Today in Europe, the Middle East and Africa (EMEA) news, two Swedish delivery firms plan to merge, while Indian AgriTech startup Ninjacart launches a platform to help boost trade with the United Arab Emirates and Gulf Corporation Council (GCC) countries.
Swedish Last-Mile Delivery Firms Instabox, Budbee Intend to Combine
Two Swedish-founded last-mile delivery companies, Instabox and Budbee, have announced that they intend to join forces under a new holding company that is to be called Instabee. As a combined company, they will be able to pool their know-how, compete with state-owned players and well-funded competitors, leverage synergies in operations, share technology and further invest in “consumer-centric and sustainable last-mile delivery services for the eCommerce sector.”
Walmart-Backed Indian Startup Ninjacart Launches Import-Export Platform for GCC
Ninjacart, an Indian AgriTech startup backed by Walmart and Tiger Global, has expanded by launching the Ninja Global platform for agricultural export-import businesses in the UAE and GCC. The goal of the platform is to bolster the import-export market for agriculture commodities between the UAE and India
Crypto Exchange Yellow Card Raises $40M in Series B
Yellow Card Financial, a pan-African cryptocurrency exchange, has closed a $40 million Series B funding round. The new capital will be used to fuel growth, develop new products and advance its strategic partnerships across Africa. Since launching in Nigeria in 2019, Yellow Card has sought to make bitcoin, ethereum, stablecoins, and other cryptocurrencies accessible to anyone in Africa.
UK FCA: FTX Not Recognized to Conduct Business in Region
Britain’s top financial regulator is alerting consumers that Sam Bankman-Fried’s cryptocurrency exchange FTX is operating in the United Kingdom without proper authorization. The Financial Conduct Authority (FCA) said the Bahamas-based exchange seems to be offering products and services in the U.K. without having filed with the regulator or receiving authorization
US FinTech WayaPay Launches Digital Bank, Transfer App Aimed at African Immigrants
WayaPay, which describes itself as a Kenyan FinTech based in the United States, has launched its full-service digital bank and money-transfer app tailored to the needs of immigrants from Africa. Hempstone Maroria, who co-founded the app said the app and bank have all their required U.S. approvals.
Queen’s Death: Future of Banknotes, Coins Depicting Era-Defining UK Monarch
During the 70-year reign of Queen Elizabeth II, the currency that bears her face has ridden the ups and downs of the British economy. For many Brits, transacting in the coins and banknotes that bear the queen’s semblance is increasingly rare today. Like the monarchy itself, physical cash plays an important, yet increasingly less prominent, role in British life. As world leaders gathered to pay their respects to an era-defining figure, questions linger over her decades-long legacy. For the pound, the future is almost certainly digital. But in what form? To what extent? And how will the way Britons spend and think about money change as a result?
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