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Pine Labs Reports that CIMB Bank, HSBC Bank, Others are Using its Buy Now Pay Later Solution, Now Also Available in Malaysia

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Pine Labs, an Asian merchant commerce solution provider that’s backed by payments giant Mastercard, has introduced a Buy Now, Pay Later (BNPL) solution in Malaysia.

Pine Labs aims to offer a technology-focused offline payments platform where several different credit card issuers can use a common terminal to provide BNPL offers to clients.

AFFIN BANK, AmBank, CIMB Bank, HSBC Bank, RHB Bank are now using Pine Labs’ BNPL solution.

Pine Labs reports that it has managed to achieve success with its offline BNPL platform in India where it claims a 95% market share. During late 2020, Pine Labs had revealed that it was planning to introduce its BNPL platform through a partnership with Mastercard. The company said it would launch the service in Singapore, Thailand, Philippines, Indonesia, and Vietnam.

Kush Mehra, Chief Business Officer, Pine Labs, stated:

“It is an excellent product and a win-win proposition for everyone involved including consumers who get affordable buying options, merchants who are getting an enticing proposition to woo customers back to the stores and boost their sales, and banks and brands who get to build their brand loyalty. This integrated solution that we launched with Mastercard will now be further expanded to newer markets in the region.”

As covered, Pine Labs is an India-headquartered merchant commerce platform that’s focused on expanding its services to Southeast Asia, thanks to key organizational changes.

As previously reported, Pine Labs offers a merchant platform that includes technology and financial solutions for merchants to help them in increasing their revenue, reducing the cost and complexity of running a business, and managing the risks involved. The company connects financial institutions and consumer brands to empower merchants to deliver value to their retail customers.

Pine Labs and its tech platform power both offline and online “last-mile retail transactions, provide customer insights to merchants for targeted sales and offer risk-managed financial solutions for merchants’ business growth.” Today, more than 1 million merchants in India and several other Asian countries, use Pine Labs’ solutions to “run accessible, affordable, speedy and risk-managed last-mile retail operations.”

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Source: https://www.crowdfundinsider.com/2021/04/173848-pine-labs-reports-that-cimb-bank-hsbc-bank-others-are-using-its-buy-now-pay-later-solution-now-also-available-in-malaysia/

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Celsius Forms Partnership With Mobile-First Cryptocurrency Platform B21 Crypto

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Celsius Network, a cryptocurrency lending and borrowing platform, announced on Thursday it has formed a partnership with B21 Crypto, a global, mobile-first cryptocurrency platform to provides investing, earning, and sending crypto services.

Through the partnership, B21 is notably launching a new feature, Earn, which allows users to stake their entire portfolio in a single click to earn weekly yield.

With this Earn feature, B21 users in over 82 countries can now earn up to 18% APY on all their crypto assets and benefit from the Celsius earning model which includes rewards without lock-in, weekly pay outs, no minimum balance restrictions, and asset transfers and withdrawals anytime.”

While sharing more details about the partnership, Alex Mashinksy, CEO of Celsius, stated:

“Partnerships with crypto innovators like B21 are game-changers for the every-day retail investor looking to cryptocurrency as the new asset class of the future. The mission of Celsius is to create the best pathways for users around the globe to achieve financial independence through earning on cryptocurrency. We’re proud to be partnering with B21 to reach that goal.”

Founded in 2017, Celsius addresses the financial needs of today’s consumers worldwide through a democratized interest income and lending platform accessible through a mobile app.

“Built on the belief that financial services should only do what is in the best interests of the community, Celsius is a modern platform where membership provides access to curated financial services that are not available through traditional financial institutions.”

Celsius recently announced it now holds more than $5.3 billion worth of cryptocurrency assets.

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Source: https://www.crowdfundinsider.com/2021/05/175046-celsius-forms-partnership-with-mobile-first-cryptocurrency-platform-b21-crypto/

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Republic Blows the Doors off of April Raising Record $46.6 Million Across all Exemptions

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Republic, a top investment crowdfunding platform, has booked a record month according to an email from the company. Republic is a full-stack investment marketplace offering securities under the various US exemptions along with crypto offerings. Republic reports that during the month of April, the platform raised $46.6 million for 89 different securities offerings under Reg CF, Reg A+, Reg D, and Reg S.

