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California Lets Aurora Operate Driverless Cars

PYMNTS

Self-driving vehicle company Aurora has been approved by California regulators to allow passengers rides in its fleet of driverless vehicles, according to reports. The California Public Utilities Commission ( CPUC ) granted the company an official authorization, showcased on the official Aurora website.

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Initialized Capital Management’s Fifth Fund Notches $230M

PYMNTS

Initialized Capital Management has notched $230 million for Initialized V , the California venture firm’s fifth fund, which is geared toward backing early-stage companies, Bloomberg reported. Initialized Capital Management Co-Founder Garry Tan told Bloomberg, “We love finding tomorrow’s unicorns.”.

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California Expects IPO Tax Windfall

PYMNTS

California is gearing up to get a tax windfall from all the initial public offerings of California companies slated for this year. According to a report in The Wall Street Journal , close to 10 percent of the tax revenue for the state in the coming fiscal year will come from capital gains. It will amount to $13.8

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Digital Car Insurer Metromile To Go Public Through Merger With INSU II

PYMNTS

The combined company, to be led by Metromile CEO Dan Preston , will have a pro forma market capitalization of approximately $1.3 Investors Social Capital, Hudson Structured Capital Management, Miller Value, Clearbridge and Mark Cuban have committed to investing $160 million through a private placement of INSU II Class A common shares.

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Uber Readies Q3 Earnings As California Voters Give The Firm A Big Boost

PYMNTS

5) just as the company’s stock is soaring on the election victory of Proposition 22, a California referendum to exempt ridesharing companies from the state’s AB 5 gig worker law. Shares of Uber and other gig economy companies were rallying a day after California voters backed Prop 22. London Reprieve.

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Money Transfer App WorldRemit Raises $40 Million in Third Round of Funding

Bank Innovation

EXCLUSIVE- Emerging markets-focused money transfer app WorldRemit has raised another round of funding, bringing the total amount to $220 million. The new Series C funding of $40 million was led by LeapFrog Investments, a PE firm that focuses on Asian and African markets.

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Social Calendar App IRL Lands $16M In Series B Funding Round

PYMNTS

help students create lasting memories and friendships through shared experiences, and look toward international markets.” . “This new funding will allow us to. The college calendars are monitored and updated by what IRL calls “student ambassadors,” to assist students with tracking activities and organizing events. "IRL