Category Archives: Entrepreneurs and Start-ups

Lifehacks for When a Robot Wants Your Job

Share

BNN Bloomberg | Nisha Gopalan and Andy Mukherjee | Jul 14, 2018

(Bloomberg Opinion) -- Can’t code, or speak Bahasa? Didn’t go to school with a CEO’s son or daughter? A robot will take your trading seat. Read on if you want to save your job.

The threat from automation is in the flows part of banks’ global markets business, the most important chunk of the biggest division of investment banking. Investment banks garner 70 percent of their revenue from global markets, made up of trading stocks and bonds, as well as structuring derivatives products and financing; the remaining 30 percent comes from advisory services like shepherding M&As or helping companies raise equity and debt.

The higher-margin areas within markets — from structuring to swaps — is relationship-oriented, and therefore (relatively) safe from robot overlords. And it happens to be a big contributor to the 70 percent pie, especially in Asia, where commissions on equities and fixed-income trades are sinking fast, and language and client connections play a big role. Good news? Read on.

With the flows business comprising 51 percent of banks’ global markets revenue of $109.8 billion last year, according to Coalition data, automation of even vanilla trades is no small threat. Besides, the 30 percent advisory pie of investment banking revenue outside global markets only pays well when banks counsel on large cross-border transactions or underwrite big IPOs.

See:  Charlene Cieslik, Chief Anti-Money Laundering Officer of Coinsquare, Joins the National Crowdfunding & Fintech Association of Canada’s Advisory Group

In Asia, the former is largely a Japanese game since China pulled the plug on deal-making by its overly ambitious conglomerates. And large share sales only happen in a few markets. India may be the second-biggest destination for cheap Xiaomi phones, but the Chinese firm’s Hong Kong IPO probably made more for banks than the entire Indian equity advisory industry will earn in fees this year, as a senior finance executive told one of us.

Desks have already shrunk, and will get smaller still. A decade from now all trading will be electronic. Last year, JPMorgan Chase & Co. Chairman Jamie Dimon famously boasted of a currency trader that made a $100 million bet via a cell phone. That’s the shape of things to come.

In contrast to the early days of the 2008 financial crisis, when tech was culled to cut costs, digital upgrades are now seen as both an operational necessity and a strategic differentiator. Tech spending in global-markets divisions of investment banks has risen to $16.5 billion at the 12 institutions Coalition canvassed, from $13.8 billion in 2013. A chunk of that is maintenance of bulky legacy systems, but Amrit Shahani, a London-based research director at Coalition, says large Wall Street and European banks are each spending around 10 percent, or a giddy $1 billion of their annual revenue, to stay relevant.

Chief technology officers are pushing for even bigger budgets. Their teams are the financial coders who’ve created bespoke systems for Goldman Sachs Group Inc. and the like and who are increasingly sitting on trading floors so that precious minutes aren’t wasted talking to someone in Bangalore when a huge deal blows up. Contract workers from third-party firms like PageGroup Plc’s Michael Page and Robert Walters Plc are getting seconded for a few years to help run trading floors smoothly. Headhunters say a $155,000 salary (excluding bonuses) for someone with eight years’ experience isn’t uncommon in Hong Kong, for instance. It’s not exactly banker comp, but it’s rising much faster.

Beyond the coders are the bankers-cum-traders-cum-tech thinkers.

See:  The world’s new oil and AI’s imminent impact on the future of Fintech

Nomura Holdings Inc. in February hired Jezri Mohideen, a former senior trader at Royal Bank of Scotland Group Plc and Brevan Howard Asset Management, to be its global chief digital officer for investment banking. Based in Dubai, part of his job is to set up artificial-intelligence labs and merge the old and new worlds of asset custody.

Talk to any senior banker or trader and they’ll tell you there’s a lot of soul-searching going on amid threats from fintech and blockchain. The challenges are even more pressing for consumer and private banks, as well as in some corners of corporate lending such as trade finance.

Barclays Plc’s wealth management and investment operations head in the U.K. is Dirk Klee, previously at UBS Group AG’s wealth arm in technology and digital services. Singapore’s DBS Group Holdings Ltd. CEO Piyush Gupta is using open-application-programming interfaces to blur the boundaries between payments and commerce. If he doesn’t do it, Ant Financial’s Alipay or upstarts such as ride-hailing service PT Go-Jek Indonesia surely will. In trade finance, using blockchain to retire paperwork older than Shakespeare’s “Merchant of Venice” is a project both Singapore and Hong Kong are working on.

Continue to the full article --> here


The National Crowdfunding & Fintech Association of Canada (NCFA Canada) is a cross-Canada non-profit actively engaged with cryptocurrency, blockchain, crowdfunding, alternative finance, fintech, P2P, ICO, STO, and online investing stakeholders globally. NCFA Canada provides education, research, industry stewardship, services, and networking opportunities to thousands of members and subscribers and works closely with industry, government, academia, community and eco-system partners and affiliates to create a strong and vibrant crowdfunding and fintech industry. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

Click for News:

 

