Square proposed to buy Afterpay, Saviynt and Deloitte tie up hands & more

SaaS news this week (24th July- 31st July, 2021): Square proposed to buy Afterpay, Saviynt and Deloitte tie up hands & more
Square proposed to buy Afterpay, Saviynt and Deloitte tie up hands & more

Valued at 85 million, Indian entrepreneurs backed Together Fund  is ready to fuel the next phase of country’s SaaS revolution

India’s first operator-and-founder-led VC fund is here. Four high profile Indian entrepreneurs including Girish Mathrubootham, Manav Garg, Shubham Gupta and Avinash Raghava have created a venture capital fund named Together Fund. 

The fund aims to help young SaaS businesses scale globally with its initial corpus of $85 million. The fund also channels a network of over 150 startup founders and investors including names like Krish Subramanian of Chargebee, Nishith Rastogi of Locus, Shashank ND of Practo and Kunal Shah of CRED.The fund is looking for around 20 SaaS start-ups at pre-seed and Series B stages. The investments will range between $250,000 to $3 million.

Square proposed to buy Afterpay for $29 million

Square, a payment software company proposes to buy Afterpay, an Australian ‘buy now, pay later’ start-up for $29 million. The deal is scheduled to conclude in the first quarter of 2022, depending on certain closing conditions.The company intends to link its Seller and Cash App business divisions with Afterpay, allowing even the “smallest of businesses” to allow BNPL for its customers. the integration of Afterpay would “accelerate Square’s strategic goals” for its Seller and Cash App ecosystems. 

Square co-founder and CEO Jack Dorsey said “We built our business to make the financial system more fair, accessible, and inclusive, and Afterpay has built a trusted brand aligned with those principles. Together, we can better connect our Cash App and Seller ecosystems to deliver even more compelling products and services for merchants and consumers, putting the power back in their hands.”

Saviynt and Deloitte tie up hands in a strategic alliance, offering identity management solutions to enterprises

Saviynt, a cloud identity solutions provider, announced that its risk analytics, identity governance and other technologies would now be available as a managed service via Deloitte’s Identity+ Platform.

The identity management landscape had undergone fundamental changes due to the talent acquisition struggles, evolving privacy and security regulations, growth in cloud adoption and the shift to hybrid workplaces. Modern enterprises seek out trusted advisors to help them address these security and compliance challenges. With the strategic alliance customers would be able to avail cloud-first solutions for tackling complex identity use-cases.

Mambu unveils all-digital product for SME lenders

Germany’s renowned SaaS-based banking platform for financial institutions, has recently launched an all-digital solution for small and medium enterprises (SME). The end goal is to lower their overall financial costs and speed up time to market.

Mambu’s solution for SMEs is designed to cater to new product launches and offers greater flexibility to adapt to changes quickly. Users can adjust loan conditions, supporting borrowers in financial difficulties. Its flexibility allows clients to serve SME companies better and release financial burdens on them during times like the pandemic.

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