Venmo to launch new debit card designed for teenagers
Venmo, an online payment service, maybe launching a new program that would allow adults to create bank accounts for their children, complete with special debit cards. This card will have limited privileges that will be decided by the original owner of the account. The company is currently just experimenting with the design and has not officially announced the feature.
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Tesla sales exceed expectations despite virus outbreak
Tesla has managed to sell 88,400 vehicles in its first quarter this year, surprising most analysts who anticipated much lower numbers due to the coronavirus outbreak. The company has managed to continue producing in its Shanghai factory and is still selling cars to consumers all over the world. It's factories in the US have been forced to shut down.
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Corporate banking startup Penta gets €18.5 million in funding
A corporate banking services startup called Penta, with headquarter in Berlin, Germany but operations expanding in Italy and Serbia, has successfully raised 18.5 million EUR in its new round of funding. Investors such as RTP Global and HV Holtzbrinck Ventures led the round. Penta aims to provide specialized banking services for small and medium-sized enterprises, called SMEs.
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Mobile bank launches new 'Business account' feature
Monzo, a startup that acts as an online bank that users can access through their smartphones, is launching new business accounts. These include new features that allow users to manage most of their finances directly from their phones, including tax pots and integrated accounting. There is also a free version of this account that does not have this powerful functionality.
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General Motors enters the electric car market with a new immensely powerful battery
General Motors has managed to develop an electric car battery that has twice the capacity of the largest battery Tesla is producing. GM will produce cars with batteries ranging from 50.0 kWh to a whopping 200 kWh, these extra-large batteries will exclusively be used to power their new electric trucks.
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