In today’s top Europe, the Middle East and Africa (EMEA) news, the European Union could fine Apple $2.7 billion over its near-field communications (NFC) chip technology, and Google pledges $1 billion to boost internet and startups in Africa. Plus, Berlin-based firm Swarm Markets targets the masses of decentralized finance (DeFi) skeptics, Amazon opens its first 4-star store outside the U.S., and Stockholm FinTech Anyfin raises $52 million for German expansion.
EU Could Fine Apple $2.7B Over NFC Chip
Apple could be hit with charges as early as next year, as well as a steep antitrust fine from the EU over its NFC chip technology. The European Commission can fine companies up to 10% of their global profits for skirting EU rules. In Apple’s case, that will amount to a $2.7 billion fine based on its 2020 revenue of $27.4 billion.
Google Pledges $1B to Boost Internet, Startups in Africa
Google will inject $1 billion in Africa in the next five years to enhance internet connectivity and help startup companies with funding. The search platform announced an Africa Investment Fund that will give startups access to its employees and technology during the Google for Africa event. Google is also teaming up with nonprofit Kiva to offer $10 million in low-interest loans for small businesses in Ghana, Kenya, Nigeria and South Africa.
Berlin-Based Firm Swarm Markets Targets the Masses of DeFi Skeptics
Traditional banking and DeFi are often at loggerheads with many who doubt the ability of decentralized, permissionless platforms to provide the same level of consumer protection as is available on regulated platforms. But Swarm Markets co-founders Philipp Pieper and Timo Lehes told PYMNTS that regulation and decentralized finance don’t have to be mutually exclusive, and they’re on a mission to prove the naysayers wrong.
Doors Open at First Amazon UK 4-Star Store Outside US
The first Amazon U.K. 4-star store has opened outside of the U.S., offering a wide variety of products excluding food items. The 3,500-square-foot brick-and-mortar store is on High Street at the Bluewater shopping center in Kent and offers merchandise based on data gleaned from online sales. All products have a minimum 4-star rating, hence the name of the shop.
Stockholm FinTech Anyfin Raises $52M for German Expansion
Swedish FinTech startup Anyfin has raised close to 45 million euros (about $52 million) in a Series B funding round to expand its business across Germany and Northern Europe. Anyfin gives consumers the ability to refinance existing loans while also managing their financial health. The round was led by FinTech Collective, with participation from Accel, EQT Ventures, Northzone and Global Founders Capital (GFC). New backers included Quadrille Capital and Augmentum FinTech.
Crypto Bill Moves Back to Ukraine Parliament
Ukraine’s President Volodymyr Zelensky has returned a cryptocurrency bill to Parliament for revision. Approved by the Ukraine Parliament in September, the bill initially requested the establishment of a new regulatory body to oversee cryptocurrency, but Zelensky has instead recommended that the National Securities and Stock Market Commission — Ukraine’s version of the U.S. Securities and Exchange Commission — handle the oversight.
Basware, Comdata Team to Advance Automated B2B Payments
Finnish eInvoicing solutions provider Basware is expanding its partnership with the payments firm Comdata to create what they call “a powerful procure-to-pay ecosystem.” The combination of technical and product integration with sales and customer success teams will help clients further automate accounts payable (AP) processes.
TransUnion Backs UK FinTech Monevo
Global insights and credit reporting firm TransUnion has invested an undisclosed amount in the personal credit platform Monevo to advance solutions that will help lenders and aggregators work together more efficiently. A subsidiary of Quint Group, U.K.-headquartered FinTech Monevo is part of several different businesses that serve the consumer finance space. As part of the investment deal, TransUnion will join Monevo’s board.
In immediately’s prime Europe, the Center East and Africa (EMEA) information, the European Union may fantastic Apple $2.7 billion over its near-field communications (NFC) chip know-how, and Google pledges $1 billion to spice up web and startups in Africa. Plus, Berlin-based agency Swarm Markets targets the lots of decentralized finance (DeFi) skeptics, Amazon opens its first 4-star retailer outdoors the U.S., and Stockholm FinTech Anyfin raises $52 million for German growth.
EU May Tremendous Apple $2.7B Over NFC Chip
Apple might be hit with expenses as early as subsequent 12 months, in addition to a steep antitrust fantastic from the EU over its NFC chip know-how. The European Fee can fantastic firms as much as 10% of their world income for skirting EU guidelines. In Apple’s case, that can quantity to a $2.7 billion fantastic primarily based on its 2020 income of $27.4 billion.
Google Pledges $1B to Enhance Web, Startups in Africa
Google will inject $1 billion in Africa within the subsequent 5 years to reinforce web connectivity and assist startup firms with funding. The search platform introduced an Africa Funding Fund that can give startups entry to its staff and know-how throughout the Google for Africa occasion. Google can be teaming up with nonprofit Kiva to supply $10 million in low-interest loans for small companies in Ghana, Kenya, Nigeria and South Africa.
Berlin-Based mostly Agency Swarm Markets Targets the Plenty of DeFi Skeptics
Conventional banking and DeFi are sometimes at loggerheads with many who doubt the flexibility of decentralized, permissionless platforms to supply the identical stage of client safety as is obtainable on regulated platforms. However Swarm Markets co-founders Philipp Pieper and Timo Lehes informed PYMNTS that regulation and decentralized finance don’t need to be mutually unique, they usually’re on a mission to show the naysayers fallacious.
Doorways Open at First Amazon UK 4-Star Retailer Exterior US
The primary Amazon U.Okay. 4-star retailer has opened outdoors of the U.S., providing all kinds of merchandise excluding meals gadgets. The three,500-square-foot brick-and-mortar retailer is on Excessive Road on the Bluewater buying middle in Kent and provides merchandise primarily based on information gleaned from on-line gross sales. All merchandise have a minimal 4-star score, therefore the title of the store.
Stockholm FinTech Anyfin Raises $52M for German Growth
Swedish FinTech startup Anyfin has raised near 45 million euros (about $52 million) in a Collection B funding spherical to increase its enterprise throughout Germany and Northern Europe. Anyfin offers customers the flexibility to refinance present loans whereas additionally managing their monetary well being. The spherical was led by FinTech Collective, with participation from Accel, EQT Ventures, Northzone and International Founders Capital (GFC). New backers included Quadrille Capital and Augmentum FinTech.
Crypto Invoice Strikes Again to Ukraine Parliament
Ukraine’s President Volodymyr Zelensky has returned a cryptocurrency invoice to Parliament for revision. Permitted by the Ukraine Parliament in September, the invoice initially requested the institution of a brand new regulatory physique to supervise cryptocurrency, however Zelensky has as an alternative beneficial that the Nationwide Securities and Inventory Market Fee — Ukraine’s model of the U.S. Securities and Trade Fee — deal with the oversight.
Basware, Comdata Crew to Advance Automated B2B Funds
Finnish eInvoicing options supplier Basware is increasing its partnership with the funds agency Comdata to create what they name “a strong procure-to-pay ecosystem.” The mix of technical and product integration with gross sales and buyer success groups will assist shoppers additional automate accounts payable (AP) processes.
TransUnion Backs UK FinTech Monevo
International insights and credit score reporting agency TransUnion has invested an undisclosed quantity within the private credit score platform Monevo to advance options that can assist lenders and aggregators work collectively extra effectively. A subsidiary of Quint Group, U.Okay.-headquartered FinTech Monevo is a part of a number of completely different companies that serve the patron finance area. As a part of the funding deal, TransUnion will be a part of Monevo’s board.