Week In Review - Startup World #39 - 17.01.2021

MarkeTech Group
January 17, 2021

Israeli startup raises $400M at the valuation of $2.5B

Rapyd, an Israeli fintech startup, has completed a $400M raising round, at the valuation of $2.5B. The first $300M raise was completed during the series D round, and the rest $100M were raised afterward and will be mainly used to buy the shares of early-days Angels, executives and others. The company was founded in 2015 and suggests payment services enable electronic funds transformant through diverse payment means. 

Took a bite from the apple: Former apple employees’ startup is about to be acquired for a phenomenal amount

Nuvia was founded in early 2019 by Gerard Williams III, CEO and President, and by John Bruno and Manu Gulati, SVPs of engineering. The three have worked for Apple for years as CPU designers, and two out of the three have even worked together in Google. Two years only after its establishment, Nuvia (as announced) will be acquired by Qualcomm for $1.4B. 

Walmart is about to establish a news fintech startup

The giant retail company Walmart is about to establish a new fintech startup, as part of its collaboration with Ribbit Ventures. The initiative will combine Walmart’s knowledge in the fields of retail and scale, and Ribbit Ventures’ knowledge in providing customers with tech-financial experiences. “We’re thrilled to work with Ribbit Capital in a new venture to help us deliver innovative and needed options to our customers and associates - with speed and at scale”, said John Furner, President & CEO, Walmart US.

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