Carta’s missteps and real estate fintech’s up-and-down week

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Welcome to TechCrunch Fintech (previously The Interchange)! On this version, I’m going to have a look at some hits and misses in the actual property fintech area, Carta’s missteps (once more), and extra!

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The massive story

Fairness administration platform Carta was within the information . . . once more. And never for good causes. Once more. A outstanding buyer accused Carta of misusing delicate info that startups entrust to the corporate in pursuit of its personal targets. The declare raised wider questions on how Carta operates, at the same time as Carta argued the incident was remoted, and led to the corporate shutting down its secondary buying and selling operations. So what occurs to Carta now? Rebecca Szkutak does a deep dive. In the meantime, Alex and Anna argued that Carta’s development story is being overshadowed by its stock trading snafu.

Evaluation of the week

The actual property fintech area continues to have its ups and downs. We began the week by reporting on the information that Right here, a fractional short-term vacation rental marketplace we first reported on in 2022, had shut down its funding platform after simply over two years of operation. The corporate claimed that it’s nonetheless alive, however we’re unsure precisely what’s left. Even if so many corporations within the trade have struggled or shut down, buyers aren’t giving up on it.

I additionally reported this week on Downpayments’ mission to assist buyers buy new properties with interest-free down funds.

Lastly, we checked out Overmoon, which additionally has a singular mannequin that may be a hybrid of Airbnb and lodges — however with the very best of each worlds. Hearken to the Fairness crew focus on Overmoon extra right here:

{Dollars} and cents

Latin American startups proceed to draw enterprise {dollars}. We reported on two raises out of the area:

Conta Simples grabs another $41.5M for its expense management approach in Brazil

Prometeo raises $13M from PayPal, Samsung and more to bring open banking to Latin America

In the meantime, in Africa, YC-backed African fintech Cleva, founded by Stripe and AWS alums, raises $1.5M pre-seed

And, right here within the U.S., Pier banks $2.4M to launch ‘Stripe for credit’

What else we’re writing

Deal Dive: A Stripe secondary deal worth paying attention to: There apparently has been a flurry of consumers seeking to get shares within the firm in latest months.

Arc wants to make venture debt popular again: Arc is taking over the $30 billion enterprise debt trade with a brand new market for startups.

GenAI could make KYC effectively useless: There’s no proof that GenAI instruments have been used to idiot an actual “know your buyer” system — but. However some comparatively convincing deepfaked ID photos are trigger for alarm.

Scoop: Treasure Financial lays off staff just months after reporting ‘explosive growth’: The layoffs affected some 60% to 70% of the corporate.