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Regtech ClauseMatch Plans US Expansion, Signs Up 2 North American Clients

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Regtech ClauseMatch is crossing the Atlantic and setting up operations in the US, according to a note from the company. ClauseMatch is a compliance platform that seeks to streamline legal, finance, operations, and risk departments.

ClauseMatch reports that it has opened a new office in New York City due to demand from both US companies as well as international firms operating in North America. After London and Singapore, New York is the third location across the globe where ClauseMatch is represented. Establishing a presence in the US is a strategic move even while the market is experiencing a period of uncertainty and volatility.

a compliance platform that enables compliance, legal, finance, operations and risk departments to collaborate in real-time on policy documents, has announced the launch of its US office in New York. The opening comes in response to demand from US companies and international clients operating in the US.

ClauseMatch was initially introduced to the US market through the Department of International Trade UK (DIT) missions several years ago. In early 2017, ClauseMatch claimed its first global client with a significant presence in the US.

Current clients operating in the US include Barclays along with two of the largest financial companies in the country, says ClauseMatch. These include a publicly traded bank based in New York and one of the world’s largest investment firms. Popular UK based digital bank Revolut is already using ClauseMatch’s services in the US.

On June 25th, ClauseMatch “graduated” from the Fintech Innovation Lab based in New York and run by a the Partnership Fund for New York and Accenture. ClauseMatch was only one of ten companies participating in the Lab. The experience brought more exposure to US financial services firms as well as gaining additional insight into the needs of big banks as well as insurance companies.

Ari Helgason, Principle at Index Ventures – ClauseMatch’s lead investor, said they are excited about the potential of the Clausematch platform for the North American market. Helgason said the AI-driven approach to automation compliance and bringing structure to unstructured data is unique.

“Now is the right time to help risk and compliance automate policy management and step up to the level that regulators expect.”

Maria Gotsch, President and CEO of the Partnership Fund for New York City, added that tech that streamlines compliance is a priority for the Lab:

“We’re excited that ClauseMatch is entering the U.S. market by opening an office in New York at a time when new activity and jobs are so important for our local economy.”

ClauseMatch’s proprietary AI-powered document collaboration platform is said to enable work with smart connected policy documents in real-time. ClauseMatch aims to help teams to map them with regulatory obligations applying machine-learning (ML) algorithms on a granular level, something that’s not available anywhere else.

ClauseMatch reports that Barclays risk and compliance departments are already using the service to manage their global policies in real-time. ClauseMatch is estimated to have reduced the annual policy refresh cycle by 40%. ClauseMatch took away 85% of manual work – a significant difference.

Evgeny Likhoded, CEO & Founder, ClauseMatch, stated:

“Our technology has found a warm welcome in the US, especially in the current climate where the entire workforce is now working from home, and organizations have to find new tools to adapt. With daily changes happening in the global arena, it is imperative to be able to adapt quickly and communicate better with employees. Through our platform, business continuity plans and disaster recovery policies could be updated and communicated to everyone in real-time, so people in compliance can work smarter and concentrate on higher-value tasks.”

Rich Heller, Head of US Branch, explained they are seeing increasing demand and appetite for the kind of technology they offer from banks of all sizes and insurance companies.

Michael Rasmussen, a US-based GRC expert, said that North American organizations are being hammered with regulatory obligations and compliance requirements – a bit of an understatement:

“They need efficient, effective, and agile ways to manage regulatory obligations and governance documents such as policies. ClauseMatch’s entry into the North American market comes at the most ideal time as the U.S. Department of Justice just this month released guidance on the evaluation of compliance programs with a predominant focus on policy design, comprehensiveness, accessibility, and operational integration, these are all specific things that ClauseMatch enables and delivers upon,” said Rasmussen.

Source: https://www.crowdfundinsider.com/2020/06/163413-regtech-clausematch-plans-us-expansion-signs-up-2-north-american-clients/

Crowdfunding

CROWDFUNDING FAVORITES! Featuring: GravGrip, Turtl Eco Sunglasses, ASMOKE Portable Applewood Pellet Grill & Many More!

