Report: WeWork expected to cut 500 tech roles

The WeWork saga continues this week with new reports the company may slash as many as 500 tech roles. The co-working business, whose eccentric co-founder and chief executive officer Adam Neumann stepped down two weeks ago, is expected to let go of 350 employees within its corporate division, The Information reports. Initial cuts will be […]

PayPal is the first company to drop out of the Facebook-led Libra Association

PayPal has become the first company to walk away officially from Facebook’s Libra, a cryptocurrency and related association that it announced earlier this year with a chain of nearly 30 big names behind the effort to help build and operate services around it. “PayPal has made the decision to forgo further participation in the Libra Association […]

IEX’s Katsuyama is no flash in the pan

When you watch a commercial for one of the major stock exchanges, you are welcomed into a world of fast-moving, slick images full of glistening buildings, lush crops and happy people. They are typically interspersed with shots of intrepid executives veering out over the horizon as if to say, “I’ve got a long-term vision, and […]

Plaid announces strategic investment from Mastercard and Visa

When Plaid announced its $250 million Series C investment last year, it left out a couple of key investors. Today it revealed that Mastercard and Visa quietly participated in the round. For a company like Plaid, which builds APIs to enable customers to access their bank accounts inside applications in a seamless way, having the […]

America’s largest companies push for federal online privacy laws to circumvent state regulatory efforts

As California moves ahead with what would be the most restrictive online privacy laws in the nation, the chief executives of some of the nation’s largest companies are taking their case to the nation’s capitol to plead for federal regulation. Chief executives at Amazon, AT&T, Dell, Ford, IBM, Qualcomm, Walmart and other leading financial services, […]

Europe’s antitrust chief, Margrethe Vestager, set for expanded role in next Commission

As the antitrust investigations stack up on US tech giants’ home turf there’s no sign of pressure letting up across the pond. European Commission president-elect Ursula von der Leyen today unveiled her picks for the next team of commissioners who will take up their mandates on November 1 — giving an expanded role to competition […]

Elliptic banks $23M to shrink crypto risk, eyeing growth in Asia

Crypto means risk. To UK company Elliptic it also means business. The startup has just closed a $23M Series B to step up growth for a crypto risk-management play that involves selling tech and services to help others navigate the choppy darks of cryptocurrencies. The round was led by financial services and asset management firm […]

Financial services marketplace CompareAsiaGroup raises $20 million in new funding led by Experian

Experian, one of the largest credit reporting bureaus in the United States, announced today that it has invested in CompareAsiaGroup, the financial services marketplace. Experian led the initial closing of a $20 million B1 round. In addition to new funding, the investment also gives Hong Kong-based CompareAsiaGroup access to Experian’s technology, including Experian One, a […]

Remitly raises $220M to expand from money transfers to financial services, now at ~$1B valuation

When it comes to financial services in emerging markets, remittances — people sending money to each other across international borders, often not to established bank accounts — continues to be one of the biggest, with the World Bank estimating that $529 billion was sent in and out of lower-income countries in 2018, up 9% over […]

PayU, Naspers’ global fintech firm, enters Southeast Asia with acquisition of Red Dot Payment

PayU, the Naspers owned fintech firm that specializes in emerging markets, is broadening its global reach into Southeast Asia after it announced a deal to buy a majority stake in Singapore-based Red Dot Payment. Naspers is best known for its payments and fintech business in markets like India, Latin America, Africa and Eastern Europe, but […]