Coinbase UK Now Supports Four New Assets: XTZ, DAI, EOS, & LINK

Cryptocurrency exchange platform Coinbase announced last week that Coinbase UK now supports four new assets on its platform, which are Tezos (XTZ), Dai (DAI), EOS (EOS), and Chainlink (LINK).  Coinbase reported that by supporting the new assets, the platform grants customers access to buy, sell, and trade even more assets through a GBP wallet, funded by a GBP bank account or credit and debit card. The crypto portal also noted that the support follows the complete reinstatement of its GBP wallet functionality and the recent launch of BAT, ZRX, REP, XLM, and XRP.

“Adding support for even more assets brings us closer to our long-term mission to help bring economic freedom, innovation, and equality to everyone, everywhere.”

The support of the assets also comes just days after Coinbase announced its Coinbase Card supports five new assets and ten new countries. The card is now available in a total of 29 countries, with customers in Bulgaria, Croatia, Denmark, Hungary, Iceland, Liechtenstein, Norway, Poland, Romania, and Sweden being able to spend their crypto balance using a contactless Visa debit card in millions of locations worldwide.

“We’ve also more than doubled the number of assets available to spend — going from 4 to 9. XRP, BAT, REP, ZRX, and XLM wallets can now be used to buy anything from coffee to Christmas shopping. These five new assets join BTC, ETH, BCH, and LTC. Spending crypto as easily as money in your bank account is exactly what Coinbase Card lets you do. But for us, it doesn’t stop there. Spending summaries, combined with our brand new monthly statements feature, make tracking your crypto spend easy.”

Overfunding: Crowdcube Success Oval Money Quickly Surpasses £1 Million Funding Target on Seedrs

Less than two years after securing £626,310 through its Crowdcube funding round, European automated saving and crowd investing marketplace Oval Money launched an equity crowdfunding campaign on Seedrs and has quickly secured its initial £1 million funding target.

As previously reported, Oval Money provides easy to read, readily available information on everyday expenses. The marketplace explained that each week its app automatically uses the steps and creates a saving balance that will be moved weekly into a personal and secure digital wallet. 

The Oval Money app helps users save money and then find the best financial products to help make those savings grow. Oval was created to help bring inclusion, education, and fairness back into personal finance. We aim to empower users to TRACK their full financial history, LEARN to make better spending decisions, SAVE automatically, and crowd INVEST through a marketplace of financial products.”

Users may now select one or more of Oval’s services and integrate these with their existing banks and cards:

  • Oval Coach: Provides tailor-made financial missions, promoting good financial habits.
  • Oval Future: Helps users set aside savings and invest in their future through our marketplace of financial products, automatically and on a recurring basis.
  • Oval Activities: Keeps track of every financial activity across any card and account, linked to the app in open banking. It analyses transactions to help users better understand and then manage their spending habits.
  • Oval Pay: Currently launched only in Italy, is the only current account in Europe that we believe allows users to automatically save and invest in their future while they spend.

Oval Money further explained that it “speaks” to a generation of digital natives with busy lives and many dreams, but low financial education.

“As an independent distribution platform, we aim to cater for this generation, 25 to 35 year old young adults, by facilitating access to a wide range of products, streamlining complex onboarding processes, and providing a transparent overview of their money. We believe that access to financial products shouldn’t be closed to be just for the wealthy few.”

Funds from the Seedrs round will be used for the following:

  • Expanding the Oval platform from Italy and the UK as major markets to a number of other southern European markets, starting from Spain, thus spending on new key hires and marketing campaigns.
  • Grow product offering in the Oval Future section

Oval Money went on to add:

“We aim for this to include the ability to access early stage investments through Seedrs as a new asset class for our investors. Other fixed rate products that our users have loved in the past are in our pipeline, as well as many more investment opportunities from exciting new partners.”

Overfunding: Educational Publishing & Gaming Company Mrs Wordsmith Quickly Surpasses £1 Million Funding Target on Crowdcube

Mrs Wordsmith, a UK-based educational publishing and gaming company, quickly secured its initial £1 million equity crowdfunding target through its Crowdcube campaign. The funding round, which already raised £750,000 in September (prior to public launch) has attracted more than 500 investors. The company is offering 3.16% in equity at a £34,717,123 pre-money valuation.

