Rainforest raises $8.5M and PayPal gets hit with a lawsuit. We take a look at this and other hot fintech news from the previous week.
From TechCrunch
By Christine Hall
October 8, 2023
Rainforest raises $8.5M and PayPal gets hit with a lawsuit. We take a look at this and other hot fintech news from the previous week.

Venture fund founder sues PayPal, alleging racial discrimination
PayPal is being sued by the founder of venture firm Andav Capital, Nisha Desai, who claims she was excluded from the payment giant’s diversity and equity program because she is Asian, according to a suit filed this week. In 2020, PayPal made a $530 million commitment to support more Black and minority-led businesses in the wake of Black Lives Matter. In the newly filed lawsuit, Desai claims that she applied to be considered for the financial commitment but was overlooked because she is Asian
Jan 3, 2025
Here’s how fintech Rainforest, a budding Stripe rival, aims to win over software companies
Rainforest raises $8.5M and PayPal gets hit with a lawsuit. We take a look at this and other hot fintech news from the previous week.
Oct 8, 2023
Fintech startup Ramp raises $300M at a 28% lower valuation of $5.8B
Fintech startup Ramp has raised $300 million in a funding round co-led by existing backer Thrive Capital and new investor Sands Capital at a post-money valuation of $5.8 billion. The Information reported last week that spend management company Ramp was raising “several hundred million dollars” at a $5.5 billion valuation. Ramp last raised in March […]
Aug 22, 2023

PayPal faces new antitrust lawsuit claiming it unfairly stifles competition with Stripe, Shopify and more
PayPal has been hit with a class-action lawsuit by consumers represented by law firm Hagens Berman alleging that the fintech giant’s anti-steering rules stifle competition against lower-cost payment platforms such as Stripe and Shopify. Specifically, according to an investigation conducted by the firm’s consumer rights attorneys, PayPal has subjected consumers to excess charges when purchasing […]
Oct 5, 2023