In today’s top payments news around the world, Glovo will buy Delivery Hero’s operations in the Balkans, while Paysend has closed a $125 million Series B funding round headed up by One Peak. Plus, Paytm is said to be eyeing a $3 billion initial public offering (IPO).
Glovo Takes Over Delivery Hero’s Balkan Business For $207 Million
Delivery Hero said on Wednesday (May 26) that Glovo will purchase the firm’s business in the Balkans. The $207 million arrangement will see Glovo take over Delivery Hero’s operations in Serbia, Romania, Montenegro, Bulgaria and Bosnia-Herzegovina. “Present in all six countries and already holding a very strong position, Glovo is well-placed to continue investing into improved customer experience, long-term and sustainable operations, and further build-out [of] the businesses locally,” Delivery Hero said in an announcement. The news comes as Glovo recently announced that it landed $530 million in a Series F funding round.
Global FinTech Paysend Closes $125 Million Funding Deal
Paysend has wrapped up a One Peak-led $125 million Series B funding round. The global financial technology firm was established in the United Kingdom in April 2017 by Abdul Abdulkerimov and currently reaches over 3.7 million individuals, 17,000 small and medium-sized enterprises (SMEs) and 110 receiving nations. “Paysend’s vision is to develop the next generation integrated global payment ecosystem for consumers and SMEs,” Paysend CEO Ronnie Millar said in an announcement.
India’s Paytm Eyes $3 Billion IPO At $25 Billion Valuation
Paytm, the Indian payments provider, is reportedly eyeing a $3 billion IPO at a valuation between $25 billion and $30 billion that could be the largest the nation has ever seen. The upstart could reportedly list in India to coincide with the Diwali festival season that begins Nov. 4. Paytm, which was known as One97 Communications in the past, is supported by big investors. The news comes as Paytm recently rolled out a smart point-of-sale (POS) tool for Android devices.
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