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Hong Kong Insurtech Enters Austria

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Hong Kong based insurtech company bolttech announced its expansion to Austria with the launch of its partnership with leading local telecommunications operator, Drei.

The partnership will bring bolttech’s device protection to Drei’s customers around the country, beginning with a mobile phone switch service “Drei Direkttausch”, the first non-insurance switch programme in the country.

bolttech’s Austria entry increases its presence to 12 markets across three continents, with its device protection offering now present in Austria, Hong Kong, India, Indonesia, Italy, Malaysia, the Philippines, and Vietnam.

bolttech’s device protection is one of its four key capabilities in addition to its digital brokerage, technology and digital general insurance offerings – delivering fast and easy device protection through repair and delivery services, switch programmes, trade-ins and technical support to protect customers’ electronic devices for an uninterrupted digital lifestyle.

Rob Schimek

Rob Schimek

Rob Schimek, Group Chief Executive Officer of bolttech, said,

“I’m thrilled that the launch in Austria brings bolttech to 12 markets around the world. Our business is continuing to grow faster than ever with new partnerships forged as well as key product launches. This expansion comes as we look ahead to take our technology-enabled insurance and protection ecosystem into new markets with valued partners and to connect customers around the world with more ways to protect the things they value.”

Rudolf Schrefl

Rudolf Schrefl

Rudolf Schrefl, Chief Commercial Officer at Drei said,

“We are excited to partner with bolttech to introduce Austria’s first flexible handset swap programme. Another step towards improving our customer experience and delivering easy solutions to meet their essential service requirements. Together we will provide Drei customers with new and innovative ways to protect their smartphones.”

Elsewhere in Europe, bolttech device protection brought its switch programme to WINDTRE customers in Italy in late 2019. bolttech will also launch its brokerage offering in Italy in the coming months, connecting insurance providers with individual and corporate customers to offer digital insurance products quickly and seamlessly.

Featured image credit: Unsplash

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Source: https://fintechnews.ch/fintechaustria/bolttech-insurtech-austria/37160/

Crowdfunding

AvidXchange Announces New “Tech Rising” Initiative to Remove Barriers to Technology Education

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AvidXchange, a U.S. fintech that provides accounts payable and automated payment solutions to midsize businesses, announced on Friday it has launched Tech Rising, an initiative spearheaded by the AvidXchange Foundation that aims to remove barriers to technology education and resources for youth and young adults.

According to AvidXchange, the initiative kick starts the AvidXchange Foundation’s strategic focus on bridging the digital divide in Charlotte, North Carolina by providing tools and opportunities to middle and high school students, including the STEAM and essential skills programming necessary to succeed in a digital world.

“Over the next three years, AvidXchange has committed to closing the technology gap in Charlotte by distributing refurbished laptops with internet access to 5,000 students, working with 16,000 students in Title I middle schools to provide STEAM curriculum and helping 8,000 students in Title I high schools develop critical career skills.”

Speaking about the initiative, Michael Praeger, CEO and Co-Founder of AvidXchange, stated that removing barriers to technology education and careers starts as part of a student’s education before submitting a resume or filling out a college application. He further explained:

“Through the AvidXchange Foundation, we are chipping away at the technology barriers to bridge the digital divide and help create economic mobility for youth and young adults in our community.”

Founded in 2015, the AvidXchange Foundation was created in response to helping elementary school students who were impacted by Hurricane Katrina. In 2019, the Foundation supported more than 150 philanthropic events.

Source: https://www.crowdfundinsider.com/2020/08/165288-avidxchange-announces-new-tech-rising-initiative-to-remove-barriers-to-technology-education/

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Mastercard Announces Global Commercial Partnership With Pollinate

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Mastercard announced on Friday it has formed a global commercial partnership with merchant software platform, Pollinate. Through the collaboration, the duo will reportedly bring the latest technology and data insights to banks serving small and medium businesses around the world. In a statement, the companies shared:

“Both Mastercard and Pollinate recognise the importance of small and medium businesses (SMEs) to communities and economies around the world.  With SMEs accounting for 90% of businesses and 50% of employment worldwide, supporting them is even more crucial after Covid-19. Central to this support is the ability for SMEs to access the digital tools and payment solutions that will enable them to survive and thrive.”

While sharing details about the partnership, Zahir Khoja, Executive Vice President of Merchants Solutions and Partnerships at Mastercard, stated that the work with Pollinate, as well as the wider issuer and acquirer solutions ecosystem, supports Mastercard’s collective goal to offer digital payment solutions for small and medium-size businesses to deliver a seamless experience for their customers in a time of need. Alastair Lukies CBE, Founder & CEO of Pollinate, concluded:

“With SMEs being the cornerstone of the global economy and providing half the world’s jobs, supporting their growth and recovery has never been more important.  Both Pollinate and Mastercard are passionate about working with banks to bring SMEs best in class services. Mastercard has demonstrated a long commitment to SMEs, and we are honored to deepen our partnership.”

The partnership with Mastercard comes less than a year Pollinate launched its platform. As previously reported, Pollinate is led by a team of experienced executives from the payments, technology and loyalty sectors. Pollinate noted that its platform allows a bank to enter acquiring, or transform their existing business without changing their underlying infrastructure.  Banks can offer their merchants digital onboarding, and a portal that acts as a central hub of a merchant’s business. 

Source: https://www.crowdfundinsider.com/2020/08/165287-mastercard-announces-global-commercial-partnership-with-pollinate/

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Crowdfunding

U.S. Fintech PayActiv Raises $100 Million Through Series C Funding Round Le By Eldridge

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PayActiv, a U.S.-based provider of employment-based holistic financial wellness services, announced on Thursday it secured $100 million through its Series C funding round, which was led by Eldridge and includes existing PayActiv shareholders Generation Partners and the Ziegler Link•Age Fund II.

As previously reported, PayActiv describes itself as a holistic financial wellness platform for employees to get on-demand access to earned but unpaid wages. The company claims that businesses that use its services see significant cost reductions through increased engagement and retention.

“PayActiv is the best way for employees to get financial relief between paychecks, a service needed by two-thirds of the workforce. We give businesses the tools essential to ease the financial stress of their employees and build a higher performing workforce.”

PayActiv further revealed that it currently serves more than four million employees at over 1,000 businesses across retail, food services, business processing services, and over 400 senior living and healthcare businesses. Its clients include Walmart, Wayfair, Ibex Global, and many others.

The funding round comes less than a year after PayActiv became a Public Benefit Corporation. The company revealed at the time that as a Public Benefit Corporation, its key mission is to help lower-income and hourly wage employees access their earned but unpaid wages and other financial services, resulting in reduced financial distress and increased financial wellness.

Source: https://www.crowdfundinsider.com/2020/08/165279-u-s-fintech-payactiv-raises-100-million-through-series-c-funding-round-le-by-eldridge/

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