Global Processing Services adds $100M to its coffers to grow its embedded finance and API payments platform

Embedded finance continues to be the engine driving the growth of fintech, with one group of companies building core banking, payments and other financial technology, and a much bigger group tapping that technology through APIs to build customer-facing businesses. Today, one of the bigger players on the core technology side — Global Processing Services — […]

Tier scoots off with ‘first close’ of its $200M Series D

Berlin-based e-scooter rentals company Tier Mobility has announced what it’s billing as the “first close” of a $200 million Series D, as investors continue to plough money into urban micromobility. Today’s announcement follows a $60M debt raise this summer, and a $250M Series C last November (led by SoftBank). It’s not clear from its PR […]

Olympus US hack tied to sanctioned Russian ransomware group

An “ongoing” cyberattack against the Japanese technology giant Olympus was caused by a Russian ransomware group sanctioned by the U.S. government, according to two people with knowledge of the incident. A new malware variant known as Macaw was used in the attack that began on October 10, which encrypted Olympus’ systems in the U.S., Canada […]

CISA, NSA, FBI say BlackMatter ransomware group is targeting the US food industry

A joint advisory issued by the Cybersecurity and Infrastructure Security Agency (CISA), the Federal Bureau of Investigation (FBI) and the National Security Agency (NSA) has warned that the BlackMatter ransomware group has targeted “multiple” organizations deemed critical infrastructure, including two organizations in the U.S. food and agriculture sector. The agencies did not name did not name […]

Facebook-backed 2Africa set to be the longest subsea cable upon completion

Facebook announced on Tuesday that its 2Africa cable would now extend to over 45,000 kilometers with the addition of nine landings collectively dubbed the 2Africa Pearls. The subsea cable will directly connect three continents — Africa, Europe and Asia. The extension will see 2Africa become the longest subsea cable system in the world upon completion, […]

Egyptian startup Capiter raises $33M to expand B2B e-commerce platform across MENA

Funding startups that help manufacturers and sellers distribute products and merchants access them on a single platform keeps increasing across Africa. Today, Cairo-based B2B e-commerce startup Capiter continues that trend by raising a $33 million Series A round. The investment was co-led by Quona Capital and MSA Capital. Other participating investors include Savola, Shorooq Partners, […]

Technology giant Olympus hit by BlackMatter ransomware

Olympus said in a brief statement Sunday that it is “currently investigating a potential cybersecurity incident” affecting its European, Middle East and Africa computer network. “Upon detection of suspicious activity, we immediately mobilized a specialized response team including forensics experts, and we are currently working with the highest priority to resolve this issue. As part […]

Medal.tv, a video clipping service for gamers, enters the livestreaming market with Rawa.tv acquisition

Medal.tv, a short-form video clipping service and social network for gamers, is entering the livestreaming market with the acquisition of Rawa.tv, a Twitch rival based in Dubai, which had raised around $1 million to date. The seven-figure, all-cash deal will see two of Rawa’s founders, Raya Dadah and Phil Jammal, now joining Medal, and further […]