Finance

  • Online Lending Platform WeLab Gets $160M Series B To Expand In China

    Online Lending Platform WeLab Gets $160M Series B To Expand In China

    WeLab, an online lending platform based in Beijing and Hong Kong, will launch more financial products in China after landing an impressive $160 million Series B. The round was led by Khazanah Nasional Berhad, Malaysia’s strategic investment fund, with participation from ING Bank and Guangdong Technology Financial Group, which is run by the Chinese government. Read More

  • Jack Dorsey Has A Lot Of Work To Do

    Jack Dorsey Has A Lot Of Work To Do

    Twitter stock is seeing a mini-rally today after hitting an all-time low yesterday, on rumors that News Corp was eyeing a tie-up with the company. Twitter didn’t comment on the report, and News Corp apparently denied the rumor, but the fact that the rumor surfaced and picked up speed so quickly points to just how precarious the company feels right now as a public stock and perhaps as… Read More

  • BlueVine Raises $40 Million To Help Small Businesses With Cash Flow

    BlueVine Raises $40 Million To Help Small Businesses With Cash Flow

    Another big bet on fintech, Palo-Alto based BlueVine has raised $40 million to provide credit lines for small businesses. The round is led by Menlo Ventures, with participation from Rakuten, Lightspeed and 83North. While there are countless startups involved in small business lending, BlueVine does something a little different. Instead of offering loans, BlueVine does what’s called… Read More

  • After Cancelling Its IPO, Deezer Raises Another $109M From Access And Orange

    After Cancelling Its IPO, Deezer Raises Another $109M From Access And Orange

    Deezer, the Paris-based music and other audio streaming service with 6.3 million users that planned but ultimately cancelled an IPO last year, has now tapped existing investors for more funding. Today the company is announcing that it has raised another €100 million ($109 million), led by Warner Music Group owner Access Industries and with participation also from French carrier… Read More

  • Bitcoin Exchange Kraken Acquires Coinsetter To Expand To The U.S.

    Bitcoin Exchange Kraken Acquires Coinsetter To Expand To The U.S.

    According to Bitcoinity, Kraken is the largest EUR bitcoin exchange in the world with Bit-x and Gatecoin not far behind. But Kraken has one weakness — there isn’t much volume when it comes to other currencies. The company is trying to fix that by acquiring Coinsetter to expand to the U.S. and Canada — for real this time. Read More

  • HTC Denies Reports It Will Spin Its VR Business Into A Standalone Company

    HTC Denies Reports It Will Spin Its VR Business Into A Standalone Company

    Virtual reality is becoming a major focus for struggling smartphone maker HTC, but not so major that it will spin out its VR business into a standalone company. Read More

  • A Global Perspective Of Israeli Tech In 2015 Crunch Network

    A Global Perspective Of Israeli Tech In 2015

    From the Chinese stock market crash that shook global equity markets to the obsession with hunting for unicorns, 2015 was a year filled with volatility and non-traditional capital flowing into the private markets. Israel felt the effects of these global trends. Whether it’s sectors like cyber and fintech heating up or syndications and co-investments leading to increased round sizes… Read More

  • Twitter, And Pretty Much Everyone Else, Had A Bad Day

    Twitter, And Pretty Much Everyone Else, Had A Bad Day

    Today was not a good day for tech stocks. Universally, tech stocks crashed today alongside everything else, erasing billions in value across the board, as part of a bad day overall for the market. There’s not a whole lot of confidence throughout the market, but tech — even bellwethers like Apple — weren’t safe today. That being said, some stocks got particularly hammered… Read More

  • Mobile Payment Platform Minkasu Raises $1M Seed Round

    Mobile Payment Platform Minkasu Raises $1M Seed Round

    It faces several formidable rivals, but Minkasu believes it has developed the easiest way to make mobile payments. The startup’s iOS and Android app stores encrypted credit card information, does not need passwords, and lets shoppers complete transactions with one click. Read More

  • With $90 Million In New Funding And Unicorn Status, Anaplan Looks Ahead to IPO

    With $90 Million In New Funding And Unicorn Status, Anaplan Looks Ahead to IPO

    Anaplan announced a $90 million round today at a valuation of S1.09 billion after funding, putting the company squarely in unicorn territory, those companies with valuations of a billion or more. What’s more, CEO Fred Laluyaux said this will be the last private round prior to an IPO some time in “the not-too-distant future.” To that end, he announced that the company… Read More

