Today in payments around the world, Khatabook is valued at $600 million after a $100 million Series C fundraising round. Plus, Didi Global pulls back on its U.K. launch plans and McDonald’s reshuffles its international leadership team.
McDonald’s Names New CMO, Market Leaders
Paul Pomroy, CEO of McDonald’s U.K. and Ireland, is the company’s new senior vice president of the international operated markets segment, replacing Manu Steijaert, who was tapped as the company’s first global chief customer officer last month, according to a CNBC report.
Alistair Macrow, the company’s global chief marketing officer, will become chief executive of the U.K. and Ireland division, after serving as CMO for the U.K. and Ireland in the past. Morgan Flatley, who had been chief marketing and digital customer experience officer for McDonald’s U.S.A., will take over for Macrow as global CMO. McDonald’s hired Petco CMO Tariq Hassan to be Flatley’s successor.
Indian FinTech Khatabook Closes $100M Series C At $600M Valuation
FinTech Khatabook closed a $100 million funding round led by Tribe Capital and Moore Strategic Ventures that gives the startup a valuation of almost $600 million, according to a Tuesday (Aug. 24) blog post.
The oversubscribed Series C also had participation by Alkeon Capital, Capital Group, Sequoia Capital, Tencent, RTP Global, Unilever Ventures and Better Capital. Balaji Srinivasan and Sriram Krishnan also took part as independent investors, among others, according to the post.
Didi Cuts Back On UK Launch Amid Regulatory Issues
Chinese ride-hailing giant Didi Global has reined in its plans to launch in the United Kingdom and continental Europe, citing the pressures of an ongoing Chinese regulatory crackdown, Reuters reported.
Didi has stopped hiring in Britain and will be delaying the launch plans by at least a year, according to the report. The company told staff working on the expansions that they face potential redundancy. China has been cracking down on the company over cybersecurity concerns, citing fear of user data leaving the country, the report stated.