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Capstack Technologies Acquires Edge Tradeworks

BusinessWire — Thu, 18 Jul 2024 16:00:31 +0000

Capstack Technologies Inc. (“Capstack”), the leading loan trading platform for financial institutions, announced the acquisition of Edge Tradeworks Inc. (“Edge”), an institutional-grade whole loan-trading and bank analytics platform. Together, the two companies will offer a first-of-its-kind platform that brings whole loan and loan participation trading to financial institutions within a single investment ecosystem.

For financial institutions, diversification, risk mitigation, and access to liquidity are more important than ever. By powering both participation and whole loan trading on one platform, Capstack and Edge have removed all constraints around size and transaction type, providing customers with a marketplace of unlimited opportunities to enhance liquidity and diversification. Capstack now has the highest volume of buyers, sellers and transactions on its platform, offering transparent collaboration and seamless transactions between financial institutions.

“Nothing currently exists that brings both sides of this market together, so we saw a huge opportunity to change that and enhance liquidity for our customers,” said Capstack Founder and CEO, Michal Cieplinski. “By bringing participation and whole loan trading under one roof, we can provide significantly more liquidity and trading volume for both sides of the market.”

Backed by top fintech investors and the world’s largest banks, Capstack leads the way in powering transactions and collaboration between financial institutions by offering a simple, secure and efficient platform for trading participation loans. Edge has served regional and national banks and non-bank financial institutions, including credit funds and credit unions. Their platform uses data analytics tools to allow customers to compare their loan portfolio composition against other institutions and regulatory requirements and then identify buyers and sellers to trade with.

With the acquisition, all types of financial institutions can now access trading opportunities that they wouldn’t previously have had access to. Edge was founded by John Roberts and Hughie Choe, who will join the Capstack leadership team alongside CTO Alex Dorsch. The combined platform already has several hundred million dollars in transaction volume.

“Historically, financial institutions haven’t been able to easily access the trading opportunities that best suit their liquidity needs,” said Edge Co-Founder and CEO, John Roberts. “Capstack offers customers an unparalleled level of liquidity and ability to manage risk from within their loan portfolio, where the bulk of the risk lies.”

In March 2024, Capstack announced a strategic investment from Citi Ventures, the formation of a high-profile advisory board, and the growth of its leadership team with the addition of David McArdle as Head of Banking Relationships and Randy Riffle as Head of Customer & Platform Operations. The acquisition of Edge is a significant milestone for Capstack and reflects a new phase of growth for the company.

“Capstack’s acquisition of Edge is a significant step forward for capital markets liquidity and diversification,” said Logan Allin, Founder and Managing Partner at Fin Capital. “A single platform providing access to both of these critical loan and deposit markets in one place, is a step function improvement to the way that financial institutions of all sizes approach loan trading and collaboration. The combination is a testament to how Michal and the Capstack team are scaling technology that truly helps institutions unlock new paradigms.”

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Cogitate Names Lava Jois as Chief Technology Officer

PRNewswire — Mon, 01 Jul 2024 15:53:36 +0000

Cogitate announces the appointment of Lava Jois as Chief Technology Officer (CTO), reporting to CEO and Co-founder, Arvind Kaushal. Lava will lead the development and implementation of Cogitate’s DigitalEdge Insurance solution suite, spearheading innovations in artificial intelligence, large language models and machine learning, data analytics, and data science. Lava will also oversee information security and infrastructure management.

Jois joined Cogitate in 2021 as Vice President, Enterprise Architect, and had an immediate impact on Cogitate’s product offering. As the chief architect responsible for design and development, he drove the initiative to launch the DigitalEdge Policy V. 2.0 – the cloud-native, multitenant, microservices architected platform hosted on Azure. He has also managed the dev ops practice at Cogitate and facilitated security certifications.

“We are so pleased to offer this well-deserved position to Lava Jois. I have been so impressed with Lava’s entrepreneurial approach to innovation. He has seized opportunities to incorporate AI and data science into our solutions, which align with the needs of our insurance partners. Under his guidance, we have advanced tremendously, and I rely on his competencies and strategic vision to guide us forward,” shared Arvind Kaushal.

