You can’t afford to make poor decisions about incentive stock options

When the time is right, employees should actively look for help from a qualified fiduciary financial adviser who can walk these could-be “options millionaires” through various cash-in scenarios.

Element Ventures pulls in $130M to double-down on the FinTech enterprise trend

With the rise of Open Banking, Psd2 Regulation, InsurTech, and the whole, general Fintech boom, tech investors have realized that there is an increasing place for dedicated funds which double down on this ongoing movement. When you look at the rise of banking-as-a-service offerings, payments platforms, insurtech, asset management, and infrastructure providers, you realize that […]

Square will pay $29 billion to acquire leading ‘buy now, pay later’ company Afterpay

Square has announced that it plans to pay $29 billion in stock for Afterpay, an Australian service that lets you pay for purchases over time with no interest, The Verge has reported. Square, led by Twitter co-founder Jack Dorsey, has already purchased a majority stake in Tidal and launched a new Bitcoin business in 2021. 

In a press release, Square called Afterpay “the pioneering global ‘buy now, pay later’ (BNPL) platform.” Afterpay notes that it has over 16 million customers worldwide and services nearly 100,000 resellers across retail markets like “fashion, homewares, beauty, sporting goods and more.” 

“The addition of Afterpay to Cash App will strengthen our growing networks of consumers around the world, while supporting consumers with flexible, responsible payment options,” said Square’s Brian Grassadonia. “Afterpay will help deepen and reinforce the connections between our Cash App and Seller ecosystems, and accelerate our ability to offer a rich suite of commerce capabilities to Cash App customers.”

Afterpay, like other increasingly popular BNPL services (including Affirm, Klarna and Uplift), allows customers to pay over time without interest. To make money, they charge retailers a fee (4 to 6 percent), promising to connect them with a desirable demographic and assume all financial risk. In Square’s press release, Afterpay also said it can help “drive repeat purchases [and] increase average transaction sizes.” 

One of the world’s largest retailers, Apple, is reportedly planning to offer its own buy now, pay later type program directly to consumers. Much like PayPal’s “Pay in 4” service, “Apple Pay in 4” would allow Apple Wallet users to stretch purchases out to four payments, interest-free. Square’s purchase of Afterpay, meanwhile, is expected to close in the first quarter of 2022. 

Kuda, the African challenger bank, raises $55M at a $500M valuation

Kuda Bank, the London-based, Nigerian-operating startup that is taking on incumbents in the country with a mobile-first, personalised and often cheaper set of banking services built on newer, API-based infrastructure, has been on a growth tear in the last several months, and to fuel its expansion, it has now raised another round of funding. TechCrunch […]