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Startup lessons in the failure of Bench Accounting

CFO Share

Despite securing over $100 million in venture capital and employing over 600 individuals, Bench abruptly and inexplicably ceased operations on December 27, 2024, leaving thousands of small business clients scrambling for alternatives. That’s when startups struggle to secure the next round of funding.

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Payments Startup Paay Left 2.5M Credit Card Info Exposed

PYMNTS

Paay, a startup credit card database storing millions of transactions, has been unsecured for weeks and only now closed again, according to a TechCrunch report. A security researcher, Anurag Sen, accessed the files and estimated around 2.5 Mendlowitz said the company had told around 15 to 20 merchants about the lapse.

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From Startup To Global Payments Giant: Visa Turns 60

PYMNTS

18), a San Francisco startup launched by sending roughly 60,000 credit cards to consumers living in northern California. This startup was a bank, and its innovation was a single card that could be used by consumers to purchase things on credit from many different merchants. The startup was Visa , of course.

Startups 103
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RegTech, AI Fuel Strong B2B FinTech Numbers

PYMNTS

venture capital sphere this week: VC funding for FinTech startups in Q1 alone hit $1.2 Venture Capital Practice National Co-Lead Partner, and Co-Leader of its Enterprise Innovative Startups Network, Brian Hughes, investors across the world also had a clear vision for where they wanted to see their money go. According to KPMG’s U.S.

B2B 77
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Investors Cool on Internet-of-Things Startups, a Tech Conduit for Retailers

CFO News Room

Slumping markets have investors pulling back from funding startups that make internet-connected devices for retailers, threatening to choke an innovation pipeline for emerging tools like smart shopping carts and inventory management robots. Over the same period, investment dollars in IoT startups fell 57.2% billion, PitchBook said.

Startups 100
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Home Improvement Startup Houzz Suffers Data Breach

PYMNTS

Home improvement startup Houzz revealed that it suffered a data breach. Once its security team became aware of the issue, it immediately launched an investigation with assistance from a leading forensics firm. It also notified law enforcement authorities, as well as any customers that might have been impacted by the incident.

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Understanding What Investors Really Look for in Your Financial Reports

CFO Plans

In the whirlwind world of startups and businesses on the hunt for investment, financial reporting is much more than a collection of numbers; its the story of your businesss vitality, potential, and vision. Contact CFO Plans for a consultation or download our comprehensive guide on financial reporting for startups.