Financial

MicroMax co-led the digital payment technology provider's series C round, which will go to hiring, product development and the introduction of microcredit.

Alibaba's financial services affiliate has raised funding from backers including China Post and China Life as the country's tech companies continue to close 10-figure rounds.

Americas Tax Innovation Foundry will develop technology in-house as well as hooking up with external startups.

The Japan-based e-commerce group's investment in ride hailing platform Cabify illustrates how e-commerce businesses cannot afford to be pure play anymore.

Automated micro-investment service Acorns has raised $30m from backers including Rakuten and PayPal to take its overall funding to $62m.

The financial services firm has opened an innovation lab in Silicon Valley in partnership with IBM, following similar initiatives in London and Berlin last year.

Electronic billing software producer Transactis increased its total funding to $70m, securing $30m from five banks, each of which contributed $6m.

Allianz spinout Idinvest contributed to a series B round that will help the UK-based background checking service expand in the US.

Alibaba's ten-figure investments in Ele.me and Lazada last week could signify the ramping up of an investment strategy that has already dramatically grown the e-commerce group's offering.