DIRS.INFO The most relevant business & tech news

☆ There's a lot of good news priced in the markets, says Citi Research's Drew Pettit
▼ + stars: | 2024-06-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere's a lot of good news priced in the markets, says Citi Research's Drew PettitDrew Pettit, Citi Research U.S. equity strategist, joins 'Money Movers' to discuss markets, the economy, AI, fintech, and more.

Persons: Drew Pettit Drew Pettit Organizations: Citi, Citi Research

☆ Here are Thursday's biggest analyst calls: Apple, Nvidia, Tesla, Netflix, Alphabet, United, JPMorgan, Carvana, Broadcom & more
▼ + stars: | 2024-06-06 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Goldman Sachs reiterates Nvidia as buy Goldman said it's sticking with its buy rating on the stock. JPMorgan upgrades StoneCo to overweight from neutral JPMorgan said in its upgrade of the fintech solutions company that it has "appealing" potential for earnings growth. Morgan Stanley reiterates JPMorgan as overweight Morgan Stanley said it's even more bullish on the stock after a meeting with company management. " JPMorgan reiterates Alphabet as overweight JPMorgan said the company is on the "offensive in Gen AI." JPMorgan reiterates Broadcom as overweight The firm said it's sticking with its overweight rating on shares of Broadcom.

Persons: Morgan Stanley, Tesla, Oppenheimer, DA Davidson, Davidson, Goldman Sachs, Goldman, Bernstein, FANG, Redburn, it's bullish, osteogenesis, it's, Robinson, JPMorgan, Disney, Evercore, Moffett, Carvana Organizations: Walmart, Apple, company's, Conference, Nvidia, Energy, Midland shaleco, Endeavor Energy Resources, Airlines, United, Citi, eBay, JPMorgan, BMO, UBS, Mizuho, SEE, P Containers, Deutsche Bank, Deutsche, Google, Jefferies, DFS, Disney, Netflix, CTV, Broadcom Locations: China, Midland, Rocklin

India's stock market has been topsy-turvy in the past week. WealthMills Securities' equity market strategist Kranthi Bathini says "India's stock markets need stable policy continuity going forward." "The Union Budget has consistently increased allocations for infrastructure development. Strong digital economy and startup ecosystem Another longer-term theme on Sengupta's radar is the digital economy and startup ecosystem. Riding the consumer wave Aside from sectors poised for growth, WealthMills Securities' Bathini suggests looking out for names set to benefit from the strong consumer.

Persons: turvy, Narendra Modi's, Modi, Dhruba Jyoti Sengupta, Kranthi Bathini, Sengupta —, Sengupta, Bathini Organizations: Narendra Modi's Bharatiya Janata Party, BJP, Lok Sabha, Wrise, CNBC Pro, BSE, Bombay Stock Exchange, WealthMills Securities, Budget, Hindustan, Indian Railway Catering, Tourism Corporation, Indian, Construction, Titagarh, Systems, India, Canara Bank, Bajaj Finance, Securities, Hindustan Aeronautics, Tata Motors, Reliance Industries Locations: Lok, Asia, East, Europe, India, uptrend

☆ Fintech firm Nium cuts valuation by 30% in new funding round, eyes 2025 IPO
▼ + stars: | 2024-06-04 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

The fundraising round was led by an undisclosed Southeast Asian sovereign wealth fund and backed by venture capital firms BOND, NewView Capital, and Tribe Capital. That marks a 30% discount to its previous valuation of $2 billion, which the firm notched in 2022 when it last raised external venture capital. Nanu said his company's down round was the result of a broader depression in public market valuations of fintech companies. He noted the example of Stripe, which raised a $95 billion valuation in the heady days of 2021 before slashing its value to $50 billion and then boosting its valuation to $65 billion in secondary share transactions. "Banks have gone from, crypto is hot, to not crypto, to crypto," he added.

Persons: Prajit, Nanu, he's, Banks, It's, Bitcoin Organizations: Westend61, Getty Images, CNBC, NewView, Tribe Locations: Getty Images AMSTERDAM, Netherlands, U.S

☆ The scary secret behind the boom in data centers
▼ + stars: | 2024-06-04 | by ( Adam Rogers | ) www.businessinsider.com time to read: +10 min

Last year all the data centers in the world had room for 10.1 zettabytes of information — roughly 456 billion Wikipedias. And with the rise of artificial intelligence, which requires vast quantities of data and power, the global capacity of data centers is expected to double by 2027. Data centers are more than just vast digital warehouses. The more data centers those companies have, the more of those services they can offer, and the more storage and number-crunching capacity they can provide. Over time, economists warn, AI startups will inevitably lose out to the tech giants that control the data centers.

