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<div style="display: none; max-height: 0px; overflow: hidden;">Airwallex secured $330 million at an $8 billion valuation, with backing from T. Rowe Price, Robinhood Ventures, Addition, and others </div>
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<a href="https://tracking.tldrnewsletter.com/CL0/https:%2F%2Fcarta.com%2Fevents%2Ftax-ready-already%2F%3Futm_campaign=20251211-amer-vc-fa-tax-webinar_fintech%26utm_medium=newsletter%26utm_source=tldr/1/0100019b0dbd096c-cf38d449-c26e-47da-8867-ca2951badbbf-000000/s39V3AN62z0H_wTmlcUqkYWv_T0av7CDzSfhJ97GF50=435"><img src="https://images.tldr.tech/carta.png" valign="middle" style="vertical-align: middle !important; height: 100%;" alt="Carta"></a></td></tr></tbody></table>
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<h1><strong>TLDR Fintech <span id="date">2025-12-11</span></strong></h1>
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<strong>How AI is making fund tax season less painful for funds (Sponsor)</strong>
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The annual fund tax cycle is complex, time-consuming, and often chaotic. But what if it didn't have to be?<p></p><p>In this <a class="underline underline underline-offset-2 decoration-1 decoration-current/40 hover:decoration-current focus:decoration-current" href="https://tracking.tldrnewsletter.com/CL0/https:%2F%2Fcarta.com%2Fevents%2Ftax-ready-already%2F%3Futm_campaign=20251211-amer-vc-fa-tax-webinar_fintech%26utm_medium=newsletter%26utm_source=tldr/3/0100019b0dbd096c-cf38d449-c26e-47da-8867-ca2951badbbf-000000/qBEr8fIXSpF15H2YISVWYeow5kcsUgRyODUG8pB7dWo=435" rel="noopener noreferrer nofollow" target="_blank"><span>on-demand recording</span></a>, Carta CEO Henry Ward details his vision for how AI will reshape fund operations - and what it means for tax readiness.</p>
<p>He's joined by DataTribe CFO Matt Moran - who shares how his team uses Carta as part of a tech-forward approach to fund management.</p>
<p>You'll also get a <a href="https://tracking.tldrnewsletter.com/CL0/https:%2F%2Fcarta.com%2Fevents%2Ftax-ready-already%2F%3Futm_campaign=20251211-amer-vc-fa-tax-webinar_fintech%26utm_medium=newsletter%26utm_source=tldr/4/0100019b0dbd096c-cf38d449-c26e-47da-8867-ca2951badbbf-000000/bf50hTLCc0GoLGQw80n_pC81NwTyff7w9-_gXR6Cwts=435" rel="noopener noreferrer nofollow" target="_blank"><span>behind-the-scenes look</span></a> at how Carta is using AI and automation to build its Carta Fund Tax product.</p>
<p><a class="underline underline underline-offset-2 decoration-1 decoration-current/40 hover:decoration-current focus:decoration-current" href="https://tracking.tldrnewsletter.com/CL0/https:%2F%2Fcarta.com%2Fevents%2Ftax-ready-already%2F%3Futm_campaign=20251211-amer-vc-fa-tax-webinar_fintech%26utm_medium=newsletter%26utm_source=tldr/5/0100019b0dbd096c-cf38d449-c26e-47da-8867-ca2951badbbf-000000/GCOzY05UVneaOHWzAYaGVuDRzzNYkD7dAr2JGoR-2iU=435" rel="noopener noreferrer nofollow" target="_blank"><span>Watch the recording</span></a>
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<strong>Airwallex raises $330 million at an $8 billion valuation (2 minute read)</strong>
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Airwallex secured $330 million at an $8 billion valuation, up 30% from six months ago, with backing from T. Rowe Price, Robinhood Ventures, Addition, and others. The payments startup surpassed $1 billion in annualized revenue and is expanding aggressively in the US, naming San Francisco a second global headquarters and planning to double its stateside team.
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<strong>Tiger Global launches disciplined new fund with $2.2 billion target (3 minute read)</strong>
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Tiger Global is raising $2.2 billion for its new Private Investment Partners 17 fund, signaling a shift from past “spray and pray” tactics toward a more focused strategy centered on trimming weaker bets and doubling down on winners such as OpenAI, Waymo, Revolut, and ByteDance.
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<strong>Instacart offers instant checkout via ChatGPT (2 minute read)</strong>
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Instacart, a leading grocery technology company in North America, today announced that it is the first grocery partner to launch an app on ChatGPT and the first to offer an embedded, end-to-end shopping and Instant Checkout, all within the context of a ChatGPT conversation.
