As UK Gov reaches out to tech, investors threaten to ‘pull capital’ over M&A regulator over-reach

Rishi Sunak in a meeting

As the UK’s Chancellor of the Exchequer engaged with the tech industry at a ‘Chatham House’ style event today, the Coalition for a Digital Economy (Coadec) think-tank released a survey of over 50 key investors which found startup investors are prepared to pull capital over the prospect of the Competition and Markets Authority’s (CMA) new Digital Markets Unit (DMU) becoming a “whole-economy regulator by accident”. Investors are concerned after the CMA recommended the DMU be given ‘expanded powers’ regarding its investigations of M&A deals.

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China Anti-Monopoly push adds to Enterprise and Deep Technology’s Appeal: Lightspeed’s James Mi

Alibaba

China’s ongoing anti-monopoly campaign is part of a larger global push by regulators against big tech, and will reinforce a shift among venture investors in the country toward enterprise and deep technology companies, according to a member of the Forbes Midas List ranking of the world’s top venture capitalists.

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PayPal’s new ‘super app’ is ready to launch, will also include messaging

PayPal

PayPal’s plan to morph itself into a “super app” have been given a go for launch. According to PayPal CEO Dan Schulman, speaking to investors during this week’s second-quarter earnings, the initial version of PayPal’s new consumer digital wallet app is now “code complete” and the company is preparing to slowly ramp up. Over the next several months, PayPal expects to be fully ramped in the U.S., with new payment services, financial services, commerce and shopping tools arriving every quarter.

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Untitled Ventures joins the scramble for Russian & Eastern European startups with a $118M warchest

Untitled Ventures

Sorry Mr. Putin, but there’s a race on for Russian and Eastern European founders. And right now, those awful capitalists in the corrupt West are starting to out-gun the opposition! But seriously… only the other day a $100 million fund aimed at Russian speaking entrepreneurs appeared, and others are proliferating.

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Tiger Global leads $34M investment into Unit21, a no-code fraud prevention platform

Unit 21 AI

Unit21, a startup that helps businesses monitor fraudulent activities with its no-code software, announced today it has raised $34 million in a Series B round of funding led by Tiger Global Management.

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Climate risk platform Cervest raises $30M Series A led by Draper Esprit

Cervest

Cervest – a startup with a platform that claims to quantify climate risk across multiple decades and threats down to the asset level – has raised a $30 million Series A round led by Draper Esprit. Previous investors Astanor Ventures, Lowercarbon Capital (Chris Sacca), and Future Positive Capital also participated in the round, and were joined by new investors UNTITLED, the venture fund of Magnus Rausing, and TIME Ventures, the venture fund of Marc Benioff. Cervest’s total funding now stands at $36.2 million. It previously raised $5.2M in 2019.

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Tribal Credit, which provides credit cards to startups in emerging markets, raises $34.3M

Tribal Credit

Today, Tribal Credit announced it has raised $34.3 million in a combined Series A and debt round led by QED Investors and Partners for Growth (PFG). Existing backers BECO Capital, Global Ventures, OTG Ventures and Endure Capital also participated in the round, along with new investor Endeavor Catalyst. The raise follows “10x” year-over-year growth, according to CEO and co-founder Amr Shady.

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Crypto Gems: What is Quant?

Matrix code

For those who have read my first piece which pertained to the Quant Network (QNT), I will openly apologize because I’m not really providing any new information within this piece. I am refining that article here, as the beginning of my collection, because I have not only researched the Quant Network extensively (just as much as Ripple’s XRP), but I also believe that it will be one of the most powerful and disruptive tech companies in the world within the next few years. It’s still early regarding the discovery of this upcoming technology.

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