that one of its investors was walking away from its original investment, returning its equity and board seat to the company. raised $35 million,
But Sequoia didn't reclaim its original investment in Finix, reportedly leaving the company behind with $21 million, according toFinix used those funds to raise an additional $10 million in a round led by Inspired Capital, boosting its total funds raised to over $60 million, the announcement said.
Finix's announcement quoted Sequoia partner Pat Grady in explaining its decision to leave. Grady said that the VC originally made a mistake in thinking that the payments startup did not compete with any of Sequoia's existing portfolio companies.
The 1 Secret to Achieving all Your Goals
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
SUCCESS INSIDER: Harvard, HR leaders, Honeywell, Shark Tank, Bain - Business InsiderOur regular newsletter for getting things done. Like how the most inspiring HR leaders transforming their company's cultures.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Crypto startup Argent backed by Coinbase founder in $12m funding round - Business InsiderCrypto startup Argent has raised $12 million in fundraising after being backed by Index Ventures and top veterans of Coinbase and Sequoia
Source: BusinessInsider - 🏆 729. / 51 Read more »
The head of Adobe's enterprise business on digital transformation - Business InsiderHere are the two big challenges the head of Adobe's head of enterprise businesses says all companies face when undergoing digital transformation
Source: BusinessInsider - 🏆 729. / 51 Read more »
Wu-Tang clan member invested in online chess, entertainer investing - Business InsiderHere's what happened when a member of the Wu-Tang Clan invested in an online chess site and offered to play against users (by zogblog) zogblog
Source: BusinessInsider - 🏆 729. / 51 Read more »
Pro gamer Justin Wong explains why he quit esports, became influencer - Business InsiderJustin Wong spent more than two decades traveling the world to play games like 'Street Fighter,' but now he's building a career as an influencer.
Source: BusinessInsider - 🏆 729. / 51 Read more »