Jois brings more than two decades of technology architecture expertise to his new role as CTO at Cogitate. Previous to Cogitate, Jois employed his consultative skillset with Cloud By McKinsey where he guided clients through transformative cloud migration strategies. Jois has also held several technology consulting roles with Fortune 100 companies across the US. Beginning his career as a software developer, he has architected various solutions for B2B, B2C, and SaaS. Jois holds a Bachelor of Engineering from the University of Mysore.

Jois expressed his enthusiasm stating, “As we enter this exciting phase for Cogitate, I am honored to take on the role of CTO. With a commitment to innovation and a focus on collaboration, I look forward to leading our tech vision with passion and purpose. Guided by the visionary leadership of Co-founders Arvind Kaushal and Jacqueline Schaendorf, we will align our technological advancements to enhance the insurance user experience.”

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The Power of Insurtech Partnerships with Channel Partners in Embedded Insurance

Rafael Gallardo — Wed, 26 Jun 2024 12:30:23 +0000

Rafael Gallardo CPO & Co-founder Weecover
The insurance landscape is undergoing a seismic shift, driven by technological advancements and evolving consumer expectations. At the heart of this transformation is insurtech, a vibrant sector breathing new life into an industry often perceived as stodgy and slow to adapt to new technologies. One of the most exciting developments within insurtech is the emergence of embedded insurance—a model that seamlessly integrates insurance products into non-insurance purchase processes. However, the true magic happens when insurtech companies form strategic partnerships with channel partners to deliver these embedded solutions.

The Essence of Embedded Insurance
Embedded insurance, at its core, aims to meet customers where they are, offering them cover at the point of need, without the friction of traditional insurance processes. Imagine purchasing a car online and getting a motor insurance policy bundled into the same transaction. Or booking a holiday and receiving travel insurance as part of the package. These examples illustrate how embedded insurance can provide a frictionless customer experience while enhancing the value proposition of the primary product or service. In essence, embedded insurance is an industry game-changer, where customers no longer seek out the right insurance product, but the product seeks the customer at the point of need.

Leveraging Advanced Technologies
The insurtech companies driving these innovations are leveraging advanced technologies like artificial intelligence, machine learning, big data analytics, and specific tech platforms. These tools enable them to offer personalised, real-time insurance solutions that are not only more convenient but also more relevant to the customer’s specific needs. However, technology alone isn’t enough to revolutionise the insurance industry. This is where the power of strategic partnerships with channel partners comes into play.

The Role of Channel Partners
Channel partners—whether e-commerce platforms, tech manufacturers, or fintechs—hold the key to accessing a vast and diverse customer base. By collaborating with these partners, insurtech firms can embed their insurance offerings directly into the purchasing journey of consumers, effectively meeting them at the point of sale. This not only simplifies the buying process but also enhances the overall customer experience, creating a win-win situation for both the insurance provider and the channel partner.

Building on Existing Trust
One of the key advantages of such partnerships is the ability to tap into the existing trust and relationship that the channel partner has with its customers. Customers are more likely to purchase insurance when it is offered by a trusted entity as part of a broader transaction. This trust transfer can significantly increase the uptake of embedded insurance products, driving growth and scalability for insurtech companies.

Adding Value to Channel Partners
Ultimately, channel partners benefit from offering embedded insurance as it adds value to their primary product or service. It differentiates them in a competitive market by providing an additional layer of convenience and protection to their customers. For instance, an online retailer offering embedded insurance for electronic devices can enhance customer satisfaction and loyalty by ensuring that their purchases are protected from damage or theft. This creates a more comprehensive and appealing customer proposition, separating the retailer from its competitors.

Harnessing the Power of Data
Data is another critical component of these strategic synergies. Insurtech companies excel at using data analytics to understand customer behaviour, predict risks, and tailor insurance solutions accordingly. When they partner with channel partners, they gain access to a wealth of customer data that can be used to further refine and personalise insurance offerings. This data-driven approach not only improves the accuracy and relevance of insurance products but also helps in identifying new opportunities for innovation and growth.

Navigating Challenges
However, these partnerships are not without challenges. Aligning the interests of insurtech firms and channel partners can be complex, requiring careful negotiation and collaboration. Both parties must be committed to a shared vision of enhancing customer experience and delivering value. Additionally, regulatory compliance is a significant consideration, as embedded insurance models must adhere to stringent insurance regulations in different jurisdictions.

