Fintech Daily Briefing

Fintech Daily Information Briefing on [January 06, 2021]

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The following is the Fintech Daily Information Briefing on [January 06, 2021] recommended by recordtrend.com. And this article belongs to the classification: Fintech Daily Briefing.

[1]. Two “unicorn” gojek and tokopedia in Indonesia

Gojek, an Indonesian taxi software and payment giant, is in-depth negotiations with Pt tokopedia, the largest e-commerce platform in Indonesia, on the merger. The merged company may be listed in the United States and Indonesia. If the deal is concluded, the combined company will be valued at more than $18 billion. The two companies have signed a letter of intent to conduct due diligence on each other’s business, the source said. Both sides see potential synergies and are eager to close the deal as soon as possible in the coming months.

[2]. Divvy, an expense management platform, received US $165 million in financing and paypal ventures participated in the investment

On January 5, 2021, divvy, an American financial technology platform, announced that it had obtained US $165 million in round D financing, with a platform valuation of US $1.6 billion, ranking among the “unicorn” start-ups. It is reported that the investors include HANACO ventures, PayPal ventures, Schonfeld Strategic Advisors, whale rock capital management, agree capital, insight venture partners, NEA and Pelion venture partners. Divvy, founded in 2016, provides free expense management services for enterprises, and helps enterprises supervise operating expenses through bill automation, smart enterprise credit card and other products.

[3]. Trump signed the executive order, Alipay, WeChat paid in the United States or banned.

In January 5, 2021, US President Trump signed an executive order to prohibit the eight China applications that were paid by Alipay and WeChat, and instructed the US Department of Commerce and the National Intelligence Agency to submit a proposal report to define the specific prohibited trading content. The Ban said the app would access users’ private information and could be used to “track the location of U.S. federal employees and contractors and build personal information files.”.

[4]. Confirm plans to raise $934.8 million through IPO

On January 5, 2021, confirm, the “buy before pay” service provider, said in the S-1 / a document submitted to the US Securities and Exchange Commission that it plans to issue 24.6 million shares at the price of US $33 to US $38 per share, and is expected to raise US $934.8 million. It is reported that confirm will choose to be listed on the NASDAQ Global Select market this time with the stock code AFRM. Confirm was originally scheduled to go public in December 2020. However, under the influence of potential factors such as the soaring stock prices of doordash and airbnb on the first day of listing, the surge of SEC listing applications caused by spac and new crown epidemic, confirm announced to postpone the listing. According to previous filings, confirm’s revenue for the fiscal year ended June 30, 2020 was $509.5 million, up nearly 93% from the same period in 2019.

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