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Sequoia Could Put $7.2 Billion Into Auto1 With IPO Approaching

PYMNTS

Sequoia Capital has agreed to invest around 6 billion euros in Auto1 Group before the online car trading platform's initial public offering (IPO), Bloomberg reported Monday (Sept. DN Capital was one of the early backers of Auto1, investing in the company in 2013, just a year after the company founded, Bloomberg noted.

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OYO: Why Online Hotel Financing Could Be Key To US Expansion

PYMNTS

Now, the fast-growing operation is tapping into one of the growing trends in payments and commerce by offering online financing for its many partners. To get a better handle on what’s going on — and why OYO is embracing hotel financing — PYMNTS recent talked with Abhinav Sinha, chief operating officer and operating partner at OYO USA.

Online 100
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How Payments Make Online Travel Sites Worth The Trip

PYMNTS

Even in the quiet seasons, the online travel market is susceptible to the trade winds, and they don’t always blow in agents’ favor. But what hurts a business (especially a small one) more than an October snowstorm is when online fraudsters use CNP transactions to steal their services. The End of Excessive Card Surcharges.

Online 112
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Former Wirecard Exec Reported Dead

PYMNTS

T he German payments company, once valued at $28 billion, filed for insolvency in June after disclosing that more than $2 billion of its cash that was supposedly held in trustee-managed bank accounts in two Philippines banks did not exist. .

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Kering To Debut Its Own eCommerce Sites

PYMNTS

Kering is gearing up to offer its own luxury eCommerce sites within the next two years, ending existing joint-venture efforts and bringing such operations in house, reported Reuters. By 2020, Kering will bring full control of its luxury brands online through its own internal activities, which include building tech teams, said Reuters.

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FreshBooks Buys Mexico-Based Digital Invoicing Firm Facturama

PYMNTS

“In Mexico, 65 percent of small businesses do not survive past their second year, and it’s largely because of cash flow management issues,” FreshBooks CEO and Co-Founder Mike McDerment said in the announcement. Ramirez López will still be the company’s CEO, while also taking on the title of managing director of FreshBooks for Mexico.

Regional 130
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Australia Gets Taste Of Digital Food Delivery With DoorDash 

PYMNTS

DoorDash General Manager for Australia Thomas Stephens said the company is excited Australia is its first international expansion outside of North America. “We North America’s biggest food delivery service was launched in 2013 and operates in more than 4,000 U.S. cities as well as in Canada. billion in February.