Today In Payments Around The World: Food Delivery Platform Zomato Eyes IPO; Robo Adviser BangNiTou Reaches 1 Million Users
In today’s top payments news around the world, Zomato is reportedly mulling a $650 million initial public offering (IPO), while Ant Group-backed BangNiTou has reached 1 million users. Plus, Volocopter is looking to bring in new funding as it considers the possibility of going public through a blank-check company.
India’s Zomato Eyes April $650 Million Public Filing
Food delivery company Zomato is reportedly eyeing a $650 million IPO. Ant Group-backed Zomato, which rolled out in 2008, reportedly expects to file a draft prospectus sometime next month with an anticipated listing in India by Sept. 30. Zomato has a team topping 5,000 and is one of the biggest food aggregators in the world.
Ant-Backed Chinese Robo Adviser BangNiTou Tops Million Users
Fund investment service BangNiTou, which is backed by Ant Group and Vanguard, has attained a user base of 1 million. The firm reportedly has a minimum investment of 800 yuan, or approximately $122. The firm operates by suggesting a collection of investments chosen from 6,000 mutual funds once evaluating a user’s comfort with risk and investment aims.
German Flying Taxi Startup Volocopter Mulls SPAC, New Funds
Volocopter, the German flying taxi company, is aiming to bring in new funding as it mulls the idea of possibly going public through a special purpose acquisition company (SPAC). The company has many competitors in the air taxi space such as California company Joby Aviation. Another rival in the space is Lilium, another German upstart, which has a fixed-wing design.
Hold Please: Online Gambling Firm 888 CEO Weighs IPO
London-based digital gambling firm 888 Holdings is looking at methods to tap U.S. investors, with the inclusion of the potentiality of becoming a public company. Moreover, 888 has been looking for market and brand deals that could shore up its U.S. presence. CEO Itai Pazner has also indicated that the firm is thinking about teaming with European operators in addition to takeover opportunities that come to the surface.