Finance/Venture

Tuition.io manages USD1 billion student loans, gets new investor

Tuition.io announced that it has received a new investor following its management of more than USD1 billion student loans and finding ways to monetize the site through ads posted on its blogs.

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Lending Club gets new investment, acquires Springstone Financial

Lending Club gets new funds valued USD65 million and acquires Springstone Financial for USD140 million, from investors including Wellington Management Company, BlackRock, T. Rowe Price Associates Inc. and Sands Capital

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Mt Gox to go for liquidation instead of bankruptcy

Tokyo, Japan-based Bitcoin exchange Mt Gox will file for liquidation in Tokyo instead of its initial plan of rebuilding the firm under bankruptcy protection after a bug reportedly brought the site down.

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TPG Growth to invest $100M in joint venture with Smile Group to help businesses expand to India and Africa

New York, US-based investment firm TPG Growth committed $100 million in a joint venture with Gurgaon, India-based emerging business market builder Smile Group to help Internet and e-commerce firms expand to India, Africa, and other emerging markets.

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San Francisco fundraising site AngelList launches VC fund Maiden Lane to invest in syndicated deals

San Francisco, US-based fundraising site and investor-startup community AngelList launched its new venture capital (VC) fund called Maiden Lane, which will invest in syndicated AngelList deals.

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British cross-border payments startup The Currency Cloud raises $10M in funding

London, UK-based cross-border payments startup The Currency Cloud raised $10 million in a Series B funding round to make international payments smoother and more transparent.

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Hacker Weev free from prison, talks about establishing a new hedge fund TRO LLC

Hacker Andrew Auernheimer a.k.a Weev has been freed from prison and talked about establishing a new hedge fund called TRO LLC, reported TechCrunch.

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Sources: Kenya's Britam to acquire 30 percent stake in Continetal Re Kenya Ltd

Kenya's Britam would acquire 30 percent stake in Continetal Re Kenya Ltd in a deal valued USD3.5 million, reported Ventures Africa.

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Startup financial firm Betterment receives USD32 million funding round

Financial services startup Betterment has received USD32 million funding round from new and previous investors, reported TechCrunch.

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BTC China releases Picasso ATM web app

Shanghai, China-based bitcoin exchange BTC China released a new web app called the Picasso ATM to help Bitcoin users exchange the virtual currency even without a physical ATM.

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Swedish startup Quixter uses hand-scanning device for payment transactions

Lund, Sweden-based biometric identification startup Quixter designed a vein scanning device that lets retail customers complete payment transactions by swiping their hands instead of credit cards.

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US venture capitalists breaks fundraising record in 2014's first quarter

Venture capital firms in the US have raised a record-breaking total funding amounting to $8.9 billion in the first quarter of 2014, according to Thomson Reuters and the National Venture Capital Association.

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Sources: NBK Capital appoints Perella Weinberg Partners for asset sale

NBK Capital appointed Perella Weinberg Partners as its adviser on a planned stake sale, reported Bloomberg.

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TIAA-CREF to acquire Nuveen Investments in a deal valued USD6.25 billion

TIAA-CREF has agreed to acquire Nuveen Investments in a deal valued USD6.25 billion, reported Bloomberg.

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African startup accelerator 88mph to expand to Nigeria

Cape Town, South Africa-based startup accelerator 88mph is expanding to Lagos, Nigeria to begin a new venture with seed funding specialist L5Lab to fund startup programs.

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