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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.”

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

Crowdfunding

Why Does this Perfume Smell Like Gas?

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Take a Look at these Pandemic Tattoos

2020 was a historic year. Perhaps that’s why so many people are getting something special to remember everything that happened. Get the scoop »

This MIT Robot Will Get You Dressed in the Morning

Sometimes, even everyday tasks like getting dressed can be exhausting. But now there’s a robot from MIT that can help »

From New York to Chicago — In Minutes

How fast is this new high-speed train? So fast that you could grab a deep-dish pizza in Chicago, and enjoy a Broadway show in New York… in the same afternoon »

Curing Cancer Just Got Easier

Doctors just discovered that there’s a single protein linked to all kinds of cancer. And now, by targeting this protein, finding a cure for cancer might be more feasible. Learn more »

Why Does this Perfume Smell Like Gas?

In a recent survey, 20% of drivers said they were hesitant about switching to electric vehicles because they’d miss the smell of gasoline. But thanks to this new invention, now the switch should be easy »

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://www.crowdability.com/article/why-does-this-perfume-smell-like-gas

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Crowdfunding

LEAKED: Startup Profits Revealed

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How much money could you potentially earn by investing in startups?

Well, if you’re a longtime reader here, you’ve seen countless studies on the returns you could have made in the private startup market.

But what about real-world numbers? In other words, actual profits that came from startup investments over long periods of time?

Well, that’s precisely what I want to show you today. You see, a well-known startup investor recently “leaked” his firm’s profit numbers from the past decade.

Today, I’ll share those numbers with you…

So you’ll be able to determine for yourself whether they live up to the hype.

Mutual Funds for Startups

Before we dive into the numbers, first let me explain where they came from.

Professional startup investors are called Venture Capitalists. And their firms are called Venture Capital Funds.

These funds are similar to mutual funds — but instead of investing in a portfolio of publicly traded stocks, they invest in a portfolio of startup companies.

One well-known venture fund is called Union Square Ventures (USV). Its offices are just around the corner from Crowdability’s headquarters in New York City.

USV was an early investor in startups including Tumblr (acquired by Yahoo for $1 billion) and Twitter (which now has a $56 billion market cap).

Profits Revealed

But Tumblr and Twitter are examples of its successful investments.

What about its not-so-successful ones? Or the ones where USV lost money?

Until recently, few people knew what the firm’s true overall returns looked like…

But a few days ago, the firm’s founder and Managing Partner, Fred Wilson, published a blog post including data on the firm’s REAL returns from the past decade.

According to Wilson, over the past 10 years, USV has earned an average of 58.6% per year.

That’s amazing. To put it in context, it’s nearly 10x higher than the stock market average of 6% per year, and it’s even higher than Warren Buffett’s average annual return of 20% per year.

And keep in mind: that figure includes USV’s winners and losers.

Not a Surprise!

To many people, these results were shocking…

But Matt and I weren’t surprised at all.

You see, we’ve been tracking and investing in this market for a long time. So we know how profitable it can be to invest in early-stage private startups.

For example, a couple of years ago, we reviewed a study from an investment research firm called Cambridge Associates. Cambridge advises some of the largest investors in the world — institutions like Harvard University and the Bill Gates Foundation.

In this study, Cambridge published the results on the long-term returns generated by early-stage startup investments. Simply put, it found that, over 25 years, a portfolio of startups generated an average return of 55% per year.

And as you can see, this study matches the real-world returns of USV almost perfectly!

Now It’s Your Turn to Get Started!

After reading this essay, you might be champing at the bit to dive into startup investing.

Well, our mission is to make that as easy — and as profitable — for you as possible.

Which is why Matt recently sat down for a 60-minute interview to reveal our proprietary strategy on Pre-IPO Cheat Codes.

As you’ll see here, these simple codes show you how to get access to the world’s next billion-dollar companies — while they’re still tiny (and cheap) startups.

Click here now to watch the full interview »

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://www.crowdability.com/article/leaked-startup-profits-revealed

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Crowdfunding

Changing UK Cybercrime Patterns Outlined in PPC Shield Report

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British individuals and businesses have been scammed for £5.7m in losses from just under 15,000 reported cybercrime incidents so far in 2021, research from click fraud prevention firm PPC Shield reveals. Malicious hacking, fraudulent use of social media accounts and email scams are the top methods, accounting for 43 per cent of all reported activity. Malware/viruses, personal hacking and extortion are also common.

The under-40 crowd has reported the most incidents this year with 5,000, suggesting scammers and hackers are predominantly targeting those used to juggling multiple social media accounts, email addresses and banking apps.

While corporate cybercrime only accounts for 10 per cent of reported incidents, the £1.9 million in damages are one-third of the total figure.

The effects take a mental toll. According to ONS data from the Crime Survey for England and Wales (CSEW), 72 per cent of victims said they had been emotionally affected by their experiences, with almost one third indicating a moderate to severe impact –  mostly annoyance and anger. Ten per cent said they experienced anxiety, depression, fear and sleep disruption.

Four out of five offences (81 per cent) were committed by an individual (not an organization) that was unknown to the victim. According to Google, malware is being used less than at any point since 2007, but phishing websites have grown by 750 per cent. One in three folks who lost money learned through their financial institution.

When non-cyber assisted fraud is factored in, UK authorities have so far received 253,736 reports totalling £1.2 billion in losses this year. They have issued public warnings of phishing scams conducted over the course of the COVID-19 pandemic, with an increase in fraudulent text and calls to mobile phones, as individuals posing as bank employees, HMRC and even the NHS charging for fake COVID tests and track and trace.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://www.crowdfundinsider.com/2021/07/178444-changing-uk-cybercrime-patterns-outlined-in-ppc-shield-report/

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Crowdfunding

Changing UK Cybercrime Patterns Outlined in PPC Shield Report

Published

on

British individuals and businesses have been scammed for £5.7m in losses from just under 15,000 reported cybercrime incidents so far in 2021, research from click fraud prevention firm PPC Shield reveals. Malicious hacking, fraudulent use of social media accounts and email scams are the top methods, accounting for 43 per cent of all reported activity. Malware/viruses, personal hacking and extortion are also common.

The under-40 crowd has reported the most incidents this year with 5,000, suggesting scammers and hackers are predominantly targeting those used to juggling multiple social media accounts, email addresses and banking apps.

While corporate cybercrime only accounts for 10 per cent of reported incidents, the £1.9 million in damages are one-third of the total figure.

The effects take a mental toll. According to ONS data from the Crime Survey for England and Wales (CSEW), 72 per cent of victims said they had been emotionally affected by their experiences, with almost one third indicating a moderate to severe impact –  mostly annoyance and anger. Ten per cent said they experienced anxiety, depression, fear and sleep disruption.

Four out of five offences (81 per cent) were committed by an individual (not an organization) that was unknown to the victim. According to Google, malware is being used less than at any point since 2007, but phishing websites have grown by 750 per cent. One in three folks who lost money learned through their financial institution.

When non-cyber assisted fraud is factored in, UK authorities have so far received 253,736 reports totalling £1.2 billion in losses this year. They have issued public warnings of phishing scams conducted over the course of the COVID-19 pandemic, with an increase in fraudulent text and calls to mobile phones, as individuals posing as bank employees, HMRC and even the NHS charging for fake COVID tests and track and trace.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://www.crowdfundinsider.com/2021/07/178444-changing-uk-cybercrime-patterns-outlined-in-ppc-shield-report/

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