Meituan reportedly targets $55B valuation for Hong Kong IPO, leading to concerns that may be too high – TechCrunch

Meituan-Dianping is reportedly aiming for a $55 billion valuation in its upcoming initial public offering in Hong Kong, but the company’s net losses and increasing competition from Alibaba are already raising questions about whether that is too ambitious, despite the company’s market leadership in China. Meituan-Dianping, which bills itself as a “one-stop super app” that…

Lending startup Portal Finance nabs $200 million for small business loans in Latin America – TechCrunch

Latin American small businesses just got a big boost with a new commitment for a $200 million lending joint venture between the Bogota-based startup Portal Finance and Latin America’s largest financial services institution, BTG Pactual. For Portal Finance, the deal with BTG caps a meteoric rise, which has seen the company raise $1.5 million at…

Countingup, the business bank account that combines bookkeeping, raises £2.3M seed – TechCrunch

Countingup, the U.K. fintech that provides a business bank account that combines bookkeeping, has raised £2.3 million in seed funding. Leading the round is Forward Partners, with participation from previous backer Frontline Ventures, and JamJar Investments. Founded last year by Tim Fouracre, who previously founded cloud accounting software Clear Books, Countingup wants to simplify the…

For Labor Day, work harder – TechCrunch

Labor Day is a holiday that just doesn’t fit Silicon Valley. It’s purported purpose is to celebrate working men and women and their — our — progress toward better working conditions and fairer workplaces. Yet, few regions in recent times have supposedly done more to “destroy” quality working conditions than the Valley, from the entire…