14.2 C
London
Friday, June 18, 2021

Update COVID-19 08 November 2020

08 November 2020 — NIne (9) new COVID-19 cases were identified out of 1741 samples tested today. This brings the cumulative number of confirmed cases to five thousand, two hundred, and twenty-two (5222). To date, four thousand, nine hundred, and sixty (4960) patients have recovered, including seven (7) in the past 24 hours. The number…
More

    Latest Posts

    Tiger Global in talks to back BharatPe at $2.5 billion valuation

    Indian fintech startup BharatPe is in advanced stages of talks to raise about $250 million in a new financing round led by Tiger Global, two sources familiar with the matter told TechCrunch. The new round, a Series E, is giving the three-year-old New Delhi-headquartered firm a pre-money valuation of $2.5 billion, sources said, requesting anonymity…

    UK’s ICO warns over ‘big data’ surveillance threat of live facial recognition in public

    The UK’s chief data protection regulator has warned over reckless and inappropriate use of live facial recognition (LFR) in public places. Publishing an opinion today on the use of this biometric surveillance in public — to set out what is dubbed as the “rules of engagement” — the information commissioner, Elizabeth Denham, also noted that…

    Ford acquires Electriphi as it prepares to woo EV fleet customers

    Ford has two electric vehicles in the pipeline —  the E-Transit cargo van and F-150 Lighting Pro —aimed at commercial customers. Now, the automaker is rounding out its future EV commercial business with the acquisition of battery management and fleet monitoring software startup Electriphi. Terms of the acquisition weren’t disclosed. Ford is betting that the…

    Delivery service Gopuff acquires rideOS for $115 million

    On-demand goods, food and alcohol delivery service Gopuff has acquired fleet management platform rideOS for $115 million, sources familiar with the deal say. This acquisition comes just a few months after the Philadelphia-based startup announced a $1.15 billion funding round at a $8.9 billion valuation, up from $3.9 billion in October. Last fall, the company…

    Fintech startup TreasurySpring raises $10M for platform giving online access to Fixed-term-funds

    Fixed-term funds (FTFs) have historically been a bank-to-bank market. FTF products allow for investing into some of the safest assets including, U.K. government bonds, U.S. government bonds and highly-rated corporations. They allow holders of large amounts of cash (such as charities, private funds, family offices etc.) to reduce and diversify their risk, but also increasing returns.

    TreasurySpring is a fintech startup that is aiming to opening up access to this area of financial markets, by creating a Fixed-Term Fund platform. It’s now raised a $10 million Series A investment round co-led by MMC Ventures and Anthemis Group. Existing investors, including ETFS Capital, participated, taking the total its raised to $15 million.

    TreasurySpring says its FTF platform gives holders of large cash balances online access to a menu of proprietary cash investments on a daily basis. This gives them access to an asset class that is usually only available to major financial institutions.

    Founded in 2016 by Kevin Cook (CEO), Matthew Longhurst and James Skillen, Cook said in a statement: “Following a break-out 12 months in which we increased AUM by 10x, we wanted to bring in the best possible investment partners to support our ambitious growth plans. We have long admired both Anthemis Group and MMC, so I am delighted that they co-led the round and we are excited to work with Sean, Ollie and their respective teams, as we move into the next phase of our journey to redefine cash investment and front-office treasury.”

    Given the current low and negative interest rates and an uncertain global financial outlook, TreasurySpring says its platform is likely to appeal as an alternative to traditional bank deposits and money market funds. It says it’s now issued more than $9B of FTFs to a client base which includes FTSE 100 and other listed companies, fund managers, large private companies, charities, and family offices.

    Yann Ranchere, partner at Anthemis Group said: “With its ambitious and mission-driven team, TreaurySpring is opening the traditional money market industry to a whole new pool of participants.”

    Oliver Richards, partner at MMC Ventures added: “Having worked with the team at TreasurySpring for the last two years, we have absolute confidence in their ability to deliver on their unique vision to level the playing field in cash investing and short-term funding, through a platform that not only brings value to its clients and issuers but also enhances the diversification and systemic stability of the money markets as a whole.”

