In today’s top payments news around the world, Indonesian logistic startup Logisly raised $6 million in Series A funding, while Russian eCommerce platform Ozon has filed for an initial public offering in the U.S. Plus, Swedish private insurer Folksam Group says a data breach affected 1 million of its clients.
Jakarta, Indonesia-based logistics upstart Logisly landed $6 million in a Monk’s Hill Ventures-led Series A funding round. The business-to-business (B2B) logistics company harnesses an algorithm to link shippers with trucking firms. It works with 40,000 trucks and caters to more than 300 business shippers from a cross-section of industries such as online shopping, construction and chemicals.
Ozon, the online shopping marketplace considered to be Russia’s answer to Amazon, has filed for an initial public offering (IPO) in the United States. The firm is aiming to list its American Depositary Shares (ADSs) on the Nasdaq Global Select Market and said it intends to harness the proceeds from the deal to grow its business. Citigroup, Goldman Sachs and Morgan Stanley are some of the underwriters of the arrangement as per an F-1 filing.
Folksam Group, one of the biggest private insurers in Sweden, says a data breach impacted 1 million of its customers. Folksam reportedly indicated that it inadvertently let Big Tech firms access private information of clients. There’s isn’t an indication that “the information has been used by third parties in any improper manner,” noted Folksam, which has asked the firms to take the data off of their systems.
Jack Ma has reportedly seen his net worth fall by $3 billion after the Ant Group double initial public offering (IPO) was halted on Tuesday (Nov. 3) by the Chinese government. The public offering garnered $3 trillion in bids and was going to be considered the largest in history. Ant Group was aiming to land approximately $35 billon in proceeds from the deal.