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Kenyan B2B ecommerce platform Marketforce is cutting around 9% of its staff as part of a restructuring strategy

A Kenyan B2B retail and endtoend distribution platform has laid off some of its workforce. The layoffs are part of a restructuring strategy in one of

A Kenyan B2B retail and endtoend distribution platform has laid off some of its workforce. The layoffs are part of a restructuring strategy in one of Kenyas five markets. CEO Tesh Mbaabu confirmed the news on a call with TechCrunch, adding that the company let go of 54 people. Marketforce had more than 600 employees before the event so about 9% of its overall workforce was affected. CEO Julius Mbaabu said some roles will be made redundant and new ones will emerge, but the rest of the markets will not be affected. RejaReja is an assetlight merchant super app and marketplace that informal traders can use to source goods directly from manufacturers and distributors and make an order digitally. Read More..

B2B Tech News | 2 years ago        

European shares were mixed after Asian markets fell on a technical decline

European share markets were mixed on Tuesday after gains in most Asian markets despite weakness in technology shares, including Japans SoftBank. Fight

European share markets were mixed on Tuesday after gains in most Asian markets despite weakness in technology shares, including Japans SoftBank. Fighting in Ukraine and attacks on Europes biggest nuclear plant are other factors hanging over markets. Analysts monitoring Asian markets said regional tensions remain a risk because of the flareup between China and Taiwan. Any major developments on the China/Taiwan front could impact overall risk demand. China confirmed it would extend military drills around Taiwan, and the military will conduct regular exercises on the eastern side of the Taiwan Strait. Also of concern are the rising cases of COVID19 in China, Japan, and some other Asian nations, and their potential impact on supply chains. Read More..

B2B Tech News | 2 years ago        

NG.CASH raises $10 million to empower financially independent youth in Brazil

Brazilian fintech firm NG.CASH has announced that it has raised a $10 million seed round led by Andreessen Horowitz a16z and Monashes. Other participa

Brazilian fintech firm NG.CASH has announced that it has raised a $10 million seed round led by Andreessen Horowitz a16z and Monashes. Other participants in the round include 17Sigma and Ualá, Rappi, Mobile, and Brex. The founders entered. Fintech offers a digital wallet app for instant payments, mobile topups, money transfers, and discount shopping. A prepaid card works like a credit card for online purchases. Today, the startups sources of income are card interchange fees, and ticket and product fees. It already has 900,000 users, and its target audience is Brazilians between the ages of 10 and 24. The startups CEO, Mario Augusto Sá, launched Neagle, a popular YouTube channel among young Brazilians, Ten years ago. Therefore, NG.CASHs customer acquisition costs are low because Sá can already reach a large number of young people. According to Sá, this audience is asking for an NFT product and NG.CASH plans to market this product as a longterm stablecoin. This is because many young Read More..

B2B Tech News | 2 years ago        

Global stocks were mostly higher after Wall Street hit a threemonth high

U.S. consumer inflation cooled to 8.5% in July from a year earlier. That was down from Junes fourdecade high of 9.1%. Germanys DAX edged 0.2% lower, t

U.S. consumer inflation cooled to 8.5% in July from a year earlier. That was down from Junes fourdecade high of 9.1%. Germanys DAX edged 0.2% lower, to 13,674.98, while in Paris the CAC 40 added 0.1% to 6,531.38. The S&P 500 and Dow Jones closed at threemonth highs on Wednesday. The national average for a gallon of gas fell to $3.99 on Thursday, down from $4.01 a month ago. The inflation data encouraged traders to scale back bets on how much the Fed will raise interest rates at its next meeting. Wall Street is watching to see if the Fed can succeed in hitting the brakes on the economy and cooling inflation without veering into a recession. Read More..

B2B Tech News | 2 years ago        

Atome banks $100m HSBC debt facility

Fintech firm Atome Financial has secured a $100 million loan from HSBC Singapore to support the companys efforts to expand and strengthen its presence

Fintech firm Atome Financial has secured a $100 million loan from HSBC Singapore to support the companys efforts to expand and strengthen its presence in Asia. Founded in 2017, Atome Financial is an umbrella company comprising two brands Atome and Indonesia Kredit Pintar. Atom is a buy now, pay later platform that works with over 15,000 retail partners in 10 Asian markets, including retail giants such as Zara, Shein, Zalora and Nike. Atom Financial also received $45 million from its parent company in July. BNPLs market is currently struggling globally and will lose $5.2 billion in Asia Pacific by 2025. Read More..

B2B Tech News | 2 years ago        

In Italy, DAZN signs agreements with Google and Samsung

Sports video streaming app DAZN announced that it has signed separate deals with Google and Samsung to allow new customers to receive bundled video se

Sports video streaming app DAZN announced that it has signed separate deals with Google and Samsung to allow new customers to receive bundled video services with certain devices in Italy. The deal came after Telecom Italia TIM gave up the exclusive right to host DAZN on video content platform TimVision and negotiated an expensive partnership with a sports video streaming app. Last year, the Italian group DAZN acquired the rights to the Serie A football league, mostly exclusively. Read More..

B2B Tech News | 2 years ago        

An Indonesian medical company received $7 million from Golden Gate Ventures

Indonesian healthcare startup Lifepack has raised $7 million in a Series A funding round led by Golden Gate Ventures. Launched in 2020, Lifepack is a

Indonesian healthcare startup Lifepack has raised $7 million in a Series A funding round led by Golden Gate Ventures. Launched in 2020, Lifepack is a digital pharmacy focused on providing highquality and affordable medicines to patients in Indonesia. In addition to overthecounter medications and overthecounter supplements, the company also offers medications for chronic conditions. The founders of this startup are John Quarry and Natalie Ardianto. With the new funding, Lifepack plans to build seven additional warehouses in Indonesias major urban areas, in addition to the current two in Jakarta and Surabaya. The company predicts that Indonesias pharmaceutical industry will reach $20 billion by 2025. Read More..

B2B Tech News | 2 years ago        

Antarctica Capital has announced a majority stake in Descartes Labs

The acquisition complements Antarcticas existing portfolio of companies spanning New Space, Data Analytics as well as Digital Infrastructure. Descarte

The acquisition complements Antarcticas existing portfolio of companies spanning New Space, Data Analytics as well as Digital Infrastructure. Descartes Labs performs scientific analysis of geospatial, remote sensing, and diverse complementary data sets to enable sustainable sourcing best practices, commodity price forecasting, and efficient mineral exploration for leading CPG, Agriculture, and Mining companies. The companys SaaS platform enables planetaryscale analysis through artificial intelligence and machine learning. Descartes Labs was founded on the belief that planetary science has the power to fundamentally change the way corporations, governments and nonprofits understand their relationship to the physical systems of the universe. Antarctica Capital is an international private equity firm headquarter located in New York. The firm has an absolute return focus, which leads it to rigorously evaluate and build conviction around idiosyncratic investment opportunities. Read More..

B2B Tech News | 2 years ago        



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