Founded in 2015, Mrs Wordsmith claims to be on a mission to teach every child in the world the “10,000 words” they need to succeed. The company shared:

By building on our brilliantly illustrated content & pedagogy, we are launching the Epic Word Adventure to make video games more valuable – a low-stress way for kids to constantly expand their vocabulary while playing a fun game they love. We use data-science to teach children vital vocabulary to support them in achieving in national exams, and in digesting the books they read, with the ultimate aim of improving their reading age and exam results.

Mrs Wordsmith also reported that its unit growth has been strong, with 38% compound MoM growth this year. The company noted that in 2019 alone, it has launched in Europe, Canada & Australia with eyes towards Asia and Latin America. Its processes enable its platform to launch more than ten products a year.

Education is behind the times. 600 [million] school-aged children are not learning a minimum in Math [and]  Reading. Children are now spending twice as much time playing video games as they do outside. Unlocking the secret of loving to learn is key to our goal of becoming the biggest mobile gaming & publishing company in education.”

Funds from the Crowdcube round will be used to help Mrs Wordsmith accelerate the Epic Word Adventure into new territories as well as further develop exciting content for children to learn and love language. The campaign is set to close at the end of December.

Citi Announces Launch of Cross-Border B2B Payments Platform

Citi announced on Wednesday it has launched a new cross-border platform to help its multinational clients manage the complexities in collecting cross border business-to-business payments. According to Citi, Citi Global Collect will help multinational clients continue to extend their global reach. The financial group claims the processing will make it easier to collect funds from overseas payers and apply cash faster.

“Citi combined its local payment offerings, account structures and FX capabilities with a leading digital invoicing platform from HighRadius Corporation, a Citi Ventures portfolio company. This fully integrated platform connects Citi’s clients to their international payers across key markets in all regions. By automating the entire workflow – including international billing, automated payment, currency selection and reconciliation – multinational clients achieve greater visibility and control over cross-border receipts and their global cash position.”

While sharing more details about the platform,  Flavio Figueiredo, Global Head, Rates and Currencies Corporate Sales at Citi, explained:

“With the roll out of Citi Global Collect, Citi continues to prove that we are able to leverage our greatest assets to create competitive technology solutions that meet our clients’ international business needs and allow them to manage associated currency risks.”

Citi went on to add that Citi Global Collect is one of the new solutions being added to Citi’s continuously-expanding product suite, including Citi Payment Insights, Citi Virtual Accounts, Citi Smart Match, and Citi Payment Outlier Detection.

Broadridge Announces Acquisition of ClearStructure; Expands Asset Management Technology Suite

U.S.-based fintech Broadridge Financial announced on Wednesday it has acquired ClearStructure Financial Technology, which is a global provider of portfolio management solutions for the private debt markets. According to Broadridge, the acquisition is helping to expand its asset management technology suite.

FintechBroadridge’s SaaS technology powers more than 550 hedge funds, traditional asset managers and fund administrators with a complete front-to-back, multi-asset class solution that simplifies and improves firm trading and operations. As private markets continue to grow and present opportunities for asset managers to find alpha and differentiate themselves, the addition of ClearStructure’s private debt capabilities will create a differentiated solution in the market and enable Broadridge to serve new clients.”

While sharing more details about the acquisition, Eric Bernstein, Broadridge’s Head of Asset Management Solutions, stated:

“ClearStructure’s component services enhance our existing multi-asset class, front-to-back office solution, providing our clients with a unique capability to access the public and private markets. This acquisition aligns to Broadridge’s strategy of providing a true cross-asset platform to enable asset management clients to have a single view into their entire book of business.”

ClearStructure CEO, Scott Turley, went on to add:

“We’re delighted to join Broadridge and to offer expanded portfolio management technology to create optimum investment workflow efficiency for portfolio managers, investment analysts, risk professionals, and operations teams.”

