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Wealthtech Firm Endowus Hires Veteran Banker as Its Chief Advisory Officer

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Singapore-based digital wealth advisor Endowus has announced the appointment of Wei Mei Tan as Chief Advisory Officer.

In her new role, Wei Mei will drive strategic initiatives to accelerate Endowus’ growth trajectory and provide leadership in curating the advisory and investment solutions delivered to clients across all segments.

As a member of Endowus’ Investment Committee, Wei Mei will also be responsible for building portfolio strategies and fund selection.

Endowus_Wei Mei Tan

Wei Mei Tan

With over 20 years of financial markets experience, Wei Mei brings to Endowus an extensive background in building digital advisory platforms and investment strategies, having held senior leadership roles at top-tier private banks.

She was most recently a Managing Director at Deutsche Bank as the Global Co-Head of Advisory & Investment Solutions, where she was responsible for building the bank’s dbXpert wealth advisory platform.

At Credit Suisse, Wei Mei was the APAC Head of Portfolio Solutions and successfully launched CS Invest. Wei Mei also spent 6 years at UBS Wealth Management where she was the APAC Head of Mandate Specialists, advising ultra-high net worth clients on asset allocation and portfolio construction.

Wei Mei is a graduate of Harvard Business School and Nanyang Technological University. She is a Temasek scholar and holds Chartered Financial Analyst (CFA), Chartered Accountant (CA), and Chartered Alternative Investment Analyst (CAIA) designations.

She is also an adjunct lecturer at Nanyang Technological University.

This news comes on the heels of their recent S$23 million fundraise by Lightspeed Venture Partners and Softbank Ventures Asia.

Samuel Rhee

Samuel Rhee, Chairman and Chief Investment Officer at Endowus said,

“As an industry veteran, I believe her wealth of experience in client advisory and investment solutions will be essential in our next stage of growth and in meeting the needs of our clients.

Endowus is expanding its range of client solutions and bringing onboard new best-in-class fund products across various asset classes, and Wei Mei’s expertise will contribute to our clients finding more solutions suitable to their investment needs.”

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Source: https://fintechnews.sg/51780/wealthtech/wealthtech-firm-endowus-hires-veteran-banker-as-its-chief-advisory-officer/

Crowdfunding

Digital Insurance Company Spot Raises $17.5M

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Digital insurance startup Spot has raised $17.5 million in funding, including $15 million in equity and $2.5 million in debt. The round was led by GreatPoint Ventures, with participation from Montage Ventures, Mutual of Omaha, MS&AD, and Silverton Partners. Mike McCormick, principal at GreatPoint Ventures, will join Spot’s board The company will use the new capital hiring, marketing and business development.

Spot customized injury insurance policies through its partnerships with companies and organizations, allowing partners’ customers and communities to purchase coverage when they sign up for activities or memberships. They developed “on-the-mountain” coverage for skiers and snowboarders, which can be purchased along with a lift ticket, and “on-the-bike” coverage for members of cycling organizations. Spot’s partners include USA Cycling, Powder Mountain, USA BMX, National Ski Patrol, and athleteReg.

“Health insurance across America is broken and high medical costs are causing Americans to go into debt and even file for bankruptcy,” said Matt Randall, co-founder and CEO of Spot. “Monthly premiums on health insurance are much higher than what the average American can afford, so Spot is rethinking insurance and offering a new alternative for today’s consumers, while finding ways to help Americans live their lives without going broke. Our team is providing peace of mind for as little as $25 per month, and driving awareness of much-needed injury insurance coverage options.”

Spot also provides affordable, month-to-month accidental injury coverage starting at $25/month, which can be used with or without traditional health insurance. Plans cover the actual costs of medical bills, up to $20,000 per injury. Spot allows customers to sign up in just one minute for immediate coverage at any time, so they can get the treatment at any licensed physician, hospital, or urgent care clinic.

“Spot is a fundamental fix to the broken US health insurance system, which currently leaves so many people physically and financially ruined,” said Mike McCormick, principal at GreatPoint Ventures. “I believe Spot can fill health coverage gaps for millions of Americans who need better healthcare, and I’m honored to support the company’s mission.”

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

Source: https://www.crowdfundinsider.com/2021/07/178441-digital-insurance-company-spot-raises-17-5m/

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Crowdfunding

Digital Insurance Company Spot Raises $17.5M

Published

on

Digital insurance startup Spot has raised $17.5 million in funding, including $15 million in equity and $2.5 million in debt. The round was led by GreatPoint Ventures, with participation from Montage Ventures, Mutual of Omaha, MS&AD, and Silverton Partners. Mike McCormick, principal at GreatPoint Ventures, will join Spot’s board The company will use the new capital hiring, marketing and business development.

Spot customized injury insurance policies through its partnerships with companies and organizations, allowing partners’ customers and communities to purchase coverage when they sign up for activities or memberships. They developed “on-the-mountain” coverage for skiers and snowboarders, which can be purchased along with a lift ticket, and “on-the-bike” coverage for members of cycling organizations. Spot’s partners include USA Cycling, Powder Mountain, USA BMX, National Ski Patrol, and athleteReg.

