Today In Payments Around The World: KreditBee Lands $75 Million In Series C Round; Lakestar’s Hommels Launches SPAC

Today In Payments Around The World: KreditBee Lands $75 Million In Series C Round; Lakestar’s Hommels Launches SPAC

In today’s top payments news around the world, India-based KreditBee has raised $75 million in a Series C round, while Lakestar Founder Klaus Hommels has launched a special purpose acquisition company (SPAC). Plus, Chinese retail solutions startup DMall is said to be considering a plan to file an initial public offering (IPO).

Indian Digital Lending Startup KreditBee Raises $75 Million

Bengaluru-based KreditBee landed $75 million in a Series C round, which featured participation from Arkam Ventures, Alpine Capital, Mirae Asset Naver Asia Growth Fund and Premji Invest. KreditBee was rolled out in 2018 to focus on full-stack online lending for young professionals. Salaried and self-employed individuals alike can access online loans and consumer durable loans on the platform.

Lakestar’s Klaus Hommels Latest To Join SPAC Craze In Europe

Lakestar Founder Klaus Hommels has rolled out a blank-check company, Lakestar SPAC I SE, with the aim of purchasing a tech company in Europe. The Luxembourg-based SPAC will list on the Frankfurt Stock Exchange. Hommels seeks to bring in 275 million euros or $331 million from the listing. The news comes as it was reported that Europe has been slow to become a part of the SPAC boom that is trending in the U.S.

Chinese Retail Solution Platform DMall Ponders Public Filing

Chinese retail solutions upstart DMall, backed by supermarket chain Wumart Group, is reportedly mulling a plan to file for an IPO. DMall is said to be working with advisors to roll out a public offering in the latter half of this year. The company, which is based in Beijing, cold ultimately land approximately $500 million if it goes public. DMall, which was established in 2015, provides tools to help merchants roll out eCommerce operations.

China’s eCommerce Giant JD.com Plans IPO For Shipping Division

JD.com, which is sometimes referred to as China’s Amazon, said it intends to take its shipping business public in Hong Kong. The firm aims to take advantage of China’s pandemic-triggered online commerce boom. JD.com bills itself as the top direct online seller in China.

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