Tuesday, March 9, 2021
Home World Tech News Zomato Notches $250M On $5.4B Valuation

Zomato Notches $250M On $5.4B Valuation

In today’s top payments news around the world, Zomato has landed an additional $250 million from existing and new investors, while Tyme plans to expand its online bank for the underserved into Asia and Southeast Asia. Plus, telecommunications services provider Bharti Airtel is teaming with Qualcomm.

India’s FoodTech Zomato Nets $250 Million On A $5.4 Billion Valuation Ahead Of Potential IPO

Zomato has notched a further $250 million from current and new investors prior to a potential initial public offering (IPO). Kora Management headed up the round with $115 million, Fidelity Management and Research invested $55 million and Tiger Global Management invested $50 million. Bow Wave Capital put in $20 million, while Dragoneer Investment Group invested approximately $10 million.

Tyme Raises $110 Million To Grow Digital Bank For Underserved In South Africa, Asia

After landing $110 million in a Series B capital raise, Tyme intends to grow its online bank for the underserved into Asia and Southeast Asia beginning with the Philippines. Singapore-based Tyme will mainly harness the infusion to grow TymeBank in South Africa, where it already runs, but also intends to seek a digital bank license from the Central Bank of the Philippines.

Airtel, Qualcomm Team Up For 5G Telecom Push In India

Telecommunications services provider Bharti Airtel is collaborating with chipmaker and wireless tech firm Qualcomm to speed up the cadence of the 5G rollout in India. The firms said the collaboration’s activities would “create new opportunities for small and medium-sized businesses to become viable players in the deployment of 5G networks.”

Boris Johnson Unveils 4-Step Plan To Reopen UK In June

England’s lockdowns could be easing up in the near future with a new four-step plan. Under the plan by Prime Minister Boris Johnson, schools would open on March 8. Then, on March 29, outdoor gatherings of as many as six individuals or two households would be allowed, and outdoor sports facilities would open again. Also, under the plan, stores, hairdressers, fitness centers and outdoor hospitality could open again by April 12.

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NEW PYMNTS DATA: BUY NOW, PAY LATER CONSUMER STUDY 


About: Buy Now, Pay Later: Millennials And The Shifting Dynamics Of Online Credit, a PYMNTS and PayPal collaboration, examines the demand for new flexible credit options as well as how consumers, especially those in the millennial demographic, are paying online. The study is based on two surveys, totaling nearly 15,000 U.S. consumers.

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