Chinese credit card management firm, 51 Credit, has raised $84 million in Series C+ funding from Harvest Capital and Yintai Group, this is soon after they secured $310 million from Series C funding; the fundraising will help the company establish its own investment fund targeting fintech companies; in total the firm has raised $444 million in equity capital; according to Sun Haitao, 51 Credit CEO, the fund will be launched within a year, and will focus on asset management, data and credit services. Source
Last month as Wirecard was unraveling the UK’s Financial Conduct Authority temporarily suspended Wirecard Card Solutions (WCS) from operating; this...
In the last 18 months there has been a wave of consolidation in the payments sector and that trend looks...
There is a growing competition brewing in the payments space and Affirm is look to stay near the top as they recently announced the move into financing small ticket purchases; the move comes after Visa and MasterCard made similar announcements; the payments space has become a highly competitive market where customers look for the simplest, most transparent way to make a purchase of any size. Source.
As most companies were trying to figure out how to handle the economic downturn Airwallex was able to raise $160mn;...
The Head of Amex’s mobile app, Stewart Kendall, sat down with the Tearsheet Podcast to discuss the shift in customer...
Recommerce marketplaces have given consumers opportunities to save and make money. Payment orchestration has let them down. Until now.
Adyen reported their first quarter results today, giving us a sense of the impact of COVID-19 on the payments space;...
While on the surface Affirm’s business may appear to be focused on lending and payments, the company can also help merchants in marketing; the company has large amounts of data on who is buying products, what they are buying and where they are buying; with this information they plan to offer their merchants more services in the future; Tearsheet shares more on Affirm’s plans. Source
Alibaba has reportedly increased its bid for payments company MoneyGram; Alibaba initially announced the acquisition in January which will broaden its payments network; new terms of the deal increase the offer price to $18 per share from $13.25 and have been approved by the board of directors; the increased deal value follows a competing bid from Euronet Worldwide. Source