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Thyngs Debuts Touch-free Tech Solution to Help Make Transactions Safer For Retail Customers

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Thyngs, a UK-based mobile technology platform, announced on Friday it has launched its touch-free technology solution to help make integration and transaction experiences safer for retail and hospitality customers. This technology was created during the COVID-19 pandemic and lockdowns.

The latest iteration of the Thyngs tap-and-go technology has been designed to give mid-tier retailers, shopping centres and hospitality businesses a cost effective, easy and safe way of offering completely touch-free transactions, along with expanding the possibilities for socially distanced interactions with customers.”

Thyngs further reported that its technology turns any physical branded object into a point of sale using smart ‘tap and go’ technology such as QR codes, Near Field Communication (NFC), and Apple Pay.

As previously reported, Thyngs is on a mission to transform physical objects and locations into smart, connected, experiences that are engaging, rewarding, and memorable by building a secure and affordable for businesses to take advantage of the growth of the mobile payment and create a sustainable business model in the UK fundraising sector. Thyngs’ self-service platform is reportedly being used by charities, retailers, publishers and re-seller partners to create new services in minutes. 

“Thyngs has been working with PWC as part of their Raise programme and is actively engaging with a number of Series A VC funds with an aim to raise £3-4 million in early 2020 to significantly scale the business.”

Source: https://www.crowdfundinsider.com/2020/06/162689-thyngs-debuts-touch-free-tech-solution-to-help-make-transactions-safer-for-retail-customers/

Crowdfunding

Visa to Acquire European Open Banking Fintech Tink for €1.8B, Transaction Subject to Regulatory Clearance

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Visa (NYSE: V) will be acquiring European Open Banking Fintech Tink for €1.8 billion. The acquisition should help with filling a Plaid-shaped hole in Visa’s existing portfolio after a $5.4 billion deal to acquire the financial data-sharing firm was unsuccessful (following pushback from regulatory authorities).

Tink currently connects to over 3,400 banking institutions that reach more than 250 million bank clients in Europe. Established in 2012 in Stockholm, the firm’s 400 workers serve over 300 banking institutions and Fintech firms in 18 different European markets, out of business offices based in 13 countries. Tink is one of the over 440 third-party providers across Europe that provides open banking services.

Under this new agreement with Visa, Tink will be retaining its company brand and existing management team, and its head offices will still be in Stockholm, Sweden.

Al Kelly, CEO and Chairperson at Visa, stated:

“Visa is committed to doing all we can to foster innovation and empower consumers in support of Europe’s open banking goals. By bringing together Visa’s network of networks and Tink’s open banking capabilities we will deliver increased value to European consumers and businesses with tools to make their financial lives more simple, reliable and secure.”

Daniel Kjellén, CEO and co-founder of Tink, said that for the past ten years they have worked relentlessly to build his company into a leading open banking platform in Europe:

“We have built something incredible and at the same time we have only scratched the surface. Joining Visa, we will be able to move faster and reach further than ever before. Visa is the perfect partner for the next stage of Tink’s journey, and we are incredibly excited about what this will bring to our employees, customers and for the future of financial services.”

The deal is presently subject to regulatory approvals and various other customary closing conditions for this type of transaction.

This new potential transaction marks the second major acquisition of a Swedish Fintech firm by a US-based tech firm, after PayPal’s $2.2 billion purchase of Square competitor iZettle a few years ago.

Dawn Capital, a European venture fund, is listed as one of the investors in Tink and was also an iZettle investor.

John Bell, General Partners at Dawn Capital, remarked:

“With Tink and iZettle, Sweden has now produced two of Europe’s largest ever fintech M&A exits, reflecting the world-class innovation, commercial excellence and entrepreneurial talent we have found across the Nordic market. As the only investor in both companies, we are delighted to have supported their successful journeys to new homes within corporations with global reach, validating the relevance of the B2B tech coming out of Europe. We wish Tink continuing success in the next chapter of its journey.”

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.crowdfundinsider.com/2021/06/177055-visa-to-acquire-european-open-banking-fintech-tink-for-e1-8b-transaction-subject-to-regulatory-clearance/

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Crowdfunding

[Sight Diagnostics in CTech by Calcalist] ZzappMalaria wins IBM Watson AI XPRIZE competition by helping eliminate Malaria

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ZzappMalaria, the developer of a mobile app and dashboard to help eliminate Malaria, has woan first place in the IBM Watson AI XPRIZE Competition, as well as the People’s Choice Award for the Most Inspiring Team. As part of the award, the company has received a $3 million prize to continue its efforts to eliminate malaria from the world.

