In current 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 led by One Peak. Additionally, Paytm is reportedly considering an initial public offering (IPO) of $ 3 billion.
Glovo takes over Balkan Delivery Hero’s business for $ 207 million
Delivery Hero said Wednesday, May 26, that Glovo will buy out the company’s activities in the Balkans. The $ 207 million deal will see Glovo take over Delivery Hero’s operations in Serbia, Romania, Montenegro, Bulgaria and Bosnia and Herzegovina. “Present in all six countries and already in a very strong position, Glovo is well positioned to continue investing in an improved customer experience, long-term and sustainable operations, and further development. [of] businesses at the local level, ”Delivery Hero said in an announcement. The news comes as Glovo recently announced that it had landed $ 530 million in a Series F funding round.
Global FinTech Paysend Reaches $ 125 Million Funding Agreement
Paysend closed a $ 125 million Series B funding round led by One Peak. The global fintech company was founded in the UK in April 2017 by Abdul Abdulkerimov and currently reaches over 3.7 million people, 17,000 small and medium-sized enterprises (SMEs) and 110 host countries. “Paysend’s vision is to develop the next-generation integrated global payments ecosystem for consumers and SMEs,” Paysend CEO Ronnie Millar said in an announcement.
Paytm in India plans $ 3 billion to $ 25 billion IPO
Paytm, the Indian payments provider, is reportedly considering a $ 3 billion IPO with a valuation of between $ 25 billion and $ 30 billion, which could be the largest the country has ever seen. The upstart could apparently register in India to coincide with the Diwali festival season which begins on November 4. Paytm, which was known as One97 Communications in the past, is backed by large investors. The news comes as Paytm recently rolled out a smart point of sale (POS) tool for Android devices.