 450 startups across 60 countries, helps early-stage fintechs scale through Mastercard’s network. The new cohort includes Aazzur, Astrada, Carrington Labs, FairPlay, FutureBank, Impactica, Ozone API, and Trudenty, each tackling challenges like financial inclusion, credit assessment, and fraud detection. This move underscores Mastercard’s push into data-driven financial services, as it bets on open banking and AI to shape the future of finance. [Mastercard]

Highnote Announces Fasten Rewards Partnership to Launch Consumer Credit Card Rewards Program

Highnote, an embedded finance company specializing in modern card platform management, has partnered with Fasten Rewards to launch a new consumer credit card program aimed at strengthening dealership loyalty. The Fasten Rewards Visa Card lets customers earn 3x points on dealership services, fuel, and tolls, 2x points on auto loan, lease, and insurance payments, and 1x points on other purchases—redeemable for dealership services, Amazon gift cards, or statement credits. Highnote’s platform powers the card’s underwriting, credit bureau reporting, and account servicing, helping Fasten drive engagement and sales for dealerships. The program rolls out nationwide in 2025. [Business Wire]

Subscribe today to ensure you don’t miss our exclusive content like our interview with Rich. It’s free!

Marketing Communications Director at Highnote

Comp: $160,000-$220,000

As the Marketing Communications Director you will be responsible for growing our brand awareness and help to establish Highnote as the undisputed leader in modern card issuing and acquiring. This role is a blend of strategy and execution, with a focus on building a strong, consistent brand identity and clear value proposition across earned and social media, with partners, employees and subscribers and executing a steady drumbeat of messages in the market. The ideal candidate is scrappy and disciplined and will craft and execute initiatives that build brand equity, drive customer engagement and advocacy and turn Highnote into a household name in payments.