Persons: they're, Cecilia Rikap, Matthew Wansley, Jonas Jacobi, Jacobi, It's, Rikap, Bengt, Åke, There's, Lina Khan, Today's, Adam Rogers Organizations: Google, Microsoft, Amazon Web Services, Big Tech, Corporate, Regulators, Yeshiva University, Amazon, Venture, Aalborg University, Tech, Google Cloud, Federal Trade Commission, Business Locations: OpenAI, Hotel California, Denmark, Europe, lockstep

☆ Re:cap, a German revenue-based financing startup, raised $14.6 million using this 13-slide pitch deck
▼ + stars: | 2024-06-04 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +3 min

Read previewRe:cap, a German revenue-based financing startup, has raised $14.6 million in Series A funding. Borrowers can use financing on re:cap to borrow up to 5 million euros, or about $5.5 million, over terms of up to five years. This story is available exclusively to Business Insider subscribers. "Overall, the private debt market is growing tremendously, faster than most if not all alternative asset classes, so the opportunity generally is huge," Paul Becker, CEO and cofounder of Re:cap, told Business Insider. According to Atomico, funding for European startups dropped by 45% year-on-year to $45 billion in 2023, but investment in European fintech dropped well below the wider slump.

Persons: —, Paul Becker, Felix, Becker, European fintech Organizations: Service, HSBC Innovation Banking, Business, Felix Capital, Finch Capital, Channel Capital, Avellina Locations: Berlin, European

☆ Digital bank Monzo posts first full year of profit after more than doubling revenue
▼ + stars: | 2024-06-03 | by ( Ryan Browne | ) www.cnbc.com time to read: 1 min

A Monzo debit card being used at a payment terminal. Monzo, the British digital challenger bank, on Monday reported its first full year of profitability. The fintech startup said in annual financial results that its pre-tax profits totaled £15.4 million ($19.6 million) in its 2023-2024 fiscal year, swinging to the black from a £116.3 million loss the year prior. Monzo posted revenues of £880 million for the full year, up from £355.6 million in 2022. Monzo is one of Britain's largest digital banks, competing with the likes of Starling and Revolut as well as established lenders such as HSBC and Barclays .

Persons: Monzo, Starling, Revolut Organizations: HSBC, Barclays Locations: British

☆ Harvard fellow: CFPB's 'buy now, pay later' regulation isn't enough — nothing 'substantively changes'
▼ + stars: | 2024-06-03 | by ( Jessica Dickler | ) www.cnbc.com time to read: +1 min

Last month, the Consumer Financial Protection Bureau declared that buy now, pay later customers should have the same federal protections as users of credit cards. However, Marshall Lux, a fellow at the Mossavar-Rahmani Center for Business and Government at the Harvard Kennedy School who studies BNPL, says the government's latest guidance is already a few steps behind. In fact, major buy now, pay later providers already provide such safeguards for users. "We've got an industry that's moving at light speed and a regulatory process that takes time," Lux said. More from Personal Finance:25% of consumers recently used a buy now, pay later loanCould buy now, pay later loans affect your credit score?

Persons: Marshall Lux, BNPL, —, PayPal —, We've, Lux, Penny Lee Organizations: Consumer Financial, Bureau, Rahmani Center for Business, Government, Harvard Kennedy School, PayPal, Finance, Financial Technology Association, Zip

☆ 'Unbossing' the workplace could make Gen Zers better at their jobs, hiring experts say
▼ + stars: | 2024-06-03 | by ( Lindsay Dodgson | ) www.businessinsider.com time to read: +5 min

Read previewThe great unbossing is underway, with companies cutting middle management positions. Cost cutting, Gen Z's distaste for management , remote working, and increased pressure on performance are all factors in why middle managers are finding their jobs are most at risk during layoffs. She said that not having a micromanager picking apart their work could benefit Gen Zers who don't feel they need to be "spoon-fed." Doing it rightThose who are skeptical of companies axing middle managers say it could mean junior staff won't receive the mentorship needed to climb the ladder. Camberato said staffers of all generations, from Boomers to Gen Zers, need to evolve, "especially as technology advances."

