Tag Archives: FIN

PR Newswire

Circle Launches Comprehensive NFT Platform & Marketplace Payments Solution

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Accelerates Mainstream Adoption by Enabling NFT Platforms to Accept Both Traditional and Crypto Payments

Circle unveils plans to support BTC and ETH payments, as well as storage, custody and transfer of NFT assets

BOSTON, March 27, 2021 — Circle, a global financial technology firm that provides payments and treasury infrastructure for internet businesses, today announced a comprehensive payments solution for non-fungible token (NFT) marketplaces and storefronts that enables them to accept credit card and crypto payments alike in order to attract more mainstream audience adoption. Circle today also unveiled forthcoming features that will be made available over the coming months, including support USDC, BTC and ETH payments, NFT custodial services, and yield-generating Circle accounts for NFT market operators.

NFT marketplaces have surged in popularity over the past 12 months, but broad-based mainstream adoption is lagging due to the complexity of payment transactions, which usually require the use of cryptocurrencies. Circle’s NFT solution simplifies buying and selling by enabling platforms to accept credit card payments alongside crypto, all with a seamless user experience. This makes NFT transactions easier by encouraging greater engagement, platform expansion and support for creators worldwide through the marriage of traditional payment rails and leading digital dollar stablecoin USD Coin (USDC).

NFTs have seen a meteoric rise in recent months – as platforms like NBA Top Shot skyrocket in popularity (Top Shot has seen a 400% increase in sales over the past 30 days) and digital art becomes mainstream (iconic auction house Christie’s recently offered the first purely digital artwork with the auction of Beeple’s Everydays for $69M). In February 2021 alone, sales volume across major NFT marketplaces grew nearly 800%, to more than $200M.

"This is not only an important and valuable trend for marketplaces and creators, it represents incredible demand from customers – for collectibles, artwork, moments, and really anything that can be tokenized on the blockchain," said Jeremy Allaire, Circle Co-founder and CEO. "Circle looks forward to supporting the industry – creators, platforms, marketplaces, storefronts and customers – with our solution for enabling a user-friendly, mainstream payments experience with the power of crypto connectivity and USDC."

With Circle’s payments and treasury infrastructure, NFT marketplaces and storefronts can create a seamless user experience for buyers and sellers alike:

  • Build upon Circle’s Payments, Payouts and Digital Dollar Accounts APIs to process transactions and use the Circle Account to maintain a scalable treasury infrastructure on the backend, making platform management easier than ever.
  • Choose to offer traditional and crypto payment options, or abstract crypto entirely from the user – all in service of greater convenience and efficiency alike.

Over the coming months, Circle plans to release a range of features aimed at NFT marketplaces, storefronts and platforms:

  • Support for BTC & ETH payments. NFT markets will be able to easily accept BTC and ETH as payment and payout methods, allowing both crypto HODLers and new mainstream users to pay with fiat and crypto.
  • Storage, Custody and Transfer of NFT assets. Circle’s digital asset account infrastructure and APIs will enable NFT markets and properties to easily store NFT assets with best-in-class digital asset custody services, while also enabling their customers to transfer standard NFTs in and out of their markets and services.
  • Treasury and Yield Services. NFT markets are digital asset native businesses, and with funds and treasury accounts held with Circle, NFT developers can take advantage of Circle’s new high-yield digital dollar accounts*, enabling idle working capital to earn between 4-8% APY on USDC.

These new areas of focus are just the beginning as Circle continues to build and partner with the leading projects, developers and brands that are innovating in the NFT commerce space.

This comes at a time of explosive growth for USDC, whose market cap is more than $10B and has more than doubled in 2021 alone. Dollar stablecoins like USDC have quickly become the preferred currency of NFT marketplaces and storefronts as they offer a convenient funding source for end users as well as the ability to streamline their operations and stay crypto-native as needed. In the future, Circle plans to expand its roadmap by accepting ETH payments as well as providing custody for NFTs.

For more information, contact our team, and read more about our NFT solution here.

About Circle
Circle is a global financial technology firm that enables businesses of all sizes to harness the power of stablecoins and public blockchains for payments, commerce and financial applications worldwide. Circle’s platform has supported over 100 million transactions worth tens of billions of dollars, with nearly 10 million retail customers, over a thousand businesses, while storing and securing more than $5 billion in digital currency assets. Circle is also a principal developer of USD Coin (USDC), which together with Coinbase and the Centre Consortium oversees the standards and protocol for what has become the fastest growing, regulated, fully reserved stablecoin. USDC now stands at more than $10 billion market cap and is adding nearly $300 million net new digital dollars in circulation every week. Today, Circle’s transactional services, business accounts, and platform APIs are giving rise to a new generation of financial services and commerce applications that hold the promise of raising global economic prosperity for all through programmable internet commerce. Learn more at https://circle.com

*Service offered through Circle International Bermuda Limited. Offering subject to business approval, geographical availability, and regulatory authorization, and there is no guarantee that the product will become available in a specific timeframe, or to a specific customer group or geography. Service offered through Circle International Bermuda Limited. It is anticipated that Circle International Bermuda Limited will enter into lending arrangements with one or more institutional borrowers, including Genesis Global Capital, LLC. You should carefully conduct your own investigations and analyses in connection with any participation in this product, including its objectives, risk factors, fees, and expenses and the information set forth in these materials. All prospective participants in the products described herein are advised to consult with their legal, accounting and tax advisers regarding any potential participation. Rates are purely indicative and are subject to change pending availability, approval and market conditions. Additional information is available upon request.

