As consumers grow tired of retailers’ increasing utilization of locked display cases, cable ties and electronic tags, many are switching to digital channels to eliminate this major friction point, Amazon CEO Andy Jassy noted. On the eCommerce giant’s earnings call Thursday (Aug. 1), Jassy spoke...
Cartona has raised $8.1 million in a Series A extension fundraise to continue growing the product rollout, verticals and offerings of its B2B platform for businesses in Egypt and, in the future, other markets in the Middle East and North Africa (MENA) region. The platform currently...
Online fashion resale platform ThredUp introduced a suite of artificial intelligence-driven shopping tools. The new offerings include an improved search function, an enhanced image search, and the company’s new AI-powered chatbot, according to a Monday (Aug. 5) press release. “AI presents an enormous leap forward...
Thrive Capital reportedly raised $5 billion for its biggest-ever pair of venture capital funds. The fundraising is a sign that the artificial intelligence boom is reviving investor enthusiasm, The Wall Street Journal reported Monday (Aug. 5). Thrive told its investors Sunday (Aug. 4) that it...
Mexico-based FinTech Aviva has raised $5.5 million in seed funding. “This oversubscribed round highlights the strength of our model’s unit economics, as well as our mission to provide innovative and accessible financial services to a market of 70 million people who are still underserved or...
This week in paycheck-to-paycheck shopping news, retail brands are sharing that consumers are becoming less cautious in their spending on small purchases such as groceries, even as they continue to show belt-tightening behaviors for large-ticket products such as furniture. Consumer packaged goods brands Mondelez International...
Axle Automation raised $2.5 million in a seed funding round to grow its artificial intelligence (AI)-powered anti-money laundering and know your customer (AML/KYC) solutions. The company will use the new funding to scale its team and deliver its solutions to more FinTechs, banks and other...
Cross-border payments infrastructure platform Layer2 Financial raised $10.7 million in a Series A round. The new funding will allow Layer2 to enhance its infrastructure, which uses fiat and digital currencies to securely move billions of dollars per year, according to a Wednesday (July 31) press...
Amid a merger worth $2.6 billion, Saks reportedly owes vendors hundreds of thousands. The luxury retailer, which last month announced it was merging with Neiman Marcus, has missed payments to dozens of the brands it works with, fashion industry news source Glossy reported Monday (Aug. 5). “What I don’t understand is how...
