Klarna, the Swedish buy now, pay later giant, has announced its plans to "embrace crypto" according to a post by CEO Sebastian Siemiatkowski on X. This move marks a significant shift in the company's strategy, which comes as it prepares for a U.S. initial public offering (IPO) in April with a target valuation of $15 billion. Although this valuation is lower than its peak of $45.6 billion in 2021, it would still be one of the largest listings of the year, according to the Financial Times.

In other fintech news, Deel, a fintech-turned-HR outfit, is laying the groundwork for an IPO. The company recently announced that its annual revenue run rate has climbed to $800 million in 2024, a 70% growth, and has sold $300 million in secondary shares to General Catalyst and an unnamed "sovereign investor."

Rapyd Financial Network, a global payments platform, is looking to raise $300 million in a new funding round that would value the company at $3.5 billion. This valuation is a significant decrease from its approximately $9 billion valuation set in 2021.

In the world of startup funding, Khazna, an Egyptian fintech startup, has secured $16 million in pre-Series B funding, bringing its total funding to over $63 million. Superlogic, a startup that helps consumers apply rewards points toward experiences, has raised $13.7 million at a $200 million valuation.

Stripe, the payment giant, has made significant moves in the crypto space with its $1.1 billion purchase of stablecoin platform Bridge. This acquisition marks the company's largest to date and a tangible push into crypto. Additionally, Stripe has tapped Asya Bradley to serve as its Startups and VC Partnerships lead, bringing her revenue expertise from Synapse and Sila.

In a surprising move, Philadelphia Eagles' star running back Saquon Barkley has not only become an investor in fintech startup Ramp but also starred in the company's first Super Bowl commercial.

In other news, the US consumer finance watchdog (CPFB) chief has told all staff to cease work, days after the Trump administration closed the bureau's headquarters for a week. Plaid is also working with Goldman Sachs on raising $300M to $400M in a tender offer.

The recent bankruptcy filings of Bench, a Canada-based startup that offered cloud accounting software for small businesses, have provided a clearer picture of the company's downfall. The records show that Bench consistently struggled to reach profitability, burning through $135 million from its founding in 2012 to September 2024. The company's collapse serves as a warning to startups about the dangers of too much debt.

As the fintech industry continues to evolve, these developments highlight the growing importance of crypto, strategic hiring, and careful financial planning for startups and established players alike.