International Expansion Weekly Newsletter—3/16/17
Startups & Tech
India-based Paytm, which facilitates recurring consumer payments, has launched in Canada, its first international market. The company has operated a R&D office in Toronto in 2014.
US-based FinTech startup Digital River World Payments is partnering with First Data to enable online stores in Australia, Hong Kong, and Singapore to use its payment processing services.
Indian serial entrepreneur Bhavin Turakhia will plow $25 million into his India-based Slack competitor, Flock, to build out its international operations. Though the article doesn’t say whether Flock will enter new markets, the company already operates in the US, UK, Brazil, Russia and Spain.
Belgium-based Silverfin, which integrates companies’ financial reporting data, has raised a $4.5 million Series A to fund international expansion. The round was led by Index Ventures, and the company plans to focus on expanding into the UK first.
Spain-based Inditex and Sweden-based H&M, both fast fashion clothing companies, have aggressive international expansion plans for 2017.
- H&M will open stores in 5 new markets, and begin online sales in 6 new markets this year.
- Inditex will open stores in 5 new markets, and begin online sales in 2 new markets this year.
TNW recommended the following markets as destinations for international expansion:
- Austin, Texas
- Hong Kong
- Tel Aviv
- Wellington, New Zealand
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