Net1 has made a strategic investment in mobile payment firm MobiKwik, pushing the digital wallet provider's total funding to approximately $120m.

Paytm owner One97 Communications is set to raise the funding at a $5bn valuation with contributions from MediaTek, Alibaba, Ant Financial and possibly Fosun.

E-commerce firm One97 Communications is separating from its Paytm subsidiary, which is set to raise funding from investors including existing backer Alibaba.

The insurance provider has joined forces with accelerator Plug and Play to create a scheme aimed at insurance technology as part of its Digital First strategy.

GMO reinvested in the online payment platform, also backed by Rakuten and CyberAgent in the past, as part of a series A-2 round that lifted its total funding to $5.2m.

The GV-backed round was closed at a reported $500m valuation, and brings the online lender's total debt and equity financing to just short of $260m.

Rakuten, which had previously taken part in a $14.5m series A round for payment platform Bitnet, has acquired the company for an undisclosed sum.