The Future of Insurance
Despite these challenges, the potential benefits of strategic synergies between insurtech companies and channel partners are immense. As the insurance industry continues to evolve, these partnerships will play a crucial role in shaping the future of insurance. By leveraging the strengths of both insurtech innovations and established customer relationships, embedded insurance can deliver unprecedented value and convenience to consumers.

Conclusion
In conclusion, the power of insurtech partnerships with channel partners in embedded insurance lies in their ability to seamlessly integrate insurance into everyday transactions, enhancing the customer experience and driving growth for both insurers and their partners. As these partnerships continue to develop and mature, they will unlock new possibilities and set the stage for a more dynamic, customer-centric insurance industry.

The future of insurance is not just about protection—it’s about convenience, relevance, and strategic synergy. And that future is being built today, one partnership at a time. Collaborations with fintech companies like BNPL services and neobanks are revolutionising how insurance products are distributed and accessed, ensuring they are more convenient and relevant to modern consumers.

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Rafael Gallardo, CDO & Co-founder Weecover

Rafael Gallardo is an expert in digital business, product, and the entire ecosystem surrounding the internet era, a sector in which he has developed his professional career since 1996. Gallardo has held senior positions in Digital Management at companies such as Zurich Spain and Credit Suisse. He has collaborated on digital strategy for prestigious companies like Mercedes-Benz, L'Oréal, Telefónica, Grupo Prisa, RTVE, etc. Additionally, he has consolidated his expertise in digital business by serving for 7 years as Chief Digital Officer on the board of directors of Grupo Océano. An Executive MBA from EAE, he has always defended and specialized in the executive bridge position between technology and business, seeking full synergy between both as the only path to successful digital business.

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Deluxe Named to Business Transformation 150 List

BusinessWire — Fri, 14 Jun 2024 17:30:55 +0000

Deluxe, a modern Payments and Data company, announced it has been recognized as part of the Business Transformation 150 (BT150) list, compiled by Constellation Research. The list specifically includes Yogaraj “Yogs” Jayaprakasam, SVP and Chief Technology and Digital Officer at Deluxe, as a key leader who “demonstrates a comprehensive understanding of how the world is responding to disruptive forces and how technology can be leveraged for future innovation.”

Deluxe continues to receive recognition for its ongoing transformation, putting technology and digital-first solutions at the forefront of its offerings. The BT150 recognition comes on the heels of other national recognition for Jayaprakasam and Deluxe, including being named a CIO 100 Award winner and one of America’s Most Trustworthy Companies by Newsweek for the third consecutive year.

“Inclusion on this list is further testament to our efforts to put technology at the core of the Deluxe offering,” said Jayaprakasam. “Technology and innovation have fueled our transformation from a legacy printing and manufacturing company to the modern digital payments and data analytics provider we are today. I am honored to be included among so many gifted leaders to represent our team’s incredible work, and excited for the future for Deluxe and our customers.”

The BT150 is an elite list that recognizes the world’s most influential executives and their innovative application of technology to drive business transformation across a variety of industries, including financial services. Nominations from peers, industry influencers, technology vendors and analysts power the selection process each year.

“The leaders listed on the BT150 have not only shown why every organization is now a tech company, but also why every organization needs digital leadership in the executive ranks,” noted R “Ray” Wang, Founder and CEO at Constellation Research.

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FinTech Interview with Ali Hamriti, Co- founder and CEO of Rollee

FTB News Desk — Fri, 17 May 2024 13:30:01 +0000

Uncover strategies to tackle financial challenges for gig workers. Explore innovative solutions for enhanced financial inclusion, from flexible banking to tailored credit access.

Ali Hamriti, CEO and co-founder of Rollee

Greetings Ali, we’re delighted to have you for this interview, Could you please share with us your professional journey and how you came to co-found Rollee?
Thanks for inviting me, it’s great to be here. I’m a former data scientist, and in the past I was responsible for creating a credit score engine to assess independent workers. During my research I noticed that the data necessary for this project was scattered across hundreds of different data sources, making it very complex to address this growing part of the population. This gave me the idea to found Rollee and make it easier for financial institutions to assess independent workers with a fair credit rating.

