Every evening, the best of Tech news is in the TL; DR of FrenchWeb.
TL; DR (invariable acronym) (21st century): initials of “too long; didn’t read“,
either literally “too long ; not read“
1. (Internet) To express that the message that was sent was not read because it was too long.
2. (Internet) To express that the following is a summary of the text too long.
PayPal takes over Simility to fight online fraud. The deal is worth $ 120 million.
Why this is important: With this acquisition, PayPal, which claims 237 million customers worldwide, is seizing a technology that will allow it to strengthen the security of its own systems, but also that of its customers, who carry out online transactions, on mobile and in physical points of sale. Before offering Simility, PayPal had hit hard by offering in May the Swedish start-up iZettle, which markets a payment terminal for merchants, for $ 2.2 billion. This is the largest acquisition in the history of the American online payment giant. In recent months, PayPal has also got its hands on payment aggregator Hyperwallet and CRM specialist Jetlore.
The government is launching a fund of 400 million euros to support French Tech. The startups that will be able to benefit from this fund will be selected by certified business providers.
Why this is important: The government wants to make the French Tech seed a tool capable of financing large-scale pre-seed. It may also intervene directly in equity for larger fundraising. This fund follows on from the announcements made by Mounir Mahjoubi in May when he presented the 100 measures to simplify the life of startups. The Secretary of State for Digital Affairs then also declared his wish that France “establishes itself as the benchmark ecosystem in Europe“And”is anchored in the world top 3“.
Societe Generale seizes Lumo to move up a gear in renewable energies. Since its launch, the start-up launched in 2012 has collected 5 million euros in funding for more than 40 projects.
Why this is important: With this acquisition, Société Générale wishes in particular to strengthen its capacity to serve “its major energy customers»By offering them a crowdfunding solution for the development of their projects. The La Défense bank aims to raise 100 billion euros in financing for the energy transition over the 2016-2020 period, including 15 billion in the form of advice and financing in the renewable energy sector.