Financial

Uber will acquire a 27.5% stake in Grab as part of a deal where the latter will get its local operations, as a small number of players tighten control of the sector worldwide.

The personal finance management app developer has filed for an initial public offering in Hong Kong, with InTime, JD.com and SIG in line for exits.

Ultimately, those unwilling or unable to compete at the top end of creating market-leading companies risk effectively bringing a knife to a gun fight - they can win sometimes in some areas, but the chances might be against them.

Fifth Third Bancorp led the Nelnet-backed student loans service provider's series D round, taking its total funding to more than $130m.

The Ping An, Sberbank and Commerzbank-backed social trading platform has attracted $100m in funding at an $800m valuation from investors including SBI.

Fidelity subsidiary Eight Roads Ventures has attracted $375m for a Europe and Israel-focused fund that will target enterprise, consumer, fintech and healthcare IT.

The mobile banking platform has closed a round co-led by Tencent and Allianz X, boosting its total funding to $215m as it prepares to enter the UK and US.

Fosun has led financial data technology startup Taodata's latest round, in which it raised $15.8m, as part of a big data and AI investment strategy.

Innovative region: Canada