Petal raises $34M to launch new credit card
Fintech company Petal raised $34 million in debt financing to expand their product. The startup offers a credit card with no hidden fees or requirements so people can build credit rather than debt. Silicon Valley Bank and Jefferies contributed to the investment, which will be used to launch a credit card available to the public. [Press release]
NYC plans to become hub for cybersecurity
NYC is already a major tech hub, but the New York City Economic Development Corporation (NYCEDC) has even bigger plans. Through numerous partnerships with Columbia University, NYU, Cornell Tech, Fullstack Academy and others, the NYCEDC is working to make the city a hub for cybersecurity. Initiatives include a global cyber center, innovation hub, cyber bootcamp and more. [Press release]
Foursquare raises $33M to enhance technology
Location-based services app Foursquare announced $33 million in new funding led by Simon Ventures, Naver Corp. and Union Square Ventures. The Series F investment will be used to enhance its products, beef up research and development and grow its tech team. To date, the company has raised $240 million in funding. [VentureBeat]
quip announces brick and mortar location
Direct-to-consumer company quip announced its first brick and mortar location at Target. Previously only available online, the company’s line of oral health products will now be sold in stores, with refill packs and subscription plans available exclusively on getquip.com. This move helps make the brand omnichannel and even more accessible. [Press release]
Denmark-based Templafy opens office in NYC
Templafy, a template management platform for enterprise companies, opened a new office in NYC. The Denmark-based company now has a local office at NoMad at 307 5th Ave in NoMad. The new location will be led by Head of Customer Success Monika Juskaite. The move was strategic, as the U.S. cloud market is expected to grow to over $80 billion by the end of 2018. [Markets Insider]
Yumble raises $7M in Series A funding
There’s a new meal kit service on the market, and this one is geared toward a younger generation. Yumble is a food delivery service for children, and it just announced its Series A funding round from investors LaunchCapital, RiverPark Ventures, Danone Manifesto Venture, Sonoma Brands, Martin Lautman, Observer Capital and Apple Core. The investment will be used to grow the team and expand nationally. [Press release]
