EMEA Daily: Instabox raises $190 million for delivery
In today’s major Europe, Middle East and Africa (EMEA) news, Swedish delivery company Instabox has raised $190 million in growth capital, while money automation startup Flow Your Money has provided 3.5 million euros (about $3.8 million) to further help freelancers manage their money. .
Swedish delivery company Instabox raises $190 million
Delivery service Instabox raised $190 million in a growth round that valued the Swedish company at more than $1 billion. Instabox plans to use the funding to expand across Europe, upgrade its tech stack and invest in sustainability.
Money Automation Startup Flow Your Money Makes 3.5 Million
Flow Your Money’s new funding round will help the money automation company expand its capabilities to help freelancers manage their money and automate their budgets. The startup also helps users divide their funds into pre-determined spending and savings silos.
Payment system built in Russia capitalizes on the exit of Visa and Mastercard
With Visa and Mastercard leaving Russia in response to the Russian invasion of Ukraine, Russian and Chinese payment systems have stepped in to fill the void. The Russian-based national card payment system and China-based UnionPay have seen an increase in usage.
UK Ryde introduces shift-based pay for delivery drivers
Ryde, a network of delivery drivers, has launched Houly+, an optional shift-based payment model for drivers, after several weeks of testing to “increase on-demand delivery fulfillment rates, particularly for grocery and retail customers.