Tag: finance
Unpacking Sequoia’s $21M conflict of interest
Yesterday, TechCrunch broke the news that Sequoia, one of the best-known venture capital firms in the market today, had “parted ways with [Finix] over a purported conflict of interest and, almost more shockingly, handed back its board seat, its information rights, its shares and its full investment.” Sequoia led the…
Read More
Insurance AI startup Synthesized raises $2.8M from IQ Capital and Mundi Ventures
The insurance industry depends on data to support a number of functions the average person in the street is usually completely unaware of such as “informed risk selection”, underwriting and claims management. Like many industries, it would like to automate much of this but it’s just not that simple. Synthesized…
Read More
Sequoia is giving away $21 million to a payments startup it funded as it walks away from deal
In the world of venture capital, where trust between investors and founders is paramount to the success of both, investing in a company that competes with another startup in a firm’s portfolio is a no-no. Still, in a case that takes this understanding to a brow-raising extreme, Sequoia Capital has,…
Read More
Visa partners with Paga on payments and fintech for Africa and abroad
Visa has entered a partnership with Nigeria based startup Paga on payments and technology. Founded in Lagos, Paga scaled its fintech business in West Africa, before targeting expansion in Ethiopia and Mexico. The startup has created a multi-channel network for over 14 million customers in Nigeria to transfer money, pay-bills…
Read More
Stocks fall again on continued coronavirus worries
Is it good news to say that stocks fell less sharply than they had on previous days? That’s the bright side of another turbulent trading day across the Nasdaq and New York Stock Exchange. The major indices were down again — although their declines were less severe than they had…
Read More
India’s Yes Bank breakdown disrupts Walmart’s PhonePe among a dozen other services
Tens of millions of merchants and users in India are struggling to make online transactions and use some of their popular services after the nation’s central bank seized control of Yes Bank, the fourth largest lender in the country. The emergency takeover of the private sector bank has disrupted several…
Read More