In your experience, what key obstacles do traditional banks face when it comes to serving gig workers with their risk assessment and application processes?
In my experience, traditional banks face several key obstacles when serving gig workers, particularly in risk assessment and application processes. First, the variable and unpredictable income of gig workers complicates standard credit and risk assessment models that banks traditionally use, which often rely on consistent income streams to forecast creditworthiness. Second, the lack of formal employment documentation in gig work poses a challenge in the application process, as traditional banks typically require extensive paperwork and proof of income stability. Lastly, the rapid pace of change in the gig economy can outstrip the banks’ ability to adapt their processes and products quickly, leading to a gap in service to this segment. Addressing these challenges requires a shift towards more flexible and innovative banking solutions tailored to the needs of gig workers.

As the CEO of Rollee, what strategies have you employed to address the challenges faced by gig workers in accessing financial services?
Our research found that xx% of gig workers have been denied a load, despite having affordability.
Our strategies to address the financial service challenges faced by gig workers center on leveraging technology to enhance data accessibility and reliability. We’ve developed advanced APIs that allow gig workers to aggregate and share their income data with financial institutions. This has facilitated smoother income verification processes, which are often a barrier for gig workers seeking loans or credit. Additionally, we supplement our technology to company who create tailored financial products that account for the variable income patterns typical in gig work. Our focus is on making financial inclusion a reality for gig workers by providing tools that ensure their financial profiles are comprehensively and accurately represented.

How do you see the gig economy evolving in the context of a recession, and what opportunities does it present for banks in terms of offering financial products to gig workers?
In the context of a recession, the gig economy is likely to expand as more individuals seek flexible work options to supplement their income.
This shift presents a significant opportunity for banks to design financial products specifically geared towards gig workers, who may face more financial variability. Financial institutions can offer innovative solutions such as flexible savings plans, emergency credit lines, and insurance products tailored to the unique risks and cash flow patterns of gig workers. Additionally, banks can utilise advanced data analytics to better understand and predict the financial needs of this growing workforce, enabling them to offer more personalised and timely financial support.

From your perspective, what lessons can traditional banks learn from the agility and adaptability of fintech firms in catering to the needs of gig workers?
I believe traditional banks can learn a great deal from the commitment and adaptability of fintech firms in serving gig workers. Firstly, the commitment to rapidly develop and deploy new technology tailored to the unique needs of these workers is crucial. Fintechs often excel in using alternative data & analytics insights to understand and predict customer needs, enabling a holistic overview of their customers finances. Secondly, embracing a customer-centric approach that values flexibility in product offerings and communication can make a significant difference. Traditional banks should look to integrate these elements into their operations to remain competitive and relevant in the evolving financial landscape.

What specific innovations or technologies do you believe traditional banks should adopt or develop to better serve gig workers and adapt to the changing landscape of the gig economy?
Traditional banks should focus on adopting and developing technologies that enhance flexibility and accessibility, crucial for serving gig workers effectively. Key innovations might include dynamic infrastructure platforms that integrate seamlessly with various gig economy marketplaces for real-time income tracking and verification, therefore increasing their acceptance rate with verified and up-to-date income data points. These technologies not only cater to the needs of gig workers but also help banks stay relevant in a rapidly evolving economy.
The key developments banks can make is to update their infrastructure tools and therefore increase their acceptance rate due to verified, updated income data points.

In your opinion, what role can collaboration between fintech firms like Rollee and traditional banks play in addressing the financial needs of gig workers more effectively?
By combining Rollee’s infrastructure and access to gig economy data with the regulatory framework of traditional banks, these partnerships can lead to innovative financial products tailored for gig workers. Such collaborations can improve access to credit, streamline income verification processes, and offer more flexible banking solutions that adjust to the fluctuating incomes typical of gig work. Ultimately, this cooperative approach can drive greater financial inclusion and stability for this growing segment of the workforce.

