SoftBank Vision Fund sells stake in dog-walking startup Wag – Bloomberg
SoftBank Vision Fund is selling back its nearly 50 per cent stake in dog-walking startup Wag, a spokesperson confirmed to Bloomberg.
According to an internal memo, Wag will regain control of SoftBank’s two board seats as part of the agreement. The company did not disclose terms of the deal or the number of jobs set to be eliminated during the period.
Wag is currently facing a tough time after its CEO left last month, complemented with its struggle to compete with rival Rover Inc.
The company is one of the unprofitable businesses that SoftBank has invested in; a list that includes Uber and WeWork.
LINE Pay Taiwan teams up with major payments brands – Press Release
Payments platform LINE Pay Taiwan and iiPASS Corporation announced a collaboration with LINE Pay Japan, Rabbit LINE Pay (Thailand), Naver Financial (Korea), and NHN PAYCO (Korea) to launch cross-border payment services.
The collaboration will enable more than 78 million users from Japan, Korea and Thailand to use their local mobile payment services when in Taiwan, with the aim of launching operations in the first quarter of 2020.
LINE Pay Taiwan is also planning to expand the number of partners in the future, enabling users from more countries to benefit from the alliance.
The platform has also launched a new app that aims to offer users a faster, easier payment experience, along with a new logo.
Online invoice exchange platform Incomlend close to securing Series A funding from global investors – e27
Global invoice exchange platform Incomlend is in the final stages of closing its Series A equity fundraising with large global equity investors, a top executive of the Singapore-headquartered startup told e27.
Though he declined to share more details, Co-founder and CEO Dimitri Kouchnirenk said that the company is set to announce the round in December 2019 or January 2020.
Incomlend was established in 2015 by former Columbia Business School classmates Kouchnirenko and Morgan Terigi as software that could provide finance directly to trading companies from a private investor pool.
Rural e-commerce startup Ezay secures investment from EME Myanmar – e27
Early-stage investment firm EME Myanmar has invested an undisclosed amount in Ezay, a Yangon-based e-commerce platform for rural retails outlets.
The funding round also included the participation of an unnamed “influential” startup founder.
Founded in August 2019 by former Oway employee Kyaw Min Swe, Ezay provides a mobile platform that connects rural ‘mom-and-pop’ shops with wholesalers.
Retailers can buy online for the regular shop stock needs and get the products delivered the next day for nominal charges.
As for wholesalers, they have more frequent orders and regular collections from customers. They can also promote their business through the app.
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Image Credit: Markus Spiske on Unsplash
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