FCA Regulatory Sanbox | Aug 8, 2018 Find out about the 29 businesses that have been accepted into cohort 4 of the regulatory sandbox to test innovative products, services, business models and delivery mechanisms. We received 69 applications for cohort 4 of the regulatory sandbox. Applications came from a diverse range of firms operating across the financial services sector including in areas such as consumer credit, automated advice and insurance. 29 firms have been accepted to develop towards testing, including 3 firms that were accepted as part of previous cohorts but did not proceed to test. Firms that have been accepted to develop towards testing are listed below, except for one firm that has asked not to be named at this point in time. See:  Fintech: UK Financial Conduct Authority Initiates Consultation on Global Financial Innovation, Partners with 12 International Regulators We have accepted a number of firms that will be testing propositions relating to cryptoassets. We are keen to explore whether, in a controlled environment, consumer benefits can be delivered while effectively managing the associated risks. Tests will be conducted on a short-term and small-scale basis and the FCA is working with each firm to agree testing parameters and ...
Read More
FCA Regulatory sandbox participants - Cohort 4
Progressa Release | Aug 14, 2018 TORONTO, Aug. 14, 2018 (GLOBE NEWSWIRE) -- Progressa, a Vancouver and Toronto based financial technology company, announced today it has successfully closed an $84 million equity and loan funding round. The equity financing was co-led by Canaccord Genuity Corp. and Gravitas Securities Inc. and included Eight Capital and Paradigm Capital as part of the syndicate. The equity capital allows Progressa to unlock a new forward-flow whole loan purchasing program for up to $72 million, with Vancouver-based credit fund Cypress Hills Partners. The equity financing was largely supported by the Canadian investment banks who see the potential for Progressa to complete a go-public transaction (“IPO”) before the end of 2019. Ali Pourdad, Progressa’s co-founder and CEO, commented, “Progressa is proud to have developed first-to-market technology solutions for the Canadian non-prime credit consumer market. Today’s enterprise business partners are utilizing the Company’s Powered by Progressa solutions to improve their customer experience, while enhancing collections recoveries and mitigating significant risk, a true win for both enterprise and Canadian consumers. We are pleased with this broad level of support from Canadian investment banks who see that Progressa is making a positive difference in the lives of Canadians.” See:  ...
Read More
Progressa Closes $84 Million Funding Round Co-Led by Canaccord Genuity and Gravitas Securities, Supporting Record Growth
CNBC Markets | Kate Rooney  | Jul 24, 2018 Fintech company Square is boosting its small-business lending with an eBay partnership. Square Capital, the lending arm of the payment start-up, will be available to eBay sellers looking to expand their business operations. Starting in the third quarter, merchants on the site can apply for a loan as small as $500 and up to $100,000 to help with everything from payroll and inventory to equipment and marketing, the companies announced Tuesday. Square Capital’s focus since launching in 2014 has been on those businesses historically excluded from the larger financial system. The partnership will offer access to capital for those who have been “underserved when seeking funding” and give U.S. sellers a "seamless funding experience," said Jacqueline Reses, head of Square Capital. See:  What we can learn from Ontario’s $3 million loan to small business Lending Loop Surpasses $10M in Loans to Small Businesses Across Canada Small-business lending is an increasingly competitive area in fintech. PayPal, which was once a part of eBay, has a program called Working Capital and provides loans to merchants based on sales history. Amazon also does this for sellers, and began extending credit to small business owners ...
Read More
Square partners with eBay to expand lending for 'underserved' small businesses
CBC | Rob Antle  | Aug 6, 2018 Agency wants to make sure tax laws are being followed When Ottawa looks at cryptocurrencies like bitcoin, it sees problems. Bitcoin can be difficult to track, and there is the potential for "tax noncompliance" through unreported or under-reported income and capital gains. The Canada Revenue Agency "wants to understand how bitcoin and other cryptocurrencies operate in the traditional economic space to ensure that tax laws are being followed," CRA spokesperson Etienne Biram said in an emailed statement. "It is important to note that using digital currency does not exempt consumers from Canadian tax obligations." So CRA commissioned research on businesses that installed bitcoin automated tellers on their premises. A bitcoin ATM is not actually an ATM; it doesn't provide a connection to a customer's bank account. Rather, it's an internet-linked terminal that allows people to buy and sell bitcoins. See:  Learn about crypto payments - Fintech Fridays Podcast: ep1 with Samir Bandali of CoinPayments According to the study that followed — which surveyed 20 businesses — the taxman wanted to understand why a business would install a bitcoin ATM, along with "the perceived value it brings to businesses and their customers, and attitudes towards tax compliance in the ...
Read More
CRA surveyed businesses to find out why they're taking bitcoin ATMs
NCFA Canada | Craig Asano | Aug 10, 2018 We're excited to announce a new NCFA Podcast series called 'FINTECH FRIDAY$' where we sit down with the incredible people in the Fintech community and talk about leading fintech products innovations developments and challenges! FINTECH FRIDAY$ (ep.4): Importance of Smart Contract Safety Nets Host: Manseeb Khan, NCFA, Fintech Fridays show host Guest: Amy Wan, Founder & CEO, Sagewise About this episode: On this episode, our host Manseeb Khan sits down with LA legal tech entrepreneur Amy Wan, the CEO/Founder of Sagewise, a smart contracts dispute resolution startup. They talk about why smart contact safety nets are important, the bridge between legal tech and fintech and how Amy closed out her seed round while being pregnant. Enjoy! Subscribe to the channel and tune in each Friday to check out the latest movers and shakers in fintech. Listen to more Fintech Fridays podcasts here Transcription of Interview Manseeb Khan: Hey Everybody Manseeb Khan and you are tuning in to NCFA newest show Fintech Fridays. Today we have an amazing guest. She's a rock star in the industry. Ladies and gentlemen. Amy Wan is with us today. She's the CEO of Sagewise Amy thanks so ...
Read More
FINTECH FRIDAY$ (ep.4): Importance of Smart Contract Safety Net with Amy Wan, CEO & Founder at Sagewise
University of Cambridge and Ivey Business School | by Tania Ziegler and Michael King | Aug 8, 2018 The 2018 Americas survey of alternative finance conducted the University of Cambridge Centre for Alternative Finance is nearing its closing stages. This global survey of crowdfunding and lending via online platforms is the benchmark for the industry, providing the most comprehensive data on this fintech activity.  In Canada, Cambridge is being assisted by their research partners and the Scotiabank Digital Banking Lab at Ivey Business School.  NCFA is a supportive community partner. Leading platforms should have received an email with details on how to complete the survey from either Tania Ziegler at University of Cambridge or Professor Michael King at Ivey. It is vital that platforms participate in order to demonstrate the importance of this sector to Canadians and to policymakers at the federal and provincial levels. King says, “As we look ahead to the completion of the Federal Financal Sector Review early in 2019, this data will be vital for promoting open banking and other initiatives that support Canada’s fintech sector. When platforms opt out, they are effectively telling policymakers that alternative finance is not important and not worthy of the ...
Read More
Cambridge Survey of Alternative Finance Needs Your Participation!
Fortune | Matt Harris | Aug 8, 2018 Matt Harris is a managing director at Bain Capital Ventures. He is consistently ranked as one of the top investors in fintech, having participated in the space since 2000. I’ve been proven wrong once again. For eight years running, I’ve predicted that fintech investment is going to plateau. Based on the start of 2018, it hasn’t yet. In fact, we saw more than $5.4 billion invested in fintech during the first quarter of the year, with no signs of slowing momentum. For perspective, fintech investment for all of 2014 was just under $4 billion, so that’s “5x” growth in four years. In 2001, per data from Venture Scanner, it was something like $300 million. With that said, this whole “fintech” thing is kind of a charade. As I shared with attendees last month during our annual Fintech CEO Summit, co-hosted together with Nyca Partners, the CEOs in our portfolios don’t actually run “fintech businesses.” They run a payments business or a lending business, or they build investing technologies, or they sell to banks or insurance or real estate companies. Regardless of what VCs tell limited partners, or how media cover the industry, ...
Read More
Fintech Frenzy: Hype or Reality? A Closer Look at 6 Key Sectors
Crowdfund Insider | JD Alois | Aug 7, 2018 The UK Financial Conduct Authority (FCA) has initiated a new consultation that is going beyond the UK borders when it comes to Fintech innovation. Announced today, the FCA has created the Global Financial Innovation Network (GFIN). The multinational group includes regulatory agencies from the US, Singapore, Hong Kong, Australian, France and more. FCA Director of Competition, Christopher Woolard, said the creation of GFIN is an important step for the FCA to be able to better understand and harness the benefits of innovation in financial services for consumers, while managing the potential harm. “The establishment of the GFIN can help share the experiences and knowledge from across different markets, while also providing a platform for innovative firms wishing to scale their propositions via testing in multiple countries.” The members as announced include: Abu Dhabi Global Market (ADGM), Autorité des marchés financiers (AMF) Australian Securities & Investments Commission (ASIC) Central Bank of Bahrain (CBB) Bureau of Consumer Financial Protection (BCFP, USA) Dubai Financial Services Authority (DFSA) Financial Conduct Authority (FCA, UK) Guernsey Financial Services Commission (GFSC) Hong Kong Monetary Authority (HKMA) Monetary Authority of Singapore (MAS) Ontario Securities Commission (OSC, Canada) Consultative Group to ...
Read More
Fintech: UK Financial Conduct Authority Initiates Consultation on Global Financial Innovation, Partners with 12 International Regulators
Globe and Mail | Aug 8, 2018 The 2018 selloff in cryptocurrencies plumbed new depths on Wednesday after the U.S. Securities and Exchange Commission dented enthusiasts’ hopes for an VanEck exchange-traded fund backed by Bitcoin. A broad selloff in coins of all sizes reduced the market value of virtual currencies tracked by Coinmarketcap.com to about $230 billion, the lowest level since November. Digital assets have now lost about $600 billion since crypto-mania peaked in January, equivalent to erasing the entire market value of Visa Inc. twice over. (Shares of the payments processor are trading near a record high.) The SEC postponed its decision on whether to approve the Bitcoin ETF, dealing a blow to bulls who had bet a green light from the regulator would help sustain last month’s tenuous rally. Optimists are counting on the wider adoption of cryptocurrencies to keep prices supported, but regulators and many institutional investors have remained wary amid concerns over security and market manipulation. See:  OSC approves Canada’s first blockchain ETF Bitcoin was down 5.6 pe rcent to $6,484 as of 8:19 a.m. in New York, recovering from a 7 percent drop earlier while extending its 2018 decline to 55 percent, according to Bloomberg ...
Read More
Crypto prices sharply down after SEC postpones Bitcoin ETF decision
Digital Journal PR | Aug 7, 2018 ATLANTA--(Business Wire)--Steady, the income-building platform for the Build-Your-Own (BYO) workforce is already serving 100,000 Americans since it launched last week. The company, which today delivers personalized income-building opportunities, an income tracker, and exclusive relevant discounts, has raised $9 million in Series A financing round led by Propel Venture Partners, with significant participation from Omidyar Network, the impact investing firm established by Pierre Omidyar, the founder of eBay. The funds raised in this round will be used to rapidly scale and extend product features. Other investors include 25Madison, Clocktower Ventures, and Commerce Ventures. Shaquille O’Neal has joined the team as an Advisor and Advocate for the BYO workforce. “The traditional 9-5 career path doesn’t work for everyone, and we’re seeing more and more people set out to make their own way. Steady sees and serves this group, giving them the tools to discover new job opportunities, and the resources to earn more money and take control,” said Shaquille O’Neal. “Helping hardworking folks do and get more is an important mission and I’m excited to be part of it.” Work is changing. Full-time jobs are giving way to more flexible arrangements—shift work, part-time contracts, gigs, ...
Read More
Shaquille O’Neal Joins Steady; Company Raises $9 Million in Series A Round of Funding from Leading Fintech Investors

 

Share

UK Government Ups Crowdfunding without Prospectus to €8 Million – Matching Germany

Share

Crowdfund Insider | | Jul 2, 2018

In a significant policy move by the UK government, the threshold for investment crowdfunding has been upped to €8 million thus matching the recent change by Germany which announced the same funding limit. This increase is due to a change in the Prospectus Directive.

In the UK, there is no limit on how much a crowdfunding platform may raise online. But a rule requiring a full blown prospectus at €5 million has, in effect, created a significant speed bump for investment crowdfunding platforms – one that has rarely been breached due to the cost of creating and complying with a prospectus requirement.

The change announced today, should have an important impact on UK crowdfunding platforms as it will help make the online capital formation industry far more viable as issuers seek larger funding amounts raised via the issuance of securities online. In the early days of UK crowdfunding most issuers raised smaller seed round amounts. Today, issuers span a far wider range of funding requirements from seed stage to scale up. Frequently, these offerings are done in partnership with professional investors such as VCs or experienced angels.

See: 

The industry leadership organization, the UK Crowdfunding Association (UKCFA), welcomed the UK government’s decision to change the rule – a change that becomes actionable almost immediately – on July 21st.

Investment crowdfunding platforms, both debt and equity, have been increasing the scale and scope of investment offers with many platforms already consistently raising the maximum €5 million for SME’s and infrastructure projects in the UK. The extension is said to enable a new age of crowdfunding for larger businesses and tackle more significant infrastructure projects in a diverse sector of industry.

A spokesperson for the UKCFA shared a statement with CI:

“Our members are already working now on investment offers which could take advantage of this opportunity for larger, more efficient capital raising through investment based crowdfunding without compromising on levels of due diligence. The economics of the previous threshold no longer added up, creating a distortion in the market which has now been addressed. This means that a new sector of ‘scale up’ businesses will be able to benefit from the option of choosing crowdfunding as a route to funding their growth and success.  It also helps maintain the UK’s competitive position as a great place to start and scale a business.”