Could you share any success stories or case studies where Rollee has successfully facilitated financial inclusion for gig workers, despite the challenges posed by traditional banking systems?
Rollee has made significant strides in promoting financial inclusion for gig workers. One notable success story involves a platform that integrated Rollee’s API to streamline income verification processes for gig workers. This integration allowed workers to swiftly and securely share their income data with financial institutions, leading to a higher acceptance rate for loans and credit applications.
Another case saw Rollee helping gig workers consolidate their financial data from various platforms into one accessible report, enhancing their ability to manage finances and prove income stability.

These case studies highlight Rollee’s role in overcoming traditional banking barriers and enabling fair access to financial services for gig workers. We’re going one step ahead with our AI-driven models to help financial institutions reduce their default events.

What personal advice would you offer to gig workers who may be struggling to access traditional banking services or financial products?
For gig workers facing challenges with traditional banking services, I recommend exploring digital banks and financial technology platforms. I see an emergence of young companies who specialise in addressing a diverse workforce: lending for gig workers, earned wage access, benefits for freelancers… These often offer more flexible options and easier access compared to traditional banks. Always stay informed about all available options and choose services that best suit your needs.

Finally, what are your thoughts on the future of banking in relation to the gig economy, and what steps do you believe banks should take to embrace this growing segment of the workforce?
The future of banking in relation to the gig economy appears increasingly digital and inclusive. Banks should adapt by offering more flexible banking solutions that accommodate the variable income patterns of gig workers. Implementing innovative technology to simplify the application processes and improve access to financial services can also be a game-changer. Additionally, implementing new data infrastructures could facilitate better financial products directly tailored to the needs of gig workers. Embracing these changes will not only help banks stay relevant but also support the financial stability of a significant and growing segment of the workforce.

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Navigating the Future: A Guide to Designing Exceptional Payment Products

Skyler Nesheim — Wed, 20 Dec 2023 12:30:46 +0000

In the ever-evolving world of fintech, where digital transactions are the new frontier, the growth of payment products is fueled by their design. After spending more than a decade building a leading fintech company specializing in account-to-account payments, we have identified the core elements of outstanding payment products. Our focus on these elements has allowed us to continuously improve our offerings. Let’s explore the intricacies of designing seamless payment solutions, delving into the aspects that support businesses as we digitally transform the way we move money.

1. Deep Knowledge of the Customer
The foundation of any exceptional payment product lies in a deep understanding of customer behavior and preferences. Tailoring the product to align with specific user needs ensures a seamless and intuitive payment experience. As a CTO, investing in data analytics and user research is paramount. By leveraging customer insights, you can fine-tune the product to cater to evolving user expectations, ultimately enhancing user satisfaction and loyalty.

2. Embeddable Systems: Seamlessly Integrating into Our Digital Landscape
The future of payment products relies on their ability to seamlessly integrate into various platforms, especially in our ever-expanding world of open finance. An embeddable system is indispensable for the modern user who demands convenience and efficiency. Payments leaders must focus on building APIs that effortlessly integrate with third-party applications which can enhance payment solutions with additional data that is critical for making financial decisions. This not only expands the product’s reach but also positions it as a versatile solution capable of adapting to the intricate technological landscape.

3. Robust Reporting and Reconciliation Capabilities
Behind every successful payment product is a robust back-office operation. Strong reporting and reconciliation capabilities not only enhance transparency but also streamline business processes, ensuring the seamless flow of transactions. Implementing advanced data analytics and reconciliation algorithms is essential for identifying discrepancies, minimizing errors, and maintaining the integrity of financial data.

4. Autonomous Systems: Paving the Way for Effortless Transactions
Autonomous systems represent the next frontier in payment product design. Envisioning a payment utopia where transactions are swift, secure and seamlessly integrated into daily life, you must actively contribute to this evolution by reducing the burden to build and maintain systems. Developers and platform businesses can provide an excellent source of feedback and ideas where your payment solution is applicable. Consider a wide array of applications, from e-commerce platforms to mobile wallets. By embracing autonomy, you position your product to not just meet but exceed the expectations of a rapidly advancing digital era.

5. The Path to the Payment Utopia: Prioritizing Security Practices
To achieve the envisioned payment utopia, stringent security practices and principles are non-negotiable. Implementing sophisticated mechanisms to detect and prevent fraud is paramount. The next generation of payment solutions will leverage cutting-edge technologies such as biometric authentication, encryption and anomaly detection to fortify the security posture. Ensuring the safety of every transaction not only protects users but also instills confidence in the product.

