The largest unicorn in Europe

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Nothing says this place will pop more than millions of dollars in one round for one .

While Europe used to be seen as a bleak place to found startups, that has changed in recent years. Venture capital firms have since settled in the region. Putting billions of dollars into the continent: In September, the Swedish fintech Klarna has $ 650 million with a valuation of $ 10.6 billion. The venture capital firm Sequoia launched one in November push towards Europeand launch of virtual events in London Hopin raised at a valuation of $ 2.1 billion in the same month.

Add to this list? London-based payment and fraud prevention company On Tuesday, the startup announced that it had raised approximately $ 450 million in Series C funding led by Tiger Global Management. Greenoaks Capital, DST Global, Coatue Management, Blossom Capital, Endeavor Catalyst and Singapore’s Sovereign Wealth Fund GIC also invested.

The round of funding raises the valuation to $ 15 billion, making it the most valuable unicorn in Europe over both Klarna and Global Switch in the UK, based on CBInsights data.

The increase highlights a hot topic: payments. Retailers and businesses forced online have caused an explosion contactless payments around the world. The same trend has also underscored the need for all related safeguards including fraud prevention.

Affirm, a bustling buy-now-pay-later startup in the US, is slated to start trading on Wednesday. The company has announced that it will raise up to $ 1.8 billion, with the price of shares ranging from $ 41 to $ 44 each, up from $ 33 to $ 38 previously. In that area, Affirm would be valued at over $ 10 billion, surpassing the last private market valuation of $ 5.5 billion.

THE LARGEST US EMPLOYER LOOKS FOR A FINTECH: Late Monday Walmart announced the launch of a fintech startup with Ribbit Capital, a venture capital company well known in the fintech space. But the duo were pretty vague in the details. According to a Press releaseThe startup is said to “develop and offer modern, innovative, and affordable financial solutions,” and CNBC says it aims to do so Customers and employees– which is fabulous. Fantastic. And the same model for many fintech companies.

That said, the union will be one to watch. Walmart is enormous largest employer in the US and was the largest Companies by sales in 2020 (even beat Amazon). Ribbit may be rather quiet for the press, but a name that can be heard loud and clear when betting in Robinhood, Affirm and Coinbase.

That partnership comes to Walmart too tried to start an offer with Microsoft for a piece of TikTok in the summer in one step that could have strengthened its e-commerce chops among young buyers. TikTok eventually settled on a deal with Oracle to avoid a ban from President Donald Trump.

Lucinda Shen
Twitter: @ Shenlucinda

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