The rout that tech stocks faced on Thursday captures all the pressures faced by the FinTech IPO names … and captured them in a nutshell. Economic data fueled fears of continued rate hikes, as U.S. GDP rose 3.2% year over year in the third quarter....
Private equity funds are seeking new ways to close deals as debt financing becomes scarce. That’s according to a Thursday (Dec. 22) report from Reuters, which notes a 40.4% decline in worldwide buyout activity, caused by a lack of debt financing, which was itself due...
South Korean investment app Toss has raised $405 million in a Series G funding round. The round lifts the company’s valuation to a reported 9.1 trillion won ($7.1 billion), up from 8.5 trillion won ($6.6 billion) last June, notable at a time when FinTechs are...
Phoenix Group, Legal & General and Lloyds Banking Group have invested 55 million pounds in Moneyhub. Following the announcement of a 35 million pound ($42.5 million) investment provided by Legal & General and Lloyds Banking Group in October, on Tuesday (Dec. 20), Moneyhub announced that...
“Financial freedom” app Updraft has reportedly raised 108 million pounds sterling (about $131 million). The London-based financial app will use the new capital from this Series A funding round to grow its team, expand its customer base and invest in new features and products, Tech...
J.P. Morgan is growing its digital payments ventures in Asia with its In-Solutions Global investment. The partnership announcement comes as the first major investment into In-Solutions Global since its launch in 2004, according to a Monday (Dec. 19) press release emailed to PYMNTS. Headquartered in...
A string of funding rounds has highlighted a boom for European hospitality tech companies. As restaurants and hotels increasingly digitize their operations, investors are backing startups that develop software platforms for the hospitality industry. Leading the pack this week, Dutch firm Mews announced the close...
Israeli cybersecurity unicorn Snyk has raised $196.5 million in a Series G funding round. The Boston-based company, which was founded in 2015 by Israeli entrepreneurs Assaf Hefetz, Danny Grander and Guy Podjarny in London and Tel Aviv, is now valued at $7.4 billion, according to...
Visa has pledged to invest $1 billion in Africa to accelerate digital transformation. The announcement was made during the U.S.-Africa Business Forum in Washington Wednesday (Dec. 14). Visa will use the money to scale operations, deploy new technologies and deepen collaboration with its partners in...
