Today In Payments Around The World: Gopuff Purchases UK’s Fancy; Snowball Mulls $300 Million IPO
In today’s top payments news around the world, Gopuff is acquiring on-demand delivery platform Fancy, while Snowball Finance Beijing Internet Information Technology Co. is said to be considering an initial public offering (IPO). Plus, Tide is rolling out a new effort to help small to medium-sized businesses (SMBs) chase invoices.
Gopuff is purchasing Fancy, the on-demand delivery platform, as it furthers its international expansion efforts. The value of the arrangement was not made known. Fancy delivers in a half hour or faster by way of hyper-local, micro-fulfillment centers based out of dark stores in six U.K. cities. “At Gopuff, we have been consistently focused on responsible growth, strategically establishing the physical infrastructure and footprint needed to bring Instant Needs to new geographies and customers,” Gopuff Senior VP of Business Daniel Folkman said in a release.
Snowball Finance Beijing Internet Information Technology Co. is reportedly eyeing a $300 million American IPO. Snowball, which was established in 2010, says its aim is to help users develop their wealth “like a snowball.” In 2020 the firm landed $120 million in an Orchid Asia Group-led series E funding round. In the event Snowball does proceed with its IPO, it would become a part of a long line of Chinese firms listing on U.S. exchanges in 2021.
U.K.-based business banking platform Tide is launching a new method to help SMBs with receiving payments on time via its Tide Invoice Assistant. Alastair Travis, vice president of business services at Tide, said in a published report that the offering “tackles a number of pain points experienced by small businesses — most importantly, automating manual and time-consuming processes and giving reassurance that they will be paid promptly.”