News Briefing - Crowdfunding, SME And Alternative Finance

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1. UK – FinTech 

Altfi reports: 


“On its mission to help small businesses streamline their finances, SME banking service Tide plans to launch the ability for its account holders to accept customer card payments. 

The feature will initially launch as Tide Payment Links, with account holders able to include a payment link on their invoices. 

Payment processing will be handled by Adyen, the $73bn Dutch payments group, with the two fintechs announcing a partnership today to enable the feature. 

“Accepting card payments can be difficult and expensive for one-man-bands such as freelancers and contractors, Tide Payment Links will be a simple option to add to invoices and we hope it will help small business owners to get paid more quickly,” said Mark Hazzard, VP of financial services at Tide. 

Hazzard also teased that the tie-up with Adyen to offer payment links is just the start of Tide’s ambitions in the payments space.” 

 

2. UK – FinTech 


Altfi reports: 


“Ten months on from closing the first round of its Series B, digital German insurance provider Getsafe has more than tripled its latest funding. 

The insurtech has added $63m to its Series B funding round, taking the total raised in the funding effort to $93m. 

A host of new investors joined in on the round, including some of the largest family offices in Germany and Switzerland, such as Abacon Capital. 

Existing investors Earlybird, CommerzVentures and Swiss Re also participated in the top-up of Getsafe’s Series B. 

“Getsafe's vision to excite people with a digital insurance experience, and to sustainably change this industry is a fantastic journey to be part of,” Christian Nagel, partner at Earlybird, said. 

“The disruption of the insurance sector is well underway and holds lots of growth opportunities. Getsafe is uniquely positioned to bridge the gap between traditional insurance distribution and the needs of a new generation of customers across Europe." 

 

3. International – FinTech 

 

The Fintech Times runs an opinion piece: 


The digital development that has swept the financial industry has not been felt by all. Corporate treasurers have been left with clunky user experiences and arduous manual processes whilst retail banking has become extremely fast and responsive. However, there is hope as payment data is undergoing a transformation largely enabled by ISO 20022.” 

  

4. International – FinTech 

 

The Fintech Times reports: 

 

“It has been found that of the $39.8 trillion total aggregated revenue of companies featured on the Forbes 2000 list, APAC-headquartered companies represented 38.2%; totalling $15.2 trillion. 

This is according to the recently published research of GlobalData, an initiative that was spearheaded by Parth Vala, the company’s Profiles Analyst. Parth notes that this figure was achieved by 803 enterprises – representing around 40% of those in Forbes’ list. 

When we consider Parth’s research a little closer, we see that after the APAC region, companies headquartered in North America saw the second-highest combined revenue at $14.3 trillion from 656 companies. 

APAC and North America were followed by Europe with $9.1 trillion from 437 companies; then the Middle East and Africa with $602.6 billion in revenue from 65 companies; closing with South and Central America with $566.3 billion from 39 enterprises. 

North American companies accounted for around 41.5% of the total $2.5 trillion profit pool of companies in the Forbes 2000 list, followed by APAC at 40.9%, Europe at 12.7%, the Middle East and Africa at 3.7%, and South and Central America with 1.3%. 

However, the Middle East and Africa surprisingly dwarfed all other regions in terms of generating profit through per unit of revenue as it posted net profit margin of 15.5%, followed by North America with 7.3%, the APAC region with 6.8%, followed by South and Central America with 5.6%.” 

 

5. US – FinTech 

Crowdfundinsider reports: 

“Overalls, which claims to be the first personalized, all-in-one protection platform, is “shaking up” how worker benefits are packaged by taking an innovative approach to insurance that “combines life, personal-line and entirely new protection products into algorithmically optimized and personalized portfolios to celebrate life’s ups and protect life’s downs.” 

“Today, insurance is confusing and disjointed,” stated Jon Cooper, CEO of Overalls. 

Jon added: 

“Instead of spending hours researching the nuances of the industry or putting their trust in a commissioned salesperson, consumers – through their employers – can use Overalls to source protection tailored to their lifestyle and financial goals in one place.”