Financial

The Progressive-backed neobank has secured the fresh funding at a reported $2.5bn valuation, seven months after it closed a $63m round.

Allianz has recommitted to the venture capital firm having funded its $170m debut vehicle two years ago.

First Data will exit MineralTree after Global Payments agreed to purchase the payment automation technology producer.

Stratasys spinoff Evolve Additive Solutions secured $30m from 3D Ventures while CollegeDekho - spun off by GirnarSoft - raised $26.5m.

The online lender, which is backed by Telefónica’s Wayra unit, has completed a $75m close, tripling its valuation to the nine-digit dollar range.

The Autodesk-backed cost management platform developer increased its valuation to $280m in its most recent round.

Home rental finance service Jetty bagged $23m from investors including Citi, Farmers Insurance and CreditEase, while ByteDance co-led IoT technology developer RiVai's latest round.

PayPal was one of several corporates to invest in Paidy before agreeing this week to purchase the consumer finance service provider.

Stripe helped cross-border payment processor Wave secure unicorn status in a series A round led by Sequoia Heritage at a $1.7bn valuation.

Scor joined returning investors Investec and Passion Capital to back the expat-focused auto insurance platform’s series B round, valuing it at $1.25bn.

Channel Talk, Segari and Borneo are all among the companies that have raised corporate venture capital, while Tepco celebrated an exit with the acquisition of Me:New.