In today’s top payments news around the world, Swedish peer-to-peer (P2P) lending upstart Lendify has reportedly secured $115 million of funding, while international trade platform Contour has teamed with information technology (IT) solutions firm Mphasis. Plus, Ant Group has received approval from top security regulators for its Shanghai offering.
Lendify reportedly locked in $115 million in funding from Insight Investment, which had supported the online lender with a 1.5 billion kronor (approximately $171 million) infusion in 2019. Lendify said the newest funding round will help the firm advance its European growth plans. Co-Founder and Chief Executive Officer Nicholas Sunden-Cullberg said the infusion will also assist the 2014 startup in taking control of the consumer loan space.
Contour has joined forces with Mphasis to accelerate digital transformation of international trade finance. Mphasis will harness its Front2BackTM Transformation procedure and its next-generation IT aside from operations functions to assist in accelerating the commissioning and utilization of the Contour network via partners, banks and businesses.
Ant Group has received the go-ahead from China’s leading security regulators for its Shanghai offering, the last obstacle to clear for what's anticipated to be a $35 billion dual listing. Ant reportedly intends to list in Shanghai and Hong Kong at the same time in the few weeks to come. The Hong Kong sale is being managed by Citigroup, China International Capital Corp., Morgan Stanley and J.P. Morgan.
Grab is reportedly experiencing a strong recovery, with revenue said to be rebounding to 95 percent of pre-COVID levels per a company newsletter. “Our business recovery continues steadily, with Q3 group revenues climbing to over 95% of pre-COVID-19 levels,” Grab President Ming Maa said in a recent newsletter. SoftBank is among the largest investors in Grab, which has grown from a ridesharing upstart in 2012 to a multi-faceted tech firm that was last worth $14 billion.