Persons: —, Sophie O'Brien, O'Brien, Zers, micromanagers, they'll, We're, Catherine Rymsha, The University of Massachusetts Lowell, Rymsha, Joe Camberato, Camberato, Gen Zers Organizations: Service, Business, The University of Massachusetts, Business Capital, Boomers

☆ $9.2 billion fintech Navan appoints ex-NYSE exec as CFO ahead of anticipated IPO
▼ + stars: | 2024-06-03 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

Navan has hired a former New York Stock Exchange executive as its new chief financial officer, ahead of the anticipated IPO of the $9.2 billion travel and expense management platform. Amy Butte, who was NYSE's CFO between 2004 and 2006, will join Navan as its new CFO in June. Founded by entrepreneur Ariel Cohen, Navan is a platform that helps employees at companies big and small to manage their expenses and travel bookings. Last month, Cohen, Navan's CEO, told CNBC the firm is "not far" from an IPO, adding that the company expects to hit profitability this year. Navan was named as a CNBC Disruptor 50 company in May.

Persons: Amy Butte, Butte's, Ariel Cohen, Cohen Organizations: Navan, New York Stock Exchange, SAP, American Express, CNBC Locations: Navan

☆ Making $100,000 a year might not be life-changing anymore, but 3 people share how it makes things a lot less stressful
▼ + stars: | 2024-06-01 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +7 min

Read previewWhen Joshua first earned a $100,000 salary about five years ago, it didn't impact his lifestyle much. "I wasn't able to splurge or to afford luxurious things," the 30-year-old fintech professional, who's based in Georgia, told Business Insider via email. This story is available exclusively to Business Insider subscribers. Business Insider asked three people who've made over $100,000 a year how becoming a six-figure-earner did — and didn't — change their lives and relationships. For many of these people, a $100,000 salary could, in fact, be life-changing.

Persons: —, Joshua, doesn't, What's, who've, Cole H, Mattes, it's, ALICE, Maksim Sonin, — he's, he's Organizations: Service, Business, New York Fed, New, Fed, eBay, Monarch Media, United, Stanford University Locations: Georgia, California

☆ Savings app CEO says 85,000 accounts locked in fintech meltdown: ‘We never imagined a scenario like this’
▼ + stars: | 2024-06-01 | by ( Hugh Son | ) www.cnbc.com time to read: +4 min

Instead, his company has inadvertently been a source of deep pain for thousands of customers who relied on Yotta accounts to receive paychecks, pay bills and save for emergencies. For the past three weeks, 85,000 Yotta customers with a combined $112 million in savings have been locked out of their accounts, Moelis told CNBC. Accounts at crypto firm Juno and at Copper, which offered savings accounts for families and teens, also have been frozen. Adam Moelis, Co-Founder at Yotta Savings. Representatives of the agencies have pointed to efforts they've made to encourage banks to manage the risks of using fintech partners.

Persons: Oscar Wong, Adam Moelis, Trust —, Moelis, Dave, We've, they've Organizations: Synapse, Bank, Trust, CNBC, Evolve Bank, Evolve, Mercury, Yotta Savings, Federal Reserve, Federal Deposit Insurance Corp Locations: Tennessee, Yotta, fintech

☆ Don’t forget this one line on your resume, says former head of talent acquisition at Nike
▼ + stars: | 2024-05-31 | by ( Gili Malinsky | ) www.cnbc.com time to read: +1 min

As such, many will also be writing their resumes for the first time in hopes of catching recruiters and hiring managers' attention. There's one more line worth including under each experience that could give recruiters a sense of your history. "I think it's really helpful to have an anchor statement," says James Hudson, an HR executive who's headed talent acquisition at companies like Nike and Levi Strauss & Co. 'Fintech company with half a billion dollars in revenue'An anchor statement shows up under your job title and the company you worked for. "But even for consumer-facing brands," says Hudson, "it can be helpful to put the anchor statement because, yeah, sure, everyone's heard of Nike or Apple, but most people probably don't know how big those companies are."

