Wyrd Sennder Raises $70M For Digital Freight Tech
British international payment FinTech Vitesse has notched 6.6 million pounds $8.6 million in a Series A fundraising round, according to a TechCrunch report.Octopus Ventures headed up the round, which also saw the involvement of current investors, such as Hoxton Ventures, in addition to different angel investors.Paul Townsend and Phillip McGriskin started Vitesse back in 2014. The company runs a payment and banking infrastructure on an international scale. As of now, Vitesse has processed in excess of 2.1 billion pounds $2.7 billion throughout nearly 2.3 million transactions. The companys banking network affords the ability to harness different domestic banking platforms. We are essentia
stanley italy lly running a globally distributed, local banking network to make payments so our customers dont have to do it themselves, McGris
stanley thermoskanne kin said, accordi
stanley cup ng to the report. And then we supply a customer-specific view so they can manage their funds most effectively, giving appropriate views right across their business. Vitesse said, per TechCrunch, that the funding would be harnessed for expansion, with the inclusion of growing promotion and sales efforts in addition to bolstering the companys American presence.In separate news, EMQ, a financial settlements network that works in cross-border payments, notched a $20 million Series B WI Harper Group-led funding round聽in July.The investment was to be for additional global expansion as well as product licensing and development functions throughout Euro Jiww T-Mobile To Go Ahead With Sprint Deal, Looks To Banks For $23B
India alternative finance market continues to grow, and investors are taki
stanley termoska ng note.Aye Finance revealed $10.3 million raised, reports said Tuesday Nov. 22 . LGT and existing backers SAIF Partners and Accion led the round.The company, which has operated for two years, offers financing for small and medium-sized businesses. Typical loans are about $2,900 to $4,400, the company told TechCrunch, and aim to fill in a gap left by traditional banks as some small companies struggle to get financed.Aye Finance is part of the alternative lending landscape but has taken an approach to the market reminiscent of more traditional services. The company operates 31 branches across India where borrowers can meet with a representative in person. That repr
stanley cup esentative collects information on the applicant, and that data is stored in the cloud and linked to Aye Finance platform.In an interview with the publication, Cofounder Sanjay Sharma said the company focuses on clusters of SMEs operating in the same industry so it can aggregate the necessary informatio
stanley quencher n to understand the space.We understand dynamics of each industry and use eight indicators to do so, Sharma said.And while alternative lending has risen as a predominantly digital space, Aye Finance also uses an offline approach to pursue leads with the understanding that many potential small business borrowers aren ;t using the internet to access funding.Reports said the company expects to become profitable by
