BitAuto (NYSE: BITA) has trimmed its losses considerably in FY2018. The company's latest results beat expectations on revenue and earnings, as well as seeing the Chinese auto services provider edge closer to breaking even. BitAuto stock rose 6.8 percent yesterday, to $19.98 U.S. per share following the results.
Yixin Group, the auto financing subsidiary of Chinese automotive services provider BitAuto, issued approximately 10 billion RMB ($1.44 billion U.S.) in financing in Q3 2018, on 123,000 used and new auto transactions.
Naspers-owned OLX Group has invested €15 million ($17 million U.S.) in leading French home decor platform Selency. It's the company's second investment in a niche marketplace to date.
Grenoble-based youth employment site Wizbii has raised €10 million ($11.3 million U.S.) in its fifth funding round. The funding came from existing investors CapHorn Invest and Sigma Gestion, along with Franco-German fund ODDO BHF.
SendJobs, a new app-based job portal in Singapore, recently secured $444,000 U.S. in seed funding from Captii Ventures. The app is owned by SendHelper Pte. Ltd. and seeks to reduce friction in the job market.
The Federal Court has given Nine Entertainment Co. the green light to take over Fairfax Media, despite former Domain boss Antony Catalano’slast-minutee bid to derail the deal.
QuintoAndar, a Brazilian startup focussed on the residential rental market of Brazil, has raised R$ 250 million ($ 64.2 million U.S.) in a Series C investment round led by leading global growth equity firm General Atlantic.
Leading Indian horizontal Quikr has posted a 95 percent revenue growth to $24.5 million U.S. (173.5 crores) for FY17-18.
The Mitula Group has received an improved offer for its acquisition by Japanese firm Lifull. Under the modified terms, Lifull will earmark $10 million AUD ($7.2 million U.S.) to top up Mitula shareholders' payments, if needed, to ensure they receive at least $0.80 AUD ($0.58 U.S.) per share.
Tokopedia, an online marketplace in Indonesia, is rumored to be in the process of raising $1 billion U.S. from existing investors including SoftBank.