Forget the casino, bankrupt Hertz can now sell up to $1 billion in stock – TechCrunch

[ad_1] Hertz, the rental car company that is going through Chapter 11 bankruptcy proceedings, can now sell up to $1 billion in stock as it seeks to tap into one of the hottest tickets in town: traders with an appetite for short-term speculative bets. . The decision Friday by the U.S. Bankruptcy Court for the…

AngelList India head Utsav Somani launches micro VC fund to back 30 early-stage startups – TechCrunch

[ad_1] As investors get cautious about writing new checks to early stage startups in India amid the coronavirus outbreak, AngelList’s head in India is betting that this is the right time to back young firms. On Wednesday, Utsav Somani announced iSeed, a micro VC fund to back up at least 30 startups over the course…

India’s Khatabook raises $60 million to help merchants digitize bookkeeping and accept payments online – TechCrunch

[ad_1] Khatabook, a startup that is helping small businesses in India record financial transactions digitally and accept payments online with an app, has raised $60 million in a new financing round as it looks to gain more ground in the world’s second most populous nation. The new financing round, Series B, was led by Facebook…

Vista Partners founder calls for a fintech revolution to help pandemic-hit, minority-owned small businesses – TechCrunch

[ad_1] The head of what is arguably private equity’s most successful technology investment firm — Vista Equity Partners — made a rare appearance on Meet The Press to discuss the steps that the country needs to take to help minority-owned businesses recover from the economic collapse caused by the COVID-19 epidemic. Robert F. Smith is…

Uber pushes adjusted quarterly profit target to 2021 – TechCrunch

[ad_1] Uber has pushed its target to achieve a measure of profitability to a quarter in 2021, reversing a decision made just three months ago to move up the goal to the end of this year. Uber will miss its target to reach an adjusted EBITDA quarterly profit in the fourth period of 2020, CFO…

Autotech Ventures raises more than $150 million with an eye on ground transportation startups – TechCrunch

[ad_1] Autotech Ventures popped on the scene three years ago with a $120 million debut fund and a plan to invest in early-stage ground transportation startups. Now, with investments in 26 startups and a handful of exits, including Xnor.ai, DeepScale and Frontier Car Group, the venture firm is back with a new, bigger fund and…

Visa connects to M-Pesa, Flutterwave enters e-commerce – TechCrunch

[ad_1] It seems the demand for Safaricom’s M-Pesa payment product never eases. Since its 2007 launch in Kenya, the fintech app has commanded over 70% of the mobile money market in that country. When COVID-19 hit the East African nation of 53 million in March, the Kenyan Central Bank turned to M-Pesa as a public…

In Nigeria PalmPay waives fees and creates ₦100M COVID-19 payout fund – TechCrunch

[ad_1] Africa focused payment startup PalmPay will waive transfer fees in Nigeria and offer direct payouts to customers who have contracted COVID-19 in the West African country. The venture — that launched in 2019 backed by China’s Transsion —  has created the PalmPay Support Fund. The initiative will start with 100 million Naira (≈ $300K)…

Saving, not spending, is the new hotness in fintech – TechCrunch

[ad_1] Hello and welcome again to our common morning have a look at personal corporations, public markets and the grey house in between. Yesterday information broke that Robinhood is on the hunt for new capital at a roughly flat valuation, per pal of the weblog Katie Roof. If you’re a bit confused by the information,…