Logo – https://mma.prnasia.com/media2/1220689/Circle_Logo.jpg?p=medium600

Related Links :

http://www.circle.com

https://www.circle.com

PR Newswire

Measurable AI’s transactional data for emerging markets now available via Bloomberg

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Bloomberg Data License clients can now access Measurable AI’s unique e-receipts datasets via Bloomberg Enterprise Access Point

HONG KONG, March 26, 2021 — Blockchain powered alternative data company Measurable AI today announced that its transactional e-receipts dataset offerings are now available as part of an Alternative Data catalog on Bloomberg Enterprise Access Point.

Measurable AI’s transactional data for emerging markets now available via Bloomberg
Measurable AI’s transactional data for emerging markets now available via Bloomberg

Measurable AI now provides two types of datasets via Bloomberg Data License, 1) Granular e-receipts data at item level and 2) Aggregate data in revenue and transaction volume. Both datasets deliver weekly with over three years of historical data.

The Granular E-receipts Dataset features item-level e-receipts data covering 20 tickers out of top mobile apps and games. The E-receipts Aggregate Dataset features e-commerce tickers from the emerging markets, such as Shopee, Lazada, Momoshop, HKTVMall, and MercadoLibre.

Screenshot of Measurable AI data offerings on Bloomberg’s Enterprise Access Point
Screenshot of Measurable AI data offerings on Bloomberg’s Enterprise Access Point

With Measurable AI’s transactional data, Bloomberg Data License clients can access an overview of weekly and monthly sales trends for tickers from Greater China, South East Asia, and Latin America, traditionally difficult to access. The full granularity and complete wallet history of these datasets can also be useful as Data License clients analyze consumer spending behavior, market share change, and item-level product distribution.

As an alternative data company, Measurable AI owns its unique positioning, in addition to its focus on data for the emerging markets, it builds a sustainable ecosystem. Currently, all the e-receipts data from Measurable AI are collected from a series of productivity apps: MailTime, Email Messenger, and RewardMe App. Measurable AI rewards users of these apps for contributing their anonymous data points with cryptocurrency Measurable Data Token (MDT) and leverages blockchain technology for data validation.

Measurable AI Data Value Chain
Measurable AI Data Value Chain

"Our mission at Measurable AI is to empower individuals to share data and impact some of the biggest questions corporates and investors are looking at. Transactional data is exactly the type of data that we are passionate about. It can be extremely helpful when looking at a company’s growth or monitoring market share change across different industries," said Heatherm Huang, co-founder and CEO of Measurable AI.

About Bloomberg Enterprise Access Point

Bloomberg’s Enterprise Access Point is a web-based data marketplace for clients to easily discover and act on Bloomberg data products. It can be used to browse datasets, examine metadata, download and test sample datasets prior to acquisition, and immediately put them to use within an organization. It provides access to Bloomberg’s One Data offering including standardized reference, regulatory, pricing, and quantitative data.

About Measurable AI

Measurable AI, a blockchain powered alternative data provider focusing on transactional e-receipts data for emerging markets. Learn more https://measurable.ai

About Measurable Data Token

Measurable Data Token (MDT) is a decentralized data exchange ecosystem that rewards users for sharing anonymous data points and enables data exchange securely and anonymously on blockchain. Learn more https://mdt.io

PR Newswire

ReneSola Power Announces Fourth Quarter and Full Year 2020 Financial Results

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— Reports Net Profits in Fourth Quarter and Full Year 2020

— Enters 2021 Well-Capitalized for Growth

STAMFORD, Conn., March 26, 2021 — ReneSola Ltd ("ReneSola Power" or the "Company") (www.renesolapower.com) (NYSE: SOL), a leading fully integrated solar project developer, today announced its unaudited financial results for the fourth quarter and full year ended December 31, 2020. ReneSola Power’s fourth quarter and full year 2020 financial results and management commentary can be found by accessing the Company’s shareholder letter on the quarterly results page of the Investor Relations section of ReneSola Power’s website at: http://ir.renesolapower.com.

ReneSola Power will hold a conference call today to discuss results and to provide an update on the business.

Conference Call Details

ReneSola Power’s management will hold a conference call today, March 26, 2021 at 8:30 a.m. U.S. Eastern Time (8:30 p.m. China Standard Time) to discuss financial results. 

