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iCreditWorks Raises $60M to Fuel Growth and Sector Expansion

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iCreditWorks raises $60M, led by Comvest Partners and Barings and including a follow-on investment by RedBird Capital, to fuel expansion of the Company’s omni-channel PaaS platform and continue its mission to reinvent Point-Of-Sale (POS) financing.

ISELIN, N.J., April 14, 2025 /PRNewswire/ — iCreditWorks, one of the fastest-growing FinTech platforms in the United States, today announced the completion of its latest capital raise. The Company raised $60M, led by $25M investments from both Comvest Partners, a private equity and credit investment firm, and Barings, a $442B global investment management firm. RedBird Capital, the Company’s largest outside investor, joined Comvest and Barings with a follow-on investment of $10M, a testament to their conviction in iCreditWorks’ trajectory and its future. The new funding allows for accelerated growth and ensures the Company is well capitalized for the future.

“We welcome Comvest Partners, Barings, and once again thank RedBird for their ongoing support. iCreditWorks will continue to execute its product roadmap, focus on PaaS automation, and integrate new capabilities that make the iCreditWorks App and omni-channel platform even more intuitive and powerful,” said Stephen E. Sweeney, iCreditWorks’ Chairman and Founder.

iCreditWorks has developed a highly configurable and modular Platform-as-a-Service (PaaS) solution that empowers its partners (leading financial institutions, enterprise networks, and large brands) to rapidly deploy embedded POS lending solutions with integrated payment technologies that meet consumers where they live—significantly decreasing time to market while eliminating cost and challenges facing those industries today. iCreditWorks’ digital payments infrastructure, which includes the rapid issuance of an in-App “Tap to Pay” virtual card, offers a seamless and flexible payment experience to consumers and merchants alike.

“We are excited to lead iCreditWorks’ capital raise,” said Charles Asfour, Partner at Comvest Partners. “We believe the Company’s highly compelling value proposition and attractive growth prospects make for a great addition to our opportunistic credit portfolio. We look forward to contributing to the Company’s ongoing success with both capital and other value-added resources going forward.”

Barings similarly embraced iCreditWorks’ Platform through its participation in the raise.

Michael Searles, Head of North America, Capital Solutions for Barings added, “We are excited to back the iCreditWorks Platform and look forward to working with the team to support the Company’s expansion.”

Mike Zabik, a Partner at RedBird Capital, will remain a Board Director since leading the prior capital raise; Charles Asfour and Micheal Searles will join as Observers to the iCreditWorks Board.

“Once again, RedBird Capital is excited to back iCreditWorks,” said Zabik, “and continue pushing their strategic edge in their next stage of growth.”

iCreditWorks will leverage these investments to fuel the continued expansion of its omni-channel PaaS platform into other business verticals (e.g., healthcare, SMB equipment, home improvement, etc.) and drive its commercial growth through new PaaS partnerships.
*All loans issued by WebBank.

About iCreditWorks
iCreditWorks leverages innovative technology and mobility to deliver an omni-channel platform experience that provides access to a broad suite of “Point-Of-Sale” (POS) financing products, empowering consumers to take control of their financing.* The first-of-its-kind iCreditWorks native mobile App delivers a simple, seamless, and secure financing experience that redefines the consumer journey. For more information, please visit www.icreditworks.com.

About Comvest Partners
Comvest Partners (“Comvest”) is a private investment firm that has provided equity and debt capital to well-positioned middle-market companies throughout North America since 2000. Through its private equity, direct lending and opportunistic credit investment platforms, Comvest offers tailored investment solutions across the capital structure along with deep industry expertise, operating resources, a collaborative approach, and significant transaction experience as an active investor. In 2025, Comvest Partners proudly celebrates 25 years of investment management leadership, and today manages $15.7 billion in assets, with over $16.8 billion invested since inception. Comvest Partners is based in West Palm Beach, with offices in Chicago and New York City. For more information, please visit comvest.com.