CommonBond Announces New Tech Solution for Financial Institutions “CommonBond Ignite”

CommonBond, an online lending platform servicing the student loan market, announced on Wednesday the launch of CommonBond Ignite, which is described as a tailor-made solution for large financial institutions to acquire the right customers, with the right products, at the right time. According to CommonBond, the platform is a compliance-ready way for financial institutions to acquire and engage Millennial and Gen Z audiences with student loan-based solutions, as an entry point for other meaningful financial relationships.

While sharing more details about the platform, CommonBond CEO and Co-Founder David Klein, stated:

“We have always had an open and collaborative posture with large financial institutions, and we’re excited about the significant momentum and noteworthy results our partners have seen to date. We understand that college loans are the first major financial decision consumers make – if you get that relationship right, then you’ve earned the right to serve that customer over time. We’ve been able to drive meaningful customer acquisition and engagement around multiple financial products at large financial institutions, with the college loan at the core.”

CommonBond also revealed that the launch of CommonBond comes after a significant expansion for the company. CommonBond added:

“CommonBond has forged several strategic partnerships with large companies in the last year to help consumers and employees manage, reduce, and pay down student loans through a series of innovative programs.”

CommonBond expects to launch additional partners onto the platform in 2020.

UK Fitness Marketplace Hussle Quickly Raises £1.3 Million Through Crowdcube Funding Round

Hussle, a UK-based fitness marketplace, has successfully secured more than £1.3 million through its equity crowdfunding campaign on Crowdcube. The platform, which originally sought to raise £1 million, is offering 2.60% in equity at a £50 million pre-money valuation.

Founded in 2009, Hussle describes itself as the UK’s largest gym network that powers the growth of thousands of gyms and health clubs across the country. The platform reported that to date it has generated almost 2.5 million gym visits from half a million people and it has partnered with almost 40% of all gyms, pools, and spas in the UK.

“Each month we add over 10,000 new members. That’s the equivalent of opening 5 new gyms a month. We believe that by making it more convenient to work-out…more people will do it, growing the fitness industry. We are not stopping though. In the last 6-months, we have struck exciting partnership deals with the likes of, Three, Tesco, and Premier Inn to reward & incentivise their customers and this month, we are launching our Corporate Fitness Program.”

Hussle then noted that its mission is to create a globally trusted fitness brand that helps people make life work out. The company further explained:

“To do this we will continue the growth of our brand awareness, expand our Commercial and Corporate partnerships, and broaden the range of physical activities available on our platform.”

Funds from the Crowdcube round will be used to continue the growth and development of Hussle’s platform. It is set to close mid-December.

Crowdcube Alum & Mobile Tech Platform Thyngs Now Seeking £250,000 in Funding on Seedrs

Thyngs, a UK-based mobile technology platform, is now seeking £250,000 through its new equity crowdfunding campaign on Seedrs. This new funding round comes less than two years after Thyngs raised £301,310 through its Crowdcube campaign. The company is offering 4.77% in equity at a £4,992,476 pre-money valuation. 

As previously reported, Thyngs is looking to transform physical objects and locations into smart, connected, experiences that are engaging, rewarding, and memorable. The company has built a secure and affordable for businesses to take advantage of the mobile payments growth and create a sustainable business model in the UK fundraising sector. 

Charities are using our platform to turn collecting boxes, shop windows and even staff into instant mobile donation points, more than covering ongoing costs with the extra income generated through Gift Aid. Global brands are also using it to engage and convert customers directly from marketing, merchandise, packaging, and products.”

Thyngs noted its self-service platform is used by charities, retailers, publishers and re-seller partners to create new services in minutes. Printers and manufacturers embed specially designed hardware, stickers or cards (thyngs) into their existing print production processes with an incremental cost of pennies.

“Customers are able to measure all of the physical world interactions with their audience in real-time, showing unique insights. Thyngs show conversion rates and customer acquisition costs over 10x better than much digital marketing activity. Wasabi, MacMillan, Warner Bros, National Geographic, Royal British Legion, Monster Energy, ANZ Bank already work with Thyngs.”

