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HK Fintech Startup Going Global

Vlad Poptamas

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Photo source: startupshk.com
Reading Time: 2 minutes

 

Gini, the Hong Kong based smart spending-tracker announced today that it has successfully closed its seed round with a $1.6 million investment from global investors, including Mountain Partners, Treuenburg Group, Global Technology Alliance (GTA), Dr. Cornelius Boersch, the European Investment Fund (backed by EIB), and Hong Kong-based Vectr Ventures.

The co-founders, CEO Raymond Wyand and COO Victor Lang revealed the funding will support a global roll out plan, with gini’s aim to be compatible with over 3,000 overseas banks in 60 countries by the second half of 2019 – starting with over 70 banks across Hong KongFranceIndiaSwitzerlandSingapore and the UK currently available.

“We are Hong Kong based, but the plan was never to launch an app only for the Hong Kong market,” explained Wyand. “We live in a globalised world. Ultimately, our goal is to build a truly worldwide financial marketplace, to serve not just a user’s home market but make managing money across markets accessible and easy for anyone to do. This new seed round allows us to start making that vision a reality, and we have strong new partners who share our passion and believe in our vision for what gini can do to disrupt the global personal finances industry more broadly, and make financial freedom accessible to everyone around the world,” he added.

“gini’s business model is proven to be successful in the US and Europe and we’re proud to welcome gini in our portfolio, as part of our recent expansion to Hong Kong. We’re excited to see the app venturing outside of Hong Kong and capitalizing on the many opportunities in both developed and emerging markets. Our global network and strong presence in Southeast AsiaEurope, and Latin America can help the brand tap into new markets and capture growth opportunities, early on,” said Marco Stutz, Director at Mountain Partners.

“We gravitated towards gini as we felt the company had identified the opportunity in personal finance, not only in Hong Kong, but also around the world. Treuenburg Group has a vested interest in growing fintech and gini’s excellence in using technology and their user centered approach makes it a great fit for our portfolio,” said Torsten Pfeiffer, Managing Partner, Treuenburg Group.

 

SOURCE gini

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Cannabis

Hemp Holdouts: Seven States Slow to Reform Hemp Laws After Farm Bill

Betty Tűndik

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Source: newfrontierdata.com
Reading Time: 1 minute

 

Idaho’s state legislative session ended earlier this month with a tinge of disappointment. Despite overwhelming bipartisan support to legalize industrial hemp, the legislature was unable to pass a resolution to relax the state’s hemp ban. Adding to the frustration felt by hemp advocates was the shared inability of both the state’s House and Senate to approve measures legalizing hemp, as they failed to reconcile their competing bills.

That failure could prove problematic over the coming year: Aside from the lost opportunity to take advantage of the socioeconomic benefits afforded by legalization, there remains a heightened legal risk of transporting hemp through the state.

Though the 2018 Farm Bill made hemp federally legal, for the time being it remains codified as a Schedule I controlled substance under Idaho state law. At least one truck driver this year has been arrested by Idaho State Police for transporting hemp, yet charged with trafficking in cannabis. Until Idaho reconciles their laws, many consider the state a dead zone for the hemp industry.

Find out more here

 

Source: New Frontier Data/Hemp Business Journal

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Fintech

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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Cannabis

Phivida Announces the Launch of Wikala’s Private Beta for Its eCommerce Platform

Vlad Poptamas

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Photo source: searchenginejournal.com
Reading Time: 2 minutes

 

Phivida Holdings Inc. (CSE: VIDA OTCQX: PHVAF) (“Phivida” or the “Company”) announces the private beta launch of the Wikala eCommerce platform, featuring cannabis accessories from reputable manufacturers.

“The interest in the private beta release has been phenomenal so far and we look forward to working closely with our customers and creating the most trusted cannabis online marketplace in this industry,” says David Moon, CEO of Wikala. “We’ve been working at maximum pace to get to this stage, and it’s encouraging to think that this is only the beginning of where Wikala and Phivida can go.”

Wikala is a stand-alone eCommerce platform that is set to become the first website in the global cannabis and hemp-CBD space to offer independent sellers’ personal storefronts where they can list their goods within an existing marketplace. The private beta signup is still open and the platform will be available for use for a select number of beta users, based on their geography, for the next 55 days. During that time, the Wikala team will monitor user feedback and prepare the software for the next release.

The core features included in the private beta release are a fraction of the company’s ultimate vision, however, they are a necessary first step and include all of the basic features of an eCommerce website, including a product comparison tool that is yet to be seen in the cannabis market.

“The potential of Wikala is in its modularity and the fact that we can develop new creative features quickly and without having to rely on third party software,” continued Mr. Moon. “This allows us to use the Open Beta release to set the stage for the next milestone, which is to open the sellers’ portal and allow individual businesses to open their stores on Wikala.”

Wikala’s next milestone is the public release of the platform, expected on July 15, 2019, which will feature a refurbished design for mobile devices, a coupon system for discounts, advanced smart search and various additional functionalities that provide a glitch-free user experience from shopping to product delivery. The July 15 public launch is expected to be the platform’s Open Beta.

 

SOURCE Phivida Holdings Inc.

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