New York City Mayor Martin J. Walsh announced that he will allocate some space for startups in the Ferdinand Building in Dudley Square after its renovation to encourage more businesses to take root in the community.
Finance/Venture
Edison Ventures hounds banking software company in acquisition for $44.5 million
Edison Ventures announces the acquisition of Andera Inc. for 44.5 million by Bottomline Technologies today. Charlie Kroll, Founder and CEO at Andera Inc. comments:
US-based e-commerce lending firm Kabbage lands $50M in Series D financing
Atlanta, Georgia-based e-commerce lending firm Kabbage Inc landed $50 million in its Series D financing led by SoftBank Capital to provide $500 million worth of loans for small online businesses by the end of 2014.
American P2P lending marketplace Prosper raises $70M for growth
San Francisco, US-based peer-to-peer lending marketplace pioneer Prosper raised $70 million in a funding round led by private equity firm Francisco Partners to build its business and fuel its growth.
US social lending firm StreetShares bags $1.2M in seed round to back veteran-owned businesses
Reston, Virginia-based social lending marketplace StreetShares bagged $1.2 million in its seed funding round with Accion Venture Lab as the lead investor to back veteran-owned and main street businesses after it launches this month.
Latest News
London, UK-based venture capital firm Amadeus Capital picked up an undisclosed stake in Sao Paulo, Brazil-based online insurance broker Bidu.com for $4.5 million to take advantage of the growth in emerging markets.
San Francisco, US-based payday loan firm LendUp raised $50 million in debt funding from Victory Park Capital to provide small short-term loans for American consumers who have poor or no credit and expand to other states.
Merus Capital received a $50 million funding round referred to as 4.0x net for two new funds including Merus Capital Opportunity Fund and Merus Capital II.
First Foundation Inc, a financial services company offering clients in multiple locations in the US, has filed for an intended initial public offering of common stock with the US Securities and Exchange Commission.
US-listed fund manager Carlyle has invested USD698 million to the sub-Saharan Africa region aiming to focus in the consumer, transport, ICT and financial sectors and adding to J&J Africa, its current investment in the country.
Midrand, South Africa-based innovative business solutions integrator Business Connexion (BCX) is eyeing additional acquisitions in Ghana and investment opportunities in the Kenya and Nigeria to widen its presence in the said markets.
HS Group Ltd (HSG) will invest an undisclosed amount in Pleiad Investment Advisors, a new hedge fund in Hong Kong formed by former Soros Fund Management executives Kenneth Lee and Michael Yoshino, which will be launched in the third quarter of 2014.
Seoul, South Korea-based early stage venture capital firm K-Cube Ventures has emerged as one of the key players in the country's startup industry with its quick and risky investment deals that focus on startups that offer unique solutions to existing problems.
Doha Bank, a Qatar based lender, has entered into a definite acquisition agreement with HSBC Holdings Plc's HSBC Bank Oman to purchase its lending arm in India pending regulatory approvals in India, Jersey, Qatar and Oman.