    Does TreasurySpring have any direct competitors? The company says not. That said, bank deposits and money market funds are still the only tools available to most holders of large cash balances, so the banks and asset managers that offer these products are competitors, “to an extent” admits the firm. However, they are also “collaborators in many instances.”

    Cook said: “Adoption of the platform is being driven by a realisation that the risks and returns of the traditional [deposit and MMF] options are becoming ever less attractive, whilst building out the infrastructure to do anything else is complex, cumbersome, time consuming and expensive.”

    Latest Posts

    Tiger Global in talks to back BharatPe at $2.5 billion valuation

    Indian fintech startup BharatPe is in advanced stages of talks to raise about $250 million in a new financing round led by Tiger Global, two sources familiar with the matter told TechCrunch. The new round, a Series E, is giving the three-year-old New Delhi-headquartered firm a pre-money valuation of $2.5 billion, sources said, requesting anonymity…

    UK’s ICO warns over ‘big data’ surveillance threat of live facial recognition in public

    The UK’s chief data protection regulator has warned over reckless and inappropriate use of live facial recognition (LFR) in public places. Publishing an opinion today on the use of this biometric surveillance in public — to set out what is dubbed as the “rules of engagement” — the information commissioner, Elizabeth Denham, also noted that…

    Ford acquires Electriphi as it prepares to woo EV fleet customers

    Ford has two electric vehicles in the pipeline —  the E-Transit cargo van and F-150 Lighting Pro —aimed at commercial customers. Now, the automaker is rounding out its future EV commercial business with the acquisition of battery management and fleet monitoring software startup Electriphi. Terms of the acquisition weren’t disclosed. Ford is betting that the…

    Delivery service Gopuff acquires rideOS for $115 million

    On-demand goods, food and alcohol delivery service Gopuff has acquired fleet management platform rideOS for $115 million, sources familiar with the deal say. This acquisition comes just a few months after the Philadelphia-based startup announced a $1.15 billion funding round at a $8.9 billion valuation, up from $3.9 billion in October. Last fall, the company…

    Don't Miss

    Reliance introduces JioFiber postpaid with plans starting at Rs 399 per month

    Home News Internet (Image credit: Future) Reliance backed Jio is not only the leading telecom company in the country but is also among the leading ISPs in the country. Its JioFiber service is at par with Airtel’s Xtream Fiber and offers various bundled services apart from uncapped internet usage.Now in addition to the currently available…

    India vs New Zealand WTC final: How to watch live stream

    Home News Televisions (Image credit: BCCI) It is perhaps the most anticipated cricket Test match in this century. The inaugural World Test Cricket final between India and New Zealand, slated from June 18 to June 22 at Hampshire Bowl in Southampton, England, has the eyes of the entire cricketing world peeled towards it as to…

    EOFY 2021 sales: best deals on TVs, laptops, headphones and more

    Home News Appliances (Image credit: Future) The end of financial year sales form one of the biggest shopping events in Australia, and tax-time deals have been filling our screens. In this year’s EOFY sales, we’re seeing solid smartphone discounts, and if you’re after a brand-new laptop for home or work, the elite MacBook Air is…

    Exclusive GameStop Xbox Series X restock details – how to get it, where to find PS5

    Home News Gaming (Image credit: Matt Swider / Future) The GameStop Xbox Series X restock will happen in stores today, June 16, and our Xbox and PS5 restock Twitter tracker Matt Swider has tracked down exclusive information to help increase your chances of getting the Microsoft console in case you want to wait in the…

    PS5 restock update: Sony Direct, Best Buy, and Target dates – and in-stock alerts

    Home News Gaming (Image credit: Future) Update: The Target PS5 restock is sold out within seconds in most parts of the US today, June 16 (Target does online orders, but forces you to select local stores for in-store pickup). However, there will be other places to buy it soon, including Sony Direct tomorrow, June 17,…

    Stay in touch

    To be updated with all the latest news, offers and special announcements.

    × Share your content