Payments News

On The Web

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Deals

Challenger Bank Judo Raises $400 Million

“Challenger bank Judo has raised $400 million in the biggest individual private funding round by an Australian start-up, making its founders multimillionaires on paper. The equity raise is record-breaking when combined with Judo’s $140 million raise last year and values the bank at $1.5 billion to $2 billion over the next two years.”
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Companies

Square Sells Food Delivery App to DoorDash as It Chases Profit

“Square Inc. is selling its Caviar food-delivery app to DoorDash Inc. for $410 million, as the money-losing payments company searches for profits.    The sale was disclosed as part of Square’s quarterly financial report Thursday, which failed to impress investors. The stock fell as much as 9% in extended trading.   For Square, the sale […]
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Deals

Toss Operator Viva Republica Secures $64m at $2.2b Valuation

“South Korean unicorn startup Viva Republica, the creator of mobile financial service platform Toss, has secured $64 million at a valuation of $2.2 billion in recent fundraising led by Hong Kong-based equity investment firm Aspex Management, the company said Aug. 8. Joined by returning investors, this round will bring the total raised to date to about […]
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Deals

Penta, the German Business Banking Startup, Raises €8M Additional Funding

“The round is led by HV Holtzbrinck Ventures . Also participating is Finleap, alongside Fabrick, the Italian platform for open banking and fintech services, which is another of Penta’s existing shareholders. The startup raised a €7 million Series A round in late 2018 , and is thought to have had more than €18 million investment […]
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Deals

KKR to Acquire Majority Stake in German Fintech Heidelpay From AnaCap

“heidelpay Group (“heidelpay”) and its majority shareholder AnaCap Financial Partners (“AnaCap”), a European financial services specialist investor, have today reached an agreement on the terms of an investment from KKR, a leading global investment firm. KKR will acquire a majority shareholding in the company, with Mirko Hüllemann, founder and CEO of heidelpay, and other key […]
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Deals

Klarna Becomes Europe’s Most Valuable Fintech Firm With New $5.5 Billion Valuation

“Swedish payments startup Klarna has raised $460 million from investors who valued the company at $5.5 billion, some $2 billion more the next most valuable consumer-facing fintech firms in Europe—currency exchange app TransferWise and mobile banking app N26. Klarna’s platform allow’s people to “shop now and pay later”. Shoppers can choose to pay the full […]

On The Wires

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Deals

FIS Closes Acquisition of Worldpay, Enhancing Its Global Technology Leadership Serving Merchants, Banks and Capital Markets

“FIS  today announced the closing of its acquisition of global payments leader Worldpay, Inc., creating a global leader in technology and solutions for merchants, banks and capital markets. The combined company will have over $12 billion in pro forma revenue and more than 55,000 employees. With a best-in-class portfolio of solutions for payments, banking and […]
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Deals

Zelis and RedCard to Combine in Landmark Healthcare Technology and Payments Transaction

“Zelis Healthcare  and RedCard Systems today announced a definitive agreement to merge their respective organizations, forming the next generation leader in healthcare payments optimization. The combination of Zelis and RedCard will create the healthcare industry’s first payments optimization platform with market-leading technology and solutions to price claims, pay claims and explain claims, all at enterprise […]
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Deals

FreshBooks Announces Strategic Investment From JPMorgan Chase

“The investment from JPMorgan Chase follows two previous institutional funding rounds for FreshBooks, including a $30 million USD ($40M CDN) Series A funding round in July 2014, and a $43 million USD ($57M CDN) Series B funding round in July 2017. As part of the investment, a JPMorgan Chase representative will be joining FreshBooks’ board […]
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