Persons: —, James Hudson, who's, Levi Strauss, Hudson, everyone's Organizations: Nike, Apple

☆ I got engaged with a $57 Etsy ring. My fiancé and I both make 6 figures, but we're planning strategically to save $20K for our wedding.
▼ + stars: | 2024-05-31 | by ( Viviana Vazquez | ) www.businessinsider.com time to read: +9 min

Our wedding budgetWe have a wedding budget of $20,000, with a guest list of around 120 people. Some of my family members won't be able to travel to Mexico, so we plan to invite them to dinner after our City Hall civil wedding. Some of my family members won't be able to travel to Mexico, so we plan to invite them to dinner after our City Hall civil wedding. We plan to help subsidize five rooms for 10 family members by contributing $1,000 per room, or half the cost. We plan to help subsidize five rooms for 10 family members by contributing $1,000 per room, or half the cost.

Persons: —, Xavi, We've, Vazquez, Viviana Vazquez, maxing, Robert Dula, we'd, I'm, San Miguel de Allende, Viviana Vazquez Viviana Vazquez, Jane Zhang Organizations: Service, Baruch College, Business, City Hall, City Locations: New York City, Mexico, Atlanta, New Orleans, Vazquez, Nola, Cancún, New York, San Miguel, janezhang@businessinsider.com

☆ Klarna CEO faces backlash for saying AI let marketing team 'half the size it was last year' do more work, saving millions
▼ + stars: | 2024-05-30 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +6 min

Read previewKlarna's CEO seemingly touched a nerve on social media with a post about how the company saved millions by using AI to cut costs and do the marketing work human employees previously did. "Our in-house marketing team is HALF the size it was last year but is producing MORE!" AdvertisementHe also wondered aloud at the impact AI will have on creative industries and those working in marketing. Advertisement"If you still had a bigger marketing team, they probably would've advised you not to post this," one person said. "Flexing that you fired half of your marketing team is just really bad," another added, alongside a clown emoji.

Persons: —, Sebastian Siemiatkowski, OpenAI's DALL, Siemiatkowski, would've, Klarna, ioAhxkNS8I — Sebastian Siemiatkowski, David Sandstrom Organizations: Service, Business, Wall

☆ BlackRock-backed fintech Trustly says IPO still at least one year out even as profits jump 51%
▼ + stars: | 2024-05-30 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

The boss of Swedish financial technology startup Trustly says an initial public offering for the company is still a year or two away from happening, even after a 51% jump in operating profit. "We need another year or two to really demonstrate to the market that open banking is happening happening, it's here," Tjarnberg told CNBC. Trustly is holding out on an IPO even after reporting a strong set of financials. Growth accelerated significantly in the second half of the year, Trustly said, climbing 27% compared with the same period in 2022. Tjarnberg told CNBC that the company's performance in 2023 was heavily driven by the growth at its U.S. business.

Persons: Johan Tjarnberg, Tjarnberg, Trustly, PayWithMyBank Organizations: CNBC, Trustly

☆ Fintech targeted by climate skeptics banks $37 million from likes of UBS, Commerzbank
▼ + stars: | 2024-05-30 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

From left to right: Johan Pihl, Doconomy's chief creative officer and co-founder, and Mathias Wikstrom, chief executive officer and co-founder. DoconomySwedish climate-focused financial technology startup Doconomy told CNBC on Thursday that it's raised 34 million euros ($36.9 million) from leading European banks, including UBS and Commerzbank . Credit ratings agency S&P Global came on board as a new investor, while existing shareholders Motive Ventures, PostFinance and Tenity also participated. watch nowDoconomy plans to use the fresh cash to drive expansion into North America and roll out new products, CEO and co-founder Mathias Wikstrom told CNBC in an interview. Mathias Wikstrom CEO, Doconomy

Persons: Johan Pihl, Mathias Wikstrom, it's, Tenity, Wikstrom, Jordan Peterson, It's, Doconomy Organizations: CNBC, UBS, Commerzbank, UBS Next, P Global, Motive Ventures, PostFinance, Boston Consulting Group, Mastercard, United Nations, Dreams Technology, Citi Ventures, Ikea Locations: Sweden, North America

☆ Why Walmart, Walgreens, CVS retail health clinic experiment is struggling
▼ + stars: | 2024-05-28 | by ( Kevin Williams | ) www.cnbc.com time to read: +11 min

But the business experience in the retail health clinic space has largely disappointed. Walmart and the problem of volume vs. priceIn 2019, Walmart announced a bold initiative to open 4,000 in-store health clinics by 2029. "Primary health care is a low margin business," said Arielle Trzcinski, a principal analyst covering health care at research firm. "Compared to what they see in traditional retail, health care is a fundamentally different business," Trzcinski said, citing the challenges of navigating insurance companies and administrative burdens that health care brings. In-store health clinics can be profitable and viable, and retailers are experimenting with piecemeal approaches tailored to the local market.

