Kavak raised $810 million in financing; & more!

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NEWS HIGHLIGHT

Kavak raised $810 million in financing. Kavak signed structured financing agreements worth USD $810M with HSBC, Goldman Sachs, and Banco Santander. Kavak operates as a buying and selling platform for used cars. The startup also reconditions the vehicles for sale in its own centers. Link here.

FINTECH NEWS

#BreakingNews

• Klarna to make the second round of job cuts. The Swedish BNPL firm confirmed the new round of job cuts to Sifted and said fewer than 100 employees would be affected globally. Link here


• Shares of Robinhood were little changed giving up early gains, after a report that U.S. regulators would not ban payment for order flow, a key part of the company's business model. Link here

#FinTechIndustry

• M&A activity accelerates in DACH. Over the last ten and a half years, DACH’s fintech industry has seen US$23.1 billion worth of transactions taking place. Link here


• Lidio joins FinTech industry. The new Turkish player seeks to provide a multi-channel and independent payment experience to millions of consumers. Link here