In regards to what the funds from the Seedrs campaign will be used for, Thyngs added:

“Thyngs has been working with PWC as part of their Raise programme and is actively engaging with a number of Series A VC funds with an aim to raise £3-4 million in early 2020 to significantly scale the business. This smaller investment round is intended to raise enough finance to increase monthly recurring revenues and business KPIs to the level required by most VCs in order that Thyngs can select the right partner to work with the next stage of growth.”

So far, the funding round has raised more than £227,000 from nearly 50 investors. It is set to close later this winter.

Overfunding: We Build Bots Returns to Seedrs & Quickly Secures £250,000 Funding Target

Less than two years after raising £727,820 through its first Seedrs campaign, We Build Bots (IntelAgent) has returned to the equity crowdfunding platform and has already successfully secured its initial 250,000 funding target. The company is currently offering 7.64% in equity at a £3,021,340 pre-money valuation.

As previously reported, We Build Bots has built AI-powered ChatBot platforms for customer service departments by using sentiment analysis, machine learning, and natural language processing so that companies may automate.

Our cloud based analytics dashboard reports key metrics like agent utilisation, first contact resolution, average speed of resolution, chat abandonment rate, customer satisfaction, conversation quality analysis and agent occupancy so clients have complete visibility and control across the contact centre. It also reports on the overall emotion and satisfaction of your customers day by day.”

We Build Bots also describes itself as a GovTech company, creating multi-award winning, AI-Powered automation software for the public sector. The company noted:

“Our core product, IntelAgent, is a cloud-based customer service platform combining bots, voice, AI, and analytics to help the public sector deliver better, faster, more efficient, customer care, and leverage the data they collect. GovTech is changing the way local and central governments engage with citizens. Increasingly, younger, smaller, entrepreneurial startups like us are disrupting the traditional models for delivering public services, offering more agility, creativity and innovation than traditional suppliers.”

We Build Bots then revealed the investment round’s funds will act as a “bridge round” to its Series A funding round, which will take place in 2020. The funds will be used for the following:

  • 2 new developers.
  • 1 new sales.
  • 1 Business Analyst.
  • Legal and deal fees for raise (plus contingency).
  • Increase marketing, esp live events and PR to complement digital activities.

China Rapid Finance Regains Compliance With New York Stock Exchange’s Continued Listing Requirements

China Rapid Finance Limited (NYSE: XRF), one of China’s largest consumer lending marketplaces, announced on Thursday two developments that mark significant progress in regaining compliance with the New York Stock Exchange’s Continued Listing requirements. China Rapid Finance reported that it completed its 2018 financial statement audit and filed its 2018 Annual Report on Form 20-F with the U.S. Securities and Exchange Commission (SEC).

“In addition, the company instructed its Depositary Bank to implement a ratio change for its American Depositary Shares (ADSs). The new ratio will be 10 Class A ordinary shares per one ADS. The company expects the effective date for the ratio change will be on or around December 2, 2019; however, the exact date could change depending on the timing of SEC approval.”

China Rapid Finance also revealed that Dr. Po Wang will now focus on new business development in order to accelerate the Company’s growth and planned return to profitability. As a result, Dr. Wang’s title was changed from Co-CEO to Executive Vice-President, New Ventures. The company added:

“Dr. Wang will remain on the Board as an executive director. A key element of the Company’s recovery plan is to partner with multiple financial services enterprises that can leverage the Company’s “decision-making” technology to better serve their large customer bases.”

Coinbase Card Now Supports Five New Assets & Ten New Countries

Cryptocurrency exchange platform Coinbase announced on Thursday its Coinbase Card now supports five new assets and ten new countries. According to Coinbase, the card is now available in a total of 29 countries, with customers in Bulgaria, Croatia, Denmark, Hungary, Iceland, Liechtenstein, Norway, Poland, Romania, and Sweden being able to spend their crypto balance using a contactless Visa debit card in millions of locations worldwide.

“We’ve also more than doubled the number of assets available to spend — going from 4 to 9. XRP, BAT, REP, ZRX, and XLM wallets can now be used to buy anything from coffee to Christmas shopping. These five new assets join BTC, ETH, BCH, and LTC. Spending crypto as easily as money in your bank account is exactly what Coinbase Card lets you do. But for us, it doesn’t stop there. Spending summaries, combined with our brand new monthly statements feature, make tracking your crypto spend easy.”

