The round values the company at €100 million ($107 million), post money.
But finmid believes it has the potential to lock in more business specifically in its home region.
Unlike a bank, Wolt has access to the restaurants’ sales history, and finmid helps it leverage that data to decide who will see a pre-approved financing offer.
The working capital doesn’t come from Wolt, but from finmid’s financing partners.
For a platform like Wolt, embedding finmid is a way to make life easier for restaurants while generating additional revenue without much additional effort.
Moove, an African mobility fintech that offers vehicle financing to ride-hailing and delivery app drivers, has raised $100 million in a funding round as it plots expansion into new markets.
Moove says it plans to use the new capital to expand its revenue-based vehicle financing platform to 16 markets by the end of 2025.
Moove takes a two-pronged approach to vehicle financing.
The vehicles provided to Moove customers vary from traditional options like Toyotas and Suzukis to electric vehicles (EVs) such as Teslas.
The vehicle financing startup operates large EV fleets in the UAE and the U.K.
Raising capital sounds simple: You hand over shares, investors hand over cash, and everyone then gets back to work.
She’s coming to TechCrunch’s Early Stage event next month on April 25 to not only present on early-stage fundraising topics, but also to answer your questions.
Early Stage is one of our most popular events, so don’t delay — I’ll see you in April, pen in hand, listening to Whiting.
Early Stage 2024 prices go up March 31.
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Polestar secured a $950 million loan from a dozen banks, critical funds needed to keep its EV plans moving forward following Volvo’s decision to pull back its financial support of the electric automaker.
Polestar, which has cut 10% of jobs since mid-2023, said it plans to make another 15% cut this year.
Polestar currently produces the Polestar 2, Polestar 3, which recently started production in China, and the Polestar 4.
The company said it has successfully completed test production runs for the Polestar 3 at its factory in South Carolina.
The $950 million loan follows Volvo Cars’ decision last month to reduce its 48% holding in Polestar and let parent company Geely take over financial responsibility.
Vroom hits the brakes on its online used car business to go full throttle on auto financing and AIVroom is shutting down its online used car marketplace and shifting all of its resources and capital into two business units focused on auto financing and AI-powered analytics.
The company said it is suspending all used car transactions through vroom.com and plans to sell off its used vehicle inventory to wholesalers.
Vroom was part of a wave of U.S. startups that launched about a decade ago all aiming to disrupt used car sales and the traditional dealership model.
The drop in valuation continued into 2022, pushing Vroom shares to under $2.
Vroom shares closed at $0.53 on Monday and then dropped to $0.25 after the company announced its plans to shutter the e-commerce business.
AppDirect, a San Francisco- and Montreal-based platform for buying, selling and managing tech through a network of IT advisors, has raised $100 million from CDPQ to expand its financing program for small- and medium-sized tech businesses.
“Our Invest program is purpose-built to empower our technology advisors,” Emanuel Bertolin, AppDirect’s chief revenue officer, said in a statement.
“To keep up with today’s ever-changing market, technology merchants need fast access to capital to accelerate their growth.”AppDirect’s Capital Invest program is a loan program, providing capital for tech businesses in the form of upfront payments.
Today, AppDirect offers a set of tools that let businesses monetize — or buy — tech products across a range of different channels and devices.
We also provide the opportunity for our advisor community to procure technology for their customers directly from the AppDirect catalog.”AppDirect launched the Capital Invest program in 2021.
Entrepreneurs navigating the later stages of a startup face a minefield of funding options, and not all of them are suitable for their business.
I’ve seen too many brilliant and hard-working entrepreneurs end up with too little, so it’s critical to understand the different financing options available to you.
As the founder and CEO of Runway Growth Capital, I’ve had the pleasure of working with hundreds of startups (large and small) and witnessing the wide range of funding options available to founders.
Funding a late-stage startupThe disparity in what different forms of financing can mean has profound implications for founders, yet too little is known about them.
The disparity in what different forms of financing can mean has profound implications for founders, yet too little is known about them.
With a funding round totaling 50 billion won ($38.4 million), Seoul-based agritech startup, Green Labs, has secured debt financing from two investors. The new investment comes just one month after…
