The big news: Peter Thiel-backed expense management startup Ramp’s valuation soared to $13 billion after a $150 million secondary stock share that saw the company bring on several new investors. The new valuation is almost double the $7.7 billion the company was at last April, when it had a $150 million Series D fundraising round.
On the move: Jon Burrell has joined embedded finance company Weavr as its Deputy CEO. Burrell spent several years in international transaction banking and fintech as Global VP of Operations and Head of Compliance at CurrencyCloud.
The buzz: Apex Fintech is considering buying cryptocurrency trading platform Bakkt, Axios reported, two years after Bakkt bought out Apex’s crypto operations due to a perceived unfavorable regulatory environment.
On the rise: Discount retailer Temu formed a strategic partnership with Canadian fintech company Nuvei to give its customers greater access to local payment methods at checkout. The integration supports local direct card acquiring and popular regional payment options in Japan, Poland, Belgium, the Netherlands, and Portugal.
What’s next: President Donald Trump signed an executive order establishing a strategic U.S. Bitcoin reserve. Trump advisor David Sacks said the reserve will be capitalized with Bitcoin owned by the federal government that was forfeited as part of criminal or civil asset forfeiture proceedings.