About Barings
Barings is a $442+ billion** global asset management firm that partners with institutional, insurance, and intermediary clients, and supports leading businesses with flexible financing solutions. The firm, a subsidiary of MassMutual, seeks to deliver excess returns by leveraging its global scale and capabilities across public and private markets in fixed income, real assets and capital solutions. For more information, please visit www.Barings.com.
**As of March 31, 2025

About RedBird Capital Partners
RedBird Capital Partners is a private investment firm that builds high-growth companies with strategic capital solutions to founders and entrepreneurs. The firm currently manages $12 billion in assets on behalf of a global group of blue-chip institutional and family office investors. Founded in 2014 by Gerry Cardinale, RedBird integrates sophisticated private equity investing with a hands-on business-building mandate that focuses on three core industry verticals – Sports, Media & Entertainment, and Financial Services. Over his 30-year investment career, Cardinale has partnered with founders and entrepreneurs to build some of the most iconic growth companies in their respective industries. For more information, please visit www.redbirdcap.com.

Contact
Rich Groves
SVP – Professional Affairs
201-450-4268
rich.groves@icreditworks.com 

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SOURCE iCreditWorks

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Trip.com Group Sincerely Accepts Administrative Penalty Decision Issued by the State Administration for Market Regulation of the People’s Republic of China

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SINGAPORE, July 25, 2026 /PRNewswire/ — Trip.com Group Limited (Nasdaq: TCOM; HKEX: 9961) today announced that it has received the administrative penalty decision issued by the State Administration for Market Regulation of the People’s Republic of China.

Trip.com Group sincerely accepts the decision and will adopt rectification measures in accordance with applicable laws and regulations to implement the decision’s requirements. The Company will strengthen its long-term governance mechanisms and strive to contribute to the sustainable development of the travel industry.

Trip.com Group’s management team will host a conference call at 8:00 AM U.S. Eastern Time on July 27, 2026 (or 8:00 PM Hong Kong Time on July 27, 2026).

The conference call will be available on Webcast live at: http://investors.trip.com.

All participants must pre-register to join this conference call using the participant registration link below:
https://register-conf.media-server.com/register/BIb78e08d8f18340c4882a7e4ab961906b.

Upon registration, each participant will receive details for this conference call, including dial-in numbers and a unique access PIN. To join the conference, please dial the number provided, enter your PIN, and you will join the conference instantly.

For further information, please contact:
Investor Relations
Trip.com Group Limited
Email: iremail@trip.com

View original content:https://www.prnewswire.com/news-releases/tripcom-group-sincerely-accepts-administrative-penalty-decision-issued-by-the-state-administration-for-market-regulation-of-the-peoples-republic-of-china-302834599.html

SOURCE Trip.com Group Limited

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NAVER Partners with Brookfield and NVIDIA to Expand Korea’s National AI Factory Infrastructure Buildout

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SAN FRANCISCO, July 25, 2026 /PRNewswire/ — NAVER, Brookfield and NVIDIA announced an expansion of Korea’s sovereign AI factory infrastructure. New investments will increase the initial NVIDIA DSX™ AI factory deployment from 55 megawatts to 200 megawatts.

Announced during Korea President Jae Myung Lee’s AI Summit visit to San Francisco, the planned 200-megawatt expansion will be built with the NVIDIA DSX platform at NAVER’s GAK Sejong hyperscale data center in Sejong, South Korea. The expanded infrastructure will provide Korea- and U.S.- based AI innovators with access to production-scale AI compute for building next-generation models, agents and AI-powered services.

Under the terms of the agreements, Brookfield will fund up to $9 billion as the exclusive capital partner, NVIDIA will invest $1 billion and NAVER will fund the remaining amount to finance the $10 billion project.

This builds on NAVER’s June announcement to extend its GAK Sejong data center with NVIDIA DSX, with a long-term path to gigawatt-scale sovereign AI infrastructure serving Korea’s enterprises, industries, government organizations and global AI cloud customers. Combining Brookfield’s capital with NVIDIA’s computing platform, the investment supports NAVER’s AI factory deployment.

“NVIDIA’s strategic investment and our infrastructure supply agreement with Brookfield have propelled NAVER’s vision for the AI Factory business into a robust execution phase,” said Haejin Lee, Founder and Chairman of NAVER. “Leveraging the solid partnerships with our global partners, we will drive technological innovation, foster a sovereign AI ecosystem, and spearhead efforts to strengthen South Korea’s AI competitiveness.” 