Persons: Bobbi Radford, Radford, haven't, CVS's MinuteClinic, Karla Lemon, CVS's, I've, That's, Timothy Hoff, Hoff, didn't, Colleen Sanders, Sanders, Arielle Trzcinski, Forrester, Trzcinski, America Sanders, Virgil Brantz, Brantz Organizations: CVS, Walmart, Walgreens, Northeastern University, Insurance, Washington , D.C, Aetna, Retailers, Washington, Hartford HealthCare, Health Clinic, Arizona State University, Little Clinics, Kroger Locations: Batavia , Ohio, VillageMD, Southern California, New England, Conway , South Carolina, Washington ,, MinuteClinic, USA, America, Connecticut, Hartford, Phoenix, Atlanta, Little

☆ Viable, a London fintech that helps e-commerce companies track their finances, has raised $3 million using this 14-slide pitch deck
▼ + stars: | 2024-05-23 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +1 min

London fintech startup Viable has raised $3 million in seed funding. Founded in 2023, Viable helps e-commerce businesses track their finances. AdvertisementViable, a London-based fintech startup that aims to help small businesses with finances, has raised $3 million in seed funding. Founded in 2023, Viable typically works with e-commerce and direct-to-consumer (DTC) companies in beauty, wellness, and fashion to provide clearer data on their finances. Cofounder Franklyn Martin said these e-commerce businesses were facing a double threat: rising costs and investors turning away from the space.

Persons: —, Franklyn Martin Organizations: London, Service, Business Locations: London

☆ CFPB says buy now, pay later firms must comply with U.S. credit card laws
▼ + stars: | 2024-05-22 | by ( Hugh Son | ) www.cnbc.com time to read: +1 min

Rohit Chopra, director of the CFPB, testifies during a House Financial Services Committee hearing on June 14, 2023. The Consumer Financial Protection Bureau declared on Wednesday that customers of the burgeoning buy now, pay later industry must abide by the same federal protections as users of credit cards. The agency unveiled what it called an "interpretive rule" that deemed BNPL lenders essentially the same as traditional credit card providers under the decades-old Truth in Lending Act. "Regardless of whether a shopper swipes a credit card or uses Buy Now, Pay Later, they are entitled to important consumer protections under long-standing laws and regulations already on the books," CFPB Director Rohit Chopra said in a release. The CFPB, which last week was handed a crucial victory by the Supreme Court, has pushed hard against the U.S. financial industry, issuing rules that slashed credit card late fees and overdraft penalties.

Persons: Rohit Chopra, —, PayPal — Organizations: Financial, Consumer Financial, PayPal, Supreme, U.S

☆ Fintech nightmare: 'I have nearly $38,000 tied up' after Synapse bankruptcy
▼ + stars: | 2024-05-22 | by ( Hugh Son | ) www.cnbc.com time to read: +4 min

The situation deteriorated in April after Synapse declared bankruptcy following the exodus of several key partners. That has left users of several fintech services stranded with no access to their funds, according to testimonials filed this week in a California bankruptcy court. One customer, a Maryland teacher named Chris Buckler, said in a May 21 filing that his funds at crypto app Juno were locked because of the Synapse bankruptcy. Synapse had contracts with 20 banks and 100 fintech companies, resulting in about 10 million end users, according to an April filing from founder and CEO Sankaet Pathak. The freeze-up of customer funds exposes the vulnerabilities in the banking as a service, or BAAS, partnership model and a possible blind spot for regulatory oversight.

