Will central bank digital currencies dethrone the dollar?

Some say the greenback’s dominance of cross-border payments will be erodedThis week marks the 50th anniversary of “the weekend that changed the world”, when the US president Richard Nixon suspended the dollar’s convertibility into gold at a fixed price…

Omnibiz gets $3M to digitize Nigeria’s informal B2B supply chain

Despite the prevalence of shopping malls and the emergence of VC-backed e-commerce companies like Jumia, informal retail in Africa is still king. A 2016 study by PwC states that 90% of sales in Africa’s major economies come through informal channels — markets and kiosks. This presents a large market ripe for digitization, and over the […]

Instagram tests ads in its Shop tab

Instagram is further investing in its e-commerce business, Instagram Shops, with the launch of a new advertising product, Ads in Instagram Shop. The company says it’s currently testing the new format, which includes both single images and the option for an image carousel, with select U.S.-based advertisers ahead of an expansion to other markets in […]

Turkey’s first decacorn: Trendyol raises $1.5B at a $16.5B valuation

Trendyol, an e-commerce platform based in Turkey, has raised $1.5 billion in a massive funding round that values the company at $16.5 billion. General Atlantic, SoftBank Vision Fund 2, Princeville Capital and sovereign wealth funds, ADQ (UAE) and Qatar Investment Authority co-led the round.  The deal marks SoftBank’s first in the country. The new financing […]

Vietnamese on-demand e-commerce platform Loship raises $12M at a valuation of $100M

Loship, the Vietnamese on-demand e-commerce platform that started as a reviews app, announced today it has raised $12 million in pre-Series C funding, bringing its valuation to $100 million. The round was co-led by BAce Capital, an Ant Group-backed venture firm, and the direct investment unit of Sun Hung Kai & Co Limited.  Founded in […]