Coinbase went on to add that once a Coinbase Card has been requested, customers can spend their crypto through the in-app card, before the contactless Coinbase Card arrives.

PayPal’s Xoom Announces Rollout of Domestic Money Transfer Service in the U.S.

Xoom, PayPal’s international money transfer service, announced on Tuesday it has rolled out its domestic money transfer service in the U.S. Xoom reported that through its collaboration with Walmart and Ria, U.S. citizens may now use its services to send money for cash pick-up typically within minutes to nearly 5,000 locations.

“Xoom’s services potentially benefit more than 44 million foreign-born people in the U.S. who send remittances to family and friends in their home countries. With the introduction of domestic money transfer services, Xoom will now serve even more customers, including more than half of Americans who make domestic person-to-person (P2P) payments.”

Xoom also noted that by using its mobile app or website, consumers will have the ability to send money quickly and securely for cash pick-up at any Walmart or Ria-owned store in the U.S. While sharing more details about the service, Julian King, Xoom’s Vice President and General Manager, stated:

“Many of our customers in the U.S. already send money to loved ones in the country, and they usually prefer that the money is available right away. This rollout reinforces our commitment to make money transfers fast, easy and affordable for everyone, whether they are at home or on-the-go.”

Juan Bianchi, CEO of Euronet’s Money Transfer Segment, went on to add;

“At Ria, we are delighted to further consolidate our relationship with Xoom and Walmart. Our continued partnership is a fine example of how Ria’s technology can serve as an enabler between platforms, offering consumers and partners an added layer of security and compliance screening, in turn facilitating value creation within the Fintech ecosystem.”

Crypto.com Announces New Partnership With Singapore’s Payment Processing Gateway Xfers

Hong Kong-based cryptocurrency platform Crypto.com announced on Wednesday it has formed a new partnership with Xfers, a Singapore-based payment processing gateway, to enable its users to buy and sell crypto in SGD by December 2019. According to Crypto.com, users will be able to instantly buy crypto (including BTC, ETH, LTC, XRP, MCO, CRO) in SGD. 

“By facilitating the purchase and selling of cryptocurrencies with fiat currencies, the partnership further accelerates the adoption of cryptocurrencies in Singapore. Crypto.com also plans to support StraitsX, Xfers’ pilot stablecoin initiative, and XSGD, its Singapore Dollar-backed stablecoin. Crypto.com will offer XSGD as part of Crypto.com Pay, its mobile payment solution enabling instant and zero fees settlement between customers and merchants.”

While sharing more details about the partnership, Tianwei Liu, Co-founder and CEO of Xfers, stated:

“Partnering with a leading platform such as Crypto.com is essential to driving our vision of building an open payments infrastructure for the region. This combined pilot to adopt XSGD for MCO Card top-up and for Crypto.com spend adds to our strong foundation for the initiative, as StraitsX aims to be the common ledger for digital assets and payments- enabling transparency for payments.”

Kris Marszalek, Co-founder and CEO of Crypto.com, went on to add:

“We are pleased to partner with Xfers first to enable crypto purchases in SGD and then on the strategic stablecoin initiatives surrounding StraitsX and XSGD. Both solutions will increase the utility of the Crypto.com platform for our Singapore community.”

Innis & Gunn Now Seeking £3 Million Through Seedrs Funding Round

Less than three years after securing £2.4 million in funding through its Crowdcube round, Scottish brewery Innis & Gunn has launched a new equity crowdfunding campaign, this time on Seedrs. The company is currently seeking £3 million and is offering 1.96% in equity at a £149,750,989 pre-money valuation.

As previously reported, Innis & Gunn has dubbed itself the second-largest craft brewer in the UK and recently opened its first bar-restaurant, The Beer Kitchen, in Edinburgh. Within a matter of six months, the restaurant won the Best New Concept Award in casual dining and the brewery reportedly acquired Perth-based Inveralmond Brewery.

