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Passport, the technology business for city transit systems, raises $43 million

PYMNTS

Passport, company that’s managing much of the technical aspects of how people pay to use public transportation resources in cities like London, Miami and Los Angeles, has just raised $43 million. Read More.

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VC Firm Greycroft Raises $680M In Search Of Next Venmo, Subscription Startups

PYMNTS

Venture capital firm Greycroft , based in New York and Los Angeles, has raised $680 million to fund new startups, according to Bloomberg , looking for "the next Bumble or Venmo.". The firm plans to invest $310 million in early-stage startups and $370 million in growth-stage startups, the report stated.

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What 2019 Holds for Bank-Fintech Partnerships

Bank Innovation

Ben Savage, partner at the Los Angeles-based Clocktower Technology Ventures, told Bank Innovation that the flourishing fintech ecosystem holds both risks and opportunities for banks, […]. There are startups that want to destroy banks and startups that want banks to buy their software.

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Mastercard Commits $500M To Boost Black Communities, Businesses

PYMNTS

The new initiative will include “concentrated investments that will focus on providing Black-owned businesses and Black people access to affordable financial tools and capital,” Mastercard said in a news release. Mastercard said it will invest $500 million in Black communities across the U.S. This is a time for action.

Community 282
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Monzo Courts SoftBank As Part Of £100M Capital Raise

PYMNTS

offering limited services in Los Angeles. The conglomerate’s first Vision Fund invested $100 billion in startups like Uber and WeWork. Monzo launched in 2015, and now serves an estimated 3.7 million U.K. It recently started trialing its banking app in the U.S., The startup spent its initial funds quickly as it pursued expansion.

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Walmart Launches 'Modern Fashion Brand'

PYMNTS

Walmart sold Shoes.com to CriticalPoint Capital, a Los Angeles merger and acquisition advisory and investment bank. Before adding Free Assembly to its apparel offerings, Walmart last month sold off Shoes.com and its Bare Necessities brand, which offers intimate apparel.

Branding 263
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Nike Sues More Than 1,000 Websites And Other Parties Over Alleged Counterfeiting 

PYMNTS

The defendants, who have no affiliation with Nike or Converse, have attempted to capitalize on the popularity of plaintiffs’ marks by manufacturing and marketing counterfeit products falsely labeled as ‘Nike’ or ‘Converse,’” the company wrote.