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Afterpay supercharges European ambitions with $82m deal

EuropeanAfterpay shares surged to a record high after the fintech juggernaut unveiled an acquisition that it says will expand into a European market.

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Afterpay shares surged to a record high after the fintech juggernaut unveiled an acquisition that it says will expand into a European market where the buy-now-pay-later sector is still in its infancy.

On Monday the $22 billion ASX listed firm announced it had bought Spanish start up credit provider Pagantis in a deal worth at least €50 million ($82.4 million).

That helped spark a 4.3 per cent rally in Afterpay stock to $82.34 as investors bet the company that is now valued at over $22 billion would execute the next leg of its offshore expansion plans successfully.

The purchase of Pagantis from Madrid-based NBQ Corporate comes days ahead of the Afterpay’s full-year results release and follows its previously announced intention to do international deals when it raised $1 billion of new funds in late June.

Pagantis provides traditional buy now, pay later credit services across Spain, Italy and France with approvals in place to operate in Portugal. The Barcelona based fintech has 1400 active merchants and about 150,000 active customers. It is regulated by the Bank of Spain and has 69 staff.

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Source: Afterpay supercharges European ambitions with $82m deal

Source: https://australianfintech.com.au/afterpay-supercharges-european-ambitions-with-82m-deal/

Venture Capital

Next Week’s Earnings Traffic Jam: The Information’s Tech Briefing

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It may be hard to believe, but next week is the last week before the election. Perhaps for that reason, the five big tech firms all decided to release their September quarter profit details next week. That’s fine, except that four of them—Amazon, Alphabet, Apple and Facebook—decided to do it on the same day, Thursday, at about the same time.

Twitter is also reporting that day. So expect a traffic jam of earnings reports on Thursday. But don’t worry, we’ve got your covered: Read down for details on what’s expected for each.

Next week will have other big tech news: On Wednesday, Twitter’s Jack Dorsey, Facebook’s Mark Zuckerberg and Alphabet’s Sundar Pichai will appear before a Senate committee examining “whether Section 230 of the Communications Decency Act has outlived its usefulness.” Expect some fireworks from that hearing!

Source: https://www.theinformation.com/articles/next-weeks-earnings-traffic-jam-the-informations-tech-briefing

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Private Equity

Boston startups expand region’s venture capital footprint

This year has shaken up venture capital, turning a hot early start to 2020 into a glacial period permeated with fear during the early days of COVID-19. That ice quickly melted as venture capitalists discovered that demand for software and other services that startups provide was accelerating, pushing many young tech companies back into growth […]

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This year has shaken up venture capital, turning a hot early start to 2020 into a glacial period permeated with fear during the early days of COVID-19. That ice quickly melted as venture capitalists discovered that demand for software and other services that startups provide was accelerating, pushing many young tech companies back into growth mode, and investors back into the check-writing arena.

Boston has been an exemplar of the trend, with early pandemic caution dissolving into rapid-fire dealmaking as summer rolled into fall.

We collated new data that underscores the trend, showing that Boston’s third quarter looks very solid compared to its peer groups, and leads greater New England’s share of American venture capital higher during the three-month period.

For our October look at Boston and its startup scene, let’s get into the data and then understand how a new cohort of founders is cropping up among the city’s educational network.

A strong Q3, a strong 2020

Boston’s third quarter was strong, effectively matching the capital raised in New York City during the three-month period. As we head into the fourth quarter, it appears that the silver medal in American startup ecosystems is up for grabs based on what happens in Q4.

Boston could start 2021 as the number-two place to raise venture capital in the country. Or New York City could pip it at the finish line. Let’s check the numbers.

According to PitchBook data shared with TechCrunch, the metro Boston area raised $4.34 billion in venture capital during the third quarter. New York City and its metro area managed $4.45 billion during the same time period, an effective tie. Los Angeles and its own metro area managed just $3.90 billion.

In 2020 the numbers tilt in Boston’s favor, with the city and surrounding area collecting $12.83 billion in venture capital. New York City came in second through Q3, with $12.30 billion in venture capital. Los Angeles was a distant third at $8.66 billion for the year through Q3.

Source: https://techcrunch.com/2020/10/23/boston-startups-expand-regions-venture-capital-footprint/

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Venture Capital

The Information’s 411 — Quibi, We Hardly Knew Ye

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Latest Briefs

Female Exec Exodus at Netflix Continues

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Source: https://www.theinformation.com/articles/the-informations-411-quibi-we-hardly-knew-ye

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