EMEA Daily: Cazoo Pulls Out of EU; Pleo Teams With Yapily

EMEA Daily: Cazoo Pulls Out of EU; Pleo Teams With Yapily

Today in Europe, the Middle East and Africa, the online car seller Cazoo announced that it would wind down its business in mainland Europe and Pleo and Yapily unveiled a new SMB cashflow solution.

Cazoo Pulls Out of EU to Focus on UK Market

Following a strategic review of its business in mainland Europe, Cazoo Thursday announced in a statement that it is closing its operations in the EU in order to focus exclusively on the U.K. market, “with the aim of further preserving cash and positioning the Company to achieve profitability without the need for further external capital.”

Before the announcement, Cazoo had launched in three EU countries. Last year, the car marketplace went live in France and Germany. The platform became available in Spain earlier this year and was introduced in Italy as recently as June.

Construction Industry Platform Briq Buys Swipez to Add AR Automation

Construction industry-focused financial automation platform Briq has expanded its capabilities by acquiring India-based FinTech Swipez.

Swipez automates billing and accounts receivable (AR), and its tools will be added to Briq’s existing ability to automate planning, payment and other financial workflows for construction companies, according to a Thursday (Sept. 8) press release.

Standard Chartered Tests Duplicate Finance Detection Tool

Standard Chartered has completed what it called a test of the trade financing validation service from MonetaGo over the SWIFT payments system.

Standard Chartered carried out this pilot to “mitigate the risks of duplicate trade finance fraud on a global scale,” according to a statement released Thursday.

Pleo Teams With Yapily to Power SMB Cash Flow

Automated expense management system Pleo is leveraging its partnership with the open banking platform Yapily to help small and medium-sized businesses (SMBs) manage their cash flow.

Using Yapily Payments, Pleo customers can use their bank account to top up their Pleo account. Customers receive funds instantly, avoiding settlement times that average 48 hours.

Checkout.com Intros Bespoke Solution to Support Marketplace Growth

Full stack payments firm Checkout.com is launching a new customized flexible solution to accommodate marketplaces and sellers in a digital economy that is always developing and advancing.

The launch of Checkout.com’s latest tool, Integrated Platforms, is intended to assist the increasing number of people selling online by enabling marketplaces to build a bespoke, optimized payment flow.

Darktrace Shares Plummet As Takeover Deal Collapses

Shares in Darktrace tumbled more than 30% on Thursday (Sep. 08) morning after private equity group Thoma Bravo announced it would not make an offer for the British cyber security firm.

In a statement reported in the Financial Times reported, Darktrace said “early stage discussions took place with Thoma Bravo about a possible offer for the company but an agreement could not be reached on the terms of a firm offer.”

Thoma Bravo has given no reason for walking away from the deal.

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