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Brex's Cash Burn and Fintech Updates
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Brex, a spend management startup, underwent a restructuring due to cash burn, cutting 282 employees. Fintech investing slowed in 2023, with Bilt Rewards raising $200 million and Klarna introducing a new subscription plan. PayPal is piloting new updates, including a cash-back offering and personalized recommendations.
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How might Brex's restructuring due to cash burn affect its future growth and market position?
What are the potential implications of PayPal's new updates for the financial services industry and consumers?
What factors contributed to the slowdown in fintech investing and valuations in 2023?
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