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Alibabas Ant Financial buys UK currency exchange giant WorldFirst reportedly for around $700M
Ant Financial, the financial services behemoth affiliated with Chinese e-commerce giant Alibaba, has made its first big move into Europe. It’s acquired London-headquartered payments company WorldFirst in a deal that sources tell us is valued at around $700 million. (That price would also line up with multiple reports from December claiming the two were in […]
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Starling Bank, now with 460K consumer accounts, raises 75M more for European expansion
Starling Bank, founded by banking veteran Anne Boden, has raised £75 million (~$97 million) in further funding. The new capital breaks down as £60 million in a Series C round led by Merian Global Investors, including Merian Chrysalis, with £15 million in follow-on funding from Starling’s existing backer and major shareholder Harald McPike. It brings […]
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A private equity bet in Latin America proves the strength of fintech investments there
Latin America is getting another fintech unicorn thanks to Advent International’s acquisition of a 51 percent stake of Prisma Medios de Pago, an Argentine payments company formed as a joint venture between Visa International and local banks. The deal, which values Prisma at $1.42 billion, is yet another sign of Latin America’s growing prominence for […]
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Its the end of crypto as we know it and I feel fine
Watching the current price madness is scary. Bitcoin is falling and rising in $500 increments with regularity and Ethereum and its attendant ICOs are in a seeming freefall with a few “dead cat bounces” to keep things lively. What this signals is not that crypto is dead, however. It signals that the early, elated period […]
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UPDATE: WorkFusion adds to its $50 million with strategic investors as it bulks up for acquisitions
WorkFusion, a business process automation software developer, added two new investors to its $50 million April round. The company’s new strategic investors include the large insurance company, Guardian; healthcare services provider New York-Presbyterian; and the commercial bank, PNC Bank. Venture investor Alpha Intelligence Capital, which specializes in backing artificial intelligence-enabled companies, also participated in the […]
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Formula 1-Inspired Electric Cars Are Coming to India and Australia
Tycoon Sanjeev Gupta targeting production in the early 2020’s GFG Alliance is bidding on auto parts makers in India, France Read more: Toyota to Shut Australian Car Plants Ending Local Industry Murray’s iStream design applies motor-sport principles to reduce the weight of a regular vehicle and claims to cut the cost of an assembly plant […]