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Kenya seizes Sh6.2 billion associated with the Nigerian startup Flutterwave

A Kenyan High Court has frozen more than Sh6.2 billion spread in 62 bank accounts belonging to Nigerian startup Flutterwave and four Kenyans. The bill

A Kenyan High Court has frozen more than Sh6.2 billion spread in 62 bank accounts belonging to Nigerian startup Flutterwave and four Kenyans. The billions feared that they will the proceeds of card fraud and money laundering. Accounts include GTB, Equity, EcoBank, KCB, and Cooperative Bank. The court heard that Flutterwave received 12.4 billion kroner in a single account at Equity Bank between November 2020 and this year, representing billions overseas managed by the startup. Rem X Ltd is at the center of a separate moneylaundering suit, which saw the court freeze Sh5.6 billion in accounts. Read More..

B2B Tech News | 3 years ago        

Flexe Logistics latest fund raise has increased its value to over $1 billion.

Seattlebased Flexe raised $ 119 million in a Series D round that attracted new investment from funds and accounts managed by T. Rowe Price Associates

Seattlebased Flexe raised $ 119 million in a Series D round that attracted new investment from funds and accounts managed by T. Rowe Price Associates and Prologis Ventures. The funding comes at a time when severe supply chains are limiting trade and commerce around the world. Venture capital firms are helping startups raise millions of dollars to help them reach their valuation targets. Warehousing firm Flexport more than doubled its valuation to $8 billion in February after it raised $935 million in a latestage funding round. Read More..

B2B Tech News | 3 years ago        

Northvolt, a VW and Goldman backed battery maker, receives $ 1.1 billion in funding

Electric vehicle battery maker Northvolt on Tuesday announced a $1.1 billion funding boost, with a range of investors — including Volkswagen and Gol

Electric vehicle battery maker Northvolt on Tuesday announced a $1.1 billion funding boost, with a range of investors — including Volkswagen and Goldman Sachs Asset Management — taking part in the capital raise. The company says it has $55 billion in orders from companies including Volvo Cars, BMW, and Volkswagen. The Giga Factory is a factory that produces batteries for electric vehicles on a large scale. Northvolts funding announcement comes as major European economies are laying out plans to move away from vehicles that use diesel and gasoline. Read More..

B2B Tech News | 3 years ago        

Samsung Engineering has signed a contract with Aramco

Samsung Engineering has consolidated its position in Saudi Arabia by carrying out over 30 projects in the last 20 years. The National EPC Champions in

Samsung Engineering has consolidated its position in Saudi Arabia by carrying out over 30 projects in the last 20 years. The National EPC Champions initiative is designed specifically for investments in the EPC sector. Samsung Engineering plans to expand its global business strategy to other regions such as the Middle East and Asia. Samsung Engineering has completed over 1,000 projects worldwide. It has served clients in a variety of industries, including oil refining, gas processing, petrochemicals, infrastructure, environmental sectors, and the bio industry. Samsung Engineering is one of the worlds most important EPC and PM companies. Read More..

B2B Tech News | 3 years ago        

Jabil pours the first concrete at its new facility in Chihuahua

Jabil, a U.S. global manufacturing services company, has laid the first stone in the city of Chihuahua for what will be its fifth manufacturing plant

Jabil, a U.S. global manufacturing services company, has laid the first stone in the city of Chihuahua for what will be its fifth manufacturing plant in the state. The new plant will have 250 thousand square feet, which will offer manufacturing solutions in key, areas in sectors such as automotive, medical among others With an investment of more than US$300.3 million, This new manufacturing facility will employ approximately 8,000 people who will have access to quality workspaces that will open over the next five years. Read More..

B2B Tech News | 3 years ago        

US stocks tend to close higher after a strong intraday rally

U.S. stocks eked out gains on Tuesday as investors appetite for risk suddenly reversed. Falling oil prices helped bolster the appetite for inflationse

U.S. stocks eked out gains on Tuesday as investors appetite for risk suddenly reversed. Falling oil prices helped bolster the appetite for inflationsensitive tech stocks. The Nasdaq Composite clinched the massive gain, while the S&P 500 finished slightly higher. Closed Shares of Meta Platforms rose 5.1%, those of Amazon.com Inc. AMZN gained 3.6%, and shares of Alphabet Inc. GOOGL advanced 4.2%. The Federal Reserve on Wednesday will release the minutes for its June interest ratesetting meeting, while Friday sees the publication of the June nonfarm payrolls report. Read More..

B2B Tech News | 3 years ago        

British International Investment gives $20 million to Nigerian fintech company Moove

The UKs development finance agency, UK International Investments BII, formerly known as CDC Group, has announced a fouryear, US $ 20 million structure

The UKs development finance agency, UK International Investments BII, formerly known as CDC Group, has announced a fouryear, US $ 20 million structured debt investment in Mo. BII aims to mobilize capital to build selfsufficiency and market resilience in Nigeria and improve access to inclusive economic opportunities. Launched in 2020, Moove provides revenuebased vehicle financing and financial services to mobility firms. Read More..

B2B Tech News | 3 years ago        

Unsuccessful NFT Captain Tsubasa offers window to the dangers of cryptocurrencies

Yoichi Takahashi, the creator of Captain Tsubasa, is engaged in a legal dispute over intellectual property with a Singaporebased startup. He opposed t

Yoichi Takahashi, the creator of Captain Tsubasa, is engaged in a legal dispute over intellectual property with a Singaporebased startup. He opposed the sale of nonfungible tokens by Football Metaverse Pte and its affiliate, Mangaverse Foundation. I thought they abandoned the project, but since they started promoting NFT sales, all we had to do was inform the public on Twitter before the sale started, Iwamoto said. At the time of writing, Captain Tsubasa NFTs have not yet gained traction in Japan, where they would have brought in $8.9 million in revenue if sold at the listed price of 1 Ethereum each. Many Web3related projects aim to profit from gullible buyers before they are hastily abandoned, and the perpetrators escape with the money. Read More..

B2B Tech News | 3 years ago        



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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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5.  Approximately 8 billion gadgets connect on the internet every day.
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