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Cellwize Announces Investment from DTCP to Fuel Global Growth

Vlad Poptamas

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Cellwize, a global leader in mobile network automation and orchestration, today announced an equity funding investment from DTCP (Deutsche Telekom Capital Partners), an investment management group with c. $1.6 billion assets under management and advisory from Deutsche Telekom and other institutional investors. The investment will support Cellwize’s evolution toward enabling the immense growth of the industry with the advent of 5G.

As mobile network operators (MNOs) prepare to roll out next generation networks, with competitive pressures and increasing multi-layered complexity driving OPEX up, advanced network automation is paramount. Cellwize has evolved its proven technology into a fully open and modular architecture that orchestrates ‘zero-touch’ closed-loop functionalities and incorporates machine learning and artificial intelligence capabilities.

“Cellwize has consistently been recognized for its high-quality technology and service reliability by a long list of MNOs. Given the increase in network density and complexity, driven by the adoption of 5G, Cellwize is ideally positioned to help its customers automate and orchestrate their next generation network experience,” said Vicente Vento, CEO and Co-Founder of DTCP. “Our investment decision is strongly based on the company’s superior technology.”

The investment from DTCP will be used for the expansion of Cellwize’s global footprint and to continue the company’s support of emerging 5G network rollouts. This announcement follows a year of record results for Cellwize, in which the company launched its new 5G enabled architecture, significantly grew its business and continued to add world-leading MNOs to its customer base.

“At Cellwize, we understand that the industry is on the cusp of disruptive change and entering an era of intelligent connectivity where technology will think and respond for us. The next phase of automation will incorporate machine learning, making the self-driving network more intelligent, maximizing cost efficiencies and improving subscriber experience, delivering in an agile methodology that corresponds to the dynamic nature of the market,” said Ofir Zemer, CEO of Cellwize. “Mobile operators will focus on transforming existing operations, by streamlining and automating processes, to build the foundation for autonomous operations.”

The investment in Cellwize is made from DTCP’s Special Situations Fund which focuses on investments in cloud, internet, network infrastructure & services and software companies alongside strong financial and strategic co-investors. 

ABOUT CELLWIZE

Cellwize develops innovative mobile network automation and orchestration solutions that provide mobile network operators and digital enterprises with the ability to deliver continuous digital services across wireless technologies. Advanced solutions from Cellwize transform rigid, pre-set networks into adaptive, user-centric and responsive “organisms” that continuously match capacity, optimize coverage and provide a superior personalized user experience. Cellwize solutions are enabling the 5G journey for customers across North America, Latin America, Europe and APAC.

For more information, visit http://cellwize.com/ or contact info@cellwize.com, read the latest posts at http://www.cellwize.com/news and follow the company on Twitter: @twitter

ABOUT DTCP

DTCP is an investment management group with c. $1.6 billion assets under management and advisory from Deutsche Telekom and other institutional investors, and a portfolio of over 60 companies. The group provides venture and growth capital, special situation investments, and advisory services to the technology, media and telecommunication sectors. It operates and invests in Europe, the US and Israel. To learn more about DTCP, visit www.telekom-capital.com or @TelekomCapital on Twitter.

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Fintech Startup, Paramount Financial Technologies, Announces Company Launch, Community Banks Sign-on as First Investors

Vlad Poptamas

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Branch Opportunity Grid
Reading Time: 1 minute

 

Paramount Financial Technologies (PFT), a newly formed fintech startup, publicly announced today its company launch in New England with community banks as its first investors.

PFT helps community banks solve critical challenges like growing core deposits, improving branch network performance, increasing business relationships, and managing performance. One of PFT’s most popular tools, under the umbrella of its flagship product, MarketOpp 360, is their Branch Opportunity Grid, which helps clients understand which branches have the greatest opportunities for deposit and loan growth and provides a detailed guide for actions to take.

“Community banks are investing in us because our solutions have been market-tested for twenty years,” said Michael Purchia, President and Founder of Paramount Financial Technologies. “Since the early days of banking analytics, we’ve been building and refining our tools to provide time-sensitive solutions. We integrate client data with AI-based market intelligence and analytics so our clients can make the best business decisions.”

Timothy Felter, Chief Financial Officer of Newburyport Bank, said, “Our executive team is partnering with PFT for our New Hampshire expansion. Their commercial and consumer market intelligence, and on-the-ground insights, are invaluable.”

To learn more about PFT and sign-up for our weekly newsletter with the latest banking news and insights, visit www.pfintech.net. You can also follow us on www.pfintech.net and Twitter.

 

SOURCE Paramount Financial Technologies

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Velotrade completes first cross border trade financing transaction into Mainland China with QEX

Vlad Poptamas

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Photo source: tradefinanceglobal.com
Reading Time: 2 minutes

 

Velotrade, the account receivables financing platform, announces that it is actively executing cross border trade receivables transactions involving mainland Chinese companies.

The first deal involved trade financing for a transaction between a Chinese SOE and a medical equipment manufacturer, made accessible to Velotrade through the collaboration with Qianhai Financial Assets Exchange (QEX) owned by Ping An Group. It is also the first transaction which gives institutional investors on the Velotrade platform exposure to accounts receivable in the PRC. Velotrade is the first company of its type to obtain a Type 1 Regulated Activity licence from the Hong Kong Securities and Futures Commission.

