The Week in Review

The Week in Review

Friday May 18, 2018 –

Here are the new and noteworthy stories we have been following this week.

Former Citigroup CEO Vikram Pandit Makes $100 Million Investment in Credit-Card Startup

The Orogen Group, an investment firm, is committing $100 million in equity to Fair Square Financial LLC.

Worldline’s $2.75 billion deal for SIX Payment Services sets stage for more consolidation

World acquires SIX Group for $2.75 billion.

Ripple Launches ‘Xpring’ Initiative to Invest in XRP-Focused Startups

Ripple launches Xpring (pronounced “spring”)  to support to startups and projects that make use of the digital asset XRP and the open-source XRP Ledger.

Tencent beats profit expectations with high score from mobile games

Tencent announced a 61% increase in profits on a strong contribution from its mobile games and online advertising businesses.

Invest Georgia Allocated Another $10M to Support Georgia’s Venture Funds

Invest Georgia the state-funded investment program, has received an additional $10 million in the FY 2019 state budget.

Circle raises $110 million (or 13,300 BTC)

Circle has raised a $110 million funding round, which values the company near $3 billion.

PayPal Agrees to Buy European Fintech Startup iZettle for About $2.2 Billion

PayPal acquires iZettle for $2.2 billion.

DBS to roll out ‘Live more, bank less’ rebrand as digital transformation takes hold

DBS is evolving its positioning to “Live more, Bank less”.

Square stumbles into the banking business

Square’s customers are using its Cash app as a bank account.