“Since our launch in 2003 Innis & Gunn has led the craft beer movement and become one of the most successful modern craft beer businesses of its time, enjoying 15 years of uninterrupted volume growth. Our beers can be bought in over 30 countries and we have twice won the Queen’s Awards for International Trade. Our beers are amongst the most awarded in the world and Innis & Gunn is one of only a handful of modern, independent beer businesses that have grown beyond 100,000 hectolitres (1 hectolitre = 100 litres) without having been acquired by one of the big brewers. Innis & Gunn is unique and incredibly rare in the world of beer.”

The brewery’s team also noted that since its launch they have dreamed of building a large scale brewery in Edinburgh as well as create a real home for their business, their people, and their community.

“However, building a large scale brewery is expensive so we wanted to ensure that we had enough scale in our business to support the decision. So, for 16 years we brewed with our recipes in other people’s breweries, using our people, materials and yeasts, and instead concentrated on scaling our business and building our brand.”

In regards to what the Seedrs funds will be used for, the Innis & Gunn team added:

“All of your investment will go directly into the construction of a large scale brewery that will forever secure our long-term growth capacity and Innis & Gunn’s future in Edinburgh, and a home for our brand, our staff and our community.”

Since its debut, the Innis & Gunn Seedrs campaign has raised more than £810,000 from nearly 500 investors. It is set to close later this winter.

 

BrewDog Launches New Mini Bond Through Equity Crowdfunding Platform Crowdcube

Crowdfunded brewery company BrewDog has launched its latest mini bond round through the equity crowdfunding platform Crowdcube.

The mini bond comes just a few months after BrewDog USA filed a form 1-A, which indicated its intent to raise capital via Reg A+. As previously reported, the offering circular noted that BrewDog is seeking to secure up to $39 million at a price of $60 per share.

To date, BrewDog has raised more than £69 million through its “Equity for Punks” campaign and the brewery boasts a community of over 105,000 investors, with each becoming brand advocates.

“BrewDog has also has a series of over 90 craft beer bars around the world, with 55 in the UK, including 2 brewpubs in London and Manchester, as well as some as far out as South Korea, Japan, Brazil and Sweden.”

BrewDog reported it now has breweries in their heartland of Scotland, as well as in Columbus, Ohio and Berlin, Germany, with a fourth currently being built in Australia. The brewery is also comprised of Hawkes Cider, BrewDog Distilling Co. and Draft House craft beer pubs, with the company notably driving “independence and craftsmanship” across other alcohol ventures.

“This is BrewDog’s latest bond offering, having successfully funded two in the past. So far, BrewDog [has] raised nearly £74 million from over 125,000 amazing Equity Punk investors around the world. Bonds cost £500 per bond, 1 bond as minimum. 6% gross interest rate paid 50% in cash and 50% in beer.”

BrewDog and Crowdcube then added:

“Investors in the 2015 BrewDog Bond have been given the opportunity to rollover their investment from the 2015 bond into this bond. This means the loan balance that they would have been repaid on redemption will instead be invested in this round and will appear on the pitch progress bar – this will be updated from time to time. Any investment rolled over in this way will be subject to the same terms and conditions as any new bond investment in this round.”

Since its launch, the mini-bond has raised £464,000 from 355 investors. It is set to close at the end of December.

Global Insurtech Cover Genius Secures $10 Million Through Series B Funding Round Led By King River Capital

Global insurtech company Cover Genius announced last week it secured $10 million through its Series B funding round, which was led by King River Capital with participation from Belfer Family, Jasper Tans, Regal Funds Management, and Marinya Capital. Founded in 2014, Cover Genius claims to be one of the fastest-growing insurtechs in the world. The company’s partners notably use its services to sell millions of policies per year in more than 60 countries.

Cover Genius’ award-winning technologies include XCover, a distribution platform providing coverage for any line of insurance in any country, language and currency. XCover was developed after the early success of Rental Cover in the mobility space. Underpinned by our global insurance licensing framework and a capability to make customers central insurance experience, the two platforms protect millions of customers per year. Claims are handled by XClaim, our API for real-time payment of approved claims. It handles tens of thousands of instant claim payments in 90+ currencies via bank transfer, and it also allows partners to choose to remit via store credits, e-wallet and card top-ups.”

