Financial

SAP is set to pay an undisclosed amount for a majority stake in the Ping An, Saudi Aramco and Telus-backed digital invoicing technology developer.

CapitalG was among the investors in the digital asset transfer service’s latest round, which boosted its overall funding to $1bn and valued it at $8bn.

Despite being the first year spent entirely during the pandemic, 2021 underlined the strengths of the ecosystem with spinouts raising nearly $39.2bn.

Baidu and Geely committed $400m to Jidu, their joint venture from the hot electric vehicle space. The proceeds from this latest transaction will go to R&D and mass production of cars.

Financial services group Credem is among the investors in the accelerator, which was launched by CDP Venture Capital.

A wave of corporate-backed launches are continuing to take place in the blockchain VC space despite concerns valuations in the sector have spiralled.

JP Morgan Asset Management's (JPMAM) sustainability-focused growth private equity investment business adds co-head.

SoftBank led digital pharmacy Alto's $200m series E round as well as a $130m series B round for rent data software provider Esusu.

Mobile banking app developer One and earned wage access service Even will form a new company with the Walmart subsidiary featuring Qualcomm, Progressive and PayPal as shareholders.

SoftBank Vision Fund 2 helped blockchain technology provider Blockdaemon close a $207m series C round while Qualcomm-backed audio equipment brand BoAt is targeting $246m in its flotation.

FTX Trading's US subsidiary secured the cash at an $8bn valuation, bucking the trend among rival cryptocurrency exchanges less eager to raise funding.