Financial

The PayU and Rakuten-backed digital lending platform has filed for bankruptcy after regulatory changes in two markets meant customers halted loan repayments.

Crédit Mutuel Arkéa has returned in a $10.3m round for the financial advice software provider that will be used to add a retirement savings plan to its repertoire.

The Sumitomo and Aflac-backed digital insurance and savings product provider has merged with Aviva Singapore to form a business valued above $2.3bn.

American Express Ventures returned to reinvest in the financial intelligence provider as part of a series B round announced in tandem with a company rebrand.

BBVA-backed Propel Venture Partners has returned for a round that will help Groww add more asset classes to its online investment service.

Investment manager XP has allocated up to $1.5bn in capital for a strategic investment fund dubbed XP Ventures.

SoftBank emerged in the news last week with its sizeable bets in the equity derivative markets in the US. Despite some recent challenges, the telecoms conglomerate has been very active in large venturing deals this year as well.

Each Friday the Global Corporate Venturing Deal Net rounds up the week’s smaller deals and tracks the emerging companies accessing corporate funds.

Santander Innoventures has been spun off by its parent company into an autonomously managed fund called Mouro Capital with its capital allocation doubled.

Commerce and payment services provider Interswitch has hired Tony Idugboe to head up its merger and acquisitions.

Greenlight Re-backed business health insurance provider Sana secured $20.8m to take its funding to more than $27m altogether.