Remitly Announces $85M Round; A New DN Unicorn
Remitly, the mobile-first provider of remittances and financial services for immigrants, announced a $85 million funding round to fuel the company’s growth as the global demand for digital remittances continues to surge during the COVID-19 pandemic. Existing investor Prosus’s PayU led the round at a $1.5 billion valuation. They were joined by returning partners Generation Investment Management, Owl Rock Capital, Stripes, DN Capital, Top Tier, Princeville Global, and Threshold Ventures.
Corporate Venture Capital Deals Hit Record As Banks Invest In Fintech
Corporate venture capital funding is at an all-time high and banks are leading the charge. Investments by financial services firms into startups hit a record 329 deals worth a total of $8 billion in 2019.
JD Finance Launches Consumer VC Fund
Chinese e-commerce giant JD.com Inc.'s financial services spin-out, JD Finance, has set up its first consumer-focused early stage venture fund, Qianshu Capital, to back innovative start-ups that help meet increasing consumer demand in China.
Investcorp Appoints El-Erian To International Advisory Board
Alternative investments specialist Investcorp has appointed famed economist and investment manager Dr. Mohamed El-Erian to the company’s advisory board as the company undergoes significant growth. El-Erian will maintain his responsibilities as chief economic advisor to German financial services giant Allianz, Invescorp said in a statement.
Hedge Fund Gigantism Is Not Necessary
<p>A joint survey by the Alternative Investment Management Association and GPP, the financial services firm formerly known as Global Prime Partners, disaggregates the hedge fund industry by size. It finds that the dynamics of the smallest (emerging-funds) sector looks very different once the “billion dollar club” and even the medium-sized group are put to the side.</p>
GE Arm In Talks To Invest In Avaada Power’s Renewable Energy Projects
<span style="text-align: justify; color: rgb(0, 0, 128);"><strong><a href="http://dealstreetasia.com/tag/geefs" rel="noopener noreferrer" style="color: rgb(0, 0, 128);" target="_blank">GE Energy Financial Services (GEEFS)</a></strong></span><span style="text-align: justify;"> is expanding its Indian renewable energy portfolio and is in talks with Avaada Power to invest in the renewable energy projects of the Vineet Mittal-promoted firm, two people aware of the development said.</span>
GE Arm In Talks To Invest In Avaada Power’s Renewable Energy Projects
GE Energy Financial Services is in talks with Vineet Mittal-promoted Avaada Power to invest in its wind and solar power projects
10 Most Important Reads Of The Week - June 30, 2017
It has been an eventful week, and it's easy to fall behind. Here are the 10 most important reads of the week.
GE Energy Financial Services To Invest $90M In RattanIndia’s Solar Power Assets
GE Energy Financial Servicesâ investment will provide dry powder to RattanIndia Group to bid for future solar power projects
Building The ‘Amazon’ Of Financial Services
Mike Cagney is a cofounder and the CEO of SoFi, a personal lending platform created in 2011. Following new regulations introduced after the 2008 Financial Crisis, lending has become a crowded business with increasing participation of institutional investors, asset managers and banks. In this interview with Alex Bangash, CEO of Trusted Insight, during the Trusted Insight Alpha Conference, Cagney reveals how his company finds a competitive edge by probing into the “prime consumer market.” He also shares his vision for the future of fintech and financial innovations.