News
TradeCore, a London-based FinTech startup, has raised $3m (£2.21m) in a Seed round led by South Central Ventures, a €40m fund targeting tech startups.
The firm describes itself as an “AWS for FinTech”, as it provides customers with the necessary developing tools.
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YNAP’s chief executive Federico Marchetti said he was receptive to the bid and YNAP has waived a clause in its shareholder documents, which would have prevented Richemont and all its affiliates from purchasing any more shares in the company. Richemont said it plans to continue to operate YNAP as a separate company.
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Cambridge-based agricultural technology firm KisanHub has raised £1.75m in pre-Series A funding.
The crop intelligence platform’s round was led by Notion Capital and IQ Capital.
KisanHub will use the cash to continue developing its proprietary technology, which leverages big data and machine learning to help producers and suppliers within the agricultural industry make decisions.
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Ecommerce firm E Fundamentals has closed a £2.5m Series A.
The company, which is headquartered in London but also has a presence in Edinburgh, raised from Downing-managed VCTs and Downing Ventures EIS.
E Fundamentals’ existing shareholders also participated in the round, which brings the company’s total raised to date to £5m.
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Verdane Capital has sold its stake in Outnorth, an online retailer of outdoor products and apparel in Scandinavia, to Nordic media group Egmont.
Last year the company had revenues of SEK430m (€38.59m), representing 20x growth compared to 2010.
Verdane made its first investment in Outnorth in 2010 from its seventh flagship fund.
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Last year in 2017, Amazon grocery sales grabbed a market share of 18% of online grocery sales in the US, double the share held by their closest competitor Walmart according to a report by One Click Retail.
The report points out that grocery sales are still largely offline but that Amazon Fresh with their same day delivery is a way that the company is building confidence with consumers. Regardless of consumer’s slowness to move online, Amazon saw 50%+ growth in the US, UK and Germany and One Click Retail suggest this growth trajectory will continue in 2018.
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More Affluent Consumers have purchased something on their mobiles (59%) than their computer (56%) in the last month. There are regional differences though: m-commerce has made the most headway in APAC, whereas those in Europe remain wedded to their computers. That said, no device is used in insolation in any region, highlighting the importance of a multi-device marketing strategy.
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Entrepreneurship runs through Saul Klein’s DNA. The English literature graduate may not have known it when he first entered the world of employment, but he would go on to build a successful career in business and venture capital investment.
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Sequoia Capital, the top-tier venture firm, has just closed on a $180 million new fund called Sequoia Scout III that’s focused exclusively on seed-stage opportunities.
It’s a development startup founders will be watching closely, no doubt, so we caught up yesterday with Bryan Schreier, a Sequoia partner who sits on the boards of Dropbox, Thumbtack and Qualtrics, among others, to ask how the vehicle works.
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Zalando expects to deliver a rise in sales of between 21% and 23% for its fourth quarter, despite a “challenging” October.
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