Financial

A total of 11 early-stage venture capital funds run by members of the black and Latinx community have secured part of $50m of commitments from PayPal.

The payment software provide's shared popped on their first day after an IPO that followed two Goldman Sachs-backed funding rounds.

AMTD Group is looking to spin off its digital financial services arm, which counts Maoyan Entertainment as an investor, through an initial public offering in the United States.

Affirm spinoff Resolve raised $60m from investors including its parent company, while sales and marketing software provider Qualified secured $51m in a Salesforce-backed round.

PreSeed Ventures-backed Pento has secured $15.6m in a series A round led by General Catalyst, bringing its total financing to $19.1m.

Tiger Global Management led a round that boosted the DocuSign-backed digital mortgage platform developer's valuation to $1.5bn.

Uniqa is set to exit the mobile payment and lending app operator in an acquisition by Zip, which has agreed to pay $68.8m for the remaining shares after it had co-led the latter’s January 2021 round.

IDEO-backed cryptocurrency developer Chia Network has pushed its valuation to $500m thanks to a $61m round co-led by Andreessen Horowitz and Richmond Global Ventures.

SoftBank Vision Fund 2 supplied $250m for the banking technology producer at a $1.45bn valuation while Sodexo also invested.

Exor-backed card issuing technology provider Lithic raised $43m while Mitsui Sumitomo Insurance is providing $36m to lead Upstream Security's series C round.

Undisclosed investors have supplied series D funding for the Sunshine Insurance and Xiaomi-backed bookkeeping and taxation software developer.