  • CoinDesk Gets Acquired By Digital Currency Group

    CoinDesk Gets Acquired By Digital Currency Group

    CoinDesk, one of the leading bitcoin news sites, has been acquired by Digital Currency Group according to a post on the company’s site. A source close to CoinDesk tells TechCrunch the price of the deal was around $500-600k. The bitcoin news site, which launched in 2013, had raised around $2 million in undisclosed funding from investors and according to our source had been trying to sell… Read More

  • Singapore-based Xfers Lands $2.5M To Simplify Bank Transfers For Online Sellers

    Singapore-based Xfers Lands $2.5M To Simplify Bank Transfers For Online Sellers

    Xfers, a startup that wants to simplify bank transfers, announced today that it has raised a $2.5 million seed round. Based in Singapore, Xfers plans to use the funding to expand into Indonesia during the first quarter of this year before tackling other markets in Southeast Asia. The Y Combinator alum will also continue building its technology platform, which can be integrated with many… Read More

  • Paytm Acquires Personal Assistant App Shifu To Improve Its Artificial Intelligence Tech

    Paytm Acquires Personal Assistant App Shifu To Improve Its Artificial Intelligence Tech

    Paytm, the Indian mobile commerce company backed by Alibaba, announced today that it has acquired Shifu, a personal assistant app for smartphones. The value of the deal was not disclosed, but Paytm senior vice president Kiran Vasireddy confirmed that it is close to the $8 million reported by new outlets like the Times of India. Read More

  • Recognizing Probabilities In Budgeting And Forecasting Crunch Network

    Recognizing Probabilities In Budgeting And Forecasting

    Based on practical experience with hundreds of early stage companies over many years, we generally recommend the following budgeting best practices. We call it the Bessemer Optimal Budget, and it involves explicitly recognizing probabilities in budgeting and forecasting. Read More

  • Samsung Pay Will Launch Online Payments In the U.S.

    Samsung Pay Will Launch Online Payments In the U.S.

    Samsung Pay plans a major expansion in the United States next year. Users will be able to make purchases on websites with Samsung Pay, which puts it into more direct competition with services like Paypal, Reuters reports. The mobile wallet platform will be also available on lower-end Samsung smartphones, not just flagship models like the Galaxy S6 Edge. Read More

  • Can Fintech Fix Financial Services? Crunch Network

    Can Fintech Fix Financial Services?

    A review of the new Michael Lewis movie The Big Short describes a scene during the 2008 financial crisis in which renters were “kicked out of their homes because their landlord didn’t pay the mortgage, even though they were making their rent payments in full.” It serves as one of many examples of how our malfunctioning financial system produces fundamentally unfair outcomes. Read More

  • Three Ways To Stay Current In The Financial Services Industry Crunch Network

    Three Ways To Stay Current In The Financial Services Industry

    The financial services industry is a cutthroat market with razor-thin margins, making it one of the toughest industries in which to generate profit. Yet, for fintech startups, it is one of the least chartered, most lucrative sectors. Accenture recently reported that fintech investments grew 201 percent in 2014 compared to the previous year. As a comparison, overall venture capital investments… Read More

  • 9 Of The Worst Performing Tech Stocks In 2015

    Who said making money in the stock market is easy? In a year the market was essentially flat, a few tech stocks had a really tough time staying afloat. Companies like Twitter, Groupon, and Yahoo all suffered at the hands of the public markets. Click through to read about nine of the worst performing public technology companies of 2015. And, check out part one which highlighted some of… Read More

  • Toshiba To Cut 7,800 Jobs, Forecasts Record $4.5 Billion Loss

    Toshiba To Cut 7,800 Jobs, Forecasts Record $4.5 Billion Loss

    Just in time for CES, consumer electronics giant Toshiba announced another wave of layoffs. This time, the company plans to axe 6,800 jobs in the consumer electronics business. It represents around 30 percent of the consumer electronics division, or 3 percent of Toshiba’s workforce. In addition to these cuts, 1,000 people in the corporate staff will also lose their job as part of an… Read More

  • Following Patent Deal, Every Time Apple Sells An iPhone, Ericsson Gets A Bit Of Money

    Following Patent Deal, Every Time Apple Sells An iPhone, Ericsson Gets A Bit Of Money

    Telecommunications infrastructure company Ericsson just announced that it has reached an agreement with Apple over an ongoing patent dispute. For the next seven years, Apple will pay a fraction of its iPhone and iPad profit to Ericsson in royalties. Read More