Today In Payments Around The World: Red Dot Lands $200M For Tech Startups; Walmart Sells Retail Locations To Grupo de Narvaez
In today’s top payments news around the world, Red Dot Capital Partners has landed $200 million to invest in tech firms, Walmart announced it would sell its retail operations in Argentina to Grupo de Narvaez. Plus, Amazon has opened three additional logistics hubs in Brazil.
Israel-based Red Dot Capital Partners has raised nearly $200 million to invest in tech firms looking to grow into Japan and Southeast Asia. The firm is geared toward growth-stage tech companies. According to Red Dot’s website, the venture capital firm is funded by Temasek of Singapore. The company’s portfolio encompasses Codefresh, EverC and Coralogix, among others.
Walmart is leaving Argentina, announcing an arrangement to sell its retail locations there to a regional supermarket chain amid an economic crisis that is impacting the South American nation. The globe’s biggest brick-and-mortar retailer announced it would sell its retail operations in the country to South American grocery chain Grupo de Narvaez.
The online shopping spike generated from the pandemic has led Amazon to open three more logistics centers in Brazil. Those new centers are running in Brasilia, Rio Grande do Sul and Minas Gerais. The newest expansion — Amazon’s most comprehensive in Brazil as of its 2012 opening — will bring about 1,500 employment positions and add a further 807,000 square feet of distribution space.
FinTech upstarts in Britain are rushing to make backup plans to avoid disruption to users as a no-deal Brexit appears more and more likely. The Dec. 31 deadline is approaching as the European Union and U.K. work to come up with a new trade arrangement. During the interim, Britain has had the ability to access the market but that “passporting” right is likely going away.