The round is said to be a second extension of its Series B round and has already closed. Corgi announced its last round, the B1 round of $106 million at a $2.6 billion valuation at the end of May, about eight weeks ago. The Y Combinator alum (summer 2024) raised a $108 million Series A in January at an undisclosed valuation. (PitchBook estimates $630 million post-money.) Four months later, in early May, it raised its Series B: $160 million at a $1.3 billion valuation. Just three weeks later, it announced a B1 round from the same investors, saying they'd invested $106 million at a $2.6 billion valuation. Corgi is backed by TCV and Kindred Ventures. Kindred's Kanyi Maqubela cited the startup's momentum to TechCrunch as justification for the last valuation leap. The apparent justification for the new valuation is the startup's revenue trajectory. When Corgi announced its Series A seven months ago, the founders said their company had already hit $40 million in annualized revenue run rate. Sources told Forbes it's now on track to increase run rate to $450 million by the end of the year....

Y Combinator-backed insurance tech startup Corgi became embroiled in yet another controversy earlier this week when Papermark, maker of open source data room software, accused Corgi of stealing its software and passing it off as its own. Seitz's post blew up because he shared screenshots showing Corgi's product using the same language for the same features as Papermark's, word for word. Deal room software is essentially secure document sharing. It is famously used by startups to pitch VCs and send them supporting materials for due diligence. Corgi's co-founder and CEO Nico Laqua saw the tweet and promised to investigate. Soon after, he posted on X his full denial with receipts of his own, showing that the code was different between the two products. While he strenuously pushed back on the allegations of a license violation (''stole my enterprise-code' is a different claim than 'copied my style,' Laqua argued), he did admit that relying on a vibe-coding design led to the replica features. 'The issues were isolated to visual elements on two peripheral settings pages,' the spokesperson told us, adding that these elements were 'immediately updated' and that 'our team confirmed that no code was used from Papermark.'...

The discipline of software engineering is currently navigating a violent paradigm shift. In early 2025, the cultural lexicon absorbed the concept of 'vibe coding,' a phrase minted to describe a novel, intuitive workflow where developers direct large language models (LLMs) via natural language, effectively abandoning the keyboard to let the model generate the underlying syntax. This approach was characterized by an embrace of 'exponentials' and a tendency to forget that the code even exists, relying entirely on the raw output of the prompt. By 2026, this capability expanded into 'vibe physics,' with models like Claude Opus 4.5 autonomously conducting graduate-level theoretical physics research through 52,000-message agentic loops. However, for weekend projects and rapid prototyping, this approach demonstrates the unreasonable effectiveness of generative models. But as these systems transition from conversational assistants to autonomous agents executing multi-step workflows in production, the constraints of software development radically alter. The industry no longer faces a creation problem; it faces a severe confidence problem....

' Hey, Linas here! Welcome back to a ' weekly free edition ' of my daily newsletter. Each day, I focus on 3 stories that are making a difference in the financial technology space. Coupled with things worth watching & most important money movements, it's the only newsletter you need for all things when Finance meets Tech. The First One-Person Unicorn and the Race to Own the AI Agent Layer '' [how a solo founder built the fastest-growing open-source project in history, and what comes next for OpenClaw, OpenAI, & the AI OS race] The Android of Commerce - How Google Is Building the Interface Between AI & Money '' [why recently introduced WebMCP is a game-changer, how it stacks perfectly into Google's Android of Commerce playbook, things worth watching, what's next for FinTechs/Banks/Payments companies, etc. + bonus deep dives into Google's UCP, how I built an AI OS to run startup with Claude, and how AI is eating software today] Coinbase in 2025: crypto's toll booth operator is building a highway, but the traffic is cyclical '' [deep dive into their latest financials, breaking down the most important facts & figures, understanding what they mean, and whether COIN 0.00%' is worth your time and money in 2026 and beyond + bonus dive into their biggest competitor Robinhood inside]...