Continue to the full article --> here


Click for News:

 

FCA Regulatory Sanbox | Aug 8, 2018 Find out about the 29 businesses that have been accepted into cohort 4 of the regulatory sandbox to test innovative products, services, business models and delivery mechanisms. We received 69 applications for cohort 4 of the regulatory sandbox. Applications came from a diverse range of firms operating across the financial services sector including in areas such as consumer credit, automated advice and insurance. 29 firms have been accepted to develop towards testing, including 3 firms that were accepted as part of previous cohorts but did not proceed to test. Firms that have been accepted to develop towards testing are listed below, except for one firm that has asked not to be named at this point in time. See:  Fintech: UK Financial Conduct Authority Initiates Consultation on Global Financial Innovation, Partners with 12 International Regulators We have accepted a number of firms that will be testing propositions relating to cryptoassets. We are keen to explore whether, in a controlled environment, consumer benefits can be delivered while effectively managing the associated risks. Tests will be conducted on a short-term and small-scale basis and the FCA is working with each firm to agree testing parameters and ...
Read More
FCA Regulatory sandbox participants - Cohort 4
Progressa Release | Aug 14, 2018 TORONTO, Aug. 14, 2018 (GLOBE NEWSWIRE) -- Progressa, a Vancouver and Toronto based financial technology company, announced today it has successfully closed an $84 million equity and loan funding round. The equity financing was co-led by Canaccord Genuity Corp. and Gravitas Securities Inc. and included Eight Capital and Paradigm Capital as part of the syndicate. The equity capital allows Progressa to unlock a new forward-flow whole loan purchasing program for up to $72 million, with Vancouver-based credit fund Cypress Hills Partners. The equity financing was largely supported by the Canadian investment banks who see the potential for Progressa to complete a go-public transaction (“IPO”) before the end of 2019. Ali Pourdad, Progressa’s co-founder and CEO, commented, “Progressa is proud to have developed first-to-market technology solutions for the Canadian non-prime credit consumer market. Today’s enterprise business partners are utilizing the Company’s Powered by Progressa solutions to improve their customer experience, while enhancing collections recoveries and mitigating significant risk, a true win for both enterprise and Canadian consumers. We are pleased with this broad level of support from Canadian investment banks who see that Progressa is making a positive difference in the lives of Canadians.” See:  ...
Read More
Progressa Closes $84 Million Funding Round Co-Led by Canaccord Genuity and Gravitas Securities, Supporting Record Growth
CNBC Markets | Kate Rooney  | Jul 24, 2018 Fintech company Square is boosting its small-business lending with an eBay partnership. Square Capital, the lending arm of the payment start-up, will be available to eBay sellers looking to expand their business operations. Starting in the third quarter, merchants on the site can apply for a loan as small as $500 and up to $100,000 to help with everything from payroll and inventory to equipment and marketing, the companies announced Tuesday. Square Capital’s focus since launching in 2014 has been on those businesses historically excluded from the larger financial system. The partnership will offer access to capital for those who have been “underserved when seeking funding” and give U.S. sellers a "seamless funding experience," said Jacqueline Reses, head of Square Capital. See:  What we can learn from Ontario’s $3 million loan to small business Lending Loop Surpasses $10M in Loans to Small Businesses Across Canada Small-business lending is an increasingly competitive area in fintech. PayPal, which was once a part of eBay, has a program called Working Capital and provides loans to merchants based on sales history. Amazon also does this for sellers, and began extending credit to small business owners ...
Read More
Square partners with eBay to expand lending for 'underserved' small businesses
CBC | Rob Antle  | Aug 6, 2018 Agency wants to make sure tax laws are being followed When Ottawa looks at cryptocurrencies like bitcoin, it sees problems. Bitcoin can be difficult to track, and there is the potential for "tax noncompliance" through unreported or under-reported income and capital gains. The Canada Revenue Agency "wants to understand how bitcoin and other cryptocurrencies operate in the traditional economic space to ensure that tax laws are being followed," CRA spokesperson Etienne Biram said in an emailed statement. "It is important to note that using digital currency does not exempt consumers from Canadian tax obligations." So CRA commissioned research on businesses that installed bitcoin automated tellers on their premises. A bitcoin ATM is not actually an ATM; it doesn't provide a connection to a customer's bank account. Rather, it's an internet-linked terminal that allows people to buy and sell bitcoins. See:  Learn about crypto payments - Fintech Fridays Podcast: ep1 with Samir Bandali of CoinPayments According to the study that followed — which surveyed 20 businesses — the taxman wanted to understand why a business would install a bitcoin ATM, along with "the perceived value it brings to businesses and their customers, and attitudes towards tax compliance in the ...
Read More
CRA surveyed businesses to find out why they're taking bitcoin ATMs
NCFA Canada | Craig Asano | Aug 10, 2018 We're excited to announce a new NCFA Podcast series called 'FINTECH FRIDAY$' where we sit down with the incredible people in the Fintech community and talk about leading fintech products innovations developments and challenges! FINTECH FRIDAY$ (ep.4): Importance of Smart Contract Safety Nets Host: Manseeb Khan, NCFA, Fintech Fridays show host Guest: Amy Wan, Founder & CEO, Sagewise About this episode: On this episode, our host Manseeb Khan sits down with LA legal tech entrepreneur Amy Wan, the CEO/Founder of Sagewise, a smart contracts dispute resolution startup. They talk about why smart contact safety nets are important, the bridge between legal tech and fintech and how Amy closed out her seed round while being pregnant. Enjoy! Subscribe to the channel and tune in each Friday to check out the latest movers and shakers in fintech. Listen to more Fintech Fridays podcasts here Transcription of Interview Manseeb Khan: Hey Everybody Manseeb Khan and you are tuning in to NCFA newest show Fintech Fridays. Today we have an amazing guest. She's a rock star in the industry. Ladies and gentlemen. Amy Wan is with us today. She's the CEO of Sagewise Amy thanks so ...
Read More
FINTECH FRIDAY$ (ep.4): Importance of Smart Contract Safety Net with Amy Wan, CEO & Founder at Sagewise
University of Cambridge and Ivey Business School | by Tania Ziegler and Michael King | Aug 8, 2018 The 2018 Americas survey of alternative finance conducted the University of Cambridge Centre for Alternative Finance is nearing its closing stages. This global survey of crowdfunding and lending via online platforms is the benchmark for the industry, providing the most comprehensive data on this fintech activity.  In Canada, Cambridge is being assisted by their research partners and the Scotiabank Digital Banking Lab at Ivey Business School.  NCFA is a supportive community partner. Leading platforms should have received an email with details on how to complete the survey from either Tania Ziegler at University of Cambridge or Professor Michael King at Ivey. It is vital that platforms participate in order to demonstrate the importance of this sector to Canadians and to policymakers at the federal and provincial levels. King says, “As we look ahead to the completion of the Federal Financal Sector Review early in 2019, this data will be vital for promoting open banking and other initiatives that support Canada’s fintech sector. When platforms opt out, they are effectively telling policymakers that alternative finance is not important and not worthy of the ...
Read More
Cambridge Survey of Alternative Finance Needs Your Participation!
Fortune | Matt Harris | Aug 8, 2018 Matt Harris is a managing director at Bain Capital Ventures. He is consistently ranked as one of the top investors in fintech, having participated in the space since 2000. I’ve been proven wrong once again. For eight years running, I’ve predicted that fintech investment is going to plateau. Based on the start of 2018, it hasn’t yet. In fact, we saw more than $5.4 billion invested in fintech during the first quarter of the year, with no signs of slowing momentum. For perspective, fintech investment for all of 2014 was just under $4 billion, so that’s “5x” growth in four years. In 2001, per data from Venture Scanner, it was something like $300 million. With that said, this whole “fintech” thing is kind of a charade. As I shared with attendees last month during our annual Fintech CEO Summit, co-hosted together with Nyca Partners, the CEOs in our portfolios don’t actually run “fintech businesses.” They run a payments business or a lending business, or they build investing technologies, or they sell to banks or insurance or real estate companies. Regardless of what VCs tell limited partners, or how media cover the industry, ...
Read More
Fintech Frenzy: Hype or Reality? A Closer Look at 6 Key Sectors
Crowdfund Insider | JD Alois | Aug 7, 2018 The UK Financial Conduct Authority (FCA) has initiated a new consultation that is going beyond the UK borders when it comes to Fintech innovation. Announced today, the FCA has created the Global Financial Innovation Network (GFIN). The multinational group includes regulatory agencies from the US, Singapore, Hong Kong, Australian, France and more. FCA Director of Competition, Christopher Woolard, said the creation of GFIN is an important step for the FCA to be able to better understand and harness the benefits of innovation in financial services for consumers, while managing the potential harm. “The establishment of the GFIN can help share the experiences and knowledge from across different markets, while also providing a platform for innovative firms wishing to scale their propositions via testing in multiple countries.” The members as announced include: Abu Dhabi Global Market (ADGM), Autorité des marchés financiers (AMF) Australian Securities & Investments Commission (ASIC) Central Bank of Bahrain (CBB) Bureau of Consumer Financial Protection (BCFP, USA) Dubai Financial Services Authority (DFSA) Financial Conduct Authority (FCA, UK) Guernsey Financial Services Commission (GFSC) Hong Kong Monetary Authority (HKMA) Monetary Authority of Singapore (MAS) Ontario Securities Commission (OSC, Canada) Consultative Group to ...
Read More
Fintech: UK Financial Conduct Authority Initiates Consultation on Global Financial Innovation, Partners with 12 International Regulators
Globe and Mail | Aug 8, 2018 The 2018 selloff in cryptocurrencies plumbed new depths on Wednesday after the U.S. Securities and Exchange Commission dented enthusiasts’ hopes for an VanEck exchange-traded fund backed by Bitcoin. A broad selloff in coins of all sizes reduced the market value of virtual currencies tracked by Coinmarketcap.com to about $230 billion, the lowest level since November. Digital assets have now lost about $600 billion since crypto-mania peaked in January, equivalent to erasing the entire market value of Visa Inc. twice over. (Shares of the payments processor are trading near a record high.) The SEC postponed its decision on whether to approve the Bitcoin ETF, dealing a blow to bulls who had bet a green light from the regulator would help sustain last month’s tenuous rally. Optimists are counting on the wider adoption of cryptocurrencies to keep prices supported, but regulators and many institutional investors have remained wary amid concerns over security and market manipulation. See:  OSC approves Canada’s first blockchain ETF Bitcoin was down 5.6 pe rcent to $6,484 as of 8:19 a.m. in New York, recovering from a 7 percent drop earlier while extending its 2018 decline to 55 percent, according to Bloomberg ...
Read More
Crypto prices sharply down after SEC postpones Bitcoin ETF decision
Digital Journal PR | Aug 7, 2018 ATLANTA--(Business Wire)--Steady, the income-building platform for the Build-Your-Own (BYO) workforce is already serving 100,000 Americans since it launched last week. The company, which today delivers personalized income-building opportunities, an income tracker, and exclusive relevant discounts, has raised $9 million in Series A financing round led by Propel Venture Partners, with significant participation from Omidyar Network, the impact investing firm established by Pierre Omidyar, the founder of eBay. The funds raised in this round will be used to rapidly scale and extend product features. Other investors include 25Madison, Clocktower Ventures, and Commerce Ventures. Shaquille O’Neal has joined the team as an Advisor and Advocate for the BYO workforce. “The traditional 9-5 career path doesn’t work for everyone, and we’re seeing more and more people set out to make their own way. Steady sees and serves this group, giving them the tools to discover new job opportunities, and the resources to earn more money and take control,” said Shaquille O’Neal. “Helping hardworking folks do and get more is an important mission and I’m excited to be part of it.” Work is changing. Full-time jobs are giving way to more flexible arrangements—shift work, part-time contracts, gigs, ...
Read More
Shaquille O’Neal Joins Steady; Company Raises $9 Million in Series A Round of Funding from Leading Fintech Investors