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#1 Staff Favorite

GravGrip is a hydraulic camera stabilizer for your cell phone and action camera. It’s waterproof, battery-free, affordable, and ultra-compact! The balance correction system is adjusted using hand force. Some cameras have an offset center of Gravity (hint hint: GoPro), but with GravGrip you can easily level the horizon with a quick change in position. This system will NOT budge!


TURTL: Eco-Friendly Luxury Sunglasses

ENDS TODAY! BioShell frames fuse plant-based, biodegradable materials with unrivaled strength and striking color, so you won’t need to choose between style and sustainability ever again. They’re strong, durable, lightweight, and long-lasting.


ASMOKE – Portable Applewood Pellet Grill

FINAL HOURS! Prepare your palate for a unique and flavorful experience. ASMOKE is the first portable (and versatile!) applewood grill that uses 100% all-natural applewood pellets. By using only pure fruitwood, you’ll enjoy delectable, smoky-sweet flavors without the artificial taste.


Alpha™ Sheets 2.0: Pure Silver Bedding

FINAL HOURS! Alpha Sheets 2.0 are made with pure silver fibers and ultra-soft premium cotton to help your bed remain cleaner by fighting germs, bacteria, fungus, viruses, and other pathogens. Utilizing game-changing pure silver Micron™ Tech, Stain Repel, and Wrinkle Resist, Alpha has become the ultimate natural bedding to help promote a healthier lifestyle.


RYZE-UPS: The Modern Pull-Up Bar

ENDS TODAY! Personalize your pull-ups, and take them anywhere you go. Roughly the size of a book and weighing less than 2 lbs. each, Ryze-Ups travel light and fast. The Zip Clamp and release button allow for simple and fast adjustments, with a secure lock onto your door, so you don’t go anywhere but up.


AirThreds: Machine Washable Air Filter

As time goes on, particles collected by your air filter begin to reduce its airflow, creating more strain on your HVAC system. With AirThreds, this can easily be avoided by washing your filter regularly. Keeping the airflow smooth and the air you breathe clean. Save on replacement costs, reduce landfill waste, and lower carbon emissions.


The Hinoki Essential Knives

A bread, paring and Chef’s knife, designed and crafted to simplify every turn in your kitchen, uncompromisingly durable and exceedingly sharp. From the home of bladesmithing, Seki, Japan, they’ve married a 400-year tradition of craftsmanship to modern form, function, and aesthetic.


Sugar Heist | Ends Today!

Sugar Heist is a card game where players collect, trade, and steal candy cards. Dominate your opponents and strategically heist their sweets as you battle it out for the biggest stash of candy. Sugar Heist is quick to learn, family-friendly, and takes 45 to 60 minutes to play.


Origami Bottle

DiFOLD Origami Bottle is the most compact, stable, and elegant collapsible bottle AND it is also kickstarting a bigger Refuse Refold Revolution! It is the flagship product that comes out of our collapsible design technology and opens up a whole new foldable reusable world!


Mark Two: A Minimal & Durable Pocket Pen

The Mark Two has three important things. A minimal design, clean and simple. It’s durable, designed to be carried in your pocket daily. It’s very small and fits in your pocket, but when posted (in writing mode), a clever bit of engineering makes the pen a normal length.


Notoria – Tarot in Light

A unique Tarot deck printed on metal old premium cardstock inspired by the Ars Notoria, the fifth book of the Lemegeton – the Lesser Key of Salomon. This Tarot focuses on Angels and the forces of light, following an esoteric, alchemIcal, and psychological interpretation of the ancient lore.


Passport II Pro: 61W Adapter

It only takes 2 hours to fully charge a 13” MacBook Pro. Leave your laptop charger at home. With Passport II Pro and a USB-C to USB-C cable, you’re packing lighter and smarter than ever before. Plus, Passport II Pro has enough ports to charge up to five other devices.