The Cere token offering was a stand-out issuer raising $26 million in minutes (while frustrating investors who could not access the offering).

Republic adds that Fig’s Intellivision Amico offering closed with over $11.8 million in investments. Fig is Republic’s game funding vertical that has effectively leveraged the Reg A+ securities exemption.

Additionally, Republic reports that 24,259 investment commitments were made by 16,864 investors and 56 offerings closed after successfully hitting their goal.

Of note is the fact that during the month of March both Reg CF and Reg A+ received some improvements enacted by the Securities and Exchange Commission. Following an extensive review, the SEC raised the funding cap on Reg CF from $1.07 million to $5 million. Reg A+ jumped to $75 million from $50 million. These changes, along with other improvements, should help create a sustainable industry for online capital formation – as exemplified by Republic’s stellar month.

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Source: https://www.crowdfundinsider.com/2021/05/175045-republic-blows-the-doors-off-of-april-raising-record-46-6-million-across-all-exemptions/

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Subscription E-Commerce Platform ReCharge Scores $277 Million Through Series B Funding Round Led By Summit Partners, ICONIQ Growth, & Bain Capital Ventures

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ReCharge, a U.S.-based subscription e-commerce platform, announced on Thursday it scored $277 million through its Series B investment round, which was led by Summit Partners, ICONIQ Growth, Bain Capital Ventures. Founded in 2014, ReCharge claims to be the leading provider of subscription management software for e-commerce. The company reported that merchants of all sizes have used its billing and payment management solutions to grow their businesses by increasing customer lifetime value and reducing customer churn.

ReCharge has helped over 15,000 merchants launch and scale their subscription business. Be it a curated monthly box, recurring necessities or access to exclusive perks, ReCharge powers billions of dollars in annual processing for nearly 30 million consumers.”

ReCharge further revealed that it helps brands to grow by allowing them to easily add subscription offerings to their business, ultimately turning one-time transactions into loyal, repeat customers. ReCharge has experienced exponential growth, doubling its processing volume each year for the past five years. ReCharge has now processed more than $5.3 billion in transactions and more than doubled annual recurring revenues from 2019 to 2020. Oisin O’Connor, CEO and Co-Founder of ReCharge, further stated:

“Whether you’re a direct-to-consumer or an omnichannel brand, subscription solutions strengthen a brand’s relationship with their customers and make it easy for consumers to make repeat purchases. Our partnership with Summit Partners, ICONIQ Growth and Bain Capital Ventures equips us with both capital and company building expertise that helps to solve new customer challenges and expand our reach through new products and services.”

ReCharge is planning to use the funding to continue its growth and development.

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Source: https://www.crowdfundinsider.com/2021/05/175040-subscription-e-commerce-platform-recharge-scores-277-million-through-series-b-funding-round-led-by-summit-partners-iconiq-growth-bain-capital-ventures/

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South Korean Crypto Exchange Streami Gets Strategic Investment from digital Currency Group

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Streami has received a strategic investment from the Digital Currency Group (DCG), according to a release. Streami is based in South Korea and operates GOPAX, a crypto exchange. DCG is said to be the second-largest investor in Streami and previously participated in the Series A round in 2016. Details on the investment were not revealed. Streami’s seed funding round was led by Shinhan, one of South Korea’s largest commercial banks.

Barry Silbert, founder and CEO of DCG, stated:

“We expanded our investment in Streami because of their fantastic team and the incredible potential of the digital asset market in South Korea. Streami provides the critical foundation for this market to scale rapidly, and our investment will fuel its position as the most trusted digital asset platform in Korea.”

Streami co-founder and CEO Junhaeng Lee added:

“After observing the Bitfinex hack and China’s cryptocurrency crackdown in 2016, we decided to build the reliable cryptocurrency market infrastructure that South Korea needed, starting with an exchange.”

GOPAX claims to be the market leader in compliance and security in a market roiled by regulatory questions. It has been widely reported that the South Korean government is carrying out a crackdown on illegal activities related to cryptocurrency as interest in crypto rises.

Streami reports that in Q1 of 2021, retail users have grown over 100% to 700,000, and including over 150 new corporate clients.

“We are the fastest growing exchange with the highest number of corporate clients,” says the company.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.crowdfundinsider.com/2021/05/175043-south-korean-crypto-exchange-streami-gets-strategic-investment-from-digital-currency-group/

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