Speaking about the investment, Cover Genius CEO and co-founder, Angus McDonald, stated:

“The insurance industry has been held back by legacy systems and a lack of global coordination and customer-centricity for decades. We sought to change that and create simple, yet useful, policies, streamline the claims process and enable the world’s largest online companies to protect their global customers. Customer needs have evolved and today they want protection for a variety of items like sports equipment, pets, electronics, contracting work, jewelry, flight tickets and cars. We are evolving the insurance experience to cover all of the things they care about and purchase online.”

Chris Barter, Partner at King River Capital, added:

“[Cover Genius’] extraordinary growth over the past few years is no surprise when you look at the many friction points for customers that they have resolved and the opportunities they provide for partners to offer protection to all their worldwide customers and increase customer loyalty. We are pleased to support their ongoing growth and continued international expansion.”

UK Fintech Rapyd Launches Singapore Platform to Enable Businesses to go Cashlee

Rapyd, a global Fintech-as-a-service provider, announced last week the launch of its new Singapore platform to enable businesses to go cashless. Rapyd claims that the platform will bring greater convenience to local consumers and businesses, by enabling consumers and businesses to easily make payments electronically, convert cash to electronic payment methods, or receive funds instantly by enabling the following capabilities through a single technical integration:

  • Real-time interbank payments through FAST, PayNow, and PayNow QR
  • Leading digital wallets GrabPay, DBS PayLah!, and OCBC Pay Anyone
  • Accept mobile payment methods powered by FOMO Pay
  • Top consumer wallets and ePayments by Razer
  • International Credit and Debits cards such as Visa and MasterCard
  • Domestic debit payment scheme NETS
  • Kiosk payments via AXS and SAM machines
  • Conversion of cash to electronic payment in stores through SoCash

While sharing more details about the platform, Joel Yarbrough, Vice President for Rapyd in Asia Pacific, stated:

“I am thrilled to be able to bring the Singapore Platform to life for merchants and consumers. Singapore has been a leading payments innovator for years, but as payment options have increased, it hasn’t gotten easier for merchants to offer the full breadth of options to their customers. With the Singapore Platform, we are enabling the most important local payment options in a single package that makes it easy for merchants to offer.”

The platform will also allow consumers and businesses to do the following:

  • Instantly pay for goods using Singapore’s premier “Real-Time” payments platforms: FAST, PayNow, and PayNow QR to easily make payment to an account number, mobile number, NRIC, Unique Entity Number (UEN), or with a QR code
  • Unlock wallet payments: Benefit from the huge growth of popular e-Wallets to pay with any of the leading wallets in Singapore without additional technical work for merchants
  • Make debit card payments anywhere: Receive debit card payments online or at kiosk locations across the island
  • Build a real-time cashless ecosystem for businesses: Using Singapore’s local payment methods integrated with Rapyd Collect and Rapyd Disburse receive funds and pay partners and suppliers instantly
  • Use locally-preferred payments anywhere: Pay for goods overseas with Singapore’s preferred methods via Rapyd’s Global Payments Network in more than 100 countries
  • Improve operational efficiencies: Receive a single financial settlement and benefit from simplified accounting reconciliation regardless of how many payment types the merchant chooses to accept, rather than experiencing high overhead from offering multiple choices.

Yarbrough went on to add:

Singapore is a great market for us because of the progressive regulation by MAS to enable and foster innovation within the digital payments space, and the great network of local partners we have been able to integrate into Rapyd’s Global Payments Network and unlock the benefits of a cashless Singapore for consumers and merchants around the world.”

Pundi X Signs MoU With Borghese Ventures to Enable Blockchain Tech Rollout in Cyprus

Singapore-based Pundi X announced this weekend it has signed a Memorandum of Understanding (MoU) with artificial intelligence firm Borghese Ventures to explore the implementation of blockchain technology for private and public sectors based in Cyprus.

Pundi X reported that with the MoU it and Borghese Ventures will jointly establish a committee to explore and evaluate the feasibility of possible blockchain-related projects that they will roll out to assist Cypriot businesses as well as the government.