 


The National Crowdfunding & Fintech Association of Canada (NCFA Canada) is a cross-Canada non-profit actively engaged with cryptocurrency, blockchain, crowdfunding, alternative finance, fintech, P2P, ICO, STO, and online investing stakeholders globally. NCFA Canada provides education, research, industry stewardship, services, and networking opportunities to thousands of members and subscribers and works closely with industry, government, academia, community and eco-system partners and affiliates to create a strong and vibrant crowdfunding and fintech industry. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

Share

Etherparty Announces Winners, Projects Receive Crowdfund Package Valued at USD $100K

Share

Etherparty | Jul 3, 2019

VANCOUVER, July 3, 2018 /CNW/ - Canadian blockchain technology company Etherparty Smart Contracts, Inc. ("Etherparty"), provider of smart contract software solutions for enterprise and everyday use on the world's most popular blockchains, is proud to announce—and congratulate—the winning entries in the Rocket Three for Free contest, which initially kicked off in April.

The three winners, in alphabetical order, are: Covalent, Now Art and Vanyx.

"The contest received a wide range of ideas, new and exciting concepts. Our contest winners spoke especially to innovation and to making a difference and that's the kind of initiatives we want to support, now and into the future," said CEO at Etherparty, Kevin Hobbs.

The total crowdfund package is valued at around USD $100,000. Each project is awarded with token and crowdfund smart contracts, which are part of Rocket, Etherparty's packaged software solution for cryptocurrency-based crowdfunding. In addition, each project will be offered consulting support and token sale guidance, as needed, throughout the process.

Covalent indexes blockchain transaction data, which is composed of over 70,000 smart contracts and 500 million contract executions across seven different blockchains.

"Having access to Etherparty's triple-verified crowdfunding smart contracts is a foundational piece of tech that we don't have to build in-house and so we can focus on our business instead," said Ganesh Swami, CEO of Vancouver, B.C.-based Covalent.

NOW Art is a Los Angeles, California-based women's run organization of curators, producers and artists servicing the increasing need of curating, producing and expanding public art. The organization will be using blockchain technology to make art more accessible and transparent for the public/private sector, using its coin as a tool to create and place art in public spaces.

"NOW Art is very excited to bridge the gap between smart contract technology and the art industry thanking Etherparty and its software Rocket. Our organization is excited to implement this new technology and enter a new frontier as it will enhance cultural production and access to art," said Carmen Zella, director at NOW Art.

More:  Etherparty Announces Global Crowdfunding Contest Valued at $300,000

Vanyx, another Vancouver, B.C.-based company, provides instant and private transactions on the blockchain. Built on top of proven technologies, Vanyx uses a hybrid architecture incorporating DAG and blockchain technology.

"We are excited to be a part of Etherparty's crowdfunding platform. Up to this point, we have been purely focused on building a great project — Rocket will greatly accelerate the go-to-market process," said Josh Ma, co-founder of Vanyx.

Visit rocket.etherparty.com for more information on user-friendly token crowdsale creator, Rocket. See etherparty.com to view news and information on Etherparty and its other software products.

About Etherparty
Etherparty is a blockchain platform working to enable a connected and inclusive world by building easy-to-use, versatile and intuitive smart contract solutions. Visit: etherparty.com.

About Rocket
Rocket is a user-friendly token creation platform designed for entrepreneurs and creatives. Follow a step-by-step process, paired with industry-leading customer support, to launch and track a globally-accessible token crowdsale. Rocket is the path to achieving your fundraising goals. Visit: rocket.etherparty.com to learn more.

SOURCE Etherparty release


 

Click for News:

 

