Categories money

10 posts

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Interswitch CEO Mitchell Elegbe to discuss African fintech at TechCrunch Disrupt

The CEO of Pan-African fintech unicorn, Mitchell Elegbe, is set to speak at TechCrunch Disrupt 2020 on September 16. He founded the company in Lagos in 2002 to connect Nigeria’s — then — largely disconnected banking system. Over the next decade plus, Interswitch accelerated the adoption of digital payments across […]

As it adds Jeremy Milken to the partnership, Watertower Ventures nears $50 million close for its new fund

Derek Norton and Jeremy Milken have known each other for twenty years. Over their longtime personal and professional relationship, the two Los Angeles-based serial entrepreneurs have invested in each other’s companies and investment firms, but never worked together until now. Milken is taking the plunge into institutional investing, joining Norton […]

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All bets are off as Hertz pulls plan to issue $500 million in new stock

Hertz, which filed for bankruptcy last month, halted its $500 million stock offering Wednesday after the U.S. Securities and Exchange Commission told the rental company it would review its controversial plan to sell shares that could soon be wiped out completely. Hertz disclosed Monday that it would issue a $500 […]

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Brazil’s BizCapital raises $12 million for its online lending service

BizCapital, an online lender based in Brazil, has raised $12 million from a clutch of investors including the German development finance institution, the corporate venture capital fund of MercadoLibre and existing investors Quona Capital, Monashees, Chromo INvest and 42K Investments. “This latest round reinforces investors’ confidence in BizCapital’s ability to […]

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As venture firms struggle with diversity, the Kauffman Foundation is grooming candidates to help

Recognizing the need for a more diverse venture capital industry, the Ewing Marion Kauffman Foundation is looking to take steps to train its most diverse class of would-be investors and is adding to its board to foreground diversity and inclusion going forward, the non-profit said today. A longtime resource for […]

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Vista Partners founder calls for a fintech revolution to help pandemic-hit, minority-owned small businesses

The head of what is arguably private equity’s most successful technology investment firm — Vista Equity Partners — made a rare appearance on Meet The Press to discuss the steps that the country needs to take to help minority-owned businesses recover from the economic collapse caused by the COVID-19 epidemic. […]

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Uber pushes adjusted quarterly profit target to 2021

Uber has pushed its target to achieve a measure of profitability to a quarter in 2021, reversing a decision made just three months ago to move up the goal to the end of this year. Uber will miss its target to reach an adjusted EBITDA quarterly profit in the fourth […]

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Saving, not spending, is the new hotness in fintech

Hello and welcome back to our regular morning look at private companies, public markets and the gray space in between. Yesterday news broke that Robinhood is on the hunt for new capital at a roughly flat valuation, per friend of the blog Katie Roof. If you are a bit confused […]

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New guidance on SBA loans means most startups are still excluded from $349 billion stimulus

Under new guidance issued by the Small Business Administration it seems non-profits and faith-based groups can apply for the Paycheck Protection Program loans designed to keep small business afloat during the COVID-19 epidemic, but most venture-backed companies are still not covered. Late Friday night, the Treasury Department updated its rules […]

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ARCH Venture Partners raises $1.46 billion across two funds for biotech investing

Against a backdrop where the life-or-death consequences of biotechnology innovation are becoming increasingly apparent as the world races to develop vaccines and therapies to treat COVID-19, life sciences investor ARCH Venture Partners has raised $1.46 billion in funding to finance new tech development. The two funds, ARCH Venture Fund X […]