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Posts Tagged ‘banking’

Malware researcher Marcus Hutchins pleads guilty, ending his legal case

Malware researcher Marcus Hutchins has pleaded guilty to two counts of creating and selling a powerful banking malware, ending a long and protracted battle with U.S. prosecutors. Hutchins, a British national who goes by the online handle MalwareTech, was arrested in August 2017 as he was due to fly back to the U.K. following the ...

Cathay Capital and AfricInvest to raise $168M Africa VC fund

Tunisia based private equity firm Africinvest has teamed up with Cathay Capital — a global private equity firm based in Paris — to launch a new Africa tech fund with a target raise of $168 million. Details are still forthcoming, but the Cathay Africinvest Innovation Fund will focus primarily on series A to C stage ...

India’s Cashfree raises $5.5M from Korea’s Smilegate, Y Combinator and others

Cashfree, an India-based startup that specializes in making corporate banking services more accessible and easier to use, has closed a $5.5 million Series A round. The deal is led by Smilegate Investment — the fund affiliated with Korean games firm Smilegate — with participation from Y Combinator, the U.S. accelerator program that Cashfree graduated from ...

Peter Kraus dishes on the market

During my recent conversation with Peter Kraus, which was supposed to be focused on Aperture and its launch of the Aperture New World Opportunities Fund, I couldn’t help veering off into tangents about the market in general. Below is Kraus’ take on the availability of alpha generation, the Fed, inflation versus Amazon, housing, the cross-ownership ...

Aperture’s Peter Kraus takes aim at passive ETFs and the “illusion of free” with new start-up

“We’re breaking beta from alpha. That doesn’t exist anywhere. We’re literally saying, ‘Only pay us for alpha and define beta. Nobody has done that.” That’s an energized quote from legendary Wall Streeter Peter Kraus. For those not familiar with the lingo, I’ll translate: Kraus’s new company Aperture, which has just launched a new mutual fund ...

Africa Roundup: Jumia files for IPO, OneFi acquires Amplify, FlexClub expands in Mexico

Less than a decade ago IPOs, acquisitions, and global expansion by African startups were more possibility than reality. March saw all three from the continent’s tech scene. Pan-African e-commerce company Jumia filed for an IPO on the New York Stock Exchange, per SEC documents and confirmation from chief executive Sacha Poignonnec. In an updated filing, ...

Jio Health combines online and offline healthcare in Southeast Asia, starting in Vietnam

The internet is often lauded for the potential to increase the impact of a range of primary services in emerging markets, including education, commerce, banking and healthcare. While many of those platforms are now being built, a few are finding that a hybrid approach combining online and offline is advantageous. That’s exactly what Jio Health, ...

Forge acquires IRA Services to expand offering for private company shares

Forge, the marketplace for trading private company shares formerly known as Equidate, announced that it will be acquiring custodial trust company IRA Services for a purchase price of $55 million. IRA Services is a trust company that provides custodial services for retirement accounts managed by individuals and mid-to-large sized Institutions. Stripped of financial jargon, the ...

Social investment platform eToro acquires smart contract startup Firmo

Social investing and trading platform eToro announced that it has acquired Danish smart contract infrastructure provider Firmo for an undisclosed purchase price. Firmo’s platform enables exchanges to execute smart financial contracts across various assets, including crypto derivatives, and across all major blockchains. Firmo founder and CEO Dr. Omri Ross described the company’s mission as “…enabl[ing] our ...

Marqeta files to raise $250M on a $1.9B valuation

The world of digital payments continues to power ahead — fuelled by the continuing growth of e-commerce and fintech — and now one of the bigger startups making waves in the sector is raising a huge round of funding. TechCrunch has learned that Marqeta — a payment processing company that works in the area of ...