Read more here.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://blog.ourcrowd.com/zzappmalaria-wins-ibm-watson-ai-xprize-competition-by-helping-eliminate-malaria/

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Crowdfunding

EUROCROWD Report Explains Combining Crowdfunding European Structural and Investment Funds

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EUROCROWD, the leading European advocate for online capital formation, has published a report entitled Scaling Up Partnerships: A Blueprint For the Implementation Of Match-Funding Schemes Between Public Authorities and Crowdfunding Platforms. The report explains how to manage the use of European Structural and Investment Funds in combination with crowdfunded offerings.

EUROCROWD states that over the last three years, match-funding practices in Europe have increased significantly, proving that public authorities can create measurable impact when co-investing public resources alongside individuals.

According to the report:

“Crowdfunding has become increasingly interesting for public authorities as a further option to be included in the existing mix of financial instruments. Especially with regard to the framework of cohesion policy. Transparency, [the] democratization of finance, easier access to funds, as well as accountability and control over funded actions are only some of the benefits that this relatively young instrument can offer. Connecting regional and local authorities with crowdfunding might help tackle some of the most important barriers that the industry is currently facing at the European level, such as the uncertainty about the legal framework under which crowdfunding is regulated in different Member States, the lack of trust towards internet-based transactions, the lack of financial literacy and knowledge about the functioning mechanisms of crowdfunding, and the risk of short-term focus of crowdfunding projects.”

The report provides examples from 8 European countries along with 22 best practices that seeks to offer insight into how such partnerships can work, especially when including the use of public – such as European Structural and Investment Funds (ESIF) – resources. The goal is to highlight and provide a blueprint for crowdfunding partnerships.

In 2018, EUROCROWD first analyzed the use of European Structural and Investment Funds in combination with crowdfunding. This new study strives to demonstrate that match-funding schemes can not only work, but can also be scaled up and used as a road-map for replication by other public authorities.

The report states that:

“… experiences between crowdfunding platforms and public authorities have proven to be successful and have been extended in those areas where they had already been implemented and replicated by different organizations in other Member States and regions.”

The report advocates creating a “match-funding initiative” where public authorities and platforms collaborate on securities offerings.

The report may be downloaded here.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.crowdfundinsider.com/2021/06/177039-eurocrowd-report-explains-combining-crowdfunding-european-structural-and-investment-funds/

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Singapore based Digital Wealth and Savings App Hugo Secures $2M via Seed Round from 1982 Ventures, Others

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Singapore-based Hugo, a digital wealth and savings app, recently revealed that they’ve acquired $2 million in capital via a seed round from 1982 Ventures, established family offices and angel investors.

With the proceeds from its investment round, Hugo stated that it will be introducing additional features to help clients with improving their budgeting, savings and achieving their investing goals so that the company can support the financial wellbeing of its customers.

David Fergusson, Chief Executive Officer and Co-Founder at Hugo, stated:

“Money is the biggest cause of stress and Covid-19 has only reinforced how financially unprepared most of us are. We are excited to introduce Hugo at a time when financial wellbeing has become so relevant.”

David has also mentioned that money fears are “most people’s principal cause of stress, and we talk about Wealthcare® as being the antidote to money fears.” So Hugo plans to create a simple user interface, and an intuitive engagement method for “getting people to, basically, look after their money as they spend it, look after their money as they budget with it, and look after their money as they save with it.”

Hugo has developed a unique feature, known as the Gold Vault, which makes investing in gold more convenient and accessible for everyone. Hugo clients are able to purchase or sell gold for as low as SGD 0.01.

Gold has traditionally been a core investment for the ultra-rich and provides safety and wealth preservation during times of high inflation and socioeconomic uncertainty.

Hugo’s Gold Vault is reportedly backed by physical gold that resides in an accredited LBMA (London Bullion Market Association) vault. The gold is insured by Lloyds of London, allowing investors to benefit from the same level of protections as more established hedge funds and private banking institutions.

Herston Powers, Managing Partner, of 1982 Ventures, remarked:

“Hugo is democratizing access to gold with a low fee product that is extremely thoughtful and approachable. Singapore is a perfect market to launch the next generation of digital banking and wealth solutions.”

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.crowdfundinsider.com/2021/06/176928-singapore-based-digital-wealth-and-savings-app-hugo-secures-2m-via-seed-round-from-1982-ventures-others/

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