Financial and technology venture capital companies attracted global investment of $39.57 billion in 2018, Reuters reports. This is 120% more than the rate of 2107 years. The number of deals rose to 1,707 units from 1,480 in 2017. More than half of the total investment accounted for transactions worth more than $100 million. The largest investment was made in Ant Financial, a payment subsidiary of Alibaba Group holding Ltd. The deal cost $14 billion. Last year, five more financial and technology companies reached a capitalization of $1 billion: credit card manufacturer Brex, digital bank Monzo and data aggregator Plaid. Sector companies are increasing their market share and receiving billions of dollars in investment. In the US, financial technology companies received $11.89 billion for 659 transactions. In Europe, there were fewer deals than last year. However, their total value rose to a record $3.53.
On Tuesday, Tesla Inc.’s (TSLA.O) Chief Executive Officer Elon Musk announced that the automotive company would start to open its licensing software to supply powertrains and batteries for other car manufacturers. “Tesla is open ...
Indonesia on Wednesday rolled out a 100 trillion Rupiah ($6.92 billion) loan guarantee scheme for prioritized businesses to keep them afloat as the COVID-19 situation continued to worsen around the world, the country’s finance minister ...
Bloomberg News reported on Thursday that Elon Musk’s Space Exploration Technologies Corp. (SpaceX) is in talks to raise new funds at a valuation of $44 billion. The aerospace company said that it is in discussions with a number of investors ...
China's diesel exports for June fell by 50% year-on-year, a record low since September 2018 as lockdown measures around the world continued to curb fuel demand. China exported has 1.04 million tons of diesel, compared to the 1.45 million and ...
The self-driving car company Waymo LLC and Fiat Chrysler Automobiles NV (FCHA.MI) signed a partnership deal on Wednesday to fully develop self-driving cars, pickups, and SUVs. Waymo, an Alphabet Inc. (GOOGL.O) unit, and Fiat Chrysler said ...