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European payments startup funding surges

Nascent payments and transaction processing companies in Europe raised US$417.9m through 26 deals in the nine months to September, more than seven times the amount raised during the same period last year, research from Dow Jones VentureSource reveals. Venture capital investment in the sector now surpasses dotcom boom levels, boosted by the uptake of digital technologies and shift in consumer behaviour, WSJ says.

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