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Chinese e-commerce giant JD.com has started quietly piloting its cross-border platform Joybuy in the UK, marking its push into the European market. The move signals JDs ambitions to capture a slice of the UKs 127 billion ($163 billion) retail e-commerce market in 2024 the third-largest globally.
Li said many experienced personnel had been moved into the new team early this year, adding that the company is confident it will make significant progress in the overseas market this year. billion) in 2024, dragging its shares on the Nasdaq down more than 4% as of market close on March 14.
The news comes months after rival BYDs compact crossover Atto 3 arrived in UAE via an alliance with local dealership Al-Futtaim in June. Geely-affiliated Zeekr signed sales agreements with partners in UAE, Saudi Arabia, Qatar and Bahrain last month. TechNode reporting , Caixin, in Chinese ]
Micro and small businesses in emerging markets still struggle to access digital payments for several reasons. The plan for the company is to provide merchants with access to accounts, cards, local payment networks and lending. In the UAE, it can take nearly six months to set up a business bank account.
the corporate spend space is getting increasingly competitive, with several startups clamoring to gain market share. But in the Middle East, the market is far less crowded. That has accelerated card acceptance –– with 90% card acceptance rates in the UAE and Saudi Arabia by some estimates — in the region. and the UAE.
While we have users from many countries on the site, folks from UAE, Saudi Arabia, Kuwait, the UK, and India are our top five investor bases,” Tabbara said. All properties usually have an investment term of five periods, but a house’s value goes up 30% in the market, and the investors can vote to sell it.
“The exceptional capacity of Langoo in its local business with Riiid Tutor was the main reason for this acquisition,” said co-founder and CEO of Riiid YJ Jang. By leveraging this investment, we will capture broader Japanese market opportunities. The company expects to address local remote learning and education in the market.
This is Equity Monday, our weekly kickoff that tracks the latest private market news, talks about the coming week, digs into some recent funding rounds and mulls over a larger theme or narrative from the private markets. With a busy funding market and a yet-busy IPO cycle, it should be yet another busy week.
Invygo, a startup operating in UAE and Saudi Arabia, has raised $10 million in its Series A funding led by MEVP as it works to scale its car rental service in the region. Roughly 200 cars are available for subscription in Saudi Arabia and 100 in UAE on the platform on a typical day. million to date. Growing subscribe-to-own service.
The round was led by existing investor BECO Capital (UAE) and joined by 4DX Ventures (USA), GSV Ventures (USA), Watar Partners (KSA) and others. Founded in late 2019, the startup has expanded from Jordan into Egypt and Pakistan.
A few years ago, Richard Schrems was working as a human resources consultant in Riyadh, and at one point sought to implement a tech-solution for his clients to help them better their huge teams, but couldn’t find a localized solution. With a similar, but localized approach, we believe that palm.hr Image Credits: Palm.hr
based VCs Global Founders Capital (GFC) and Goodwater Capital and UAE-based early-stage firm VentureSouq. The plan is to scale in the country and then expand to other markets,” Ismail stated. “We We anticipate being in at least one market before the end of the year and a couple more early next year.”.
Detroit-based Airspace Link has positioned itself as a provider of increasingly important infrastructure in the burgeoning drone services space, letting operators get local and federal approval quickly. CFO Bill Johnson thinks local governments are looking for a way to turn this from a line item into a revenue generator.
Others include developing its proprietary technology stack and growing its three models — where it makes $5 million in MRR — across existing and new markets, it said in a statement. SWVL is present in 13 markets globally: the UAE, Egypt, Kenya, Germany, Spain, Italy, Switzerland, Turkey, Japan, Argentina, Saudi Arabia, Jordan and Pakistan.
In addition, Volopay will hire aggressively in each of its new markets. . Volopay’s platform provides startups and enterprises flexibility by issuing virtual and/or physical prepaid multicurrency corporate cards in their local currency (SGD, AUD, INR, IDR, PHP, etc) with up to 5% cashback on all card transactions.
Cross-border logistics company iMile Delivery has recently entered the Italian market and established its European headquarters in Germany, becoming the first Chinese express delivery startup to enter Europe, according to an August 7 report by Chinese media outlet LatePost. The company targets the Middle East delivery market.
The cash from Gogoro is an extension of a strategic partnership between the two companies, and a signal of Gogoro’s continued commitment to the Indian market. Founded in 2017, Zypp Electric operates as an OEM-agnostic firm, working with local EV manufacturers such as Hero and Kinetic to acquire e-bikes — mostly on lease.
Kikoff is hiring for 10 roles (a mix of hybrid and remote), including senior product manager, associate product manager, senior product designers, engineers and a growth marketing manager. Sellers who opt to sell their home on the market will be paired with a local Zillow Premier Agent partner. For those of you in the U.S.,
In announcing the deal, they said: “DeFi-enabled B2B payment networks that are on chain can unlock transformative working capital efficiencies, and make financial services more fair and open, especially in developing markets like LATAM.”. We are starting to see some of the public market valuations impact private market valuations.
As we all know, the housing market goes through cycles. Prospective home buyers, turned off by the rate surge as well as the competitive and overheated housing markets, began to reconsider their plans, as buying was suddenly far less appealing. Low interest rates mean more purchases and refinances. Fintech for good? Weekly News.
The company has bucked an industry-wide weakening market this year, posting an 89.3% The journey usually starts in developing countries in Latin America, Africa, and the Pacific region, and ends in Europe and the US, despite geopolitical uncertainties still the most competitive auto markets in the world.
The UAE took in 46% of the total venture capital received in the Middle East and Africa in 2021, according to the country’s Ministry of Economy. In 2017, the UAE created an artificial intelligence ministry position, which it filled with H.E. TechCrunch: Is the UAE’s venture capital presence fairly new? were invested in the UAE.
Meituan, Chinas local services platform, is accelerating its global expansion with a renewed focus on grocery retail, international markets, and artificial intelligence, CEO Wang Xing announced in a recent internal meeting. Context: Meituan, Chinas leading on-demand service platform, has seen rapid transformation over the past decade.
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