AI Factory Expansion and Open Model Collaboration to Fuel AI Innovators

NAVER, as an NVIDIA Cloud Partner, provides deep expertise in operating hyperscale infrastructure powered by the full-stack NVIDIA AI platform. The 200-megawatt AI factory, featuring NVIDIA Vera Rubin and Blackwell platforms, will establish a dedicated resource pool for emerging AI companies, providing the compute, software and support needed to develop and deploy competitive AI models and applications at scale.

This expanded infrastructure also builds on NAVER and NVIDIA’s collaboration on open model development for agentic and physical AI. NAVER is advancing its HyperCLOVA X models to be based on NVIDIA Nemotron™ 3 Ultra open models with its proprietary data and training expertise. NAVER is also the first Korean company to join the NVIDIA Nemotron Coalition, contributing to open model development across pretraining, post-training and reinforcement learning.

NAVER plans to launch an AI agent platform in Korea in the second half of the year, powered by NVIDIA Agent Toolkit software including NVIDIA NemoClaw™ blueprints. NAVER is also developing a Seoul World Model using proprietary urban street-view and spatial modeling data, built on NVIDIA Cosmos™ world foundation models.

About NAVER

Founded in 1999, NAVER is Korea’s largest Internet company and one of the world’s top tech companies. Leading cutting-edge technologies, NAVER operates the No.1 search engine in Korea and holds various business portfolios encompassing commerce, fintech, cloud, AI and robotics.

NAVER recorded sales of KRW 12.04 trillion (USD 8.18 billion) in 2025. TEAM NAVER continues to enhance its business portfolio and expand its global presence across Japan, North America, and Europe, while pursuing innovation through continuous research and development in future technologies.

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SOURCE NAVER

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Beijing Review: Walking Through Time: China and U.S. Youths Explore Dali’s Past and Future

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BEIJING, July 24, 2026 /PRNewswire/ — On July 17, a China-U.S. youth delegation came to Dali of Yunnan Province. By examining how Dali’s rich history intersects with modern development, the delegates explored new pathways for rural development.

They visited Dali Old Town, tried their hand at making the Bai people’s Three-Course Tea and also explored the ancient town of Xizhou, where they learned how modern tourism and indigenous life coexist.

In Yunnanyi Village, they explored its history as a stop along the Tea Horse Road and learned about the role it played during the Second World War (WWII).

Tyler James Smith

“I think it’s a very underappreciated part of World War II history. Hearing these stories of different countries working together despite cultural differences is incredibly inspiring.

I also think there are many stories like these that haven’t been widely told, simply because World War II is such a complex period in history. That’s why I think it’s so meaningful to visit museums like this and experience these stories firsthand.”

At Xiangyun Economic and Technological Development Zone, they visited a local new energy company to see how green, low-carbon development is driving regional growth.

Valerie Marie

“I recently started studying energy transitions. I know China has been really big in the renewable energy sector. So actually getting to hear more about [China’s] 2060 [pledge], learning more about carbon neutrality [goals], as well as other zero-carbon goals, was cool.”

During their stay in Dali, they also strolled along the Erhai Lake Ecological Corridor.

Bai Yiwen

“I’d describe this journey as “to be continued,” because my own connection with Yunnan is far from over. For the U.S. delegates, this was only their first visit, so they’ve only had a glimpse of what Yunnan has to offer. I hope they will have more opportunities to come back to China, explore other cities in Yunnan, and discover even more of its people, culture and traditions.”

After Dali, the delegates will visit Beijing for more tours and exchanges. The event was co-hosted by China International Communications Group (CICG) Center for the Americas and the U.S.-based International Student Conferences.

https://x.com/beijingreview/status/2080104404552663067?s=46&t=yfVMVdMyE2zKAFrYaLoV-g

https://www.facebook.com/share/v/1EtGCCKzy4/?mibextid=wwXIfr

https://www.tiktok.com/@cachinachic/video/7665536913532587294?is_from_webapp=1&sender_device=pc&web_id=7227134149436605995

https://youtu.be/jGONWTqwduc?is=KfL-Zn3HyVYE-KEm

Contact: Jiaweibellapeng@163.com

View original content:https://www.prnewswire.com/news-releases/beijing-review-walking-through-time-china-and-us-youths-explore-dalis-past-and-future-302834587.html

SOURCE Beijing Review

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