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Plata, a fintech startup from Mexico, has achieved unicorn status with a $1.5 billion valuation after raising $160 million in a Series A funding round led by Kora. Launched in April 2023, the company now serves one million active credit card users and accounts for 10% of new credit cards issued in Mexico. Founded by former Tinkoff Bank executive Neri Tollardo, Plata has raised a total of $750 million in equity and debt, navigating a challenging funding environment for Latin American startups.
San Francisco-based telematics insurer Nirvana has secured $80 million in Series C funding, led by General Catalyst, to enhance services for trucking fleets and individual drivers. This funding increases Nirvana's valuation to $830 million and aims to address rising operational costs in the trucking industry, which faces challenges from proposed tariffs on imports from Canada and Mexico. The investment will support the development of technology and tools for trucking businesses navigating these economic pressures.
San Francisco-based telematics insurer Nirvana has secured $80 million in Series C funding, led by General Catalyst, to enhance services for trucking fleets and individual drivers. This funding increases Nirvana's valuation to $830 million and aims to address rising operational costs in the trucking industry, which faces challenges from proposed tariffs on imports from Canada and Mexico. The investment will support the development of technology and tools for trucking businesses navigating these economic pressures.
Nissan has appointed chief planning officer Ivan Espinosa as the new CEO, effective April 1, succeeding Makoto Uchida amid declining earnings and failed merger talks with Honda. Espinosa, who has been with the company since 2003 and has extensive experience in product planning, will lead the automaker's shift towards electric vehicles. A press conference is scheduled for 0930 GMT to discuss the transition.
The US stock market has plummeted over $4 trillion since its peak on February 19, primarily due to economic uncertainty stemming from ongoing tariff policies. The S&P 500 fell 8.6% from its record high, while major tech stocks like Tesla and Apple experienced significant losses.Defensive assets gained traction, and demand for US government debt increased as hedge funds reduced stock exposure at the highest rates in over two years. Analysts caution that trade tensions and mixed economic signals may continue to fuel market volatility in the weeks ahead.
The US stock market has plummeted over $4 trillion since its peak on February 19, primarily due to economic uncertainty stemming from ongoing tariff policies. The S&P 500 fell 8.6% from its record high, while major tech stocks like Tesla and Apple experienced significant losses.Defensive assets gained, and demand for US government debt increased as hedge funds reduced stock exposure at the highest rates in over two years. Analysts caution that trade tensions and mixed economic signals may continue to fuel market volatility in the weeks ahead.
Consolidated Planning Corp increased its stake in Costco Wholesale by 33.4%, now holding 7,488 shares valued at $6.6 million. Institutional investors own 68.48% of the stock, which has seen price targets raised by several analysts, with JPMorgan forecasting a potential upside of 10.96%. Costco's recent earnings report showed a revenue of $63.72 billion, slightly above estimates, despite an EPS miss.
Taiwan's stock market fell on March 7, with the Taiex index dropping 139.36 points, or 0.61%, to close at 22,576.07 amid concerns over new US tariffs affecting Canada, Mexico, and China. Despite the downturn, Taiwan Semiconductor Manufacturing Co. (TSMC) remained stable at NT$1,005.00, potentially supported by government-backed funds as foreign institutional investors sold NT$29.50 billion in shares. Analysts anticipate ongoing market pressure as the implications of US trade policies unfold.
Costco Wholesale Corporation reported strong revenue, although its shares fell following a quarterly earnings miss. The company operates 890 warehouse stores across various countries, with net sales primarily from product sales (98.1%) and a smaller portion from subscriptions (1.9%). Geographically, 72.4% of net sales come from the United States, followed by Canada (13.7%) and other regions (13.9%).
President Trump addressed Congress, emphasizing the potential for increased tariffs on Mexico, Canada, and China, with a broader wave of global tariffs set to begin on April 2. While he paused higher tariffs on automobiles for a month due to industry concerns, uncertainty remains as tariffs may be enacted, withdrawn, or revised frequently. A looming government shutdown is anticipated after March 14, with bipartisan efforts likely to extend funding into late April or May, though Trump's push for a debt ceiling extension may face challenges.
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Plata becomes Mexico's latest unicorn with 160 million funding round
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Moore Strategic Ventures LLC
Kavak
Fasanara Capital Ltd.
MEX
Neri Tollardo
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04:00 12.03.2025
Nirvana secures 80 million dollars to enhance telematics insurance for trucking industry
05:30 11.03.2025
Nirvana secures 80 million dollars to enhance telematics insurance for trucking industry
05:30 11.03.2025
nissan appoints ivan espinosa as new ceo succeeding makoto uchida
04:19 11.03.2025
us stock market loses four trillion amid tariff policy turmoil
04:00 11.03.2025
us stock market loses four trillion amid tariff policy turmoil
04:00 11.03.2025
costco wholesale sees increased institutional investment and positive analyst ratings
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Costco Wholesale Corporation Corp.
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09:02 09.03.2025
Taiwan stocks decline amid US tariff concerns and foreign selling pressure
06:00 08.03.2025
costco reports strong revenue but shares decline after earnings miss
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20:59 07.03.2025
tariff tensions rise as trump addresses congress and delays auto tariffs
20:54 07.03.2025
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