Please register in advance to join the conference call using the link provided below and dial in 10 minutes before the call is scheduled to begin. Conference call access information will be provided upon registration.

Participant Online Registration: http://apac.directeventreg.com/registration/event/7836968

A replay of the conference call may be accessed by phone at the following numbers until April 3, 2021. To access the replay, please reference the conference ID 7836968.

Phone Number

Toll-Free Number

United States

+1 (646) 254-3697

+1 (855) 452-5696

Hong Kong

+852 3051-2780

+852 8009-63117

Mainland China

+86 (800) 870-0206

+86 (400) 602-2065

Other International

+61 (2) 8199-0299

A webcast of the conference call will be available on the ReneSola Power website at http://ir.renesolapower.com.

About ReneSola Power

ReneSola Power (NYSE: SOL) is a leading global solar project developer and operator. The Company focuses on solar power project development, construction management and project financing services. With local professional teams in more than 10 countries around the world, the business is spread across a number of regions where the solar power project markets are growing rapidly, and can sustain that growth due to improved clarity around government policies. The Company’s strategy is to pursue high-margin project development opportunities in these profitable and growing markets; specifically, in the U.S. and Europe, where the Company has a market-leading position in several geographies, including Poland, Hungary, Minnesota and New York.

Related Links :

http://www.renesolapower.com

PR Newswire

Drip Capital closes $40M Committed Warehouse Credit Facility from East West Bancorp to facilitate trade finance to small businesses

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PALO ALTO, Calif., March 26, 2021 — Capital, a leading Fintech provider of cross-border trade finance, and East-West Bank (EWB), announce a US$ 40M committed credit facility for the expansion of Drip’s trade finance solutions to small and medium-sized businesses (SMBs).

Drip Capital closes $40M Committed Warehouse Credit Facility from East West Bancorp to facilitate trade finance to small businesses.
Drip Capital closes $40M Committed Warehouse Credit Facility from East West Bancorp to facilitate trade finance to small businesses.

"Drip is growing at a rapid pace and institutional partnerships are a cornerstone of our capital markets strategy. The partnership with East West Bank represents a significant milestone for our Company. It will further accelerate our ability to provide fast and seamless financing to global exporters and importers. We are excited to work with Mark Parsa and the EastWest team as we scale up our operations to service many more customers," said Pushkar Mukewar, Co-Founder and CEO at Drip Capital.

"We are pleased to provide financial support to a global fintech company like Drip Capital to help them achieve their growth plan," said Kristine H. Pfeilsticker, FVP-Relationship Manager of Structured Finance at East West Bank. "We both have extensive experience in cross-border financing and a shared focus on offering innovative solutions to SMBs."

"This new asset-based credit facility provides Drip with considerable incremental financing capacity to help power the next phase of our company’s growth. We are excited to scale our capital markets programs providing unprecedented access to trade finance assets.  Despite the pandemic and resulting dislocation in capital markets, we have been extremely impressed with the execution and solutions-oriented approach by the East West Bank team," said Karl Boog, Head of Capital Markets at Drip Capital.

Drip Capital is a market leader in the global trade finance space. The company offers trade financing solutions in the US and developing markets like India and Mexico by giving their clients access to working capital quickly. Drip works with over 1,500 sellers and buyers spread across 80+ countries. The FinTech firm has financed over US$ 1.2B of international trade since its inception in 2016. 

In the US, Drip provides buyer financing solutions — supply chain finance and inventory finance — to SMB importers, who further cater to the multinationals across the country. The company acts as a strategic financial partner to these SMBs allowing them to effectively manage their cash flows / working capital to accelerate sustainable business growth. 

Drip has raised nearly US$ 200M through venture capital and debt since 2016, including over US$ 45M in equity capital through investors such as Accel Partners, Sequoia Capital, Wing VC, and Y Combinator. 

East West Bancorp is a publicly owned company with total assets over US$ 50B and is traded on the Nasdaq Global Select Market under the symbol "EWBC." The Company’s wholly-owned subsidiary, East West Bank, is one of the largest independent banks headquartered in California and one of the largest minority depository institutions in the United States. The bank provides commercial and consumer banking services that help clients reach further and connect to new opportunities on both sides of the Pacific. East West Bank operates more than 120 locations in key cities in the U.S. and Greater China. The bank’s Structured Finance group provides senior secured lending facilities to specialty finance companies and project finance transactions. For more information about East West Bank, please visit www.eastwestbank.com. 

Media Contact:
Vanita D’souza
Communications Manager at Drip Capital
Mobile Number: +1 650-590-0455
Email: communications@dripcapital.com 
Investor Contact: ir@dripcapital.com 

Photo: https://techent.tv/wp-content/uploads/2021/03/drip-capital-closes-40m-committed-warehouse-credit-facility-from-east-west-bancorp-to-facilitate-trade-finance-to-small-businesses.jpg

PR Newswire

CamLy Group unveils CamLy Platform and CamLyLife as part of its digital ecosystem to provide technological solutions to the world

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LOS ANGELES, March 24, 2021 — CamLy Group, a leading consultancy firm in Vietnam specializing in immigration, real estate, financial investment, has tapped into the technology industry and launched two new startups: CamLy Platform and CamLyLife.