W.E.T Whisky Decanter & Oak Sphere Packs

ENDING SOON! Bring some magic into your spirits game. Age your Whisk(e)ys with proprietary oak sphere packs, endowed with hints of oak, right in your decanter, or become an alchemist with various spirits to create brand new creations in Vodka, Rum, Tequila, and more.


Nabot AI: Programmable & Trainable Robot

Nabot is a remote control robot that has become programmable, smart, and autonomous. Nabot can be your playmate and a tool to explore the world of artificial intelligence and coding. You can teach it to detect and recognize objects and people. The robot’s strong arm and thumb-like claw enable it to grab and move objects effortlessly.


Covu Mask: Evolution of Air Filtration

The Covu Mask is a P100 Full Face Air Filtration Mask that filters 99.99% of airborne particles bigger than 0.1um, including pollen, pollution, allergens, and many other harmful molecules in the air! Unlike other face masks currently in the market, The Covu Mask creates a complete hermetic seal around your face, covering and protecting your eyes, nose, and mouth! It’s inside the frame is completely made of food-grade silicone, so it’s very comfortable, and you can use it for many hours!


BIGSOFTI: Portable Soft-Light

A soft light evens out skin tone and diffuses any hard shadows so bumps and creases disappear. Created by Australian film professionals and based on these lighting principles, BIGSOFTI is a mobile, high quality, bi-colour LED soft panel that delivers stunning diffused lighting for better photos, videos, and video calls on all your devices.


Sanikind: Eco-friendly Sanitizer Mist

The ultimate keychain-sized, sanitizing kit made from ocean-bound plastic. It’s time to protect your health and our ocean’s health too. Never forget your sanitizer again by clipping it to anything. Instantly sanitize everything you touch, even electronics. Plus, you get plastic-free refills that last over a month. No more plastic guilt when using hand sanitizer!


Source: https://www.backerkit.com/blog/crowdfunding-favorites-featuring-gravgrip-turtl-eco-sunglasses-asmoke-portable-applewood-pellet-grill-many-more/

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Early-Stage Startup Investments: Strategies for Diversification

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The rapidly evolving COVID-19 pandemic continues to create unprecedented challenges politically, socially, and economically, all of which can be seen reflected in significant volatility in the global public markets. However, over the past few months we have witnessed something entirely different on our platform. We have seen by far the best activity since we founded SeedInvest eight years ago: our investor network is highly active and growing more than ever, and we are on pace for the best quarter we’ve ever had by nearly all measures. Evidently there is a continued appetite for startup investments, despite the present public market uncertainty. For those potentially looking to rebalance a portion of their portfolios, what are some strategies, both timely and timeless, for building a diversified venture capital portfolio?

The Risks

While exciting, investing in startups is not without its risks. It’s commonly accepted that the majority of your returns will be concentrated in just a select few startups, while the majority of your startup portfolio investments will return at best what you invested (and more often than not even less than that). If you invest in too few startups, you are statistically less likely to be invested in one of the few “winners” whose outsized returns are crucial to offsetting the myriad losses you are almost guaranteed to experience across the majority of your portfolio. This is a critical concept for those looking to add early stage startups to their investment portfolio, as building a large, diversified portfolio is one of the most effective hedges against such losses.

Early Stage Companies Can Be More Nimble

Early stage companies are typically more nimble and less affected by market cycles, as small businesses are better suited to pivoting their business model during a crisis, or other periods of big macroeconomic change. The COVID-19 crisis has already resulted in potentially lasting changes to the way we work, the most obvious being the dramatic increase in remote working. This is not necessarily a hindrance for agile, more tech-enabled startups. They can more easily pivot to allow employees to work effectively from home, regardless of how distributed the workforce is, which cannot always be said for companies in more traditional sectors.