Whether you’re a CTO or just starting out in the world of fintech, thinking about how these elements factor into your work is crucial for the future of payments products. It is just as important for people on the dev team and those on the marketing team to consider how to navigate the intricate balance between user experience, security and innovation. By understanding and prioritizing these core elements, businesses can pave the way for a future where payments are effortless, secure and seamlessly interwoven into our daily lives. As the architect behind these advancements, embrace the challenge and shape the future of account-to-account payment products.

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Skyler Nesheim, Chief Technology Officer at Dwolla

Skyler Nesheim is the Chief Technology Officer at Dwolla, where he oversees all product management and technology functions. With over a decade of experience at Dwolla, Nesheim has been instrumental in shaping the company's trajectory. Nesheim's leadership has led to the release of disruptive technologies in fintech, making Dwolla a prominent player in the industry. He holds a BS in Computer Science from Drake University and is passionate about sophisticated and seamless payment solutions.

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Qarar and Biz2X announced strategic joint venture

BusinessWire — Wed, 30 Aug 2023 16:00:21 +0000

Qarar, a wholly owned subsidiary of SIMAH and the Middle East’s prominent data analytics and credit decisioning company, and Biz2X, a global fintech technology and financing provider with an established presence in the USA, India and Australia and over $10 billion USD funded through its Biz2X®digital lending platform, today announced a strategic joint venture that aims to revolutionize the landscape of SME lending in Saudi Arabia.

The primary objective of the partnership agreement is to bridge the financing gap faced by SMEs. Qarar and Biz2X are creating the largest SME lending platform in Saudi Arabia with a streamlined digital experience that empowers SME borrowers and lenders to transact seamlessly. Lenders will also have the ability through the platform to create their own lending marketplaces, further enhancing their financial offerings to the SME sector. The companies invite lenders to contact them for early access to the platform.

The joint venture will be a major contributor to the Saudi Vision 2030 and is aligned to the Kingdom’s goal to significantly expand the SME sector to 22% of GDP, a substantial increase from its current contribution of 9% of GDP. Historically, up to 57% of SME financing requests were declined annually by commercial banks, which have been reluctant to issue loans to SMEs at scale.

Leveraging the award-winning Biz2X technology, the new platform will transform the SME lending process to fix this financing gap. Biz2X equips lenders with the necessary tools and resources to offer tailored and competitive SME loan solutions, resulting in faster and easier access to finance. The Qarar-Biz2X partnership enhances the overall efficiency of the SME lending market, benefiting both borrowers and lenders alike.

Zaid Kamhawi, CEO of Qarar, expressed his enthusiasm for the collaboration, stating, “We are excited to partner with Biz2X to support the development of the SME sector in Saudi Arabia. This partnership knits together our combined technical expertise, established international success, and on-the-ground market presence. Together, we are offering a powerful and proven platform that will help transform the SME lending market in Saudi Arabia. We applaud the Saudi Vision 2030 and are delighted to be contributing to the ambitious fintech initiatives throughout the Kingdom.”

Rohit Arora, CEO of Biz2X, added, “Our partnership with Qarar reflects the financing expertise and advanced technology that the Biz2X® platform delivers. By bringing our technology and expertise to lenders in Saudi Arabia we are fulfilling our mission to make SME lending more accessible and efficient for businesses everywhere, fostering economic growth and prosperity.”

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GoLogiq to acquire all of Fram Venture 7 AB

GlobeNewswire — Mon, 21 Aug 2023 14:30:25 +0000

GoLogiq, Inc, a U.S.-based global provider of fintech and consumer data analytics, has signed a non-binding letter of intent to acquire all of Fram Venture 7 AB, a Swedish fintech corporation, for US$6 million in an all-stock transaction. Total consideration could increase to US$20 million depending upon the achievement of certain earn-out targets.

The acquisition includes all of Fram Venture 7’s equity interest in its wholly-owned subsidiary, DragonLend, a lending platform for profitable small and medium-sized enterprises (SME) in Vietnam. The acquisition is expected to complement GoLogiq’s existing fintech ecosystem, which encompasses a range of financial services, from payroll services to retirement investing.