CamLy Platform provides a digital platform which offers a global real estate investment technology marketplace for users while CamLyLife is a business and entertainment platform that offers simulation experiences. These digital platforms pave the way for a digitalized Vietnam and are part of CamLy Group’s digital eco-system that offers digital solutions to the world.

CamLy Platform and CamLyLife joins the global digital revolution to provide technological solutions across industries
CamLy Platform and CamLyLife joins the global digital revolution to provide technological solutions across industries

These two companies are the intellectual products of the Founder of CamLy Group, Ms. Cam Ly Duong, a female leader and pioneer businesswoman in the field of international real estate investment who has raised more than US$500 million for North America Real estate market. In 2020, she was selected as one of the top 25 Global CEOs in the Immigration Consulting Field by Uglobal Immigration Magazine.

"The CamLy Group’s main vision is to offer the world happiness and prosperity through investing in harmony and humanity. We build platforms integrating the world’s most modern technologies to expand our horizons. Applying the "Sharing Economy" mindset to our projects, these platforms are expected to create jobs for the Vietnamese community and around the world. Our goal is to create value for humanity, and at the same time bring Vietnam to the global stage by becoming the first Vietnamese company with a technology product and platform to be listed on the New York Stock Exchange," said Ms. Cam Ly Duong.

Ms. Cam Ly Duong, Founder of CamLy Group
Ms. Cam Ly Duong, Founder of CamLy Group

CamLy Platform highlights the idea of "Sharing and Connecting" through connecting real estate developers around the world, and mobilizing global investment capital quickly and safely.

CamLy Platform aims to create millions of jobs in the global real estate business through one of its schemes – the Global Investment Ambassadors (GIA) programme. The programme trains ambassadors to become an expert in the global real estate investment field and allows them to identify investment opportunities in potential markets. Currently, CamLy platform is operational and has presence in Vietnam, the United States and various Asian countries.

CamLyLife is a global simulation tech platform that is targeting two billion users. Acting as both a business and entertainment app, CamLyLife is a humanistic playground that helps users expand their business, experience new technologies such as Fintech and Blockchain, in a creative, virtual setting.

CamLyLife also boosts users’ online experience by offering a realistic experience virtually. It provides swift transactions, instant data on supply and demand and linking to websites such as AirBnB, Amazon, and other service providers. This app is applicable to different industries including real estate, entertainment, education, and finance.

"2020 had been a challenging year for businesses. With a positive mindset, CamLyGroup has found great growth opportunities through CamLyPlatform and CamLyLife. We will continue to promote our two platforms, bringing a completely new experience to the world and boosting the position of Vietnamese people in the international market. We expect these two platforms to become two unicorn start-up projects and attract investors from all over the world", said Ms. Cam Ly Duong.

Ms. CamLy Duong also aims to increase the brand’s humanitarian efforts, a topic close to her heart. She has long admired Mr. Elon Musk for his intelligence, great vision, and the courage to commit himself to serve humanity. The CamLy Group’s founder strives to follow in Musk’s footsteps and is known for her great love and offers unconditional donations. Ms. CamLy Duong created the CamLy Foundation to carry out volunteer activities and technology will be applied to the foundation to enhance the spirit of volunteerism globally in the future.

About CamLy Group

CamLy Group comprises of a group of leading companies in Vietnam including ImmiCa – is a leading company in the field of US immigration investment consulting EB5 and USHome – a reputable US real estate investment consultancy. Starting in 2019, CamLy Group has begun entering the technology industry and has since launched CamLy Platform and CamLyLife.

PR Newswire

WiMi Hologram Cloud Inc. Announces Pricing of $83.8 million Registered Direct Offering

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BEIJING, March 23, 2021 — WiMi Hologram Cloud Inc. (Nasdaq: WIMI) ("WiMi" or the "Company"), a leading Hologram Augmented Reality ("AR") Technology provider, today announced that it entered into securities purchase agreements with certain institutional investors in connection with a registered direct offering of an aggregate of 11,173,335 units at a purchase price of US$7.50 per unit for a total offering size of approximately US$83.8 million. Each unit consists of one American Depositary Shares (the "ADSs"), each representing two Class B ordinary shares of the Company, and 0.4 warrant to purchase one ADS at an exercise price of US$8.60 per ADS, subject to adjustments. The warrants will be exercisable immediately after the date of issuance (the "Initial Exercise Date") and will expire two years after the Initial Exercise Date.

The closing of the offering is expected to take place on or about March 25, 2021, subject to the satisfaction of customary closing conditions.

