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With over 1.3 million users, Nigerian-based fintech FairMoney wants to replicate growth in India

TechCrunch

That said, FairMoney also claims to have an NPL ratio lower than 10%. . Like Nubank in Brazil, FairMoney started off offering loans to solve the access to credit problem. Annual percentage rates fall within 30% to 260% — the high APR, Hainy says, is due to higher default rates in Nigeria.

India 106
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Opontia raises $20M to roll up e-commerce brands in Africa and the Middle East

TechCrunch

While Opontia does not disclose the ratio of equity and debt, it confirmed that the majority was debt which will be used to make acquisitions. Brazil has annual sales reaching $36 billion, accounting for 32% of Latin America’s e-commerce market. The second-largest market, which is the U.S, stands at over $350 billion.

Africa 105
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Casavo, an Opendoor-style proptech from Italy, raises $410M to expand its instant buyer platform across Europe

TechCrunch

“For sure firms like Opendoor or Loft in Brazil a source of inspiration for us,” Tinacci admitted, adding that some have casually referred to Casavo as a “European Opendoor.” “We expect this ratio to be in 50% in one year,” he added.

Italy 81
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How Apple is making the antitrust case against it stronger

The Verge

WhatsApp finally launched its payments app, starting in Brazil. If nothing else, agreeing to go before Congress indicates that three of the four Big Tech CEOs feel comfortable defending themselves against charges of anticompetitive behavior. Today in news that could affect public perception of the big tech platforms.

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TechCrunch+ roundup: Yahoo leaves China, Nubank IPO, B2C expansion tips

TechCrunch

“With over 40 million users across Brazil, as well as Mexico and Colombia,” the fintech company’s LTV/CAC ratio is central to its success, they found. After Nubank filed its F-1, Natasha Mascarenhas and Alex Wilhelm dissected the document to learn more about the operations of one of the world’s largest startups.

Yahoo 89
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How Twitter is shifting the power balance from companies to their employees

The Verge

In addition to India, Instagram Reels is live in Brazil, and as of recently, France and Germany. Coming Tuesday : The Verge brings you further inside Clubhouse. And in this column: what does the CEO’s past at Pinterest and Highlight tell us about his approach to moderation and privacy?

Twitter 78
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TikTok’s success has made it a big target for regulators

The Verge

Face to Face, as the company calls it, is rolling out as a test in 13 countries, including in the US in Virginia, Illinois, Georgia, and Colorado, as well as in Australia, Brazil, and France. On one side there is an erratic, xenophobic American administration that relishes punitive bans; on the other is a brutal authoritarian regime.