Report: WeWork expected to cut 500 tech roles The WeWork saga continues this week with new reports the company may slash as many as 500 tech roles. The co-working business, whose eccentric co-founder and chief executive officer Adam Neumann stepped down two weeks ago, is expected to let go of 350 employees […]

PayPal is the first company to drop out of the Facebook-led Libra Association PayPal is the first company to walk away from Facebook’s Libra cryptocurrency. PayPal’s decision to take its ball and go home was first reported by The Wall Street Journal . “PayPal has made the decision to forgo further participation […]

Acronis raises 7M from Goldman Sachs to expand its cyber security services When you hear the name Acronis, chances are you’re thinking about products like its disk cloning tool True Image or maybe its backup services. The company, though, wants you to think about cyber protection and all of its products (and […]

Plaid announces strategic investment from Mastercard and Visa When Plaid announced its $250 million Series C investment, last year, it left out a couple of key investors. Today it revealed that Mastercard and Visa had also quietly participated in the round. For a company like Plaid, which builds APIs to enable customers […]

Europe’s antitrust chief, Margrethe Vestager, set for expanded role in next Commission As the antitrust investigations stack up on US tech giants’ home turf there’s no sign of pressure letting up across the pond. European Commission president-elect Ursula von der Leyen today unveiled her picks for the next team of commissioners who […]

Accion Venture Lab launches M inclusive fintech startup fund Accion Venture Lab—the seed-stage investment arm of non-profit Accion—has raised $23 million for a new inclusive fintech startup fund. The Accion Venture Lab Limited Partnership, as its called, will make seed-stage investments in inclusive fintech startups, defined as ventures that “that leverage technology […]

Klarna raises 0 million, looks to expand its payments presence in the U.S. Swedish payments provider Klarna has announced a new round of equity funding, adding $60 million at a post-money valuation of $5.5 billion, which makes it one of the most highly-valued private fintech companies in the world. The new funding […]

Financial services marketplace CompareAsiaGroup raises million in new funding led by Experian Experian, one of the largest credit reporting bureaus in the United States, announced today that it has invested in CompareAsiaGroup, the financial services marketplace. Experian led the initial closing of a $20 million B1 round. In addition to new funding, […]

Libra, Facebook’s global digital currency plan, is fuzzy on privacy, watchdogs warn Privacy commissioners from the Americas, Europe, Africa and Australasia have put their names to a joint statement raising concerns about a lack of clarity from Facebook over how data protection safeguards will be baked into its planned cryptocurrency project, Libra. […]

UK challenger bank Atom raises another £50M from BBVA and more at £530M valuation Another hopeful among Europe’s so-called challenger banks — startups taking on the big names in consumer banking by targeting niche groups of users with a more modern set of tools to manage users’ money — has raised a […]