Tag: finance
Daily Crunch: China presents ‘rectification’ plan for Ant Group
The Chinese government could reshape Ant Group’s business, Tesla plans to launch in India next year and the FAA announces a new ID requirement for drones. This is your Daily Crunch for December 28, 2020. The big story: China presents ‘rectification’ plan for Ant Group Less than two months ago,…
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China lays out ‘rectification’ plan for Jack Ma’s fintech empire Ant
What a whirlwind holiday for Jack Ma and his fintech empire. The People’s Bank of China, the country’s central bank, summoned Ant Group for regulatory talks on December 26th, announcing a sweeping plan for the fintech firm to “rectify” its regulatory violations. The meeting came less than two months after…
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XRP cryptocurrency crashes following announcement of SEC suit against Ripple
The value of one of the world’s most valuable cryptocurrencies is crashing and a recently filed SEC complaint is at the root of the free fall. According to CoinMarketCap, the XRP token’s value has declined more than 42% in the past 24 hours and is down more than 63% from…
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Liberis, the embedded finance provider for SMEs, raises additional £70M in equity and debt
Liberis, the U.K.-based fintech that provides finance for small businesses as an alternative to a traditional bank loan or extended overdraft, has replenished its own coffers with £70 million in funding. The round is a mixture of equity and debt, although the company is declining to disclose the percentage split,…
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Extra Crunch roundup: ‘Nightmare’ security breach, Poshmark’s IPO, crypto boom, more
The rest of the world may be slowing down as we prepare for Christmas and the new year, but we are not taking our foot off the gas. Alex Wilhelm keeps a close watch on the public markets in his column The Exchange, but this week, he branched out to…
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Lydia raises another $86 million to build European financial super app
French fintech startup Lydia has extended its Series B round. Accel is leading the extension with all major existing shareholders also participating. Lydia first raised $45 million in January 2020 — Tencent led that investment. The startup is now raising another $86 million, which means that Lydia has raised $131…
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