Residents of even the tiniest far-flung villages in China may soon be able to pay on their phones to run daily errands as Beijing announced this month that it aims to make mobile payments ubiquitous in rural areas by the end of 2020. The plan arrived in a set of guidelines (document link in Chinese) […]
View More China wants its rural villages to go cashless by 2020Category: internet penetration
EVs and online marketplaces thrive despite slump in Chinese car sales
China’s massive auto market hit the brakes last year as trade tensions and a softening economy dampened consumer confidence, but one segment soared on account of increasing internet penetration — used car sales. New passenger car sales fell to 23.7 million last year, representing a 4.1 year-over-year drop according to a new report by China’s Association of […]
View More EVs and online marketplaces thrive despite slump in Chinese car salesGolden Gate Ventures closes new $100M fund for Southeast Asia
Singapore’s Golden Gate Ventures has announced the close of its newest (and third) fund for Southeast Asia at a total of $100 million. The first hit a first close in the summer, as TechCrunch reported at the time, and now it has reached full capacity. Seven-year-old Golden Gate said its LPs include existing backers Singapore […]
View More Golden Gate Ventures closes new $100M fund for Southeast AsiaBrazilian startup Yellow raises $63M — the largest Series A ever for a Latin American startup
After selling their ridesharing startup, 99, to Didi Chuxing for $1 billion last year, Ariel Lambrecht and Renato Freitas didn’t waste any time throwing their hats back in the ring. Months after their big exit, the pair joined forces with Eduardo Musa, who spent two decades in the bicycle industry, to start another São Paulo-based mobility startup. […]
View More Brazilian startup Yellow raises $63M — the largest Series A ever for a Latin American startupThe dramatic rise and fall of online P2P lending in China
Editor’s note: This post originally appeared on TechNode, an editorial partner of TechCrunch based in China. When Emily Zhang was interning with a peer-to-peer (P2P) lending firm in the Summer of 2016, her main task was to carry out research on other P2P lending firms. She found the rates of return tempting and some underlying […]
View More The dramatic rise and fall of online P2P lending in China