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5 Questions with Citizen Bank VP of Innovation RJ Sherman

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Fintech

Papa’s Brand New Bag: GoDaddy Unveils Small Business Payments Solution

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Domain registrar and web hosting giant GoDaddy is the latest technology company to unveil its own payment processing solution. Launched this week, GoDaddy Payments enables GoDaddy Websites + Marketing and Managed WordPress WooCommerce customers to conduct their commerce transactions directly via GoDaddy. The firm’s new payments capability comes courtesy of technology and talent gained from its acquisition of Poynt last December.

“GoDaddy is hyper focused on empowering our customers to sell everywhere with a single solution in a seamlessly intuitive experience,” GoDaddy President of Commerce Osama Bedier said. “GoDaddy Payments represents a major step towards centralizing every tool and service a business needs to successfully sell online. Customer feedback has been overwhelmingly positive, and we look forward to accelerating our efforts.”

Bedier founded Poynt in 2013 to reimagine payment terminals into smart, connected devices that power third-party apps and solutions. The company offered a range of point-of-sale hardware and software solutions to facilitate payments, including the its Android-based smart POS terminals and its PoyntOS-powered, third party-terminals. Before being acquired, Poynt handled more than $16 billion in gross merchandise volume a year for its 100,000+ merchant clients.

With more than 20 million customers on its platform, GoDaddy enables individuals and organizations to build professional websites that help them attract customers, and sell their products and services. The company’s new payments offering will give GoDaddy’s ecommerce customers a fast and secure way to manage orders, payments, and refunds. The solution also leverages a single intuitive dashboard that enables customers to manage their payments operations alongside the rest of their other business operations. GoDaddy Payments accepts all major credit and debit cards including Visa, Mastercard, American Express, and Discover, and the company added that GoDaddy Payments would be available for use for in-person, offline shopping later this year, as well.

Headquartered in Scottsdale, Arizona, GoDaddy is a public company with a market capitalization of $14 billion. It trades on the New York Stock Exchange under the ticker GDDY.


Photo by Johan Pérez from Pexels

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Source: https://finovate.com/papas-brand-new-bag-godaddy-unveils-small-business-payments-solution/

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Crowdfunding

Recently Publicly Listed SoFi Receives Higher Price Target on Potential to Challenge Old Banks

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SoFi (NASDAQ:SOFI), a leading Fintech that recently went public in a SPAC deal, has received a positive analyst report due to the company’s potential to disintermediate old financial services firms.

According to multiple reports, Rosenblatt has given SoFi a $30 price target for the Fintech. Shares in SoFi rose on the news and currently trades at around $22/share.

SoFi floated shares earlier this month in a SPAC offering with Chamath Palihapitiya’s Social Capital Hedosophia Holdings Corp. V.  SoFi was valued at $8.65 billion post-money and the deal is expected to provide up to $2.4 billion in cash proceeds, including a PIPE of $1.2 billion, and up to $805 million of cash held in the trust account of Social Capital Hedosophia Holdings Corp. V.

SoFi is a fast-growing digital bank that started as a student loan refinancing platform and has since added a broad portfolio of financial services designed to appeal to a younger generation of consumers who have no interest in queuing up at a bank branch.

SoFi offers both traditional banking services, such as credit and savings accounts, as well as stock trading and access to crypto. Rosenblatt’s premise as to why SoFi should garner a higher valuation is the fact that traditional financial services firms tend to offer fewer services at a higher cost – that is due in part to the need to support unnecessary physical locations and legions of employees. SoFi is not alone in challenging incumbent financial services firms as a battalion of Fintechs are seeking to compete with old banks and disrupt antiquated models with digital services that appeal to a generation that expects modern financial services.

In March 2021, SoFi acquired a small California-based bank thus gaining a banking charter positioning the Fintech to reduce certain costs.

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Source: https://www.crowdfundinsider.com/2021/06/176706-recently-publicly-listed-sofi-receives-higher-price-target-on-potential-to-challenge-old-banks/

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Fintech

Open Finance Startup Finantier Raises Undisclosed 7-Figure Seed Funding

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Finantier, an Indonesian open finance API platform, has raised an undisclosed 7-figure sum in a seed funding round led by Global Founders Capital and East Ventures.

The round was oversubscribed, and funds were raised at a post-money valuation of more than 20 times its pre-seed valuation in November 2020.

Participating in the round were Future Shape, an investment and advisory firm founded by Tony Fadell, the co-inventor of the iPhone, Partech Partners, Taurus Ventures, Saison Capital, and GMO VenturePartners, among other high profile global fintech investors.

Existing investors AC Ventures, Y Combinator, Genesia Ventures, Two Culture Capital and prominent angels also participated. Finantier was part of Y Combinator’s Winter 2021 batch.

Finantier also welcomed Francesco Simoneschi, Co-Founder and CEO of Truelayer as an advisor to strengthen its board.

The fresh funds will go towards scaling and enhancing Finantier’s product offerings, continue its expansion within Indonesia and the region, and double the size of its team.

Since the beginning of the year, the company has expanded its team by more than 5 times to 50 employees, while growing its clients and partnerships by over 50 percent month-on-month.

Edwin Kusuma, Co-founder and COO of Finantier

Edwin Kusuma

“Finantier democratises access to financial services by allowing the millions of unbanked – from roadside warungs (SMEs) to gig economy workers – to benefit from their digital data footprint.

By unlocking access to basic financial services for the unbanked, we are enabling them and their loved ones to lead better lives,”

said Edwin Kusuma, Co-founder and COO of Finantier.

Featured image: Finantier Team

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Source: https://fintechnews.sg/51819/indonesia/open-finance-startup-finantier-raises-undisclosed-7-figure-seed-funding/

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Fintech

Open Finance Startup Finantier Raises Undisclosed 7-Figure Seed Funding

Published

on

Finantier, an Indonesian open finance API platform, has raised an undisclosed 7-figure sum in a seed funding round led by Global Founders Capital and East Ventures.

The round was oversubscribed, and funds were raised at a post-money valuation of more than 20 times its pre-seed valuation in November 2020.

Participating in the round were Future Shape, an investment and advisory firm founded by Tony Fadell, the co-inventor of the iPhone, Partech Partners, Taurus Ventures, Saison Capital, and GMO VenturePartners, among other high profile global fintech investors.

Existing investors AC Ventures, Y Combinator, Genesia Ventures, Two Culture Capital and prominent angels also participated. Finantier was part of Y Combinator’s Winter 2021 batch.

Finantier also welcomed Francesco Simoneschi, Co-Founder and CEO of Truelayer as an advisor to strengthen its board.

The fresh funds will go towards scaling and enhancing Finantier’s product offerings, continue its expansion within Indonesia and the region, and double the size of its team.

Since the beginning of the year, the company has expanded its team by more than 5 times to 50 employees, while growing its clients and partnerships by over 50 percent month-on-month.

Edwin Kusuma, Co-founder and COO of Finantier

Edwin Kusuma

“Finantier democratises access to financial services by allowing the millions of unbanked – from roadside warungs (SMEs) to gig economy workers – to benefit from their digital data footprint.

By unlocking access to basic financial services for the unbanked, we are enabling them and their loved ones to lead better lives,”

said Edwin Kusuma, Co-founder and COO of Finantier.

Featured image: Finantier Team

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Source: https://fintechnews.sg/51819/indonesia/open-finance-startup-finantier-raises-undisclosed-7-figure-seed-funding/

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