“Health insurance across America is broken and high medical costs are causing Americans to go into debt and even file for bankruptcy,” said Matt Randall, co-founder and CEO of Spot. “Monthly premiums on health insurance are much higher than what the average American can afford, so Spot is rethinking insurance and offering a new alternative for today’s consumers, while finding ways to help Americans live their lives without going broke. Our team is providing peace of mind for as little as $25 per month, and driving awareness of much-needed injury insurance coverage options.”

Spot also provides affordable, month-to-month accidental injury coverage starting at $25/month, which can be used with or without traditional health insurance. Plans cover the actual costs of medical bills, up to $20,000 per injury. Spot allows customers to sign up in just one minute for immediate coverage at any time, so they can get the treatment at any licensed physician, hospital, or urgent care clinic.

“Spot is a fundamental fix to the broken US health insurance system, which currently leaves so many people physically and financially ruined,” said Mike McCormick, principal at GreatPoint Ventures. “I believe Spot can fill health coverage gaps for millions of Americans who need better healthcare, and I’m honored to support the company’s mission.”

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

Source: https://www.crowdfundinsider.com/2021/07/178441-digital-insurance-company-spot-raises-17-5m/

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Crowdfunding

Swift Go No Big Deal: VertoFX CEO

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The recent news that Swift is launching Swift Go, a low-value, cross-border payment may not be as monumental as it seems, the founder of global B2B payment provider VertoFX believes.

In an announcement yesterday, Swift said the new service would enable financial institutions to offer a seamless payments experience for low-value transactions to pay suppliers overseas and by consumers sending money to friends and family internationally. SWIFT Go is designed to allow banks to provide their end customers a fast and predictable payments experience – at a competitive fee.

“SWIFT Go is a further step towards achieving our vision of enabling anybody, anywhere, to send money instantly and securely around the world. The new service is a direct response to the needs of small businesses and consumers for fast, easy, predictable, secure and competitively priced cross-border payments,” said Stephen Gilderdale, Chief Product Officer, at SWIFT. “Our new service will allow banks to compete effectively in one of the fastest growing segments of the payments market, delivering a seamless experience for their customers.”

But at least one competitor threw cold water on the announcement by the legacy transfers operator. Ola Oyetayo credited a legacy institution for trying to fill a gap, but he sees clear flaws in its plans.

“Given this initiative is still being facilitated via legacy banks, it inherently still excludes small businesses that are unable to be serviced adequately by large banks,” Oyetayo said. “Fintechs and innovators such as ourselves will continue to be an avenue for small businesses to make seamless cross-border payments and will welcome the ability to utilize Swift Go as well.”

Verto allows businesses to instantly send and receive money in more than 200 countries. Using Verto’s liquidity and price discovery marketplace solution, new customers can convert between 39 currencies, quickly open bank accounts or wallets and make payments on a single platform.

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

Source: https://www.crowdfundinsider.com/2021/07/178443-swift-go-no-big-deal-vertofx-ceo/

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Crowdfunding

Swift Go No Big Deal: VertoFX CEO

Published

on

The recent news that Swift is launching Swift Go, a low-value, cross-border payment may not be as monumental as it seems, the founder of global B2B payment provider VertoFX believes.

In an announcement yesterday, Swift said the new service would enable financial institutions to offer a seamless payments experience for low-value transactions to pay suppliers overseas and by consumers sending money to friends and family internationally. SWIFT Go is designed to allow banks to provide their end customers a fast and predictable payments experience – at a competitive fee.

“SWIFT Go is a further step towards achieving our vision of enabling anybody, anywhere, to send money instantly and securely around the world. The new service is a direct response to the needs of small businesses and consumers for fast, easy, predictable, secure and competitively priced cross-border payments,” said Stephen Gilderdale, Chief Product Officer, at SWIFT. “Our new service will allow banks to compete effectively in one of the fastest growing segments of the payments market, delivering a seamless experience for their customers.”

But at least one competitor threw cold water on the announcement by the legacy transfers operator. Ola Oyetayo credited a legacy institution for trying to fill a gap, but he sees clear flaws in its plans.

“Given this initiative is still being facilitated via legacy banks, it inherently still excludes small businesses that are unable to be serviced adequately by large banks,” Oyetayo said. “Fintechs and innovators such as ourselves will continue to be an avenue for small businesses to make seamless cross-border payments and will welcome the ability to utilize Swift Go as well.”

Verto allows businesses to instantly send and receive money in more than 200 countries. Using Verto’s liquidity and price discovery marketplace solution, new customers can convert between 39 currencies, quickly open bank accounts or wallets and make payments on a single platform.

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

Source: https://www.crowdfundinsider.com/2021/07/178443-swift-go-no-big-deal-vertofx-ceo/

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