Daily Crunch: Raise now, pay later: $800m funding round cuts Klarna's valuation by 85%

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TechCrunch's top 3 Klarna, Klarna, Klarna, Klarna, Klarna Chameleon: Sorry, we had to bring that header back; it is simply too beautiful and makes us happy. This time we confirm the rumors were true: European Klarna bagged a big chunk of real estate venture capital - $800m - but did so at a lower valuation, so 85% less to land at $6.7 billion, writes Paul. Everyone Wants You: And by "you" we mean Gen Z. They're not really old enough to remember the absolute horror of watching stocks and investments plummet during the economic downturn of 2007-2010, but the environment of 2022 gives them a taste of that. Don't worry, Christine writes about Uprise, a new app in private beta that's building an investing tool with Gen Z in mind so they can know when to take that 401(k) match or how much is too much to have in a checking account. In a way, we manage: However, managing a fleet of migrant workers can be an administrative headache. In another story by Paul, he writes that Kadmos is here to provide medicine for this headache in the form of a wage payment platform specifically for migrant workers so that, among other things, they can avoid to pay some of the exorbitant fees for money transfer. at their respective homes. Startups and VCs

Unacademy, one of India's top-flight startups, is going through a series of cost-cutting measures, including a pay cut for founders and the closure of "some businesses" as it tightens its grip belt and promises an IPO within the next 2 years, reports Manish.

As for layoffs, Natasha M took a closer look at the data on who was hit hardest by the big wave of tech layoffs. Spoiler alert: fintech is leading the charge. There's also a bunch of other really interesting news from the past week, in Natasha's Startups Weekly newsletter. You can subscribe to this, and a bunch of our other awesome newsletters, on this convenient one-stop subscription page.

It was a busy weekend on TechCrunch. This is the crème de la crème!

Once, twice, thrice a decimation: Amid returning in-person events and waning interest in virtual events, Hopin - once the world's fastest-growing startups - just fired a third of its workforce, just months after its latest round of layoffs,