Another advantage of being an early stage startup is the larger range of exit strategies available to them. Conversely, later stage companies may be more exclusively focused on an IPO. In the near future, later stage companies may begin to feel increased pressure in a bear market with depressed valuations–hardly the ideal time to go public. Further, mid to late stage companies may have higher burn rates, such as the highly visible “unicorn” startup, WeWork, which burned through $1.4B in Q4 2019. WeWork’s future is uncertain, especially with more companies looking to accommodate the increasing need for employees to work remotely, highlighting that later stage companies often need to be well-financed to endure. Diversifying into early stage companies is one strategy for building a robust portfolio for the long term, helping to prepare for an unpredictable socioeconomic climate.

Diversification Across Sectors

Beyond diversifying across company size and business model, one should also consider investing in startups across a variety of industries and sectors. Each industry has a different risk and reward profile, as well as a different tolerance of economic climates. Cast your mind back to a few years ago–who could have predicted the near collapse of the restaurant and hospitality sector, or the healthtech and e-commerce boom, all a byproduct of the crisis we are living through right now? Sectors perform at different paces the majority of the time, so ensuring you have a diversified, well-balanced selection will help bolster your portfolio’s resilience.

Diversification Across Geographies

As with different industries, differing geographies will similarly either benefit or suffer from big macro events at different paces, so one strategy for diversification is to broaden the geographical span. Additionally, the increase of remote work eliminating geography as a constraint to a company’s talent pool could be a game-changer for businesses, as fewer startups will be reliant on traditional VC hubs. Smaller tech hubs are increasingly competing against Silicon Valley, historically the epicenter of the startup tech ecosystem. Companies based in secondary or tertiary markets may start getting access to a broader talent pool as employees leave Silicon Valley. We are already witnessing this geographical shift, with exciting startups emerging from unlikely locations: UIPath ($7bn unicorn) from Bucharest, Supercell ($9bn exit) from Helsinki, Farfetch ($7bn IPO) from Lisbon. Being in a traditional VC hub is no longer a prerequisite to creating the next unicorn startup, and COVID-19 may well accelerate this trend.

Diversification Through Diversity

There is a much-needed conversation occurring these days about systemic racism, including in the business world. In addition to being a moral issue, a lack of diversity within a company may also impact the bottom line. A McKinsey report found that “ethnic and cultural diversity on executive teams continues to correlate strongly with company financial performance, [which supports] the argument that there is value in promoting ethnic/cultural diversity in [top company] teams around the world.” Additionally, First Round Capital found that teams with at least one female co-founder performed 63% better than male-only teams, while racially diverse teams performed 35% better than their industry peers.

However, a recent study of VC-backed deals found that 77% of founders were white, just 1% percent of VC-backed founders were black, while women-founded startups received only 9% percent of investments. While we still have a long way to go, we are proud that 12% of SeedInvest’s portfolio companies over the past two and a half years have been led by diverse founders. Early stage investing is just as much about who you are investing in as the idea, the potential market opportunity, business fundamentals, or technology, and so investors serve themselves well by being mindful of the entrepreneurs they are supporting.

What’s Next?

SeedInvest has new investment opportunities launching each week, across all stages, industries and geographies. Explore our offerings page. [1]

 

 

[1] These materials may contain forward-looking statements and are meant for informational purposes only. These statements reflect the author’s current views with respect to future events based on information currently available and are subject to risks and uncertainties that could cause the actual results to differ materially. In addition, these statements are not intended to serve as a recommendation to buy or sell any security, are not an offer or sale of a security, and are also not a research report or intended to serve as the basis for any investment decision. Readers are cautioned not to place undue reliance on these forward-looking statements as they contain hypothetical illustrations of mathematical principals, are meant for illustrative purposes, and they do not represent guarantees of future results, levels of activity, performance, or achievements, all of which cannot be made. Moreover, no person nor any other person or entity assumes responsibility for the accuracy and completeness of forward-looking statements, and is under no duty to update any such statements to conform them to actual results.

