In the north of England, the Manchester area has a booming FinTech startup community. But as Bloomberg News reported Thursday, these companies are having trouble attracting the attention of the country’s funding and power base in London. According to the report, citing data from consultancy Whitecap, the number...
BlaBlaCar has raised $108 million in credit as it awaits a better IPO market. CEO Nicolas Brusson told Bloomberg News — in an interview published Wednesday (April 3) — that the French carpooling company enjoyed its first profitable year in 2023 following a “pretty rough”...
With funding becoming scarce, European startups are reportedly turning to convertible debt. These increasingly complicated deals are becoming more and more popular for venture capital (VC)-backed firms, Reuters reported Monday (March 18), though they do risk eventually giving investors greater control. As the report notes, companies were...
Financial services technology firm FIS has launched its 2024 FIS Fintech Hangout Series. The program, announced Wednesday (Jan. 31), connects FinTech startups, investors, financial institutions, FIS experts and participants from the FIS Fintech Accelerator Program. “This series will spark meaningful conversations, share best practices and showcase the amazing...
Visa launched the second cohort for its Africa FinTech Accelerator program. The program aims to provide mentorship, training and networking opportunities to startups in Africa, the digital payments firm said in a Monday (Jan. 29) press release. It is accepting applications until Feb. 29. Open to seed to Series A...
Venture capital fundraising in the United States has reached its lowest level in six years, according to recent data. The annual fundraising figure for 2023 is on track to be the lowest since 2015, with a decline of more than 50% compared to the previous...
Startups had a rough 2023, with the value of venture investments hitting a four-year low. As Bloomberg News reported Thursday (Jan. 4), investors spent the last year funneling money into artificial intelligence (AI) firms, though other tech companies struggled. The report, citing data from PitchBook,...
With Frontdesk reportedly laying off its whole staff, it seems that amid ongoing financial challenges, short-term rental models may not present a needed enough solution to push past consumers’ tendency to stick with the familiar. The startup, which managed 1,200 furnished units across 170 buildings...
A dearth of new funding rounds has reportedly triggered a wave of startup layoffs. This year saw more than 250,000 tech workers lose their jobs, including sweeping cuts at massive companies like Meta and Google, Bloomberg reported Thursday (Dec. 14). Thousands of those cuts also...