FT Global Capital Inc. and The Benchmark Company, LLC, are acting as Exclusive Placement Agents in connection with the offering.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The Company’s securities described above are being offered pursuant to an effective registration statement on Form F-1 (SEC File No. 333-254461), that was previously filed with the Securities and Exchange Commission ("SEC") on March 18, 2021, subsequently amended and declared effective on March 22, 2021, and by means of a prospectus a copy of which has been filed with the SEC and is available on the SEC’s website at www.sec.gov. A copy of the final prospectus relating to the offering may be obtained, when available, by contacting The Benchmark Company, LLC, via email at prospectus@benchmarkcompany.com or at 150 East 58th Street, 17th Floor, New York, New York 10155, United States.

For further details of this transaction, please see the Company’s 6-K to be filed with the SEC.

About WIMI Hologram Cloud Inc.

WiMi Hologram Cloud, Inc.(NASDAQ: WIMI), whose commercial operations began in 2015, is a holographic cloud comprehensive technical solution provider that focuses on professional areas including holographic AR automotive HUD software, 3D holographic pulse LiDAR, head-mounted light field holographic equipment, holographic semiconductor, holographic cloud software, holographic car navigation and others. Its services and holographic AR technologies include holographic AR automotive application, 3D holographic pulse LiDAR technology, holographic vision semiconductor technology, holographic software development, holographic AR advertising technology, holographic AR entertainment technology, holographic ARSDK payment, interactive holographic communication and other holographic AR technologies. For more information, please visit http://ir.wimiar.com.

Safe Harbor / Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. The offering is subject to market and other conditions and there can be no assurance that the offering will be completed or as to the actual size or terms of the offering.  These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Among other things, the business outlook, as well as the Company’s strategic and operational plans, contain forward−looking statements. The Company may also make written or oral forward−looking statements in its periodic reports to the U.S. Securities and Exchange Commission ("SEC") on Forms 20−F and 6−K, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward−looking statement, including but not limited to the following: the Company’s goals and strategies; the Company’s future business development, financial condition and results of operations; the expected growth of the AR holographic industry; and the Company’s expectations regarding demand for and market acceptance of its products and services. Further information regarding these and other risks is included in the Company’s annual report on Form 20-F and current report on Form 6-K and other documents filed with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable laws.

Contacts

WIMI Hologram Cloud Inc.
Email: pr@wimiar.com

ICR, LLC
Jack Wang
Tel: +1 (646) 975-9495
Email: wimi@icrinc.com

PR Newswire

Logiq Partners with Comviva to Offer Digital Wallet and Payment Services to Millions of Mobile Users Across Indonesia

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NEW DELHI and NEW YORK, March 23, 2021 — Logiq, Inc. (OTCQX: LGIQ), a global provider of award-winning eCommerce and fintech solutions, has joined forces with Comviva, a global leader in digital financial solutions, to offer digital wallet and payment services across Indonesia. The services based on  Logiq’s PayLogiq digital wallet will be powered by Comviva’s mobiquity® Pay platform.

Logiq also recently partnered with Yabx, a fintech venture of Comviva to offer credit-based financial services such as cash advance for merchants and ‘buy now, pay later’ (BNPL) options for consumers.

mobiquity® Pay is one of the world’s largest digital wallet solutions, powering over 70 digital financial services across more than 50 countries and will play an essential role in Logiq’s new partnership with Koperasi Mona Santoso Berjaya (KMSB).

Together with KMSB, Logiq is providing micro-lending services to members of Badan Perlayanan Jaminan Sosial Ketenagakerjaan (BPJSTK), the social security agency that provides retirement and pension plans on behalf of Indonesian government entities.

The new micro-lending services will benefit BPJSTK’s 48 million members and 600,000 small-and-medium sized businesses (SMBs). The partnership with Comviva will allow Logiq to extend swift, convenient and secure digital wallet services to BPJSTK members and SMBs.

Using Logiq’s digital wallet, BPJSTK members and SMBs will be able to perform multiple financial transactions quickly and securely, including money transfers, receiving and repaying loans, accessing insurance, buying airtime or data, paying bills or merchants—all on their mobile phone, anytime, anywhere.

"Our partnership with Comviva enables us to provide best-in-class digital wallet services to thousands of individuals and SMBs in Indonesia," said Matthew Brent, Chief Strategy Officer at Logiq. "Digital is quickly becoming the preferred method for transactions, and the global pandemic has only accelerated that transition. By providing digital access to an array of financial services instantly from the convenience of a mobile device, we see our combined platform enhancing the lives of many people, helping to grow their businesses and boosting the country’s economic activity."

Srinivas Nidugondi, COO and EVP of Digital Financial Solutions at Comviva, commented: "Our mobiquity Pay is a feature-rich, scalable and flexible digital wallet platform that has been deployed across five continents. We will bring our global expertise in digital wallets to this deployment with Logiq. The platform will enable Loqiq to accelerate the growth of digital wallets in Indonesia by introducing innovative digital financial services to transform the way Indonesians save, borrow, transfer and make payments."

