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🇦🇷 Rexi raises a US$1.2 million Pre-seed round Argentine fintech Rexi has raised a US$1.2 million pre-seed round to build an AI-native financial reconciliation platform for banks, digital wallets, insurtechs and payment processors. Based between Buenos Aires and New York, the startup automates a process that most financial institutions still solve with complex, error-prone internal systems, connecting every financial data source into a single platform, applying no-code reconciliation rules and using an AI agent to resolve exceptions. The capital will be used to strengthen the product and scale the team.

New York is about to make a massive mistake. The NY State Senate is advancing a proposal to decouple from federal QSBS (Section 1202) — the tax provision that lets startup founders exclude gains on qualifying exits. If this passes, founders would owe 10-13% in combined state and city tax on exits that are tax-free at the federal level and in nearly every other major tech state. Even worse: it's retroactive to January 1, 2025. This comes right as the federal government just expanded QSBS benefits and New Jersey moved to full conformity. New York wants to go in the opposite direction. As a seed investor in NYC who has backed hundreds of companies, I can tell you: founders are mobile. If New York becomes one of the most punitive states for startup exits, the best founders will simply build somewhere else — and the jobs, tax revenue, and innovation will follow. NYC has built something special over the last two decades. This proposal puts it all at risk for a short-sighted revenue grab. If you're a founder, investor, or anyone who cares about the NYC tech ecosystem — please sign the TechNYC open letter before Monday below 👇🏾👇🏾👇🏾 Keep building, NYC 🗽