FCA Regulatory Sanbox | Aug 8, 2018 Find out about the 29 businesses that have been accepted into cohort 4 of the regulatory sandbox to test innovative products, services, business models and delivery mechanisms. We received 69 applications for cohort 4 of the regulatory sandbox. Applications came from a diverse range of firms operating across the financial services sector including in areas such as consumer credit, automated advice and insurance. 29 firms have been accepted to develop towards testing, including 3 firms that were accepted as part of previous cohorts but did not proceed to test. Firms that have been accepted to develop towards testing are listed below, except for one firm that has asked not to be named at this point in time. See:  Fintech: UK Financial Conduct Authority Initiates Consultation on Global Financial Innovation, Partners with 12 International Regulators We have accepted a number of firms that will be testing propositions relating to cryptoassets. We are keen to explore whether, in a controlled environment, consumer benefits can be delivered while effectively managing the associated risks. Tests will be conducted on a short-term and small-scale basis and the FCA is working with each firm to agree testing parameters and ...
Read More
FCA Regulatory sandbox participants - Cohort 4
Progressa Release | Aug 14, 2018 TORONTO, Aug. 14, 2018 (GLOBE NEWSWIRE) -- Progressa, a Vancouver and Toronto based financial technology company, announced today it has successfully closed an $84 million equity and loan funding round. The equity financing was co-led by Canaccord Genuity Corp. and Gravitas Securities Inc. and included Eight Capital and Paradigm Capital as part of the syndicate. The equity capital allows Progressa to unlock a new forward-flow whole loan purchasing program for up to $72 million, with Vancouver-based credit fund Cypress Hills Partners. The equity financing was largely supported by the Canadian investment banks who see the potential for Progressa to complete a go-public transaction (“IPO”) before the end of 2019. Ali Pourdad, Progressa’s co-founder and CEO, commented, “Progressa is proud to have developed first-to-market technology solutions for the Canadian non-prime credit consumer market. Today’s enterprise business partners are utilizing the Company’s Powered by Progressa solutions to improve their customer experience, while enhancing collections recoveries and mitigating significant risk, a true win for both enterprise and Canadian consumers. We are pleased with this broad level of support from Canadian investment banks who see that Progressa is making a positive difference in the lives of Canadians.” See:  ...
Read More
Progressa Closes $84 Million Funding Round Co-Led by Canaccord Genuity and Gravitas Securities, Supporting Record Growth
CNBC Markets | Kate Rooney  | Jul 24, 2018 Fintech company Square is boosting its small-business lending with an eBay partnership. Square Capital, the lending arm of the payment start-up, will be available to eBay sellers looking to expand their business operations. Starting in the third quarter, merchants on the site can apply for a loan as small as $500 and up to $100,000 to help with everything from payroll and inventory to equipment and marketing, the companies announced Tuesday. Square Capital’s focus since launching in 2014 has been on those businesses historically excluded from the larger financial system. The partnership will offer access to capital for those who have been “underserved when seeking funding” and give U.S. sellers a "seamless funding experience," said Jacqueline Reses, head of Square Capital. See:  What we can learn from Ontario’s $3 million loan to small business Lending Loop Surpasses $10M in Loans to Small Businesses Across Canada Small-business lending is an increasingly competitive area in fintech. PayPal, which was once a part of eBay, has a program called Working Capital and provides loans to merchants based on sales history. Amazon also does this for sellers, and began extending credit to small business owners ...
Read More
Square partners with eBay to expand lending for 'underserved' small businesses
CBC | Rob Antle  | Aug 6, 2018 Agency wants to make sure tax laws are being followed When Ottawa looks at cryptocurrencies like bitcoin, it sees problems. Bitcoin can be difficult to track, and there is the potential for "tax noncompliance" through unreported or under-reported income and capital gains. The Canada Revenue Agency "wants to understand how bitcoin and other cryptocurrencies operate in the traditional economic space to ensure that tax laws are being followed," CRA spokesperson Etienne Biram said in an emailed statement. "It is important to note that using digital currency does not exempt consumers from Canadian tax obligations." So CRA commissioned research on businesses that installed bitcoin automated tellers on their premises. A bitcoin ATM is not actually an ATM; it doesn't provide a connection to a customer's bank account. Rather, it's an internet-linked terminal that allows people to buy and sell bitcoins. See:  Learn about crypto payments - Fintech Fridays Podcast: ep1 with Samir Bandali of CoinPayments According to the study that followed — which surveyed 20 businesses — the taxman wanted to understand why a business would install a bitcoin ATM, along with "the perceived value it brings to businesses and their customers, and attitudes towards tax compliance in the ...
Read More
CRA surveyed businesses to find out why they're taking bitcoin ATMs
NCFA Canada | Craig Asano | Aug 10, 2018 We're excited to announce a new NCFA Podcast series called 'FINTECH FRIDAY$' where we sit down with the incredible people in the Fintech community and talk about leading fintech products innovations developments and challenges! FINTECH FRIDAY$ (ep.4): Importance of Smart Contract Safety Nets Host: Manseeb Khan, NCFA, Fintech Fridays show host Guest: Amy Wan, Founder & CEO, Sagewise About this episode: On this episode, our host Manseeb Khan sits down with LA legal tech entrepreneur Amy Wan, the CEO/Founder of Sagewise, a smart contracts dispute resolution startup. They talk about why smart contact safety nets are important, the bridge between legal tech and fintech and how Amy closed out her seed round while being pregnant. Enjoy! Subscribe to the channel and tune in each Friday to check out the latest movers and shakers in fintech. Listen to more Fintech Fridays podcasts here Transcription of Interview Manseeb Khan: Hey Everybody Manseeb Khan and you are tuning in to NCFA newest show Fintech Fridays. Today we have an amazing guest. She's a rock star in the industry. Ladies and gentlemen. Amy Wan is with us today. She's the CEO of Sagewise Amy thanks so ...
Read More
FINTECH FRIDAY$ (ep.4): Importance of Smart Contract Safety Net with Amy Wan, CEO & Founder at Sagewise
University of Cambridge and Ivey Business School | by Tania Ziegler and Michael King | Aug 8, 2018 The 2018 Americas survey of alternative finance conducted the University of Cambridge Centre for Alternative Finance is nearing its closing stages. This global survey of crowdfunding and lending via online platforms is the benchmark for the industry, providing the most comprehensive data on this fintech activity.  In Canada, Cambridge is being assisted by their research partners and the Scotiabank Digital Banking Lab at Ivey Business School.  NCFA is a supportive community partner. Leading platforms should have received an email with details on how to complete the survey from either Tania Ziegler at University of Cambridge or Professor Michael King at Ivey. It is vital that platforms participate in order to demonstrate the importance of this sector to Canadians and to policymakers at the federal and provincial levels. King says, “As we look ahead to the completion of the Federal Financal Sector Review early in 2019, this data will be vital for promoting open banking and other initiatives that support Canada’s fintech sector. When platforms opt out, they are effectively telling policymakers that alternative finance is not important and not worthy of the ...
Read More
Cambridge Survey of Alternative Finance Needs Your Participation!
Fortune | Matt Harris | Aug 8, 2018 Matt Harris is a managing director at Bain Capital Ventures. He is consistently ranked as one of the top investors in fintech, having participated in the space since 2000. I’ve been proven wrong once again. For eight years running, I’ve predicted that fintech investment is going to plateau. Based on the start of 2018, it hasn’t yet. In fact, we saw more than $5.4 billion invested in fintech during the first quarter of the year, with no signs of slowing momentum. For perspective, fintech investment for all of 2014 was just under $4 billion, so that’s “5x” growth in four years. In 2001, per data from Venture Scanner, it was something like $300 million. With that said, this whole “fintech” thing is kind of a charade. As I shared with attendees last month during our annual Fintech CEO Summit, co-hosted together with Nyca Partners, the CEOs in our portfolios don’t actually run “fintech businesses.” They run a payments business or a lending business, or they build investing technologies, or they sell to banks or insurance or real estate companies. Regardless of what VCs tell limited partners, or how media cover the industry, ...
Read More
Fintech Frenzy: Hype or Reality? A Closer Look at 6 Key Sectors
Crowdfund Insider | JD Alois | Aug 7, 2018 The UK Financial Conduct Authority (FCA) has initiated a new consultation that is going beyond the UK borders when it comes to Fintech innovation. Announced today, the FCA has created the Global Financial Innovation Network (GFIN). The multinational group includes regulatory agencies from the US, Singapore, Hong Kong, Australian, France and more. FCA Director of Competition, Christopher Woolard, said the creation of GFIN is an important step for the FCA to be able to better understand and harness the benefits of innovation in financial services for consumers, while managing the potential harm. “The establishment of the GFIN can help share the experiences and knowledge from across different markets, while also providing a platform for innovative firms wishing to scale their propositions via testing in multiple countries.” The members as announced include: Abu Dhabi Global Market (ADGM), Autorité des marchés financiers (AMF) Australian Securities & Investments Commission (ASIC) Central Bank of Bahrain (CBB) Bureau of Consumer Financial Protection (BCFP, USA) Dubai Financial Services Authority (DFSA) Financial Conduct Authority (FCA, UK) Guernsey Financial Services Commission (GFSC) Hong Kong Monetary Authority (HKMA) Monetary Authority of Singapore (MAS) Ontario Securities Commission (OSC, Canada) Consultative Group to ...
Read More
Fintech: UK Financial Conduct Authority Initiates Consultation on Global Financial Innovation, Partners with 12 International Regulators
Globe and Mail | Aug 8, 2018 The 2018 selloff in cryptocurrencies plumbed new depths on Wednesday after the U.S. Securities and Exchange Commission dented enthusiasts’ hopes for an VanEck exchange-traded fund backed by Bitcoin. A broad selloff in coins of all sizes reduced the market value of virtual currencies tracked by Coinmarketcap.com to about $230 billion, the lowest level since November. Digital assets have now lost about $600 billion since crypto-mania peaked in January, equivalent to erasing the entire market value of Visa Inc. twice over. (Shares of the payments processor are trading near a record high.) The SEC postponed its decision on whether to approve the Bitcoin ETF, dealing a blow to bulls who had bet a green light from the regulator would help sustain last month’s tenuous rally. Optimists are counting on the wider adoption of cryptocurrencies to keep prices supported, but regulators and many institutional investors have remained wary amid concerns over security and market manipulation. See:  OSC approves Canada’s first blockchain ETF Bitcoin was down 5.6 pe rcent to $6,484 as of 8:19 a.m. in New York, recovering from a 7 percent drop earlier while extending its 2018 decline to 55 percent, according to Bloomberg ...
Read More
Crypto prices sharply down after SEC postpones Bitcoin ETF decision
Digital Journal PR | Aug 7, 2018 ATLANTA--(Business Wire)--Steady, the income-building platform for the Build-Your-Own (BYO) workforce is already serving 100,000 Americans since it launched last week. The company, which today delivers personalized income-building opportunities, an income tracker, and exclusive relevant discounts, has raised $9 million in Series A financing round led by Propel Venture Partners, with significant participation from Omidyar Network, the impact investing firm established by Pierre Omidyar, the founder of eBay. The funds raised in this round will be used to rapidly scale and extend product features. Other investors include 25Madison, Clocktower Ventures, and Commerce Ventures. Shaquille O’Neal has joined the team as an Advisor and Advocate for the BYO workforce. “The traditional 9-5 career path doesn’t work for everyone, and we’re seeing more and more people set out to make their own way. Steady sees and serves this group, giving them the tools to discover new job opportunities, and the resources to earn more money and take control,” said Shaquille O’Neal. “Helping hardworking folks do and get more is an important mission and I’m excited to be part of it.” Work is changing. Full-time jobs are giving way to more flexible arrangements—shift work, part-time contracts, gigs, ...
Read More
Shaquille O’Neal Joins Steady; Company Raises $9 Million in Series A Round of Funding from Leading Fintech Investors

 


The National Crowdfunding & Fintech Association of Canada (NCFA Canada) is a cross-Canada non-profit actively engaged with cryptocurrency, blockchain, crowdfunding, alternative finance, fintech, P2P, ICO, STO, and online investing stakeholders globally. NCFA Canada provides education, research, industry stewardship, services, and networking opportunities to thousands of members and subscribers and works closely with industry, government, academia, community and eco-system partners and affiliates to create a strong and vibrant crowdfunding and fintech industry. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

Share

Application Deadline Jul 13: Women in Cleantech Challenge: Chance to Win $1 million!