About Comviva Technologies Limited

Comviva is the global leader in digital solutions catering to The Business of Tomorrows. The company is a subsidiary of Tech Mahindra and a part of the $21 billion Mahindra Group. Its extensive portfolio of solutions spans digital financial services, customer value management, messaging and broadband solution and digital lifestyle services. It enables service providers to enhance customer experience, rationalize costs and accelerate revenue growth. Comviva’s solutions are deployed by over 130 mobile service providers and financial institutions in over 95 countries and enrich the lives of over 2 billion people to deliver a better future. For more information, please visit www.comviva.com

About mobiquity® Pay

Comviva’s mobiquity Pay is a one-stop solution for digital money, e-wallets, and mobile payments. It provides financial services to over 130 million consumers globally and processes more than 7 billion transactions that total more than $130 billion annually.

mobiquity Pay is a holistic platform that serves consumers, service providers and partners, and it facilitates digital payments for all customer segments banked or unbanked through all form factors and modes, including USSD, mobile applications, IVR, Web, QR codes and NFC.

For financially underserved consumers who need a digital wallet, mobiquity Pay offers a stored value account in the form of a prepaid digital wallet. This solution can facilitate multiple financial transactions, including money transfers, bill and merchant payments, salary payments, financial-aid disbursements, business to business payments and more. It also provides access to micro-financial services, like savings, loans and insurance. For banked and carded consumers, mobiquity Pay provides the option to make payment using a credit card, debit card or bank account.

About Logiq

Logiq, Inc. is a U.S.-based leading global provider of eCommerce, mCommerce, and fintech business enablement solutions. Its AppLogiq™ platform-as-a-service enables small-and-medium sized businesses worldwide to easily create and deploy a native mobile app for their business without technical knowledge or background. AppLogiq empowers businesses to reach more customers, increase sales, manage logistics, and promote their products and services in an easy, affordable, and highly efficient way. AppLogiq is offered in 14 languages across 10 countries and three continents, including some of the fastest-growing emerging markets in Southeast Asia.

The company’s subsidiary, DataLogiq, provides a data-driven, end-to-end eCommerce marketing solution for enterprises and major U.S. brands, including Home Advisor, QuinStreet and Sunrun. Its AI-powered LogiqX™ data engine delivers valuable consumer insights that enhance the ROI of online marketing spend. The company’s PayLogiq™ offers mobile payments, and GoLogiq™ offers hyper-local food delivery services. For more information about Logiq, go to Logiq.com.

Forward-Looking Disclaimer

This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. Logiq cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on Logiq’s current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by Logiq or its affiliates that any of its plans or expectations will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in Logiq’s business, including, without limitation: the fitness of Logiq’s products and services for a particular application or market, the successful launch and development of Logiq’s partnership with KMSB, including the related pilot programs, expectations of future events, business trends, financial results, and/or business transactions that may not be consummated or realized, as well as other risks described in Logiq’s prior press releases and in its filings with the Securities and Exchange Commission ("SEC"), including under the heading "Risk Factors" in Logiq’s Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and Logiq undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof. 

mobiquity® is registered trademark in India only.     

For further enquiries, please contact:

Comviva Technologies Ltd.
PR & Corporate Communications
Sundeep Mehta
pr@comviva.com

Logiq Contact
Brent Suen, President
Logiq, Inc.
Email contact

Logiq Media & Investor Contact
Ronald Both or Grant Stude
CMA Investor & Media Relations
Email contact

Logo: https://mma.prnasia.com/media2/995982/Comviva_Logo.jpg?p=medium600

PR Newswire

Alibaba Group’s Daraz Acquires Leading Bangladesh Food Tech Startup HungryNaki to Expand Footprint in South Asia

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  • Alibaba-owned Daraz acquires HungryNaki in a move that welcomes the e-commerce giant into the booming Asian food delivery sector
  • This marks the first full acquisition of a local Bangladesh startup by a global e-commerce company, and allows HungryNaki to scale the hyperlocal delivery scene by tapping into Daraz’s complex infrastructure, technology and resources

DHAKA, Bangladesh, March 18, 2021 — Daraz, a subsidiary of Alibaba Group and Bangladesh’s largest e-commerce marketplace, has announced its acquisition of HungryNaki, the country’s leading homegrown food tech company. This marks the first full acquisition of a local Bangladesh startup by a global e-commerce giant, adding to the overall growth of the Asian startup ecosystem and indicating a shift in confidence towards South Asia, regarding investment and business.

The acquisition was signed with the aim of expanding Daraz’s service offerings across more South Asian markets, while providing HungryNaki with the longstanding expertise and experience in customer service and management that Alibaba Group and Daraz will bring to the table. In order to achieve this, HungryNaki will continue functioning as an independent brand under the group, lending its strong client, customer and logistics network while tapping on Daraz’s sophisticated infrastructure countrywide.

