Carta, a California-based startup that offers capitalisation table management and valuation software, announced that it has set up a new Singapore office to kick off its first commercial operations in Asia.
The US unicorn will be launching its operations in Southeast Asia with two of its flagship products; its capitalisation table and Employee Stock Options Plan (ESOP) software along with its tech-enabled fund admin service.
Carta added that it has assembled a team of local venture talent along with its own veterans to form its team in Singapore.
The company said in a statement that the move was made possible thanks to an investment from Singapore-based global investor EDBI.
“With EDBI’s strong financial support and deep regional network, we are building the infrastructure backbone for the venture market by helping founders and employees better manage their equity, and we’re supercharging investors by streamlining their back office fund operations.”
The company chose Singapore as the starting point for its Asian expansion as venture capital is flowing into Southeast Asia at a record pace, and with this influx of capital, will come an increase in market complexity.
Additionally, employee ownership in a company in Asia is more than 40% lower than in the US, which means far too many employees are poised to miss out on the venture boom.
MoneyLion Joins Forces With NFP to Provide Nationwide Insurance & Financial Wellness Offerings to Members
MoneyLion, a U.S.-based consumer digital finance platform, announced on Thursday it has teamed up with insurance broker NFP to provide its members with direct access to insurance and financial wellness offerings. MoneyLion reported that the offerings are to help its members support their financial journeys. According to MoneyLion, the partnership allows members to shop for and buy insurance products and solutions through the MoneyLion all-in-one financial platform.
MoneyLion also reported the launch of MoneyLion Marketplace, a platform that matches MoneyLion members with category-leading brands, offers, and value-add resources that are tailored to their personal needs. Dee Choubey, MoneyLion Co-Founder and CEO, shared more details about the partnership and marketplace launch by stating:
“Knowing what type and how much insurance to buy can be a daunting experience for many people, and yet it is a critical foundation for any financial plan. As a leader in digital technology, insurance underwriting and customer service, Nationwide is a natural fit to help our members evaluate the insurance options that are right for them.”
Brett Woodward, Managing Director of NFP Personal Risk, then added:
“Through this partnership, we’ll be able to leverage the MoneyLion Marketplace platform to connect the needs of clients with a range of solutions through an easy-to-use interface. This is a great combination of expertise, innovation and collaboration that delivers meaningful value to MoneyLion members.”
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U.S.-Based E-Commerce Platform Our Mayberry Secures $1.2 Million Through Convertible Note Seed Round
Our Mayberry, a U.S.-based e-commerce platform, announced on Thursday it raised $1.2 million through its convertible note seed round. According to Our Mayberry, investment groups from medical services and restaurant industries led the round. Founded in 2019, Our Mayberry describes itself as an online e-commerce platform that connects businesses and nonprofits to create mutually beneficial marketplaces where consumers can make purchases that support the causes they champion.
“A platform where causes and business partner to do great things!”
While sharing more details about the platform, Our Mayberry CEO, Shawn Tacey, stated:
“Our Mayberry gives businesses the ability to both scale and do good unlike any other platform or service. We process hundreds of thousands of dollars in transactions each month for service businesses like law firms, medical services companies and architects. Other values-driven platforms simply don’t include these types of businesses, but we do.”
Our Mayberry also reported that it is currently operating in 6 states, and has generated growing interest from national nonprofits, including Rotary International and Habitat for Humanity Tacey went on to add:
“Our Mayberry’s model represents the next step in the evolution of both business marketing and fundraising. We’re focused on weaving this new system of commerce into everyday life, and we believe this will go a long way in helping to rebuild and strengthen our communities.”
BRD’s Blockset unveils its white-label cryptocurrency wallet for banks and other enterprise clients
Blockset, the blockchain infrastructure platform for enterprises by BRD, announced early access to its Wallet-as-a-Service today. The white-label solution gives clients, like financial institutions, the ability to launch wallets that have the same features as BRD’s own mobile cryptocurrency wallet, which now has about 7 million users with over $20 billion assets under protection.
Blockset’s clients include some of the largest ATM networks and Japanese investment bank (and BRD investor) SBI Holdings, CoinFlip, Welthee, CoinSwitch, Coinsquare and Wyre. BRD’s other investors include Ripple and it has raised $56 million in funding so far.
One of Blockset’s selling points is access to real-time data about several kinds of cryptocurrencies. This not only allows users to see how their assets are performing, but also enables institutions to perform compliance tasks, fraud detection, anti-money laundering and other important services. Blockset also claims that its multi-chain API has up to 99.999% uptime.
The platform currently supports Bitcoin, Ethereum, Ripple, Tezos, Hedera, Bitcoin Cash and Bitcoin SV, and will add more chains based on customer demand.
Blockset already offered a white-label solution called WalletKit, before launching its current Wallet-as-a-Service with more features. BRD co-founder and CEO Adam Traidman compares its Wallet-as-a-Service to Google Maps, because both aggregate large amounts of constantly-changing data and can connect to other apps, while remaining user-friendly.
“The concept is really a result of learnings from working with our customers, tier one financial institutions, who need a couple things,” Traidman told TechCrunch. “Generally they want to custody crypto on behalf of their customers. For example, if you’re running an ETF, like a Bitcoin ETF, or if you’re offering customers buying and selling, you need a way to store the crypto, and you need a way to access the blockchain.”
“The Wallet-as-a-Service is the nomenclature we use to talk about the challenge that customers are facing, whereby blockchain is really complex,” he added. “There are three V’s that I talk about: variety, a lot of velocity because there’s a lot of transactions per second, and volume because there’s a lot of total aggregate data.”
Blockset also enables clients to add features like trading crypto or fiat or lending Bitcoin or Stablecoins to take advantage of high interest rates. Enterprises can develop and integrate their own solutions or work with Blockset’s partners.
Other companies that offer enterprise blockchain infrastructure include Bison Trails, which was recently acquired by Coinbase, and Galaxy Digital.
Blockset differentiates by focusing on real-time data. It looks at a smaller number of mainstream blockchains in order to ensure depth of information and speed.
“If you’re a financial institution, you can’t accept anything other than instant, accurate and highly-scalable kinds of data. Right down to the millisecond of latency is really important because it can give traders an advantage,” said Traidman.
In a press statement, Wyre chief executive officer Ioannis Giannaros said “Blockset is the clear industry leader in offering enterprise-grade SLAs [service-level agreements] that we require to guarantee high scalability, uptime and data integrity across multiple blockchains.”
KeyBank ramps up RPA ops
Improved data quality and cost savings have spurred KeyBank to roll out robotic process automation (RPA) in its frontline, back office and technology operations recently. KeyBank first implemented RPA solutions via the cloud-native, web-based and AI-infused Automation Anywhere platform in 2018, said Dominic Cugini, chief information officer of service digitization at the $170 billion KeyBank, […]
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