Oh Great, Another Blend-In Fintech Startup: Frec Pockets $26.4 Million

If you were feeling a tad less bored today, I hate to break it to you but another forgettable fintech startup – Frec, decided to show off today. Emerging from whatever hole they call ‘stealth’, they’ve managed to raise a yawn-inspiring $26.4 million in seed and Series A funding. The potential guilt trippers of this money sink are Greylock, Social Leverage, and a couple of other anonymous patsies who’d probably bet on a three-legged horse.

The “Groundbreaking” Implications of this Technology

Now that Frec’s got this heap of cash burning their pockets, what does it mean for all of us? Well, we can cheerfully expect another ‘revolutionary’ fintech tool that would undoubtedly be definitely like nothing else on the market – note my dripping sarcasm. Most likely, they’ll claim to solve all the finance troubles of the world but instead will surely unfurl a roll of bug-riddled algorithms wrapped up in a nebulous cloud of marketing jargon.

The Not-So-Hot Take: Yet Another Dime A Dozen Fintech Firm

In the end, my cynicism might spring from the fact that I’m sick and tired of these dime-a-dozen startups, promising to reinvent the fintech wheel with every passing day, but rarely following through. What a shocker! Seriously, given the squillion other companies in the same boat, can Frec really stand out or are they just another doomed jump on the fintech bandwagon? But hey, what do I know? Maybe Frec will surprise us all and not end up being another one-hit-wonder. Good luck with that, kiddos. Overall, my yawn remains uncontained.

Original article:https://venturebeat.com/ai/frec-steps-out-of-stealth-with-26m-in-funding-aiming-to-democratize-sophisticated-investing-with-ai/