Next Insurance raised a seed fund of $13 million led by Zeev Ventures together with TLV Partners and Ribbit Capital. The fund will be used to help small businesses seek and get insurance online without any difficulty.
Global venture capital funding for financial technology companies hit $13.8 billion last year. The number is a double from previous year, indicating a serious impact of fintech to the financial services.
World Asset Management Inc increased its stakes in ICICI Bank Ltd thus increasing the bank’s fund. The bank will now have sufficient funds to lend to eligible borrowers who want to have their own business and houses.
Product management tool provider Propel has closed $4.2 million series A investment. Cloud Apps Capital Partners participated in the A series investment round for Propel.
Optimizely, a San Francisco-based cloud-based startup, is slashing its workforce by 10 percent across all the departments. Based on recent round of finance, Otpimizely was valued at $585 million. Since its inception in 2009, Optimizely has raised over $146 million investments including $58 million round in 2015.
Tegna Inc., NBC Sports Ventures, Sky and Emil Capital raised $20 million for Whistle Sports. The amount added a total $73 million equity funding for the digital sports entertainment startup.
Venture capitalization has appeared as an investment industry rival for banks and insurances. The new trend of raising capital has become much more popular for fintech startups during 2015 while raising $13.8 billion in funding. The raised fund appears just double compared to that in previous year and expected to grow significantly also in 2016.
Sky Plc and 21st Century Fox Inc. invested $6 million each to FuboTV. Along with other investors which generated a total of $15 million in Series B funding for the football streaming startup company.
Citigroup has established a new asset management group to offer varied solutions and services to richest investors across the world. The new global asset management group will function within investment banking business and it'll bring several segments together.
500 Startups is seeing a great potential in Vietnam, where more than half of its population are below the age of 30 and most adults are using smartphones. The Silicon Valley-based accelerator is preparing a $10 million investment fund dedicated for Vietnam startups.
The volume of Philadelphia's venture capital (VC) investments is showing a mixed pattern. Though VC investment grew in 2015 when compared with investments in 2014, the fifth largest city in the US has attracted venture capital investment less than its due share of total funding.
AreaMetrics has completed a seed funding round of $2 million. The financing round was headed by Quest Venture Partners and Startup Capital Ventures.
There is a saying "Strike while the iron is hot". That is what Silicon Valley is doing - investing big in India where the economy grows faster.
Fidelity Investments lead a $175 million investment in Series F funding for Snapchat. However, it does not change Snapchat valuation at $16 billion.
Roofstock gets Series A funding of $13.25 million led by Bain Capital Ventures. The funds will be used in an online marketplace and will be launched on Thursday in Florida.