"We aspire to be a one stop solution for all our customers’ needs, and getting into the food delivery business is a natural move. HungryNaki is the pioneer in the food delivery business in Bangladesh with a loyal customer base. We believe, instead of building our own food delivery business from the ground up, acquiring HungryNaki is ideal considering these two factors. We believe, by investing in the infrastructure, technology and human resources, we can take HungryNaki into new heights," said Syed Mostahidal Hoq, Managing Director of Daraz.

A Significant Milestone For South Asia’s Startup Ecosystem and Economy

In recent times, Bangladesh has seen remarkable success in the country’s development and digital transformation, including an above average GDP growth rate of 8%. Contributing to a huge slice of the pie is the hyperlocal food and grocery delivery sector, which is expected to grow to over $5 billion by 2025.

Founded in 2013 by co-founders Ahmad AD, Tausif Ahmad and Sazid Rahman, HungryNaki (to mean "Are you hungry?") is Bangladesh’s first food tech company to introduce on-demand food delivery in under an hour. It has played a monumental role in the evolution of the market, making food delivery accessible to as many people in the country as possible. The rapid expansion of the country and industry, helmed by homegrown technology and startups such as HungryNaki, signifies huge opportunities for South Asia in terms of development, employment and innovation.

"We can definitely say that this is an auspicious moment for all of us because this acquisition by Daraz proves that our e-commerce industry is in an optimistic state. Moreover, this is a positive sign for other local startups, and this kind of acquisition will play a full part in the revival of our economy by expediting positive impacts. We will be working with Daraz to make HungryNaki a formidable player in the market," shared AD Ahmad, CEO and Co-Founder of HungryNaki.

Since its inception, HungryNaki has served more than 500,000 customers and over 4,000 restaurants across Bangladesh’s 5 largest cities, including Dhaka, Chattogram, Sylhet, Cox’s Bazar and Narayanganj. With an investor pool including notable names such as Robintex Group and Asif Rahman, the initially bootstrapped startup had previously raised a total of $2.3 million in funding, including its pre-Series A round and bridge financing, and has since successfully maintained a consistent 76% return user order ratio, which ensures a steady year-on-year growth in revenue of 70-90%.

Being the first food delivery startup in Bangladesh to introduce electric bicycles to its fleet, HungryNaki is also committed to the race towards zero carbon emissions, in order to reduce the company’s carbon footprint and scale in a sustainable manner. Leveraging its existing and new business and partnership networks, including restaurants, cloud kitchens and home kitchen services, HungryNaki will be working towards expanding its reach to over 100 cities, and becoming a crucial player in developing the hyperlocal delivery scene in South Asia.

PR Newswire

FICO Survey: 54% of Indonesians Prefer to Use Digital Channels to Engage with their Bank During Financial Hardship

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Appeal of in-person branch banking fading fast post pandemic

JAKARTA, Indonesia, March 18, 2021 —

Preferred banking customer touchpoints across Asia Pacific - December 2020
Preferred banking customer touchpoints across Asia Pacific – December 2020

Highlights:

  • 54 percent of Indonesian consumers prefer to use digital channels to engage with their bank during financial hardship.
  • 23 percent of Indonesians prefer to communicate via their mobile banking app; 14 percent use telebanking.
  • 35 percent of Indonesians prefer to deal with just one primary bank with a further 39 percent saying that they ‘somewhat agreed’ this was their preference.

A recent survey by global analytics software firm FICO has revealed that 54 percent of Indonesian consumers prefer to use digital channels to engage with their bank during financial hardship. The poll conducted in December 2020, during the height of the global COVID-19 pandemic, demonstrates the willingness of consumers to embrace digital banking and the opportunities that exist for banks to further develop their offering.

More information: https://www.fico.com/en/latest-thinking/market-research/advancing-new-experiences-digital-banking

The high level of smartphone penetration in Indonesia meant that 23 percent of Indonesians preferred to communicate about hardship using their mobile banking app; 14 percent wanted to use phone banking; 8 percent communicated via email; 7 percent preferred internet banking and 3 percent wanted to use virtual conference technology.

"The risk of infection and social distancing requirements made branch visits less appealing last year, accelerating a shift to digital banking channels globally," said Aashish Sharma, risk lifecycle and decision management lead for FICO in Asia Pacific. "Being able to deliver and manage numerous channels in line with customer preference and deliver a seamless and engaging experience is a challenge that is here to stay. Investment in customer management and communication tools that span these channels and product silos and can deliver personalization and improved decision making is key to making digital banking a success."

Customer attitudes to new technology from banks such as debt collection automation can yield some interesting preferences and behaviors.

"It is worth noting that during periods of hardship, some customers prefer to deal with the issue using intelligent, automated online services, such  as  our FICO® Customer Communication Services (CCS) so as to avoid the embarrassment of talking to an agent about outstanding loans. If customers prefer digital channels during times of hardship, their most difficult time, it seems to me we can expect branch banking to continue its decline." explained Sharma.

