OLX

Olx Group cuts 800 jobs as it shuts down some markets

Olx Group, the online marketplace and classifieds business arm of Prosus, has cut around 800 jobs globally. Today’s move comes as the company started to close operations of its automotive busine

Prosus in talks to sell Olx Autos business in India, other markets

Prosus is actively engaging with multiple players to explore the sale of classified business Olx’s Autos unit in several markets, including India and Indonesia, according to a source familiar wi

Sylndr, an online used-car retailer, raises $12.6M pre-seed to disrupt Egypt’s automotive market

Egypt is home to one of Africa’s largest vehicle fleets, with over 6 million cars (80% are passenger cars) on its roads. According to this finding, most are used cars; their ratio to new vehicles is

Brazil’s idwall raises $38M for identity validation platform

Online fraud and identity theft is a global problem that has only been exacerbated with increased online transactions amid the COVID-19 pandemic. In particular, it is estimated that Brazilian companie

Armed with $160M in funding, LatAm’s Merama enters the e-commerce land grab

Merama, a five-month old e-commerce startup focused on Latin America, announced today that it has raised $60 million in seed and Series A funding and $100 million in debt. The money was raised “at w

Prosus classifieds group OLX shuts down Frontier Car Group’s Berlin office, OLX Autos to focus on LatAm and Asia

Cazoo is picking up significant capital today by teaming up with a SPAC in the U.S. at a $7 billion valuation, but another big used-car play is consolidating operations. TechCrunch has learned and con

Used car marketplace Carsome gets $30 million Series D for its Southeast Asia growth plans

Carsome, which bills itself as Southeast Asia’s largest e-commerce platform for used cars, announced it has closed a $30 million Series D. The funding was led by Asia Partners, with participation fr

Sinch to buy India’s ACL Mobile for $70 million

Sinch said on Monday it has agreed to buy Indian firm ACL Mobile for £56 million (roughly $70 million) in what is the fourth acquisition deal the Swedish mobile voice and messaging firm has entered i

Jiji raises $21M for its Africa online classifieds business

Pan-African digital classifieds company Jiji has raised $21 million in Series C and C-1 financing from six investors, led by Knuru Capital. The Nigeria-based venture, co-founded by Ukrainian entrepren

Latin America roundup: Neobanks raise $205M+; Softbank backs VTEX

Argentina’s Ualá became the most recent Latin American fintech to receive a growth-stage funding ($150 million) from Asian investors, Tencent and Softbank.  This marks Tencent’s second round of

The Stanford ties to Latin America’s startup renaissance

The houses along the tree-lined blocks of Josina Avenue in Palo Alto, with their big back yards, swimming pools and driveways are about as far removed from the snarls of traffic, sputtering diesel eng

China’s Ctrip now owns half of India’s MakeMyTrip following share swap with Naspers

China’s Ctrip, the world’s second largest online travel company, is doubling down on India after it announced a deal to increase its ownership of travel company MakeMyTrip to nearly half.

Southeast Asia’s Carousell snags $56M from Naspers-owned OLX

It’s taken some time to come around, but Naspers — the early Tencent investor that’s also behind the world’s top listings service — finally has a piece of Southeast Asia&

Consolidation in Africa as classifieds player Jiji acquires their main competitor OLX

As we saw from our recent TechCrunch Battlefield in Africa last year, the continent is producing bigger and bigger tech players, and one can see this in the consolidation in the market. Today Jiji, on

BeliMobilGue raises $10M for its used-car sales platform in Indonesia

BeliMobilGue, a used car sales platform in Indonesia, has fueled up with a $10 million Series round for the race to dominate the automotive market in Southeast Asia’s largest economy. The compan

Africa Roundup: Local VC funds surge, Naspers ramps up and fintech diversifies

Jake Bright Contributor Share on X Jake Bright is a writer, author and advisor with a focus on global business, politics, and technology. From 2017 to 2020, he was a contributing writer and advisor at

Naspers announces $300 million initiative to support startups and tech in South Africa

Naspers announced a $100 million Naspers Foundry fund to support South African tech startups. This is part of a $300 million (1.4 billion rand) commitment by the South African media and investment co

Naspers is in talks to invest in Southeast Asia’s Carousell

Naspers, the South Africa-based firm that famously backed Chinese giant Tencent in its infancy, is in talks to invest in Singapore-based startup Carousell, according to two sources with knowledge of d

Pan-European seed fund firstminute hits a final fund close of $100M

New UK early stage VC firstminute Capital launched in June last year to the tune of $60m, with European VC Atomico as its first cornerstone investor. They were joined by 30 unicorns founders from Euro

South African tech and media conglomerate Naspers made $2.2 billion from Flipkart sale

Naspers, the South African tech and media conglomerate, continues to have an incredibly hot hand when it comes to global tech investment. Famous for owning a huge chunk of the Chinese Internet powerho
Load More