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Gojek Curbs Losses As Indonesia’s Largest Startup Ramps Up Grocery Delivery

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Star Indonesian startup Gojek is moving closer to eventual profitability after staunching a tide of ink amid losses on core services like delivery and ride-hailing, according to a new report. For us, sustainability is the mantra.”.

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Poshmark Files For IPO After Posting Record Profits

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Secondhand eCommerce platform Poshmark filed for an initial public offering (IPO) after posting more than $30 million in profit across two consecutive quarters. “We We only recently became profitable and have experienced net losses. The Silicon Valley startup posted a net loss of $14.5 million last year.

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FinTech Revolut’s Losses Triple As Customer Base Grows

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With its losses mounting, the London-based digital bank may need to tap into its corporate reserves to keep up with its expansion plans. The company posted a total loss of $139.6 Revolut attributed the losses to its expansion into new markets and the introduction of new products. million (£106.5 million) in 2019 — up from £32.9

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Swedish Startup Lendify Closes $115M Funding Deal

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Swedish peer-to-peer (P2P) lending startup Lendify has secured $115 million in funding from Insight Investment, according to a Bloomberg report on Wednesday (Oct. Co-Founder and Chief Executive Officer Nicholas Sunden-Cullberg said the funding will also help the 2014 startup take control of the consumer loan market. .

Startups 103
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Lyft’s Losses Ahead Of IPO To Test Markets’ Tolerance With Startups

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Lyft , the ride-hailing startup that’s going public via an initial public offering later this week, is shaping up to have lodged the most losses in the run-up to an IPO. The Lyft IPO will be a big test for investors’ appetite for startups that aren’t making money since the dot com boom and subsequent crash. that went public.

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FinTech Unicorn Klarna Posts First Loss

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Klarna, a Swedish FinTech that allows customers to pay for items through installments, has posted its first annual loss after years of being profitable, according to a report by CNBC. . The company reported a loss of $113 million ( 1.1 This is the first time the company has had a loss since it was founded 15 years ago.

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Ant Financial Posts Rare Quarterly Loss

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Ant Financial , the Chinese FinTech giant and an affiliate of Alibaba Group , posted an earnings pre-tax loss of 2.4 The Wall Street Journal ( WSJ ), citing Ant, reported that the company had a pre-tax profit of 5.3 Alibaba blamed the loss on increased investments to capture growth. billion yuan for the same quarter a year ago.