The European Investment Bank (EIB) said Monday (Oct. 7) that European Union (EU) finance ministers have welcomed its Action Plan to deepen the region’s capital markets and provide more support to startups. In discussions at the Eurogroup in Luxembourg, finance ministers supported proposals to finance the scale-up...
Startup failures in the U.S. have surged by 60% in the past year, posing a threat to millions of jobs and potentially impacting the wider economy. Data from Carta, a provider of services to private companies, reveals that 254 venture-backed clients went bankrupt in the...
Visa and innovation platform Plug and Play are accepting applications for the second cohort of the Visa Inclusive Fintech Accelerator, which aims to accelerate the growth of FinTech startups led by diverse founders. The companies are seeking applications from FinTech startups that meet one or...
Hong Kong-based FinTech FundPark reportedly obtained a $250 million private loan led by HSBC. The loan is the second investment of this type FundPark has received this year, Bloomberg reported Monday (June 24). It comes from HSBC’s $3 billion “new economy” facility, which is focused...
Capchase received a 105-million-euro (about $114 million) credit facility warehouse led by Deutsche Bank to support flexible financing for software-as-a-service (SaaS) businesses in the United Kingdom and Europe. The company will do so through Capchase Grow, its solution that offers eligible companies access to non-dilutive financing, Capchase said in...
Mastercard has selected five startups from around the world to participate in its Start Path Blockchain and Digital Assets program. This program is designed to connect Mastercard with industry experts and FinTechs so that they can work together to explore differentiated use cases in which...
In the north of England, the Manchester area has a booming FinTech startup community. But as Bloomberg News reported Thursday, these companies are having trouble attracting the attention of the country’s funding and power base in London. According to the report, citing data from consultancy Whitecap, the number...
BlaBlaCar has raised $108 million in credit as it awaits a better IPO market. CEO Nicolas Brusson told Bloomberg News — in an interview published Wednesday (April 3) — that the French carpooling company enjoyed its first profitable year in 2023 following a “pretty rough”...
With funding becoming scarce, European startups are reportedly turning to convertible debt. These increasingly complicated deals are becoming more and more popular for venture capital (VC)-backed firms, Reuters reported Monday (March 18), though they do risk eventually giving investors greater control. As the report notes, companies were...
