Fintech start-up TransferWise gets FCA approval to offer investments

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TransferWise co-founders Kristo Käärmann and Taavet Hinrikus.

TransferWise

Financial technology firm TransferWise has obtained a license from the U.K. markets watchdog to offer retail investment services to clients.

The London-based firm started life as a means of sending money internationally online. In 2018, it made a deeper push into banking by offering a “borderless” multi-currency account tied to a debit card.

Now, TransferWise plans to launch a service that lets users of the account invest passively in investment funds from third-party providers. The company said Wednesday that it had received permission from the U.K.’s Financial Conduct Authority to deal in

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Online payments startup Checkout.com triples valuation to $5.5 billion

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The logo for payments start-up Checkout.com.

Checkout.com

Online payments start-up Checkout.com has raised $150 million in funding at a $5.5 billion valuation — nearly three times what it was worth when it last raised cash.

Founded in 2012, the London-based company sells a software platform that makes it easier for businesses to process and take payments over the web. It competes with the likes of U.S. firm Stripe and Dutch processor Adyen.

Checkout.com mostly flew under the radar until 2019, when it tapped external investors for the first time to raise a $230 million Series A round. That deal —

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VW closes $2.6 billion investment in self-driving startup Argo AI

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Volkswagen AG CEO Dr. Herbert Diess, left, and Ford CEO Jim Hackett during a press conference in New York, July 12, 2019.

Meghan Reeder | CNBC

Volkswagen AG has closed on its $2.6 billion investment in Argo AI, the Pittsburgh-based autonomous vehicle start-up announced in a blog post Tuesday.

The German automaker’s deal with Argo and Ford Motor, which acquired a majority stake in the start-up in 2017, included $1 billion in cash and Argo taking over VW’s European self-driving unit, valued at $1.6 billion, as well as the unit’s more than 1,000 employees. VW also agreed to purchase $500

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Amazon’s Jeff Bezos buying stake in UK digital startup Beacon

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Jeff Bezos, founder and CEO of Amazon, pictured on September 13, 2018.

Bloomberg | Getty Images

Jeff Bezos is investing in U.K. digital freight forwarding and supply chain finance firm Beacon, Sky News reported Sunday, without stating its sources.

The Amazon CEO and world’s richest man is taking part in Series A fundraising worth $15 million for the British startup, Sky reported. 

Freight forwarding is a trillion dollar industry, and Beacon aims to act as the booking agents between importers and exporters while facilitating trade logistics and finance, its website says. 

Based in London and founded in 2018, Beacon’s investors

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