The post Early-Stage Startup Investments: Strategies for Diversification appeared first on SeedInvest.

Source: /blog/seedinvest/diversification-strategies

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Insurtech Lemonade Prices IPO Higher than Expected, Shares Pop on First Day of Trading on NYSE, OurCrowd Books Another Win for Investors

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Lemonade (NYSE:LMND), a fast-growing Insurtech firm, completed its initial public offering (IPO) today on the New York Stock Exchange (NYSE). Earlier today it was reported that at the last minute Lemonade bumped up its planned offering price to $29 a share. Apparently, that was not quite enough as demand outstripped supply in early trading and shares opened at around $50 a share as the price rocketed higher.

At the IPO price of $29/share, Lemonade grossed $319 million (before commissions and expenses). The fact that investment management firm Baillie Gifford, based in Edinburgh, indicated its interest in purchasing around $100 million of equity in Lemonade probably helped boost overall share demand.

Daniel Schreiber, Lemonade CEO, told CNBC that early trades were not indicative of the story of the company but there is an opportunity to transform insurance – even while shares moved significantly higher:

“We will look at the price of our shares every couple of years and not every minute.”

Lemonade is a digital-first insurance platform that seeks to align the interests of customers with the business. The company was formed based on the fact that most people hate their insurance providers combined with the reality that insurance is a huge industry that is in dire need of digital disruption. Since platform launch, Lemonade has expanded its services to 28 different states in the US as well as Germany and the Netherlands in Europe. Lemonade is licensed in 41 states and expects to cover the entire country in the following months. Also on the road map is to provide insurance services in 31 different European countries.

As it stands today, Lemonade offers homeowners and renters insurance but the Insurtech is building a model that can be applied to various insurance verticals. Renters insurance starts at just $5 a month and homeowners insurance starts at just $25 month.

On its website, Lemonade highlights all of the big-name insurance companies that have seen their customers switch their business to their platform due to its focus on customer service.

Lemonade explains their approach:

“Traditional insurance companies make money by keeping the money they don’t pay out in claims. This means whenever they pay your claim, they lose profit. This is why getting your claims paid fast and in full is sometimes so hard. Lemonade was built differently. We take a fixed fee out of your monthly payments, pay reinsurance (and some unavoidable expenses), and use the rest for paying out claims. In essence, we treat premiums as if they were still your money and return unclaimed remainders in our annual ‘Giveback’.”

Insiders believe that, overall, insurance is incredibly ripe for disruption and the Lemonade team did it right by building a world-class platform while bringing in great people to transform insurance.

One of the early investors was global crowdfunding platform OurCrowd. While not the biggest investor in the company – a list that includes names like Sequoia and Softbank, OurCrowd provided an opportunity for smaller investors to get into the company at a far lower level thus helping to validate the investment crowdfunding platform’s mission.

Crowdfund Insider spoke with OurCrowd CEO and founder Jon Medved on the day of the IPO. He had this to say:

“We are delighted with today’s IPO for lemonade we are proud of their spectacular team and what they achieved so far and we look forward to very exciting additional chapters in this emerging story. This is yet another one of Ourcrowds IPOs which have proven that investors in next-generation platforms can get early and important access to quality deals just like institutional investors.”

Since its inception, OurCrowd has backed several companies that have IPOed like Beyond Meat, Uber, and Rewalk. So far, OurCrowd has booked over 35 exits for its platform investors.

At the time of writing, shares in Lemonade were trading at over $62/share thus more than doubling its IPO price.

Have a crowdfunding offering you’d like to share? Submit an offering for consideration using our Submit a Tip form and we may share it on our site!

Source: https://www.crowdfundinsider.com/2020/07/163556-insurtech-lemonade-prices-ipo-higher-than-expected-shares-pop-on-first-day-of-trading-on-nyse-ourcrowd-books-another-win-for-investors/

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