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Top related persons:
Monzo - 2 Anil - 2 Catalyst - 1 Monzo's - 1 Cash - 1 Conor Walsh - 1 Nazım Salur - 1 Nazım - 1
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British Abu Dhabi London Europe New York Monzo Starling Spanish
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Abu Dhabi Growth Fund - 3 Business - 1 Sky News - 1 Silicon - 1 VC - 1 fintech - 1 Finch - 1 London - 1

Search resuls for: "Abu Dhabi Growth Fund"


5 mentions found


☆ Alphabet wants to invest in British fintech bank Monzo before it goes public
  + stars: | 2023-11-22 | by ( Callum Burroughs | ) www.businessinsider.com   time to read: +3 min
Monzo, a British fintech bank, is in talks with Alphabet's private investment arm Capital G to raise what is primed to be its last funding round before a public listing. The bank touts around 8.5 million customers in the UK and is best known for its bright coral pink bank cards. Fintech funding in Europe dropped 70% to $5 billion from $17.1 billion in the first half of 2023, compared with 2022, according to Finch Capital. The prospective funding round is set to be the fintech's last private raise before a mooted public debut that would likely take place in late 2024 or 2025. The British bank reported £116.3 million in losses last year despite more than doubling its revenue.
Persons: Monzo, Catalyst, Monzo's, Cash, Conor Walsh, Anil Organizations: Business, Sky News, Abu Dhabi Growth Fund, Silicon, VC, fintech, Finch, London, Starling Bank Locations: British, London, Abu Dhabi, New York, Europe, Monzo, Starling
☆ Getir emerged as a tentative winner in Europe's pandemic-fueled rapid-delivery sector. But it still faces sizable threats.
  + stars: | 2023-09-18 | by ( Riddhi Kanetkar | Callum Burroughs | ) www.businessinsider.com   time to read: +8 min
In March 2022, Nazım Salur invited thousands of Getir employees to a Zoom meeting to celebrate its newfound "decacorn" status. However, as soaring inflation and rising interest rates began to hobble the tech sector, investors became far less forgiving of businesses that had oriented themselves more toward growth than sustainability. In December 2021, The Guardian reported that Getir had offered customers a deal where they could get £15 off if they spent £16. About 21 rapid-delivery startups were operating across Europe in 2021, with Getir joined by the German outfits Gorillas and Flink, as well as the British startup Zapp. Getir tentatively emerged as the winner in the rapid-delivery sector when it bought its main competitor, Gorillas , in a heavily discounted deal for $1.2 billion in December.
Persons: Nazım Salur, Nazım, Getir, Blok, London's, Alexi Rosenfeld, they've, Adam Neumann, Michael Moritz Organizations: Tiger Global, Mubadala, Financial Times, Getir, TechCrunch, Guardian, DST Global, Gorillas, Abu Dhabi Growth Fund, Google, PayPal Locations: Spanish, Berlin, Turkey, Turkish, Germany, Netherlands, Istanbul, Turkey's, Europe, British, Abu Dhabi
☆ UK fintech bank Monzo more than doubles revenue but marginally narrows losses to $143 million, results show
  + stars: | 2023-05-31 | by ( Callum Burroughs | ) www.businessinsider.com   time to read: +2 min
London-based fintech bank Monzo more than doubled its revenue last year, results show. The company, founded in 2015, also narrowed losses marginally to £116.3 million ($143.4 million). British fintech bank Monzo more than doubled its revenue last year and marginally narrowed losses to £116.3 million ($143.4 million), according to results published on Wednesday. Monzo, famous for its bright coral pink debit cards, added another 1.6 million customers with the bank now servicing around 7.4 million users. The company's results come after fellow London-based fintech bank Starling, announced a pre-tax profit of £195 million ($241 million).
Persons: Anil, Monzo, Starling, Y Combinator, Tom Blomfield, Combinator Organizations: Catalyst, Abu Dhabi Growth Fund Locations: British, London, Abu Dhabi
☆ Investment banks approach Monzo over potential IPO as $4.5 billion fintech plots investing push, sources say
  + stars: | 2023-02-23 | by ( Callum Burroughs | ) www.businessinsider.com   time to read: +4 min
Investment banks have been in talks with Monzo over a future IPO, sources told Insider. The London-based fintech has also been in discussions to grow its wealth and investment offering. A number of leading investment banks have held initial talks with British fintech unicorn Monzo about a public listing that could take place as early as next year, sources say. Some investment banks have opted to cull teams of staff focused on M&A and stock issuance in recent months, most notably Goldman Sachs. The fintech has also been on the lookout for acquisitions and partnerships in the wealth and trading space, two sources told Insider.
☆ Delivery startup Getir in advanced talks to buy Gorillas- Bloomberg News
  + stars: | 2022-10-10 | by ( ) www.reuters.com   time to read: +1 min
Oct 10 (Reuters) - Turkish fast delivery startup Getir is in advanced talks to buy Berlin-based rival Gorillas Technologies GmbH, Bloomberg News reported on Monday, citing people familiar with the matter. The potential deal would give Getir scale in key European markets including the UK and Germany, the report said. No final decisions have been made, but the proposed deal would be a mix of cash and equity, Bloomberg added. Abu Dhabi Growth Fund (ADG), Alpha Wave Global, Sequoia Capital and Tiger Global participated in the funding round. read moreWhen contacted by Reuters, a Getir spokesperson said they could "neither confirm or deny" the Bloomberg report, while Gorillas said it will not provide any comment.
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