In today’s top payments news around the world, Pollinate has notched $50 million to bring its software business to North America and develop its platform technology, while The Rise Fund will invest $200 million in the mobile money business of Airtel Africa. Plus, Alibaba Group will reportedly host its Taobao Deals app on Tencent WeChat’s infrastructure.
Pollinate Raises $50 Million To Enter North American Market
United Kingdom-based Pollinate has landed $50 million to bring its software business to North America and build out its platform technology. As it stands, the company is in advanced discussions with a number of banks in North America. Insight Partners headed up the Series C funding round, which also included investments from current backers.
The Rise Fund Will Invest $200 Million In Airtel Africa’s Mobile Money Arm
TPG’s international impact investing platform The Rise Fund will provide Airtel Africa’s mobile money business with a $200 million infusion. “We look forward to working with Airtel Africa to enhance their mobile money services, broaden its use cases, and grow into new markets,” Yemi Lalude, who leads Africa investing for The Rise Fund, said in an announcement.
China’s Tencent To Host Alibaba’s Bargains App, Taobao Deals
Alibaba Group will reportedly host its Taobao Deals bargains app on Tencent’s WeChat system. The move was said to be brought about by China’s antitrust regulators, who are in the middle of an effort to reel in internet-based monopolies. Alibaba has reportedly contacted some merchants and invited them to take part.
Chinese Social Network Soul Files For US IPO
Social media app Soul’s parent company, Shanghai Renyimen Technology, has reportedly privately filed for an initial public offering (IPO) in the United States, which could occur in 2021 at the earliest. Soul, which was formed in 2016, allows like-minded users to locate each other via suggestions that are strengthened by artificial intelligence (AI).
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