“A Cypriot entity will be set up to explore the feasibility of implementing blockchain technology solutions and a blockchain-based payment network across Cyprus powered by Pundi X technology.”

While sharing more details about the collaboration, Joseph Borghese, Founder and CEO of Borghese Ventures, stated:

“When processes in these industries are taken to the blockchain, businesses will have a more secure, more seamless and more straightforward experience. We’re excited to work with Pundi X, bridging blockchain technology between Singapore and Cyprus and implementing these solutions that will have immense benefits for consumers and citizens.”

Zac Cheah, Co-founder and CEO of Pundi X, went onto add:

“By integrating blockchain technology into payments, both customers and retailers can expect a higher level of security and accountability with their transactions. We will be collaborating with Borghese Ventures to onboard more Cypriot retailers into our global payment network in the near future.”

Spanish Neobank Bnext Surpasses £2.6 Million Through Crowdcube Funding Round

Bnext, a Spain-based mobile-first neobank, has successfully secured more than £2.6 million through its equity crowdfunding campaign on Crowdcube. The funding round, which originally sought to raise a minimum of £1 million, was launched just weeks after the digital banking startup raised $25 million through its Series A funding round. 

As previously reported, Bnext offers customized services tailored to individual needs. The mobile banking platform allows its customers to connect their existing bank accounts and aims to facilitate transparent and flexible financial management along with financial and insurance products from partners. 

“Bnext allows you to open an account in less than 3 minutes and receive a debit card in less than 48 hours. With this card, you are able to withdraw money for free anywhere in the world, spend in other currencies without fees (fair use limits apply), and earn points that you can cash out in services like Netflix, Spotify, Cabify or Uber Eats, among others.”

Since its launch in 2018, Bnext has attracted 300,000 customers, who have reportedly spent more than €60 million with their Bnext card every month and have sold 12,000 financial products in the last six months. Bnext claimed that this kind of record makes it the eighth most used finance app in Spain.

Through the initiative, Bnext is offering 3.69% in equity at a £69,282,378 pre-money valuation. Funds from the Crowdcube round will notably be used to continue the bank’s international expansion efforts, as well as increase Bnext’s LTV from users with premium products. The funding round is set to close next week.

nHouse Launches Seedrs Funding Round to Raise Minimum of £400,000

Modular contemporary company nHouse has launched an equity crowdfunding campaign on Seedrs. The funding round comes less than a year after the company raised £302,800 through its previous Crowdcube initiative.  As previously reported, nHouse creates spacious, high-tech, and free “grand design” styled homes in a factory. The company aims to form part of the solution to the UK’s housing problem and is in talks with major developers to supply thousands of homes over the next five years.

“We have created the nHouse for forward-thinking self-builders, volume developers, housing associations, local authorities and other organisations who are looking for a solution to the housing crisis. The nHouse can be set up as a detached house, semi-detached or as a terraced property. It’s available in 3 and 4 bedroom configurations with an optional carport. The nHouse is built using innovative off-site construction techniques and can be delivered and installed on your site quickly and efficiently.”

nHouse noted that over the past three months, it has received an average of 83 incoming sales enquires per month and it has 60 nHouses now in planning, out of planning or about to be submitted to planning – representing a potential more than £13 million revenues. The company has signed an MOU with a major developer for 152 homes to be supplied by nHouse in 2020.

“nHouse has developed a range of 12 properties, from flats and bungalows right up to large six-bed houses, using a variety of construction materials, finishes and specifications as well as optional extras. We have selected our manufacturing partners, worked up the extensive documentation, design and engineering information required and achieved BOPAS accreditation. nHouse have helped to create, and have a 28.3% shareholding, in Click House – a low-cost affordable solution for the entry-level property market.”

Funds from the Seedrs round will be used for the following:

  • Employment of 2 x additional staff (Sales Staff and Project planners) over the next 12 months. (20% of expenditure)
  • Marketing activity (PR and other) to raise awareness further (35%)
  • Developing additional nHouse products via design and prototyping (10%)
  • Research and development work necessary to prepare expenditure plans for the major 2020 raise (5%)
  • Working capital to support sales (30%)