Persons: Andreessen Horowitz, Chris Buckler, Buckler, Dave, Juno, Sankaet Pathak, Pathak, Joseph Dominguez, Dominguez, Jason Mikula, Mikula Organizations: Istock, Synapse, Evolve Bank & Trust, Mercury, CNBC, Evolve Bank, Trust, Regulators, FDIC, Federal Reserve Locations: California, Maryland, Joseph Dominguez of Sacramento , California, Silicon

☆ How fintech start-up Hiive facilitates pre-IPO investing
▼ + stars: | 2024-05-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow fintech start-up Hiive facilitates pre-IPO investingSim Desai, Hiive CEO and founder, joins CNBC's 'The Exchange' to discuss Hiive's platform, pre-IPO companies creating buzz, and more.

Persons: Sim Desai

☆ CNBC's Inside India newsletter: What's next for India's regulators?
▼ + stars: | 2024-05-17 | by ( Ganesh Rao | ) www.cnbc.com time to read: +6 min

People stand in front of a Reserve Bank of India logo at the Global Fintech Fest in Mumbai, India, 5 September, 2023. Instead, there's been a flurry of activity this month at a number of regulators across India's financial system. That frightened bank investors and immediately knocked off more than 3% from the India Nifty PSU Bank index. "RBI has been tightening the screws," Rajeev Agrawal, hedge fund manager and managing partner at DoorDarshi India Fund, told CNBC's Inside India. We also had hedge fund manager Andrew Holland, who spoke on India's infrastructure projects and the outlook for the country's economy.

Persons: Niharika Kulkarni, there's, Nirmala Sitharaman, SEBI, Rajeev Agrawal, Agrawal, Shailendra Singh, India's, they've, Dinesh Kumar Khara, Andrew Holland, Sri Jegarajah Organizations: Reserve Bank of, Global, Securities and Exchange Board of India, Reserve Bank of India, Futures Industry Association, Bombay Stock Exchange, Reuters, India Nifty, DoorDarshi India Fund, Peak XV Partners, Sequoia Capital, CNBC, CNBC Pro, U.S ., State Bank of India, U.S . Federal Reserve, Center Locations: Reserve Bank of India, Mumbai, India, Sequoia, Sequoia Capital India, Southeast Asia, Maldives, Sri Lanka, Sri, Japan, Indian, Chennai

☆ Watch CNBC's full interview with Shailendra Singh, managing director of Peak XV Partners, one of Asia's biggest venture capital firms
▼ + stars: | 2024-05-16 | by ( Tanvir Gill | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Shailendra Singh, managing director of Peak XV Partners, one of Asia's biggest venture capital firmsPeak XV Partners, formerly Sequoia Capital India and Southeast Asia, has invested in over 400 companies in the technology, software, financial services and consumer space. They include fintech firm Pine Labs, Singapore-based online retailer Carousell, Indonesian ride-hailing giant Gojek as well as Indian edtechs Byju's and Unacademy.

Persons: Shailendra Singh Organizations: XV Partners, Asia's, Sequoia Capital, Labs Locations: Sequoia, Sequoia Capital India, Southeast Asia, Singapore

☆ China is still an important market even if investors diversify from it now, says Peak XV
▼ + stars: | 2024-05-15 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +1 min

China will remain an important market for investors in the long term, even if other countries are now benefiting from investments flowing out of China amid escalating tensions with the U.S., according to Peak XV Partners, formerly Sequoia Capital India and Southeast Asia. "The China Plus One strategy, in terms of sourcing and so on, is definitely benefiting places like India, Southeast Asia," said Shailendra Singh, managing director of Peak XV Partners, one of Asia's biggest venture capital firms with $9 billion of assets under management. Last year, Sequoia split into three independent geographic units – Sequoia Capital in the U.S. and Europe, Peak XV Partners in India and Southeast Asia and HongShan in China. Peak XV has invested in over 400 companies in the technology, software, financial services and consumer space. They include fintech firm Pine Labs, Singapore-based online retailer Carousell, Indonesian ride-hailing giant Gojek as well as Indian edtechs Byju's and Unacademy.

Persons: Shailendra Singh, Singh, CNBC's Tanvir Gill Organizations: U.S, XV Partners, Sequoia Capital, Asia's, Sequoia, Partners, Labs Locations: China, Sequoia, Sequoia Capital India, Southeast Asia, India, U.S, Europe, HongShan, Washington, Beijing, Singapore

Search resuls for: "fintech"

25 mentions found