DragonLend provides short-term (three to six months) working capital finance solutions to profitable Vietnamese SMEs. Although SMEs are critical to Vietnam’s economy, generating 40% of gross domestic product (GDP) and 50% of jobs, they are having challenges accessing finance, with approximately 62% of total SME financing needs unmet, according to a press release from IFC. IFC estimates Vietnam’s financing gap for SMEs is approximately US$21.7 billion.

DragonLend is addressing this opportunity by offering businesses fairer, faster and easier access to short-term working capital for fuelling their growth. Through the application of its proprietary risk model and working closely with its clients, DragonLend can issue finance solutions in a matter of days versus weeks or months as is typical of more traditional lending institutions. DragonLend’s vision is to become Vietnam’s most trusted and reliable working capital provider for profitable SMEs.

DragonLend was founded in 2019 and issued its first loan in 2020. Despite substantial Covid-19 restrictions and a challenging business climate, DragonLend has disbursed close to US$9 million since 2020, and plans to serve thousands of SMEs countrywide in the coming years with flexible product offerings and best-in-breed client service. DragonLend clients are primarily engaged in various supply chain verticals, such as manufacturing, wholesale and distribution.

The team behind DragonLend are experienced builders of companies in frontier markets. They are from the Swedish-Vietnamese investment group Fram Skandinavien (NASDAQ First North: FRAM B). This includes Fram Venture 7’s chairman, Christopher Beselin, who founded and previously served as CEO of Lazada Vietnam. Lazada Group was sold to Alibaba for US$3.5 billion.

“We believe market conditions are perfect for DragonLend to rapidly scale its SME lending platform in Vietnam, especially given how the country’s small business sector has been experiencing strong economic growth,” stated DragonLend CEO, Max Bergman. “We now have assembled years of valuable data for our credit scoring model, which can rely on for driving profitable growth.”

GoLogiq CEO, Granger Whitelaw, commented: “The acquisition of DragonLend would further our expansion into Vietnam with a proven business lending service that is highly complementary to our fintech ecosystem. We see its scalable platform enabling us to expand into other emerging markets across Southeast Asia, such as Singapore and Thailand.”

According to the World Bank, an estimated 65 million or 40% of MSMEs in developing countries have an unmet financing need of US$5.2 trillion annually, which is equivalent to 1.4 times the current level of global MSME lending.

Additional Proposed Transaction Details
Under the terms of the letter of intent, GoLogiq will acquire 100% of Fram Venture 7 and secure employment agreements with management. The company anticipates closing the transaction in September.

While GoLogiq expects the transaction to be completed as anticipated, a definitive agreement has yet to be signed and no assurances can be given it will be executed or the transaction will be completed as described. When such a definitive agreement would be mutually signed, the details would be made available in a Form 8-K to be filed with U.S. Securities and Exchange Commission on www.sec.gov as well as on the investor section of GoLogiq’s website.

GoLogiq’s recently announced a sale of its fintech assets to Recruiter.com Group (NASDAQ:RCRT) (NASDAQ:RCRTW) (“Recruiter”), a recruiting solutions provider. If such sale is consummated prior to the closing date of GoLogiq’s acquisition of Fram Venture 7, GoLogiq intends to assign its rights in its purchase agreement to Recruiter, whereupon Fram Venture 7 would become a subsidiary of Recruiter.

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GoLogiq Appoints Granger Whitelaw, as CEO

GlobeNewswire — Thu, 13 Jul 2023 17:34:01 +0000

GoLogiq, Inc, a U.S.-based global provider of fintech and consumer data analytics, has appointed company director, Granger Whitelaw, as chief executive officer. He succeeds interim CEO Brent Suen who will remain chairman of the board. Whitelaw will continue to serve as a member of the company’s board of directors as well as chairman of GoLogiq’s Asia Pacific Committee.

As CEO, Whitelaw will oversee GoLogiq’s recently acquired GammaRey subsidiary and help lead the company’s global expansion through further strategic acquisitions and product development. GammaRey brought to GoLogiq a financial assets management business with approximately $800 million under advisement, as well as a pipeline of prospective acquisitions.