Importance of maintaining banking relationships

Banks still have a data and relationship advantage when compared to fintech challengers. The survey revealed that across Asia Pacific, one in three consumers preferred to have all their banking needs serviced by one bank. In Indonesia this was slightly higher at 35 percent, with a further 39 percent saying that they ‘somewhat agreed’ they would like to deal with just one primary bank.

"Managing multiple bank accounts or finance products with different lenders can often be a complex, time-consuming and costly process for the average banking customer," said Sharma. "Digital banking users today are looking for greater control and visibility of their financial position."

When asked about their willingness to try a fintech or challenger bank, 28 percent of Indonesians said that they were inclined to consider a competitor with a further 41 percent relatively open to the idea.

"To consolidate and strengthen main bank engagement, lenders need to offer digital banking features that compete with the challengers to ensure the stickiness and viability of long-term customer relationships," added Sharma.

Most appealing reasons to switch banks

When asked about the reasons they would make the switch to a competitor, 52 percent of Indonesian consumers said their number one reason would be to secure improved personalization and controls in their digital banking service. The poll defined this as the ability to view transaction history, update personal details, reset passwords and other such functions. Interestingly, personalization and control was also the top reason for switching across Asia Pacific (31%).

Other top switching drivers across Asia Pacific were; the ability to control a payment card (set transaction limits, lock/unlock); the ability to set up recurring payments; and improved security features such as biometrics and two-factor authentication.

FICO’s Advancing New Experiences in Digital Banking survey was conducted in December 2020 using an online, quantitative poll of 5,000 consumers across ten countries and regions carried out on behalf of FICO by an independent research company. The countries surveyed were Australia, Hong Kong, Indonesia, Malaysia, New Zealand, Philippines, Singapore, Taiwan, Thailand and Vietnam.

About FICO

FICO (NYSE: FICO) powers decisions that help people and businesses around the world prosper. Founded in 1956 and based in Silicon Valley, the company is a pioneer in the use of predictive analytics and data science to improve operational decisions. FICO holds more than 195 US and foreign patents on technologies that increase profitability, customer satisfaction and growth for businesses in financial services, manufacturing, telecommunications, health care, retail and many other industries. Using FICO solutions, businesses in more than 120 countries do everything from protecting 2.6 billion payment cards from fraud, to helping people get credit, to ensuring that millions of airplanes and rental cars are in the right place at the right time.

Learn more at www.fico.com.

Join the conversation on Twitter at @FICOnews_APAC.

FICO is a registered trademark of Fair Isaac Corporation in the US and other countries          

Related Links :

https://www.fico.com

PR Newswire

NexChange Group and Marita Group Co-Host Africa Blockchain Week Virtual Summit to Showcase Continent’s Technological Leapfrog

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HONG KONG, March 17, 2021 — The inaugural Africa Blockchain Week will launch from June 28th to July 1st 2021.

NexChange Group, a blockchain ecosystem and venture builder and MARITA Group, an African conglomerate will combine forces to co-host this Virtual Summit. The event will feature key industry players and decision-makers contributing to regulation, application, investment and education across many African countries.

Juwan Lee, Chairman of NexChange Group: "Africa is the next big move for blockchain. We see not just opportunities in the payment space and financial inclusion, but we see significant institutional involvement."

The new reality has proven technology to be a bridge to a better future. Strong ties between African countries, like the cooperation South-South, encouraged by HRH Mohammed VI go beyond just politics. New economic bridges ensure that Africa is able to bypass certain steps on a technological stair, positioning itself ahead of the global curve. Described by the World Bank and called leapfrogging, it relies strongly on enhanced technologies including blockchain.

Rahhal Boulgoute, Chairman of Marita Group: "Blockchain will revolutionize Africa and provide opportunities for financial inclusion. It is important that we expose blockchain technology in Africa."

The impact is seen on Africa’s financial map. Over the last years, digital banking and mobile payments have proven to be a real-life case study for millions of users, making people’s financial lives better, ensuring inclusion, and changing the game for the unbanked. Banks, enterprises, and entrepreneurs are changing the continent’s destiny, shaping the investment landscape. 

This event backs the efforts of the African regulators to adopt the required regulations to embrace blockchain and become a main global player in the technologies shaping the future. The ambition of the Co-hosts is to make Africa Blockchain Week the key platform for dialogue and networking between all stakeholders in blockchain to transform it into a reality in Africa.

NexChange Group is a venture builder and media platform specializing in Blockchain, FinTech, HealthTech, AI, and Smart Cities.

Marita Group Holding is a global company focused on:

  • turnkey solutions in real estate development, theme parks, smart cities
  • Renewable energy and waste recovery, hydrogen production, electric mobility
  • sustainable agriculture and sustainable development
  • local mining development of natural resources
  • health, medical products, equipment and supplies

For more information, please visit www.africablockchainweek.com or contact: info@nexchange.com, +852 3595 3680.