Category: Finance

Databricks, a leader in AI-driven data analytics and infrastructure, has raised an impressive $8.6 billion in its ongoing Series J funding round, surpassing OpenAI’s previously record-breaking venture capital deal for 2024. Led by Thrive Capital, this funding round is positioning Databricks to potentially reach a total of $10 billion, with the company’s valuation climbing to […]

Last year, I had the opportunity to meet and befriend Brock Pierce at an Israel conference at Gotham Hall in New York City. Pierce is a blockchain pioneer, impact investor, and philanthropist with an extensive track record of founding, advising, and investing in disruptive [innovative] businesses. He’s been credited with pioneering the market for digital […]

The pay-as-you-go (PAYGo) solar sector is crucial for expanding energy access to underserved communities, yet the financial sustainability of companies in the industry remains a significant challenge. Over the past year, CGAP along with MFR and GOGLA analyzed the extent to which different types of PAYGo firms are able to reach low-income customers. Using the […]

Open finance holds immense promise for financial inclusion, but with that great opportunity comes significant risk. As consumers share more of their data to access financial services, safeguarding their rights and security becomes paramount. At a recent open finance workshop by the Financial Stability Institute, The World Bank, and CGAP, experts from nearly 50 countries […]

The startup ecosystem is a vibrant and dynamic sector that fuels economic growth, innovation, and job creation across the globe. However, despite the potential for entrepreneurship to uplift communities, the path to securing funding remains an arduous challenge for many, particularly those from underrepresented and marginalized communities. Around the world, access to startup funding is […]

The UK government has unveiled a £100 million Innovation Fund aimed at transforming the way the public sector operates. Spearheaded by Pat McFadden, the Minister for Intergovernmental Relations, the initiative seeks to inject a “startup mentality” into government operations by adopting a “test and learn” culture, a practice commonly employed by leading digital firms. The […]

The African Development Bank (AfDB) has approved the release of the first tranche of a $1 billion, 25-year loan to South Africa’s state-owned freight and infrastructure operator, Transnet. This funding is part of a significant financial agreement aimed at boosting Transnet’s infrastructure development and supporting the country’s economic recovery. Loan Details and Purpose The loan, […]

The World Bank has approved a $660 million loan to support the Eastern Turkey Middle Corridor Railway Development Project, a vital infrastructure initiative aimed at upgrading a 660-kilometer railway line that stretches from Divriği to Kars in eastern Turkey. This significant investment is part of the World Bank’s ongoing efforts to support Turkey’s transportation sector […]