Zinnia Lee / Forbes:
Hong Kong-based digital payments startup Reap, which is developing tools for Web3 companies, raised a $40M Series A led by Acorn, Arcadia, and HashKey — Reap, a digital payment company based in Hong Kong, has netted $40 million in a funding round aimed at developing infrastructure …
Jonathan Burgos / Forbes:
Hong Kong-based XanPool, a cross-border payments infrastructure provider for both crypto and fiat currencies, raised $41M in Q2 2022 at a $400M valuation — XanPool—a cross-border payments infrastructure provider—is accelerating expansion plans across Europe, Middle East …
Newley Purnell / Wall Street Journal:
Hong Kong officials and legislators criticize Google over a pro-democracy song, “Glory to Hong Kong”, appearing among the top results for the national anthem — Officials and lawmakers call on company to alter its results page to show China’s national anthem instead of a song made popular by antigovernment protesters
Kenrick Cai / Forbes:
Runway, one of the two startups behind Stable Diffusion, raised a $50M Series C led by Felicis Ventures; sources: Runway’s valuation is $500M, and ARR is ~$1M — Runway ML, one of the two startups behind the popular AI text-to-image model Stable Diffusion, has raised new funding at a $500 million valuation, Forbes has learned.
Jacquelyn Melinek / TechCrunch:
Fleek, which is developing tools for Web3 companies, including for storage, billing, and hosting, raised a $25M Series A led by Polychain Capital — Web3 developer platform Fleek has raised $25 million in Series A funding led by Polychain Capital, the company shared exclusively with TechCrunch.
Thomas Brewster / Forbes:
Police and other sources say Block’s Cash App has become one of the primary payment tools for sex traffickers, including due to lax user ID rules — The Twitter and Block billionaire made Cash App into a $700 million monster. Now police officers, nonprofit critics and current and former employees …
Chris Metinko / Crunchbase News:
Analysis: funding to VC-backed Web3 startups fell from $29.2B in 2021 to $21.5B in 2022; Q4 2022 funding fell 74% YoY from $9.3B to just $2.4B — While everything Web3-related dominated much of 2021 and the early part of last year, the end of 2022 showed a significant cooling of investor interest in the still young space.
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