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Jan. 3, 2019
Lightspeed China Partners, one of the leading early stage venture capital firms for China's tech industry, has closed on $560 million in committed funds, and is focused on future investments related to the payments industry, according to a press release.
Lightspeed China Partners said the funds include Lightspeed China Ventures IV at $360 million, which will focus on early stage companies, and Lightspeed China Partners Select I at $200 million, which is focused on growth investments, according to the release.
"We believe there are plenty of new opportunities in China consumer internet given the depth of China's mobile payment and social networks," said founding partner Herry Han, in the release. "Innovation and entrepreneurship in the next decade will bring more China-based startups to the world stage."
Lightspeed was an early stage investor in several tech firms that have launched successful IPOs, including Meituan Dianping, a group buying platform for local food delivery; Pinduoduo, an e-commerce platform for group buying and PPDai, an online consumer finance marketplace.
Topics: Financial News, Mobile Payments, Region: APAC
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Jan. 3, 2019
DirectTips, the parent company of mobile salon tipping app Tippy, has raised $1.65 million in Series B funding led by Beauty Alliance Founder Doug Von Allmen and the Lehigh Valley Angel Investors Group..
Additional investors included former L’Oreal executive Pat Parenty and private investor Michael Caron, according to a press release.
The Series B round brings total funding raised to $3.15 million. The company said the funds will be used to support a nationwide rollout after it completed recent partner acquisitions and a beta test.
After launching in early December, the Fort Lauderdale, Florida-based firm currently works with 60 salons. CEO David Tashjian said the company has spent the past 12 months with a "POS-agnostic product that allows for nationwide scalability," according to the release.
Topics: Financial News, Mobile Apps, POS
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Jan. 2, 2019
Juniper Research estimates retailers will lose $130 billion in "card not present" fraud in the next five years, according to a report issued by the firm.
The report, completed late last year, predicts retailers will lose the $130 billion from 2018 through 2023, noting retailers are lagging in their ability to detect potential fraud before it actually happens. The report stated online merchants seem to be focused mainly at detecting fraud at the point of sale, and don't have enough insight prior to that.
"A layered FDP [fraud detection & prevention] solution naturally helps directly preventing fraud, but it also offers major gains in terms of recovering potentially lost revenue through false positives," said research author Steffen Sorrell, in an release on the report. "This is something about which retailers remain under educated, and has allowed fraudsters to capitalize on relatively low FDP spend."
Juniper predicts digital payment firms will pay $9.6 billion a year on FDP players in 2023, however the main growth over the forecast period will come from financial institutions and payment service providers, according to the release.
Companies: Juniper Research
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Copyright © 2019 Networld Media Group, LLC. All rights reserved.Visit Other Networld Media Group Sites:Select a siteATM MarketplaceBlockchain Tech NewsDigital Signage TodayFastCasualFood Truck OperatorKiosk MarketplaceMobile Payments TodayPizza MarketplaceQSRwebRetail Customer ExperienceWorld of MoneyBank Customer Experience (BCX) SummitCONNECT Mobile Innovation SummitFast Casual Executive SummitInteractive Customer Experience (ICX) SummitRestaurant Franchising & Innovation SummitMore Articles …
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