News Formal

Sequoia Capital left behind millions to walk away from Finix Payments - Business Insider

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 29 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 51%

Sverige Nyheter Nyheter

Sverige Senaste nytt,Sverige Rubriker

This startup now has millions in no-strings-attached money because one of Silicon Valley's most famous VC firms had to walk away from the deal

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 Grady said that the VC originally made a mistake in thinking that the payments startup did not compete with any of Sequoia's existing portfolio companies.

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.

The 1 Secret to Achieving all Your Goals

Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 729. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

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.
Källa: BusinessInsider - 🏆 729. / 51 Läs mer »

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
Källa: BusinessInsider - 🏆 729. / 51 Läs mer »

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
Källa: BusinessInsider - 🏆 729. / 51 Läs mer »

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
Källa: BusinessInsider - 🏆 729. / 51 Läs mer »

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.
Källa: BusinessInsider - 🏆 729. / 51 Läs mer »