The deal is set to create one of the largest payment processing companies in the world, handling $147bn annually.

Prosus, Prudential Financial and Visa could exit remittance services provider Remitly when it floats later this year.

The investment firm has taken a majority stake in the sales communication platform developer, which had raised over $100m from investors including HubSpot.

Ally had raised $10m in seed funding from investors including UCB but disappointing animal studies led the company to be wound down.

The Harvard spinout had raised $10m in seed funding from investors including Arch Venture Partners, but disappointing animal studies led the company to be wound down.

WordPress and Tumblr-owner Automattic has acquired Frontity, a portfolio company and creator of a WordPress site development tool.

Amazon, Ford, Sumitomo, Cox Enterprises and Abdul Latif Jameel are set to score exits after the electric truck developer filed confidentially to go public.

Alibaba, Qualcomm, SoftBank, Suning and Dalian Wanda are among the investors that could exit the AI-equipped machine vision technology developer, most recently valued at $12bn.

The restaurant management software provider had received funding from Alphabet’s GV unit prior to the announcement of its IPO plans last week.

CapitalG-backed enterprise software producer Freshworks plans to float on the Nasdaq Global Select Market after reporting a boost in revenue this year.