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Momentum Machines Gets $18M In Venture Funding For San Francisco Restaurant Run By Its Burger Bot

PYMNTS

Momentum Machines introduced its fully autonomous burger bot in 2012, and now, with news of an $18 million venture capital funding round , it’s one step closer to opening its flagship San Francisco restaurant based around the prototype, which has been in the works since June of last year. Whenever it finally comes to fruition.

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Square Capital Distributed 76K PPP Loans Totaling $820M

PYMNTS

Square Capital LLC processed more than $820 million in Small Business Administration (SBA) Paycheck Protection Program (PPP) forgivable loans in six weeks, the firm reported. The San Francisco-based division of Square Inc., Last year, Square Capital did $2.3 billion in business loan volume. months’ worth of that volume.

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Amazon CEO Jeff Bezos Invests In Chipper Cash In Latest African FinTech VC Deal

PYMNTS

Chipper CEO Ham Serunjogi confirmed on Twitter the startup, which got its initial foothold in the market as a peer-to-peer (P2P) payments service, has just wrapped up a $30 million Series B round of venture capital. Ribbit Capital, a VC firm in the U.S. that focuses on early-stage firms, led the investment round. Stripe, the U.S.-based

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Russia’s Ozon eCommerce Firm Nets $50M To Grow Logistics

PYMNTS

San Francisco-based Princeville Capital has announced a $50 million investment in Russian online retailer Ozon, which is partly owned by the Russian-based conglomerate Sistema. Ozon , one of Russia’s largest online retailers, has been on a growth spurt over the last few years.

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Bolt Nets $75 Million In Funding Round For eCommerce Innovation

PYMNTS

The round was led by General Atlantic and WestCap , and existing investors Activant Capital and Tribe Capital also participated. Bolt was founded in 2014 in San Francisco and works on tools to streamline web transactions. The round saw the company's valuation hit over $215 million. Data from the IBM U.S.

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FDIC Approves Square For Banking License

PYMNTS

Square Financial Services will originate commercial loans to the retailers that use Square for payments. The Utah Department of Financial Institutions still has to issues approvals to the San Francisco-based FinTech. The headquarters will be in Salt Lake City, Utah. Square, Inc. The new bank anticipates opening next year.

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CRE risk management: Navigating hazards and opportunities

Abrigo

WATCH Takeaway 1 Banks and credit unions are critical sources of capital for businesses in their communities, so how institutions assess CRE credits matters. Takeaway 3 Loan-level stress testing can help assess repricing risk, while capital stress testing helps clarify the impact of CRE loan losses on capital.