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Adelaidebased digital lender TicToc expands Series D to $54m

Publish to Twitter Publish to LinkedIn Fintech company TicToc, based in South Australia, said today that it has raised an additional $24 million in fu

Publish to Twitter Publish to LinkedIn Fintech company TicToc, based in South Australia, said today that it has raised an additional $24 million in funding, driven by current shareholder IAG Firemark Ventures, bringing the total raised for its Series D to $54 million. With the addition of the second Series D tranche and the $30 million it raised in February 2022, the digital lender with its headquarters in Adelaide—not to be confused with the enormous Chinese social media platform TikTok—now has an estimated valuation of $230 million. With its fully automated credit underwriting procedures that run on the businesss own exclusive AIdriven lending platform, TicToc claims that the funds will be used to change the digital lending sector. Read More..

B2B Tech News | 3 months ago        

South African Woolworths sells Australian David Jones

After years of poor performance, Woolworths WHLJ.J is finally leaving the upscale department store chain by selling its Australian David Jones divisio

After years of poor performance, Woolworths WHLJ.J is finally leaving the upscale department store chain by selling its Australian David Jones division to private equity firm Anchorage Capital Partners. As part of previous Chief Executive Ian Moirs plans to make Woolworths a dominant force in the southern hemisphere, the South African food and fashion giant paid a high premium to expand in Australia via David Jones. But because the 185yearold department chains transformation took longer than anticipated and was hampered by an excess of physical stores, rigid leases, and a shaky internet operation, Woolworths was forced to continuously writing down the units value. Without success, Woolworths also made an attempt to recreate its lucrative South African food enterprise in David Jones. Read More..

B2B Tech News | 3 months ago        

India working on shared power grid across South Asia Department of Energy

According to Mr. Ajay Tiwari, assistant secretary, Ministry of Power, at the CII South Asia BBIN Power Summit on Friday, India is aggressively working

According to Mr. Ajay Tiwari, assistant secretary, Ministry of Power, at the CII South Asia BBIN Power Summit on Friday, India is aggressively working toward a vision to have an integrated power system across the South Asian area covering as many countries as possible. India will already be obtaining 42% of its energy needs from nonfossil sources by the year 2022. According to Mr. Tiwari, preparations are also being made to connect grids from India to Myanmar, Myanmar to Thailand, Thailand to Singapore, and the Gulf Countries, as well as via the Gulf Countries, to Africa and up north with Europe. Read More..

B2B Tech News | 3 months ago        

Enpal pledges €855m, Trimble wins Transporeon for €1.88bn deal and more than €3bn invested in European technology this week

We monitored over 105 tech fundraising transactions worth over €3 billion this week, as well as over 25 exits, M&A deals, rumours, and associated ne

We monitored over 105 tech fundraising transactions worth over €3 billion this week, as well as over 25 exits, M&A deals, rumours, and associated news pieces across Europe. We monitored over 105 tech fundraising transactions worth over €3 billion this week, as well as over 25 exits, M&A deals, rumours, and associated news pieces across Europe. You belong to the select group with special access to our findings as a paid subscriber. Youd struggle to keep up with it all, even though we frequently post this information in realtime on Twitter and Instagram the much more fun choice. Trust us we are knowledgeable. We take up the task each and every week so you dont have to. Read More..

B2B Tech News | 3 months ago        

Cooke criticises NSWs tax raise plans at a Sydney casino, sending The Stars shares plummeting.

NSW Treasurer Matt Kean announced over the weekend that the government would raise casino gaming taxes for The Star and Crowns Barangaroo casino begin

NSW Treasurer Matt Kean announced over the weekend that the government would raise casino gaming taxes for The Star and Crowns Barangaroo casino beginning July 1, 2023. The Star currently pays less tax on gaming machines than clubs and pubs in NSW. According to The Star, it is seeking urgent talks with the NSW Government to argue against the longterm viability of the proposed tax changes. The company is particularly concerned that the new tax follows reforms resulting from the Bell inquiry, which it claims has resulted in the implementation of cashless gaming and carded play. Read More..

B2B Tech News | 3 months ago        

Its not all monkey, hodl and moon. EthSign fights fraud in the startup space

EthSign is developing a system that might aid in preventing fraud in the startup industry. The business first looked into using esignatures in Web3. T

EthSign is developing a system that might aid in preventing fraud in the startup industry. The business first looked into using esignatures in Web3. The founders then understood that the information being gathered on the chain could be used for validation. Will it function? You can learn all about it here and make your own decision. Read More..

B2B Tech News | 3 months ago        

David Jones returns to Australian ownership with a $250 million deal

Anchorage Capital Partners, based in Sydney, has agreed to acquire WHL for an undisclosed sum. The South African company also stated that the transact

Anchorage Capital Partners, based in Sydney, has agreed to acquire WHL for an undisclosed sum. The South African company also stated that the transaction would eliminate approximately R17 billion AUD$1.4 billion in liabilities associated with the David Jones store portfolio. Anchorage, a South African investment firm, has purchased the Australian retailer David Jones. In 2012, the company paid $20 million to acquire Dick Smith from Woolworths Group ASX WOW. The consumer electronics retailer went into voluntary administration in early 2016. Read More..

B2B Tech News | 3 months ago        

Watchdog punishes Unilever Kenya for unfair trade deals

The Kenya Competition Authority CAK fined Unilever for changing payment terms with tens of its suppliers. An investigation revealed that the firm prey

The Kenya Competition Authority CAK fined Unilever for changing payment terms with tens of its suppliers. An investigation revealed that the firm preyed on smaller traders. According to three people familiar with the ruling, the consumer behemoth abused its purchasing power. It increased the payment terms for its 75 suppliers, the majority of whom were local traders, from 60 days to three months. Unilever has been ordered by the Consumer Affairs Commission CAK to reduce the repayment period for a supplier to between 30 and 45 days. The watchdog also ordered the consumer giant to spend more than Sh400 million on local supplies over the next three years. Read More..

B2B Tech News | 3 months ago        



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Refresh Your Facts

1.  Global online sales are predicted to reach 22% of all retail sales in 2023.
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2.  Global tablet shipments are expected to hit 142 million by 2025, reports Statista.
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3.  Artificial Intelligence is expected to contribute $15.7 trillion to the economy by the year 2030.
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4.  Since the launch of the popular mobile game, Candy Crush, in 2012, players have spent a total of 73 billion hours (equivalent to 8.3 million years) playing this game.
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5.  Approximately 8 billion gadgets connect on the internet every day.
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