Kredivo to Go Public Through Merger Deal With SPAC

FinAccel, the parent company of leading digital consumer credit platform is Southeast Asia Kredivo says that it has reached an agreement to go public through a merger deal with a special purpose acquisition company (SPAC,) VPC Impact Acquisition Holdings II (VPCB). The company says the deal is a buy-now-pay-later (BNPL) and it’s worth $2.5 billion […]

Square Set to Acquire Afterpay in a $29 Billion Deal

Digital service payment company and financial service provider Square Inc. (SQ) will be leading a $29 billion buyout deal for Australia based financial technology company Afterpay Ltd. (ASX: APT). Square says this deal will be a buy-now-pay-later (BNPL). This deal takes into account the remarkable rally of Afterpay’s stock which in the beginning of last […]

Softbank Selling 45 Million Uber Shares

Japanese multinational company investing in technology, financial and energy sector Softbank Group Corp. (TYO: 9984) is looking forward to sell 45 million of its shares in Uber Technologies Inc. (UBER). This information was revealed by an insider source. The insider source who sought anonymity, says any buyer interested in these shares will have a 30-day […]

Reckitt Posts Mixed Results in the Second Quarter

London based producer of health, hygiene and nutrition products Reckitt Benckiser Group (LON: RKT) has released its results for the second quarter in which it registered declined sales in the quarter further warning of costs will hit margins. For the second quarter ended June 30, sales in the health business of the company which consists […]

China’s Bank Regulator Cautions of Increasing Bad Loans

The regulator of insurance, commercial and investment banks in China, China Banking and Regulatory Commission (CBIRC) has issued a warning suggesting banks in the country are facing an increasing threat of bad loans which are mainly due to uneven methods of recovery used by the financial institutions. The regulator claims that bad loans are at […]

Flipkart to Have a $37.6 Billion Valuation After Upcoming Financing Round

Walmart Inc. (WMT) owned online retailer Flipkart is expecting to sit on a $37.6 billion market valuation after its incoming financing round in which tech investor Soft Bank Group (TKY: 9984) will take part as an investor in the funding round. Soft Bank will be pumping in a $3.6 billion investment in the upcoming financing round. […]

Fintech Startup Clearco Fetches $215 Million in Latest Financing Round

Toronto based fintech startup which provides capital to online companies Clearco announced having raised $215 million from its latest financing round led by high ranking investors including Japanese conglomerate Softbank Group Corp. (TYO: 9984). Clearco was established in 2015 by Canadian investors and entrepreneurs Michele Romanow and Andrew D’Souza. Romanow has her reality TV show […]

Wise Direct Listing to Leave the Company With a $11 Billion Market Valuation

London based financial technology company Wise is set to have an $11 billion (8 billion pounds) market capitalization after its direct listing on the London Stock Exchange. The shares will make their market debut on July 7 in which the company indicated they will open at 800 pence. The auction process has already kicked off […]

General Motors Expands its Design Studio in China

United States auto manufacturer General Motors Co. (GM) says that it has expanded its studio design in China which will only be focusing on developing electric and connected cars. GM says that going forward the Chinese design studio will no longer design petrol vehicles. Not long ago, the GM which is the largest vehicle manufacturer […]

Didi Raises $4.4 Billion From United States IPO

China based ride hailing company operating passenger transportation platform Didi Global Inc. (DIDI) announced having fetched a staggering $4.4 billion from its U.S initial public offering held on June 29. The company sold 317 million American Depositary shares (ADS) with each share going for $14. Earlier on, Didi had said that it would be floating […]