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Welcome to another episode of our Daily Fintech Podcast.
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THE NEWS HIGHLIGHT OF THE DAY IS
Varo Bank could run out of funds by year-end, filing shows. The bank, which raised $510 million at a valuation of $2.5 billion last year, reported $263 million in equity and a burn rate of $84 million in 2022’s first quarter.
JUST IN:
The Klarna Card is now available to US consumers, and comes amid Klarna's rapid growth in the US, which continues to be Klarna's fastest-growing key market by volume.
WHAT ABOUT CRYPTO?
Revolut has long been known for its early bet on crypto. Its most recently rumoured iteration of this appetite for all things blockchain-based is the launch of its own native token focused on loyalty dubbed ‘Revcoin’.
WHAT ARE THE LATEST INSIGHTS?
A recent report from Andreessen Horowitz illustrates a sad state of affairs for the FinTech industry, which has gotten clobbered in the tech-stocks downdraft. A chart included in the report shows fintech valuations in sharper decline than any other sector, by a significant margin.
LET’S HEAR ALL ABOUT MERGERS AND ACQUISITIONS:
South African financial services group Sanlam has bought a controlling interest in payment solutions provider Q LINK Holdings 
European fintech lender October has acquired Credit.france
Also
Yolt announced a collaboration with October, Europe’s leading SME lending platform.
WHAT’S THE LATEST ON VENTURE FUNDS?
Binance raised a $500 million fund to invest in 'Web3' as crypto slides into a bear market.
Alven has raised €350m for its latest fund to back pre-seed to Series A startups all across Europe. It’s the largest early-stage fund raised in France to date.