Whitelaw brings to GoLogiq over 30 years of executive experience in finance, operations, sales, marketing, M&A, corporate governance and business development. He has successfully built and advised multiple businesses across several industries, including media, aviation, racing, entertainment, software, technology, consumer products and real estate, both in the U.S. and internationally. He has raised over $3.4 billion for business projects, and has helped lead numerous mergers, acquisitions, public offerings and private equity financings.

“Granger is an extraordinary innovator and visionary leader who has guided many companies to their highest potential,” noted Suen. “His skills and experience in capital raising, M&A, and technology-driven innovations align perfectly with GoLogiq’s new growth strategy. We’re excited that Granger has assumed the responsibilities of this important CEO position and look forward to an exciting future under his new leadership.”

GoLogiq’s recently announced a sale of its fintech assets to Recruiter.com Group (NASDAQ:RCRT) (NASDAQ:RCRTW), a recruiting solutions provider. Given GoLogiq’s new focus on asset management that was created by the GammaRey acquisition, the board of GoLogiq believes the transaction with Recuiter.com will create greater shareholder value versus maintaining the Fintech assets itself. It enables GoLogiq to become a pure play wealth management company with a more clearly definable market valuation, and has helped attract key new management to senior executive positions.

“This is no doubt a very exciting time for GoLogiq as it completes these transformative M&A transactions that add tremendous value to shareholders and a renewed focus,” commented Whitelaw. “I believe in the power of technology to transform industries, and this will be the future for GoLogiq as we work to take its strong base of financial services to a whole new level.”

Granger Whitelaw Bio
Over the last several years, Whitelaw has worked for The Vietnam Group, a business advisory and consulting firm based in Ho Chi Minh City that provides supply chain, financial, governmental and digital services.

Whitelaw is the founder and CEO of the Raybar Group, a global management consulting agency that includes subsidiary companies such as The Vietnam Group, Transpacific Media, Pharmacy Advisors Limited, ParaStem Health, as well as the Lotus Talks podcast.

He is a founding benefactor of the XPrize Foundation and the co-founder and CEO of the Rocket Racing League, where he led the development of software, gaming platforms, and aeronautic technology development. Investors and partners have included Elon Musk, Jeff Bezos, Dr. Bob Hariri, Peter Diamandis, Bill Koch, The Thyssen Family and others.

He founded EBS Ltd in Bermuda, an early SaaS software company where he authored the world’s first law for e-commerce digital signatures and settlement. This law has helped establish the legal framework for online commerce used worldwide today.

He also served as EVP of CoreCommerce, a leading SaaS eCommerce platform acquired in 2016 by a group of entrepreneurs and business executives. He is a founding partner of TrendSphere, a Think Tank for CIOs. Whitelaw also earlier served as banker at a leading investment bank, Cowan Financial Group, in New York City.

Whitelaw serves on the board of directors for BZani Animation. He served on the board of directors of Coffee Masters, Vemics, 360 Global Wine Co, and TRG International. He also served as chairman of the board for Benfe Motors, an electric motorcycle manufacturer and distributor in Southeast Asia.

As an avid philanthropist, Whitelaw has founded several organizations aimed at making a difference in the world. This includes the Amber Development Group for the Amber Alert program, a technology platform that helps to locate missing children.

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Earnest Analytics launches Vela Valorum

PRNewswire — Wed, 05 Jul 2023 18:00:10 +0000

Earnest Analytics (FKA Earnest Research), the leading data analytics firm for investors, companies, and consulting firms, has launched an enhanced transaction data panel derived from their Vela dataset called Vela Velorum. This panel incorporates new debit card data, increasing the total number of accounts from ~66 million to ~100 million.

Vela Velorum data begins in 2018. The dataset incorporates the same credit card data available in the existing panel, now called Vela Gamma, which begins in 2016.

he Vela Velorum transaction dataset is currently available via S3, Snowflake, and BigQuery. It will also be available in Dash, Earnest’s proprietary web-based analytics platform, in the near future.

“Vela Velorum is a meaningful addition to Earnest’s growing suite of credit card, pricing, CPG, and healthcare data. This larger panel provides unparalleled sample sizes, allowing decision-makers to get the most accurate pulse on consumer behavior down to the city level.”
-Natalie Beden, Senior Product Manager

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