An angel investor was so intrigued by this startup, he joined as a co-founder

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This week we’re taking a look at a startup out to assist folks navigate long-term care utilizing AI, a flurry of exercise in Africa, one other fintech firm shutdown, and extra.

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The massive story

Lily Vittayarukskul, Co-founder and CEO — **Picture Credit:**Waterlily

Lengthy-term care isn’t one thing most individuals take into consideration till they’re older, or till they’re compelled to. And by then, it’s usually too late. This subject is private to me, as I noticed each my oldest brother and my mom undergo from diseases and require long-term care lately. Not solely is it tough to seek out high quality care, however additionally it is extraordinarily costly — even in the event you had been lucky sufficient to buy some type of insurance coverage coverage. So after I was just lately pitched a narrative on a startup utilizing AI to assist folks navigate long-term care planning, I used to be intrigued.

Lily Vittayarukskul started Waterlily in late 2021 after her household was “worn out” financially by serving to take care of her aunt who had been identified with terminal colon most cancers. The corporate makes use of synthetic intelligence to foretell a household’s future long-term care wants and prices after which guides them “in constructing a care plan and determining the suitable solution to pay for it.”

Fascinating. I’m not the one one who thinks this manner. Vittayarukskul initially began Waterlily as a solo founder till Evan Ehrenberg, a small angel investor, got here alongside. Ehrenberg — who had beforehand based and sold Clara Well being — helped with early analysis and was struck by the trade’s response. Curious, he examined the platform and was shocked by his long-term care predictions — a lot in order that he modified his food regimen, employed a private coach, and up to date his monetary plans. That have pulled him in deeper. By 2022, Ehrenberg — who grew to become MIT’s youngest neuroscience PhD — had joined Waterlily as a co-founder.

{Dollars} and cents

Moove Founders — **Picture Credit:**Moove

Uber-backed Moove, an Africa-born mobility fintech that gives car financing to ride-hailing and supply app drivers throughout six continents, has acquired Kovi, a Brazilian city mobility supplier. Moove co-founder and co-CEO Ladi Delano advised TechCrunch that the deal bumps the mobility fintech’s annual income to $275 million. Final March, Moove reported a $115 million ARR.

Formance believes there’s worth in providing a modular platform that’s just like Amazon Net Providers’ tackle cloud internet hosting: Prospects can use a single service, however it’s extra environment friendly in the event you home all of your cloud infrastructure underneath the identical roof. And it’s simply raised $21 million in a spherical co-led by PayPal Ventures and Portage.

French embedded banking startup Swan has raised another €42 million (round $44 million at present trade charges). The corporate considers this spherical to be the second a part of the Sequence B that was initially introduced in September 2023.

Cedar Cash recently closed $9.9 million in seed funding led by QED Buyers. Like many cross-border cost platforms utilizing stablecoins, Cedar Cash acts as a bridge. It launched in early 2024, beginning operations in Nigeria.

Guinea-based fintech Cauridor just lately raised $3.5 million in seed funding to proceed constructing its cost rails that allow retailers, banks, telecom operators, and cash switch firms transfer funds out and in of Africa.

What else we’re writing

A laptop keyboard and Wise on App Store displayed on a phone screen. — **Picture Credit:**Jakub Porzycki/NurPhoto / Getty Photographs

The Shopper Monetary Safety Bureau (CFPB) has hit U.Ok.-based remittance firm Sensible with an roughly $2 million fine for what it described as “a sequence of unlawful actions.”

Cushion, a fintech startup that described itself because the “Plaid for purchase now, pay later (BNPL),” has shut down. Founder and CEO Paul Kesserwani stated that “regardless of bringing a number of new fintech merchandise to market,” Cushion “didn’t attain the size wanted to maintain the enterprise.”

Elon Musk-owned social community X introduced a partnership with Visa to deal with person-to-person funds for its upcoming X Cash product.

With its 700,000 clients, Alan could possibly be thought-about as a mature firm. However the medical health insurance firm that wishes to grow to be a digital companion to your well being is still growing like a startup.

Serial entrepreneur and former recording artist Victor D. Lombard, also called DIVINE, introduced the launch of a new fintech company for musicians in partnership with RAKIM, one in all hip-hop’s most influential emcees.

The rise of stablecoins — now a $205 billion market — is pushed by real-world utility, not hypothesis, notably in rising markets the place essentially the most compelling use circumstances unfold. Tage Kene-Okafor does a deep dive.