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<h1><strong>Deep Dives & Reports</strong></h1>
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<strong>Inside Campfire's rise: how a dual CEO-CFO is scaling a new ERP darling (3 minute read)</strong>
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Campfire CEO/CFO John Glasgow breaks down how the company raised $100M in 12 weeks, why enterprise buyers — not investors — pushed for the larger balance sheet, and how Campfire's no-custom-code architecture avoids the fragility of legacy ERPs. He explains how the team runs with “Series A discipline,” why implementation quality is their moat, and what it means to support IPO-ready customers as the next major milestone.
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<a href="https://tracking.tldrnewsletter.com/CL0/https:%2F%2Fmenlovc.com%2Fperspective%2F2025-the-state-of-generative-ai-in-the-enterprise%2F%3Futm_source=tldrfintech/1/0100019b0dbd096c-cf38d449-c26e-47da-8867-ca2951badbbf-000000/5oqfirGE_851LrsWbYnQB0gq4QFbQZ2idhyHB4CW4S0=435">
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<strong>AI boom vs. bubble: Inside enterprise's fastest-scaling software category (15 minute read)</strong>
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Menlo Ventures pegs enterprise generative AI spend at $37B in 2025, up 3.2x YoY and already 6% of the global SaaS market, making it the fastest-scaling software category in history. The report shows enterprises now buy 76% of AI solutions (vs. building in-house), startups capturing ~2x the app-layer revenue of incumbents, and Anthropic overtaking OpenAI in enterprise LLM share, while infrastructure spend, agent architectures, and edge deployment are just starting to mature.
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<strong>Agentic Commerce Is Here: Why PSPs Must Act Now to Stay Relevant (5 minute read)</strong>
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Agentic commerce is moving from concept to reality faster than the industry expected. AI agents are increasingly steering how consumers discover products, compare options, build carts, and initiate purchases. While the long-term vision is fully autonomous payments, the near-term reality looks quite different. We are entering a semi-autonomous era: AI agents do the heavy lifting, but the user remains the final decision-maker.
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<h1><strong>Launches & Products</strong></h1>
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<a href="https://tracking.tldrnewsletter.com/CL0/https:%2F%2Fwww.marqeta.com%2Fcmp%2Fno-compromise%3Futm_source=tldr%26utm_medium=newsletter%26utm_campaign=fy25q3_no_compromise%26utm_content=tldr_fintech_secondary/1/0100019b0dbd096c-cf38d449-c26e-47da-8867-ca2951badbbf-000000/uO3MflSDB-AfTszCLbyGMn1RspO2I8_f2vi77BHRh7A=435">
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<strong>Innovative payments solutions to inspire your CEO. A track record your CTO can bank on. (Sponsor)</strong>
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<span style="font-family: "Helvetica Neue", Helvetica, Arial, Verdana, sans-serif;">
<strong>Marqeta</strong> meets needs across your business, in one end-to-end payments platform.<p></p><p><a href="https://tracking.tldrnewsletter.com/CL0/https:%2F%2Fwww.marqeta.com%2Fcmp%2Fno-compromise%3Futm_source=tldr%26utm_medium=newsletter%26utm_campaign=fy25q3_no_compromise%26utm_content=tldr_fintech_secondary/2/0100019b0dbd096c-cf38d449-c26e-47da-8867-ca2951badbbf-000000/8984EvpLoQMZ9Omia4sIytjUJBuBHFw0IhNK4TWEh-w=435" rel="noopener noreferrer nofollow" target="_blank"><span>Find out how ></span></a>
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<strong>Fifth Third partners with Brex to power commercial cards (2 minute read)</strong>
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Fifth Third has selected Brex as the provider for its commercial cards and expense management tools, adopting Brex's embedded payments and AI automation platform instead of building its own. The partnership comes as Fifth Third prepares to acquire Comerica—moving it into the top 10 US banks, and reflects a broader trend of regional banks leaning on fintech infrastructure to modernize corporate spend and reporting workflows.
