In today’s top Europe, Middle East and Africa (EMEA) news, Swedish delivery company Instabox has raised $190 million in growth equity, while money automation startup Flow Your Money brought in 3.5 million euros (about $3.8 million) to further help freelancers with money management.
Delivery service Instabox has raised $190 million in a growth equity round that valued the Swedish company at north of $1 billion. Instabox plans to use the funding to expand throughout Europe, upgrade its tech stack, and invest in sustainability.
Flow Your Money’s new funding round will help the money automation company increase its abilities to assist freelancers with money management and automating their budgets. The startup also helps users divide their funds into pre-determined spending and savings silos.
With Visa and Mastercard leaving Russia in response to Russia’s invasion of Ukraine, Russian and Chinese payment systems have stepped in to fill in the gap. Russia-based National Card Payment System and China-based UnionPay have seen an increase in use.
Ryde, a delivery driver network launched Houly+, an optional shift-based payment model for drivers, following several weeks of trials to “increase fulfilment rates for on-demand deliveries, particularly for clients in the grocery and retail space.”