PaymentsNews

On The Web

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Deals

SumUp acquires ‘multi-channel’ e-commerce platform Shoplo

“Terms of the deal aren’t being disclosed, while SumUp says the acquisition will enable it to expand its product suite to give SumUp merchants access to various online marketplaces, such as Facebook, eBay and Etsy. In addition, Shoplo’s tech will also help SumUp merchants create better-looking online storefronts.”
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Deals

SendFriend gets $1.7M for blockchain-based remittance led by MIT, Mastercard

“SendFriend, a New York-based blockchain startup specializing in international money transfer to the Philippines, has raised $1.7 million in pre-seed funding from a group led by MIT Media Lab, Mastercard Foundation, Ripple and Barclays. Other investors include Techstars, Mahindra Finance, 2020 Ventures and 8 Decimal Capital.”
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Deals

Vision Fund backs OakNorth to break European fintech record

“Banking startup OakNorth has raised $440 million from SoftBank‘s Vision Fund and Clermont in the continent’s biggest-ever fintech deal in VC. The investment, which values the London-based business at around $2.8 billion, comes just a month after German challenger bank N26 set the previous record with a $300 million fundraise and days after Berlin-basedRaisin’s $114 million round. “
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Deals

Airtel and Telkom are uniting to take on Safaricom in Kenya

“Indian-owned Bharti Airtel and Telkom Kenya  announced a deal to operate under a joint venture company that will be named Airtel-Telkom. The two companies said the deal comprises their corresponding mobile, carrier, and enterprises services but won’t include Telkom Kenya’s real estate portfolio and specific government services. Telkom Kenya is 60% owned by private equity firm Helios […]
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Deals

Modulr partners with Paxport to transform travel industry payments

“Paxport connects providers and sales channels through its automated merchandising and distribution system for the travel industry. By partnering with Modulr, the company will be able to offer 24/7, real-time payments to its customers and provide tour operators and travel agents with a wider choice of payment options. Modulr’s digital payment accounts will enhance Paxport’s new payment service, Pax2Pay, by enabling customers to pay out […]
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Deals

Alibaba’s Ant Financial buys UK currency exchange giant WorldFirst reportedly for around $700M

“This isn’t your average multi-hundred million dollar acquisition. The deal was confirmed by WorldFirst in a note to customers while Alibaba, which curiously didn’t put out an official press release, acknowledged the acquisition to us through a spokesperson. Yet despite a relatively under-the-radar outing, the deal has potentially significant consequences. It not only underscores the strong market […]
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Deals

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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Deals

Rapyd raises $40 million to expand its payments network worldwide

“Rapyd, a U.K.-based firm that helps companies and merchants of all sizes integrate a range of payment services into their platforms, has raised $40 million in series B funding to further expand its operations worldwide. The round was led by General Catalyst and Stripe and included participation from Target Global, Ignia, and unspecified large strategic payment […]

On The Wires

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Deals

Atlanta-based IDology to Be Acquired by GBG for $300m

“GBG, the UK-headquartered Identity Data Intelligence specialist, today announces that it has conditionally agreed to acquire the entire issued share capital of IDology, a US-based provider of identity verification and fraud prevention services, for $300m (£233m) in an all-cash transaction. IDology is a fast-growing provider of identity verification services that helps remove friction both in onboarding customers and […]