Share

Government of Canada | Natural Resources Canada | Application Deadline Jul

Have a cleantech idea? Apply for our million dollar challenge!

Only 5% of tech companies in Canada are founded by women. Let's change that!

Who are we looking for?

  • You are a woman with a cleantech idea
  • You are looking to build a business
  • You've got your eye on the prize

Pitch us your cleantech idea and win $1 million!

What you get if you win

Five Finalists

Spend the next 2.5 years with $800,000 support to develop your cleantech venture, including:

  • $115,000 a year for living expenses and travel
  • $300,000 worth of expert advice and support from the MaRS Discovery District
  • $250,000 in value for federal labs to work closely with you to test your idea and move it toward commercialization

One Grand Prize Winner

If you win, you will receive $1 million to advance and grow your business

Continue to the full article --> here


Click for News:

 

FCA Regulatory Sanbox | Aug 8, 2018 Find out about the 29 businesses that have been accepted into cohort 4 of the regulatory sandbox to test innovative products, services, business models and delivery mechanisms. We received 69 applications for cohort 4 of the regulatory sandbox. Applications came from a diverse range of firms operating across the financial services sector including in areas such as consumer credit, automated advice and insurance. 29 firms have been accepted to develop towards testing, including 3 firms that were accepted as part of previous cohorts but did not proceed to test. Firms that have been accepted to develop towards testing are listed below, except for one firm that has asked not to be named at this point in time. See:  Fintech: UK Financial Conduct Authority Initiates Consultation on Global Financial Innovation, Partners with 12 International Regulators We have accepted a number of firms that will be testing propositions relating to cryptoassets. We are keen to explore whether, in a controlled environment, consumer benefits can be delivered while effectively managing the associated risks. Tests will be conducted on a short-term and small-scale basis and the FCA is working with each firm to agree testing parameters and ...
Read More
FCA Regulatory sandbox participants - Cohort 4
Progressa Release | Aug 14, 2018 TORONTO, Aug. 14, 2018 (GLOBE NEWSWIRE) -- Progressa, a Vancouver and Toronto based financial technology company, announced today it has successfully closed an $84 million equity and loan funding round. The equity financing was co-led by Canaccord Genuity Corp. and Gravitas Securities Inc. and included Eight Capital and Paradigm Capital as part of the syndicate. The equity capital allows Progressa to unlock a new forward-flow whole loan purchasing program for up to $72 million, with Vancouver-based credit fund Cypress Hills Partners. The equity financing was largely supported by the Canadian investment banks who see the potential for Progressa to complete a go-public transaction (“IPO”) before the end of 2019. Ali Pourdad, Progressa’s co-founder and CEO, commented, “Progressa is proud to have developed first-to-market technology solutions for the Canadian non-prime credit consumer market. Today’s enterprise business partners are utilizing the Company’s Powered by Progressa solutions to improve their customer experience, while enhancing collections recoveries and mitigating significant risk, a true win for both enterprise and Canadian consumers. We are pleased with this broad level of support from Canadian investment banks who see that Progressa is making a positive difference in the lives of Canadians.” See:  ...
Read More
Progressa Closes $84 Million Funding Round Co-Led by Canaccord Genuity and Gravitas Securities, Supporting Record Growth
CNBC Markets | Kate Rooney  | Jul 24, 2018 Fintech company Square is boosting its small-business lending with an eBay partnership. Square Capital, the lending arm of the payment start-up, will be available to eBay sellers looking to expand their business operations. Starting in the third quarter, merchants on the site can apply for a loan as small as $500 and up to $100,000 to help with everything from payroll and inventory to equipment and marketing, the companies announced Tuesday. Square Capital’s focus since launching in 2014 has been on those businesses historically excluded from the larger financial system. The partnership will offer access to capital for those who have been “underserved when seeking funding” and give U.S. sellers a "seamless funding experience," said Jacqueline Reses, head of Square Capital. See:  What we can learn from Ontario’s $3 million loan to small business Lending Loop Surpasses $10M in Loans to Small Businesses Across Canada Small-business lending is an increasingly competitive area in fintech. PayPal, which was once a part of eBay, has a program called Working Capital and provides loans to merchants based on sales history. Amazon also does this for sellers, and began extending credit to small business owners ...
Read More
Square partners with eBay to expand lending for 'underserved' small businesses
CBC | Rob Antle  | Aug 6, 2018 Agency wants to make sure tax laws are being followed When Ottawa looks at cryptocurrencies like bitcoin, it sees problems. Bitcoin can be difficult to track, and there is the potential for "tax noncompliance" through unreported or under-reported income and capital gains. The Canada Revenue Agency "wants to understand how bitcoin and other cryptocurrencies operate in the traditional economic space to ensure that tax laws are being followed," CRA spokesperson Etienne Biram said in an emailed statement. "It is important to note that using digital currency does not exempt consumers from Canadian tax obligations." So CRA commissioned research on businesses that installed bitcoin automated tellers on their premises. A bitcoin ATM is not actually an ATM; it doesn't provide a connection to a customer's bank account. Rather, it's an internet-linked terminal that allows people to buy and sell bitcoins. See:  Learn about crypto payments - Fintech Fridays Podcast: ep1 with Samir Bandali of CoinPayments According to the study that followed — which surveyed 20 businesses — the taxman wanted to understand why a business would install a bitcoin ATM, along with "the perceived value it brings to businesses and their customers, and attitudes towards tax compliance in the ...
Read More
CRA surveyed businesses to find out why they're taking bitcoin ATMs
NCFA Canada | Craig Asano | Aug 10, 2018 We're excited to announce a new NCFA Podcast series called 'FINTECH FRIDAY$' where we sit down with the incredible people in the Fintech community and talk about leading fintech products innovations developments and challenges! FINTECH FRIDAY$ (ep.4): Importance of Smart Contract Safety Nets Host: Manseeb Khan, NCFA, Fintech Fridays show host Guest: Amy Wan, Founder & CEO, Sagewise About this episode: On this episode, our host Manseeb Khan sits down with LA legal tech entrepreneur Amy Wan, the CEO/Founder of Sagewise, a smart contracts dispute resolution startup. They talk about why smart contact safety nets are important, the bridge between legal tech and fintech and how Amy closed out her seed round while being pregnant. Enjoy! Subscribe to the channel and tune in each Friday to check out the latest movers and shakers in fintech. Listen to more Fintech Fridays podcasts here Transcription of Interview Manseeb Khan: Hey Everybody Manseeb Khan and you are tuning in to NCFA newest show Fintech Fridays. Today we have an amazing guest. She's a rock star in the industry. Ladies and gentlemen. Amy Wan is with us today. She's the CEO of Sagewise Amy thanks so ...
Read More
FINTECH FRIDAY$ (ep.4): Importance of Smart Contract Safety Net with Amy Wan, CEO & Founder at Sagewise
University of Cambridge and Ivey Business School | by Tania Ziegler and Michael King | Aug 8, 2018 The 2018 Americas survey of alternative finance conducted the University of Cambridge Centre for Alternative Finance is nearing its closing stages. This global survey of crowdfunding and lending via online platforms is the benchmark for the industry, providing the most comprehensive data on this fintech activity.  In Canada, Cambridge is being assisted by their research partners and the Scotiabank Digital Banking Lab at Ivey Business School.  NCFA is a supportive community partner. Leading platforms should have received an email with details on how to complete the survey from either Tania Ziegler at University of Cambridge or Professor Michael King at Ivey. It is vital that platforms participate in order to demonstrate the importance of this sector to Canadians and to policymakers at the federal and provincial levels. King says, “As we look ahead to the completion of the Federal Financal Sector Review early in 2019, this data will be vital for promoting open banking and other initiatives that support Canada’s fintech sector. When platforms opt out, they are effectively telling policymakers that alternative finance is not important and not worthy of the ...
Read More
Cambridge Survey of Alternative Finance Needs Your Participation!
Fortune | Matt Harris | Aug 8, 2018 Matt Harris is a managing director at Bain Capital Ventures. He is consistently ranked as one of the top investors in fintech, having participated in the space since 2000. I’ve been proven wrong once again. For eight years running, I’ve predicted that fintech investment is going to plateau. Based on the start of 2018, it hasn’t yet. In fact, we saw more than $5.4 billion invested in fintech during the first quarter of the year, with no signs of slowing momentum. For perspective, fintech investment for all of 2014 was just under $4 billion, so that’s “5x” growth in four years. In 2001, per data from Venture Scanner, it was something like $300 million. With that said, this whole “fintech” thing is kind of a charade. As I shared with attendees last month during our annual Fintech CEO Summit, co-hosted together with Nyca Partners, the CEOs in our portfolios don’t actually run “fintech businesses.” They run a payments business or a lending business, or they build investing technologies, or they sell to banks or insurance or real estate companies. Regardless of what VCs tell limited partners, or how media cover the industry, ...
Read More
Fintech Frenzy: Hype or Reality? A Closer Look at 6 Key Sectors
Crowdfund Insider | JD Alois | Aug 7, 2018 The UK Financial Conduct Authority (FCA) has initiated a new consultation that is going beyond the UK borders when it comes to Fintech innovation. Announced today, the FCA has created the Global Financial Innovation Network (GFIN). The multinational group includes regulatory agencies from the US, Singapore, Hong Kong, Australian, France and more. FCA Director of Competition, Christopher Woolard, said the creation of GFIN is an important step for the FCA to be able to better understand and harness the benefits of innovation in financial services for consumers, while managing the potential harm. “The establishment of the GFIN can help share the experiences and knowledge from across different markets, while also providing a platform for innovative firms wishing to scale their propositions via testing in multiple countries.” The members as announced include: Abu Dhabi Global Market (ADGM), Autorité des marchés financiers (AMF) Australian Securities & Investments Commission (ASIC) Central Bank of Bahrain (CBB) Bureau of Consumer Financial Protection (BCFP, USA) Dubai Financial Services Authority (DFSA) Financial Conduct Authority (FCA, UK) Guernsey Financial Services Commission (GFSC) Hong Kong Monetary Authority (HKMA) Monetary Authority of Singapore (MAS) Ontario Securities Commission (OSC, Canada) Consultative Group to ...
Read More
Fintech: UK Financial Conduct Authority Initiates Consultation on Global Financial Innovation, Partners with 12 International Regulators
Globe and Mail | Aug 8, 2018 The 2018 selloff in cryptocurrencies plumbed new depths on Wednesday after the U.S. Securities and Exchange Commission dented enthusiasts’ hopes for an VanEck exchange-traded fund backed by Bitcoin. A broad selloff in coins of all sizes reduced the market value of virtual currencies tracked by Coinmarketcap.com to about $230 billion, the lowest level since November. Digital assets have now lost about $600 billion since crypto-mania peaked in January, equivalent to erasing the entire market value of Visa Inc. twice over. (Shares of the payments processor are trading near a record high.) The SEC postponed its decision on whether to approve the Bitcoin ETF, dealing a blow to bulls who had bet a green light from the regulator would help sustain last month’s tenuous rally. Optimists are counting on the wider adoption of cryptocurrencies to keep prices supported, but regulators and many institutional investors have remained wary amid concerns over security and market manipulation. See:  OSC approves Canada’s first blockchain ETF Bitcoin was down 5.6 pe rcent to $6,484 as of 8:19 a.m. in New York, recovering from a 7 percent drop earlier while extending its 2018 decline to 55 percent, according to Bloomberg ...
Read More
Crypto prices sharply down after SEC postpones Bitcoin ETF decision
Digital Journal PR | Aug 7, 2018 ATLANTA--(Business Wire)--Steady, the income-building platform for the Build-Your-Own (BYO) workforce is already serving 100,000 Americans since it launched last week. The company, which today delivers personalized income-building opportunities, an income tracker, and exclusive relevant discounts, has raised $9 million in Series A financing round led by Propel Venture Partners, with significant participation from Omidyar Network, the impact investing firm established by Pierre Omidyar, the founder of eBay. The funds raised in this round will be used to rapidly scale and extend product features. Other investors include 25Madison, Clocktower Ventures, and Commerce Ventures. Shaquille O’Neal has joined the team as an Advisor and Advocate for the BYO workforce. “The traditional 9-5 career path doesn’t work for everyone, and we’re seeing more and more people set out to make their own way. Steady sees and serves this group, giving them the tools to discover new job opportunities, and the resources to earn more money and take control,” said Shaquille O’Neal. “Helping hardworking folks do and get more is an important mission and I’m excited to be part of it.” Work is changing. Full-time jobs are giving way to more flexible arrangements—shift work, part-time contracts, gigs, ...
Read More
Shaquille O’Neal Joins Steady; Company Raises $9 Million in Series A Round of Funding from Leading Fintech Investors

