Snapchat is raising around $200 million at a $20 billion valuation, TechCrunch reports. The new financing is said to be a follow on from the $175 million Series F round led by Fidelity, which valued the company at $16 billion. Snapchat is yet to confirm the financing reports.
Gett, a taxi-hailing app and a major competitor of Uber, has raised $300 million in a strategic investment from Volkswagen, the German carmaker. Gett will use the investment to fund growth in Europe and New York City. Gett is a Tel-Aviv, Israel-based company and offers rides for as low as $1. The company has now raised more than $520 million. “Alongside our pioneering role in the automotive business, we aim to become a world leading mobility provider by 2025,” said Matthias Müller, Chairman of the Board of Management of Volkswagen Aktiengesellschaft in a statement. “Within the framework of our future Strategy 2025, the partnership with Gett marks the first milestone for the Volkswagen Group on the road to providing integrated mobility solutions that spotlight our customers and their mobility needs.”
SigFig, a wealth management technology company, has raised $40 million in financing from financial institutions including Eaton Vance, Comerica Bank, New York Life, Santander InnoVentures, and UBS. VC firms Bain Capital Ventures, DCM Ventures, Nyca Partners and Union Square Ventures also participated in the investment round. SigFig will use the funds to accelerate the expansion of its team and technology platform. Mike Sha, CEO of SigFig, said: “Today’s announcement signals a major vote of confidence by some of the world’s most respected financial institutions in the quality of SigFig’s enterprise wealth management technology solutions. Our business-to-business strategy of partnering with some of the largest financial services companies in the world will help us rapidly scale and achieve our mission of giving all investors, large and small, access to high quality unbiased financial advice. We are very pleased to have the backing of these institutions and the continued support of several of the most respected venture capital firms in the world.”