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JCPenney Files for Chapter 11 Bankruptcy

May 16, 2020

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African crypto usage spurs Luno as customers reach 7M

The crypto industry as a whole has seen a momentous year of growth, heavily spurred on by the entrance of institutional investors adopting bitcoin due to its store of value properties . The 2020 spike bitcoin experienced was also accelerated by its global adoption as the number of global cryptocurrency users surpassed 100 million in Q3 2020 . For Luno , a U.K.-based crypto company founded by Marcus Swanepoel and Timothy Stranex in 2013, it grew to 6 million customers from January 2020 to January 2021 . However, that number has since gone up to 7 million. Today the company, headquartered in London, has nearly 400 employees across London, South Africa, Malaysia, Indonesia, Nigeria and Singapore, with customers in 40 countries globally . According to CEO Swanepoel, Luno’s numbers have been increasing month-on-month over the last seven years . However , this is the first time it is observing an acceleration of this magnitude. There are a couple of reasons for Luno’s surg...

Axeleo Capital raises $51 million fund

Axeleo Capital has raised a $51 million fund (€45 million). Axeleo first started with an accelerator focused on enterprise startups. The firm is now all grown up with an acceleration program and a full-fledged VC fund. The accelerator is now called Axeleo Scale , while the fund is called Axeleo Capital . And it’s important to mention both parts of the business as they work hand in hand. Axeleo picks up around 10 startups per year and help them reach the Series A stage. If they’re doing well over the 12 to 18 months of the program, Axeleo funds those startups using its VC fund. Limited partners behind the company’s first fund include Bpifrance through the French Tech Accélération program, the Auvergne-Rhône-Alpes region, Vinci Energies, Crédit Agricole, BNP Paribas, Caisse d’Épargne Rhône-Alpes as well as various business angels and family offices. The firm is also partnering with Hi Inov, the holding company of the Dentressangle family. Axeleo will take care of the early stage in...

Khosla Ventures seeks $3.5B in fresh capital

Khosla Ventures, a firm known for early investments in OpenAI, is raising $3.5 billion across three funds, the Wall Street Journal reported. That target is 17% larger than the firm’s previous 2023 fund haul of $3 billion. About half of the new capital will be allocated to its ninth core venture fund. The remaining money will […] © 2024 TechCrunch. All rights reserved. For personal use only. from TechCrunch https://ift.tt/vMmjOtu

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JCPenney Files for Chapter 11 Bankruptcy

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