 


The National Crowdfunding & Fintech Association of Canada (NCFA Canada) is a cross-Canada non-profit actively engaged with cryptocurrency, blockchain, crowdfunding, alternative finance, fintech, P2P, ICO, STO, and online investing stakeholders globally. NCFA Canada provides education, research, industry stewardship, services, and networking opportunities to thousands of members and subscribers and works closely with industry, government, academia, community and eco-system partners and affiliates to create a strong and vibrant crowdfunding and fintech industry. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

Share

The TD Ready Challenge – Application Deadline July 27

Share

The TD Ready Challenge

The TD Ready Challenge is an annual North American initiative that has up to ten $1 million (CAD) grants available to catalyze innovative solutions for a changing world. Recipients will be organizations that have scalable solutions that will help open doors for a more inclusive and sustainable tomorrow.

This new signature initiative, created and funded by TD, is a key component to delivering on the bank’s new corporate citizenship platform, The Ready Commitment.

Each year, the TD Ready Challenge will invite eligible organizations to submit applications that offer solutions for a problem statement that is connected to one of the four drivers of change of the Ready Commitment: Financial Security, Vibrant Planet, Connected Communities and Better Health. The 2018 TD Ready Challenge Problem Statement focuses on Financial Security.

See:  Most small business owners can’t pass a basic financial test

The 2018 Problem Statement: Financial Security

Technological acceleration is both an opportunity and a threat to financial security. The digital age has transformed the nature of work as employers continue to invest in technology and automation. In addition, part-time contracts and the gig economy have increasingly made income volatility a reality for many. These shifts create an urgent need to rethink skills development that will increase income stability and nurture a more inclusive economy.

How can your organization address the problem statement?

We know that the changing nature of work is a growing issue, but we’re confident that there are scalable solutions. That is why the 2018 TD Ready Challenge seeks to provide financial support to up to 10 eligible organizations with innovative solutions focused on helping create greater income stability in a changing world. TD welcomes solutions that will help prepare people for the economy of the future so that everyone can thrive.

The Grants:

Up to 10 one-time (CAD) $1 million grants are available.

Application Deadline:  July 27,2018

View application requirements and details --> here

 

Click for News:

 

