Bebe Store, a Brazilian online retailer for mothers, has raised USD10.2m in a Series B round led by W7 Capital and Atomico. Founded in December 2009, the company claims to have quadrupled its revenue since receiving its first investment from Atomico in December 2011 and to now offer more than 45,000 items (reports StrategyEye).
The Brazilian e-commerce market is predicted to increase 18% year-on-year and hit USD22bn by 2016. However, as the country’s population becomes increasingly connected the e-commerce scene is becoming more and more crowded and Bebestore features tough competition from the likes of Accel and Tiger Global-funded Baby.com.br. At present, the two sites are fighting it out across social media platforms as each attempt to capture young connected parents.
As the demand for immediate payments implementation grows in the United States, Iliad Solutions have identified one of the largest risks to face the payments industry over the next few years.
Barclays has signed contracts with six of the fintech startups that just graduated from its second New York accelerator programme.
Company card killer Pleo has raised $3m in new funding as it prepares for public launch in the UK and Denmark.
Cheques are become less and less common in the UK according to new research from global market research firm Mintel which claims contactless card use has overtaken cheque payments in the UK for the first time.