Vittorio De Angelis, Executive Chairman & Co-Founder of Velotrade commented, “This is a transformational deal for Velotrade. We are the first company offering cross-border access to Chinese invoice financing. The deal was completed very soon after we announced our SFC licensing and underscores the pace at which the company is developing. We are building out our team in Greater China, and our relationship with QEX, also thanks to the synergies given by us being part of the Ping An fintech accelerator program, means that we are now able to offer a stream of similar transactions to institutional investors on our platform. We are delighted that Velotrade has been able to open the door for foreign institutional investors to Chinese trade receivables.”

Velotrade is a trusted source of non-domestic money with a streamlined onboarding process as it offers international investors on its platform an alternative channel of investment. At the same time, it also means mainland Chinese companies can now access this channel as well through QEX, which is beneficial for all parties.

The Vice General Manager of QEX, Zhan Yu Hong, commented, “Through launching cross-border trade transactions of debt-based assets such as accounts receivables factoring, QEX supports One Belt One Road and the development of Guangdong-Hong Kong-Macao Greater Bay Area, to provide better services for the real economy. The collaboration with Velotrade is an excellent example.

Prior to this cross border offering by Velotrade and QEX, foreign investors have been unable to participate in onshore Chinese trade financing due to capital controls. However, the partnership between Velotrade and QEX means foreign investors can access Velotrade’s regulated platform. Through QEX, investors are participating as regulated Hong Kongentities, recognised by the People’s Bank of China, gaining direct access to the domestic PRC market.

Gianluca Pizzituti, CEO and Co-founder at Velotrade, added, “Since commencing operations in 2017, Velotrade has handled cross-border financing deals in Hong KongMainland ChinaSingaporeTaiwan and Vietnam across a range of sectors, including the automotive, electronics, healthcare, retail and clothing industries. This transaction is an exciting example of our continued growth and a signal of things to come as we break into one of the largest and fastest growing markets in the world.”

Velotrade’s internet-based platform incorporates modern technologies to create efficiencies in the approval process that expedite financing. Additional identity verification and due diligence is conducted via the same technology platforms used by banks, meeting today’s strictest compliance standards.

 

SOURCE Velotrade

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Turkish Merchants Can Now Connect With Chinese Visitors via Alipay and ininal Partnership

Vlad Poptamas

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Alipay and ininal Partnership
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Leading fintech company ininal becomes Alipay’s first partner in Turkey. ininal, Turkey’s leading new-generation payment platform and a subsidiary of Multinet Up, today announced its collaboration with Alipay, the world’s leading payment and lifestyle platform operated by Ant Financial Services Group, a related company of Alibaba, that Alipay will be available for Chinese mainland visitors at bricks-and-mortar stores in Turkey.

This service will be first available in the facilities of Dorak Holding, the tourism company who plans all activities for tourists and manages numbers of merchants throughout Turkey, serving more than 85% of Chinese tourists visiting Turkey. Merchants accepting Alipay include Turkish specialty retailers, hot-air balloons in Cappadocia, shops, hotels, and Turkish restaurants. Merchants can connect with Chinese customers with digital marketing via the Alipay app while Chinese tourists visit Istanbul and Cappadocia, and those customers can make payments by using the same Alipay app to scan an Alipay QR code displayed on card terminals at the checkout.

Through the collaboration between ininal and Alipay, while Alipay users pay in Chinese Yuan during their visits to Turkey, Turkish merchants will be able to receive payments from Chinese visitors in US Dollars at Dorak Tour locations. Later this summer, Turkish merchants will be able to receive payments in Turkish Lira at existing and new Multinet Up merchants including global chain restaurants and retailers. Multinet Up, ininal’s parent company and the leading financial services company in Turkey maintaining over 40,000 merchants, will utilize its experience in building a network and infrastructure to expand Alipay acceptability. ininal and Multinet Up will work in collaboration with Alipay to further expand the network across Turkey. Jewelers, luxury clothing stores, museums and duty free shops are expected to join in the near future.

“The collaboration with Alipay proves the success of our brand has attained in the last six years. Alipay is the most preferred payment method in China and is widely used by Chinese tourists overseas. The fact that Alipay is used more than cash, credit cards and debit cards is an important data demonstrating the satisfaction it creates. ininal will continue to work with powerful partners globally to bring advanced technology and services to Turkey,” says ininal CEO Ömer Suner.

Stating that the Chinese provided the highest increase in terms of not only the figures but also the tourist spending in Turkey, Ömer Suner continued: “We believe the payment convenience provided through this collaboration will increase the foreign currency that will enter our country and provide contributions to the reanimation of the economy.” In January 2019, a Nielsen report titled 2018 Trends for Mobile Payment in Chinese Outbound Tourism finds that Chinese tourists paid for 32% of transactions using mobile payment, overtaking cash for the first time, and that nearly 60% of merchants surveyed experienced growth in both foot traffic and sales after adopting Alipay.

“Alipay is finally coming to Turkey! We are excited to work with ininal to connect Turkish merchants with Chinese visitors before, during, and after their visit to this beautiful country, overcoming barriers of language and currency. We know our customers are attracted to the ancient and modern sights of Turkey, and the many different experiences it offers, from balloons, to bazars and beaches. As Chinese users’ preferred payment and lifestyle platform, we are always happy to introduce the best offers and must-visit locations of Turkey to our users through our platforms,” said Roland Palmer, Alipay’s Head of EuropeMiddle East and Africa.

 

SOURCE Alipay; ininal

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