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<a href="https://tracking.tldrnewsletter.com/CL0/https:%2F%2Fwww.socure.com%2Fnews-and-press%2Fsocure-acquires-qlarifi%3Futm_source=tldrfintech/1/0100019b0dbd096c-cf38d449-c26e-47da-8867-ca2951badbbf-000000/oj2jlnrK_jzm4RLommBsp1DOMp_XoR1gwaUoxIaivJo=435">
<span>
<strong>Socure acquires Qlarifi to launch real-time BNPL credit infrastructure (2 minute read)</strong>
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Socure has bought Qlarifi, a real-time BNPL credit database, creating a unified system that merges identity verification, anti-fraud, and BNPL credit data. The combined platform gives lenders cross-provider visibility to spot loan stacking, cuts first-party fraud by up to 70 percent, and extends responsible credit to thin-file consumers while meeting regulators' calls for transparency as BNPL adoption accelerates globally.
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<strong>Deep Dive: Why Circle Built Arc and How It Changes Payments (5 minute read)</strong>
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Arc is Circle's answer to the “make stablecoins more usable” wishlist. Arc is a purpose-built, EVM-compatible Layer-1 blockchain optimized for stablecoin finance. In non-jargon: it's a new network that only cares about making digital dollars (and other fiat tokens) move efficiently. Circle basically looked at what institutions hate about public blockchains - wild fee volatility, uncertain settlement, zero privacy - and engineered Arc to fix each of those.
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<div style="text-align: center;"><strong><h1>Miscellaneous</h1></strong></div>
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<a href="https://tracking.tldrnewsletter.com/CL0/https:%2F%2Fwww.paymentsdive.com%2Fnews%2Ffiserv-faces-security-issue-lawsuit%2F807220%2F%3Futm_source=tldrfintech/1/0100019b0dbd096c-cf38d449-c26e-47da-8867-ca2951badbbf-000000/Cdl5pmMdVZiGq8ElFJ1UvdJ9RNrwcBWpyyMyKBIa7UQ=435">
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<strong>Fiserv sued over alleged security misrepresentations (2 minute read)</strong>
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Self-Help Credit Union alleges Fiserv misled clients by claiming to use two-factor authentication while relying instead on email passcodes, creating a gap between promised and actual security. Fiserv denies the claims, which add to mounting legal pressure from recent shareholder lawsuits tied to operational disclosures and its Clover migration strategy.
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<a href="https://tracking.tldrnewsletter.com/CL0/https:%2F%2Fwww.bankingdive.com%2Fnews%2Focc-fdic-scrap-leveraged-lending-guidance-private-credit%2F807295%2F%3Futm_source=tldrfintech/1/0100019b0dbd096c-cf38d449-c26e-47da-8867-ca2951badbbf-000000/BD4hfNmI3ZoCTZVD7bv3Vdv5Xz6a6QXAMUC4smrFpFw=435">
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<strong>OCC, FDIC scrap Obama-era leveraged lending guidance (6 minute read)</strong>
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Bank regulators have revoked the decade-old leveraged lending framework, clearing the way for banks to rely on their own judgment rather than prescriptive rules when financing heavily indebted companies. The agencies argued the old approach swept in loans it was never meant to cover, and ultimately pushed much of the market toward private credit firms. Analysts say the shift could reignite banks' commercial lending activity, though it may also set the stage for higher credit losses when the next cycle turns.
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<div style="text-align: center;"><span style="font-size: 36px;">⚡</span></div></div>
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<h1><strong>Quick Links</strong></h1>
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<a href="https://tracking.tldrnewsletter.com/CL0/https:%2F%2Fwww.linkedin.com%2Fposts%2Ftkkong_after-55-years-and-selling-my-startup-to-activity-7404554370396233728-tctB%3Futm_source=share%26utm_medium=member_desktop%26rcm=ACoAAA32rJkBCFg6qK7f7aa8EYzYJ9ha6bbpnfk/1/0100019b0dbd096c-cf38d449-c26e-47da-8867-ca2951badbbf-000000/FnZwWzcfKkv8aPyYfWUOvxcRUXxbVvrRECd4XerrnP0=435">
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<strong>Early Ramp designer and Venue founder reflects on 5.5 year run at Ramp (1 minute read)</strong>
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After joining Ramp as employee #20, then founding and selling Venue to the company, TK recaps how he helped build Ramp's procurement engine, contributed to Ramp Labs' AI features, and witnessed Ramp scale from scrappy startup to $32B giant.
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<strong>AI-native fintechs dominate the latest YC batch (1 minute read)</strong>
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<span style="font-family: "Helvetica Neue", Helvetica, Arial, Verdana, sans-serif;">
YC's newest fintech companies cluster around full-stack, AI-driven replacements for insurance, accounting, trust management, financial operations, and consumer banking, signaling a shift away from point solutions toward end-to-end AI-powered services.
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