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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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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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Healthcare Tech Company Truepill Raises $75M To Expand

PYMNTS

Also participating were existing investors Boston-based Optum Ventures, which offers capital and strategic guidance to startups; TI Platform Management LLC., Annie Lamont , managing partner at Oak HC/FT, said her firm joined Truepill as the company advances its vision, expands its platform and works to shape the future of healthcare.

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Wardrobe: Recommerce Meets The Sharing Economy In Bid To Become The ‘Airbnb of Fashion’

PYMNTS

From what they call the “lender’s” point of view, suppose a 40-something woman in Los Angeles looks in her closet and notices that there are three great blazers, three great skirts and two pairs of Louboutins that don’t get much usage. That also means no money needed to buy, store and manage inventory.

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Postmates Raises $300M In Venture Funding; Gives Tiger Global Management Seat On Board

PYMNTS

In a press release , Postmates said the funding round was led by Tiger Global Management, and comes on the back of a record year of growth, market expansion and adoption of a subscription service. Postmates, the on-demand delivery company, announced on Tuesday (Sept. 18) that it has raised $300 million in venture funding.

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Some Creditors Reportedly Oppose AMC Deal To Avoid Bankruptcy

PYMNTS

But a group of existing first-lien lenders including Apollo Global Management Inc., Ares Management Corp. AMC has been trying to reach an agreement for weeks as it tries to raise cash, manage a debt burden of more than $5 billion and avoid bankruptcy, Bloomberg reported. and Eaton Vance Corp.

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Uber Co-Founder Kalanick Prepares Global Network Of Food Delivery Kitchens

PYMNTS

The idea is to capitalize on the trend toward food delivery thanks to the likes of Uber Eats, GrubHub and Deliveroo. The venture also includes software to help the restaurants manage their inventory and integrate with food delivery platforms. According to a report in The Financial Times, the new venture is called CloudKitchens.