A growing number of hedge funds and institutional investors are acquiring non-performing loans from banks and federal agencies who can no longer keep them due to expensive holding costs of such loans, Bloomberg said in its report.
Investors
Colorado-based firm GutCheck secures $4M in funding to test out business ideas
Denver, Colorado-based online market research firm GutCheck secured $4 million in a funding round led by Icon Venture Partners to test out the potential of different business ideas.
Yahoo closes Tomfoolery acquisition, will shut down Anchor app
Yahoo has closed the acquisition of San Francisco, California-based enterprise app studio Tomfoolery, and will be shutting down the latter's Anchor app, according to a source familiar with the deal.
US credit card wallet Coin raising $15M in Series A funding -sources
San Francisco, California-based credit card wallet Coin is currently raising around $15 million in a Series A financing round, according to several sources knowledgeable on the situation.
US advertising company Federated Media sells content marketing arm to LIN Media
San Francisco, US-based advertising firm Federated Media sold its content marketing arm to Rhode Island-based multimedia company LIN Media for an undisclosed amount to focus on programmatic advertising.
Latest News
Igenica Inc, the biopharmaceutical firm dedicated to developing antibodies and antibody-drug conjugates to treat the Big C, obtained $14 million in its Series C extension round.
Seattle, US-based beauty product startup Julep launched a crowdfunding campaign on its website to raise $75,000 for a new bendable nail polishing tool to test the demand for the said product.
Sightly was able to obtain $1.7 million in seed funds in a round led by Mac Capital and participated in by other investors which included Tomorrow Ventures and 500 Startups.
Sameer Gehlaut, the Chairman and Co-Founder of Indiabulls Group, backed stealth mobile messaging and social networking startup MyActivityPal Inc with a $5 million investment for its Series A found.
Secure mobile messaging app for enterprises Cotap raised $10 million for its Series B funding round led by Emergence Capital Partners. So far, the latest proceeds brought to $15.5 million Cotap's total funds raised.
RenovoRx Inc, a privately-held medical device maker, closed its series B funding round with $1.15 million. The financing was led by one of the largest angel groups in the US, Golden Seeds.
Jamieson Laboratories, the largest manufacturer and distributor of natural health products in Canada, will be purchased by CCMP Capital Advisors. Terms of the deal were not disclosed.
GoCardless, a payments platform for online Direct Debits in the UK, was able to obtain $7 million for its Series B funding round led by venture capital firm Balderton Capital.
General Electric Co Chief Executive Officer Jeffrey Immelt has asked private investors to pour more funds in African nations where government-run services have been strained, Bloomberg reported.
