PaymentFacilitator’s News Roundup is a curated mix of the past week’s news and articles from around the web, including company announcements, global payments news, and other coverage and analysis of topics relevant to payment facilitators.
Egyptian PF Paymob has closed a $18.5 million funding round. The raise is the largest Series A in Egypt so far, and one of the largest in North Africa. The company has a presence in Kenya, Pakistan and Palestine, and plans to expand its services into more countries, including an entry into Saudi Arabia this year. From TechCrunch.
Stripe recently led a $115 million funding round for Ramp, a fintech company that provides corporate cards and helps companies manage employee expenses. The company was valued at $1.6 billion in the round. Stripe has previously invested in Ramp, which plans to use the funds to hire more staff and increase its marketing and product development. From Reuters.
Startup fintech Slice has raised $40 million in Series D funding. The company specializes in helping independent pizzerias create an online business. The solution includes a mobile app and web site for accepting orders, as well as a POS system and loyalty program. From TechCrunch.
The shift to online payments during the pandemic caused Stripe’s revenue to rise significantly over the last year. Despite not being a well-recognized brand to many, the company is valued at $95 billion and expanding. Its success demonstrates that it’s “better to be a workhorse than a show pony.” From Wall Street Journal (subscription required)
Indian PF Pine Labs has acquired loyalty and cashback platform Fave, which operates in Malaysia, Singapore and Indonesia. Pine Labs plans to launch the Fave app on its platform in India, and together the companies expect to hire 100 new employees within Southeast Asia and India. Pine Labs had previously invested in Fave. From Bloomberg.