On Wall Street, there are haircuts — and then there are full-blown shearings. Yes, the headlines may be focused on Klarna’s 85% shellacking when its most recent financing round, at $800 million, implies a $6.7 valuation that is leagues below the $45.6 billion seen last year....
Two years ago, a low-interest environment and pandemic-induced surge in eCommerce resulted in a buy now, pay later (BNPL) boom that saw the likes of Swedish provider Klarna rise to become globally recognized brands and giants of the digital payments space. And as investors saw...
There’s a huge gap in working capital financing for small- and medium-sized businesses (SMBs) in emerging markets across Africa, estimated at about $340 billion by the World Bank. And to help keep businesses afloat, most business-to-business (B2B) firms are tackling the problem by providing cash-based...
Dubai tech company Toggle Market is debuting a financing program that will offer a buy now, pay later (BNPL) function for hotels and restaurants, a company press release said. “BNPL for business is vastly different to B2C BNPL,” said Fuad Sajdi, CEO of Toggle Market,...
Amazon Egypt is now offering buy now, pay later (BNPL) plans to qualified buyers through valU, the companies announced Sunday (July 3). FinTech valU serves the Middle East and North Africa (MENA) region and is a subsidiary of EFG Hermes Holding. According to the announcement,...
Buy now, pay later (BNPL) firm Klarna is preparing to raise new funds in a weak environment, a move that has reduced its valuation to roughly $6.5 billion, the Wall Street Journal reported Friday (July 1). That number represents a significant retreat for the company, which was valued at $45.6...
Australian buy now, pay later (BNPL) firm Openpay Group is pulling out of the U.S. after only a few months in the country, Reuters reported on Friday (July 1). While Openpay had called the U.S. its main growth market, rising interest rates, poor economic conditions...
Cairo-based FinTech Hollydesk announced on Thursday (June 30) a buy-now-pay-later (BNPL) option that lets its small business customers pay vendors over a 30-to-90 day period. Hollydesk’s main product is its system, which processes invoices and employee expenses. The company also analyzes expenses on behalf of...
Buy now, pay later (BNPL) is one of the most significant emerging trends in the world economy. These solutions typically allow customers to put zero dollars down at the point of purchase and instead pay for their merchandise over the course of several installments, made...