FCA Regulatory Sanbox | Aug 8, 2018 Find out about the 29 businesses that have been accepted into cohort 4 of the regulatory sandbox to test innovative products, services, business models and delivery mechanisms. We received 69 applications for cohort 4 of the regulatory sandbox. Applications came from a diverse range of firms operating across the financial services sector including in areas such as consumer credit, automated advice and insurance. 29 firms have been accepted to develop towards testing, including 3 firms that were accepted as part of previous cohorts but did not proceed to test. Firms that have been accepted to develop towards testing are listed below, except for one firm that has asked not to be named at this point in time. See:  Fintech: UK Financial Conduct Authority Initiates Consultation on Global Financial Innovation, Partners with 12 International Regulators We have accepted a number of firms that will be testing propositions relating to cryptoassets. We are keen to explore whether, in a controlled environment, consumer benefits can be delivered while effectively managing the associated risks. Tests will be conducted on a short-term and small-scale basis and the FCA is working with each firm to agree testing parameters and ...
Read More
FCA Regulatory sandbox participants - Cohort 4
Progressa Release | Aug 14, 2018 TORONTO, Aug. 14, 2018 (GLOBE NEWSWIRE) -- Progressa, a Vancouver and Toronto based financial technology company, announced today it has successfully closed an $84 million equity and loan funding round. The equity financing was co-led by Canaccord Genuity Corp. and Gravitas Securities Inc. and included Eight Capital and Paradigm Capital as part of the syndicate. The equity capital allows Progressa to unlock a new forward-flow whole loan purchasing program for up to $72 million, with Vancouver-based credit fund Cypress Hills Partners. The equity financing was largely supported by the Canadian investment banks who see the potential for Progressa to complete a go-public transaction (“IPO”) before the end of 2019. Ali Pourdad, Progressa’s co-founder and CEO, commented, “Progressa is proud to have developed first-to-market technology solutions for the Canadian non-prime credit consumer market. Today’s enterprise business partners are utilizing the Company’s Powered by Progressa solutions to improve their customer experience, while enhancing collections recoveries and mitigating significant risk, a true win for both enterprise and Canadian consumers. We are pleased with this broad level of support from Canadian investment banks who see that Progressa is making a positive difference in the lives of Canadians.” See:  ...
Read More
Progressa Closes $84 Million Funding Round Co-Led by Canaccord Genuity and Gravitas Securities, Supporting Record Growth
CNBC Markets | Kate Rooney  | Jul 24, 2018 Fintech company Square is boosting its small-business lending with an eBay partnership. Square Capital, the lending arm of the payment start-up, will be available to eBay sellers looking to expand their business operations. Starting in the third quarter, merchants on the site can apply for a loan as small as $500 and up to $100,000 to help with everything from payroll and inventory to equipment and marketing, the companies announced Tuesday. Square Capital’s focus since launching in 2014 has been on those businesses historically excluded from the larger financial system. The partnership will offer access to capital for those who have been “underserved when seeking funding” and give U.S. sellers a "seamless funding experience," said Jacqueline Reses, head of Square Capital. See:  What we can learn from Ontario’s $3 million loan to small business Lending Loop Surpasses $10M in Loans to Small Businesses Across Canada Small-business lending is an increasingly competitive area in fintech. PayPal, which was once a part of eBay, has a program called Working Capital and provides loans to merchants based on sales history. Amazon also does this for sellers, and began extending credit to small business owners ...
Read More
Square partners with eBay to expand lending for 'underserved' small businesses
CBC | Rob Antle  | Aug 6, 2018 Agency wants to make sure tax laws are being followed When Ottawa looks at cryptocurrencies like bitcoin, it sees problems. Bitcoin can be difficult to track, and there is the potential for "tax noncompliance" through unreported or under-reported income and capital gains. The Canada Revenue Agency "wants to understand how bitcoin and other cryptocurrencies operate in the traditional economic space to ensure that tax laws are being followed," CRA spokesperson Etienne Biram said in an emailed statement. "It is important to note that using digital currency does not exempt consumers from Canadian tax obligations." So CRA commissioned research on businesses that installed bitcoin automated tellers on their premises. A bitcoin ATM is not actually an ATM; it doesn't provide a connection to a customer's bank account. Rather, it's an internet-linked terminal that allows people to buy and sell bitcoins. See:  Learn about crypto payments - Fintech Fridays Podcast: ep1 with Samir Bandali of CoinPayments According to the study that followed — which surveyed 20 businesses — the taxman wanted to understand why a business would install a bitcoin ATM, along with "the perceived value it brings to businesses and their customers, and attitudes towards tax compliance in the ...
Read More
CRA surveyed businesses to find out why they're taking bitcoin ATMs
NCFA Canada | Craig Asano | Aug 10, 2018 We're excited to announce a new NCFA Podcast series called 'FINTECH FRIDAY$' where we sit down with the incredible people in the Fintech community and talk about leading fintech products innovations developments and challenges! FINTECH FRIDAY$ (ep.4): Importance of Smart Contract Safety Nets Host: Manseeb Khan, NCFA, Fintech Fridays show host Guest: Amy Wan, Founder & CEO, Sagewise About this episode: On this episode, our host Manseeb Khan sits down with LA legal tech entrepreneur Amy Wan, the CEO/Founder of Sagewise, a smart contracts dispute resolution startup. They talk about why smart contact safety nets are important, the bridge between legal tech and fintech and how Amy closed out her seed round while being pregnant. Enjoy! Subscribe to the channel and tune in each Friday to check out the latest movers and shakers in fintech. Listen to more Fintech Fridays podcasts here Transcription of Interview Manseeb Khan: Hey Everybody Manseeb Khan and you are tuning in to NCFA newest show Fintech Fridays. Today we have an amazing guest. She's a rock star in the industry. Ladies and gentlemen. Amy Wan is with us today. She's the CEO of Sagewise Amy thanks so ...
Read More
FINTECH FRIDAY$ (ep.4): Importance of Smart Contract Safety Net with Amy Wan, CEO & Founder at Sagewise
University of Cambridge and Ivey Business School | by Tania Ziegler and Michael King | Aug 8, 2018 The 2018 Americas survey of alternative finance conducted the University of Cambridge Centre for Alternative Finance is nearing its closing stages. This global survey of crowdfunding and lending via online platforms is the benchmark for the industry, providing the most comprehensive data on this fintech activity.  In Canada, Cambridge is being assisted by their research partners and the Scotiabank Digital Banking Lab at Ivey Business School.  NCFA is a supportive community partner. Leading platforms should have received an email with details on how to complete the survey from either Tania Ziegler at University of Cambridge or Professor Michael King at Ivey. It is vital that platforms participate in order to demonstrate the importance of this sector to Canadians and to policymakers at the federal and provincial levels. King says, “As we look ahead to the completion of the Federal Financal Sector Review early in 2019, this data will be vital for promoting open banking and other initiatives that support Canada’s fintech sector. When platforms opt out, they are effectively telling policymakers that alternative finance is not important and not worthy of the ...
Read More
Cambridge Survey of Alternative Finance Needs Your Participation!
Fortune | Matt Harris | Aug 8, 2018 Matt Harris is a managing director at Bain Capital Ventures. He is consistently ranked as one of the top investors in fintech, having participated in the space since 2000. I’ve been proven wrong once again. For eight years running, I’ve predicted that fintech investment is going to plateau. Based on the start of 2018, it hasn’t yet. In fact, we saw more than $5.4 billion invested in fintech during the first quarter of the year, with no signs of slowing momentum. For perspective, fintech investment for all of 2014 was just under $4 billion, so that’s “5x” growth in four years. In 2001, per data from Venture Scanner, it was something like $300 million. With that said, this whole “fintech” thing is kind of a charade. As I shared with attendees last month during our annual Fintech CEO Summit, co-hosted together with Nyca Partners, the CEOs in our portfolios don’t actually run “fintech businesses.” They run a payments business or a lending business, or they build investing technologies, or they sell to banks or insurance or real estate companies. Regardless of what VCs tell limited partners, or how media cover the industry, ...
Read More
Fintech Frenzy: Hype or Reality? A Closer Look at 6 Key Sectors
Crowdfund Insider | JD Alois | Aug 7, 2018 The UK Financial Conduct Authority (FCA) has initiated a new consultation that is going beyond the UK borders when it comes to Fintech innovation. Announced today, the FCA has created the Global Financial Innovation Network (GFIN). The multinational group includes regulatory agencies from the US, Singapore, Hong Kong, Australian, France and more. FCA Director of Competition, Christopher Woolard, said the creation of GFIN is an important step for the FCA to be able to better understand and harness the benefits of innovation in financial services for consumers, while managing the potential harm. “The establishment of the GFIN can help share the experiences and knowledge from across different markets, while also providing a platform for innovative firms wishing to scale their propositions via testing in multiple countries.” The members as announced include: Abu Dhabi Global Market (ADGM), Autorité des marchés financiers (AMF) Australian Securities & Investments Commission (ASIC) Central Bank of Bahrain (CBB) Bureau of Consumer Financial Protection (BCFP, USA) Dubai Financial Services Authority (DFSA) Financial Conduct Authority (FCA, UK) Guernsey Financial Services Commission (GFSC) Hong Kong Monetary Authority (HKMA) Monetary Authority of Singapore (MAS) Ontario Securities Commission (OSC, Canada) Consultative Group to ...
Read More
Fintech: UK Financial Conduct Authority Initiates Consultation on Global Financial Innovation, Partners with 12 International Regulators
Globe and Mail | Aug 8, 2018 The 2018 selloff in cryptocurrencies plumbed new depths on Wednesday after the U.S. Securities and Exchange Commission dented enthusiasts’ hopes for an VanEck exchange-traded fund backed by Bitcoin. A broad selloff in coins of all sizes reduced the market value of virtual currencies tracked by Coinmarketcap.com to about $230 billion, the lowest level since November. Digital assets have now lost about $600 billion since crypto-mania peaked in January, equivalent to erasing the entire market value of Visa Inc. twice over. (Shares of the payments processor are trading near a record high.) The SEC postponed its decision on whether to approve the Bitcoin ETF, dealing a blow to bulls who had bet a green light from the regulator would help sustain last month’s tenuous rally. Optimists are counting on the wider adoption of cryptocurrencies to keep prices supported, but regulators and many institutional investors have remained wary amid concerns over security and market manipulation. See:  OSC approves Canada’s first blockchain ETF Bitcoin was down 5.6 pe rcent to $6,484 as of 8:19 a.m. in New York, recovering from a 7 percent drop earlier while extending its 2018 decline to 55 percent, according to Bloomberg ...
Read More
Crypto prices sharply down after SEC postpones Bitcoin ETF decision
Digital Journal PR | Aug 7, 2018 ATLANTA--(Business Wire)--Steady, the income-building platform for the Build-Your-Own (BYO) workforce is already serving 100,000 Americans since it launched last week. The company, which today delivers personalized income-building opportunities, an income tracker, and exclusive relevant discounts, has raised $9 million in Series A financing round led by Propel Venture Partners, with significant participation from Omidyar Network, the impact investing firm established by Pierre Omidyar, the founder of eBay. The funds raised in this round will be used to rapidly scale and extend product features. Other investors include 25Madison, Clocktower Ventures, and Commerce Ventures. Shaquille O’Neal has joined the team as an Advisor and Advocate for the BYO workforce. “The traditional 9-5 career path doesn’t work for everyone, and we’re seeing more and more people set out to make their own way. Steady sees and serves this group, giving them the tools to discover new job opportunities, and the resources to earn more money and take control,” said Shaquille O’Neal. “Helping hardworking folks do and get more is an important mission and I’m excited to be part of it.” Work is changing. Full-time jobs are giving way to more flexible arrangements—shift work, part-time contracts, gigs, ...
Read More
Shaquille O’Neal Joins Steady; Company Raises $9 Million in Series A Round of Funding from Leading Fintech Investors

 


The National Crowdfunding & Fintech Association of Canada (NCFA Canada) is a cross-Canada non-profit actively engaged with cryptocurrency, blockchain, crowdfunding, alternative finance, fintech, P2P, ICO, STO, and online investing stakeholders globally. NCFA Canada provides education, research, industry stewardship, services, and networking opportunities to thousands of members and subscribers and works closely with industry, government, academia, community and eco-system partners and affiliates to create a strong and vibrant crowdfunding and fintech industry. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

Share

How to Draw People Into Your Crowdfunding Campaign

Share

NCFA Post | June 20, 2018

Launching your own crowdfunding campaign is a great way for you to start your journey as an entrepreneur. It is also a fantastic opportunity for you to generate a buzz around your business and to get people talking about your plans for the future. However, your attempts at crowdfunding will only be successful if you put the work in and plan ahead. Below are four steps that will help you to do this.

Show what you have done already

If you are going to get people excited about your crowdfunding campaign, you will need to show them what you have done already. Not doing so will make it extremely difficult for you to stand out from your crowdfunding competitors. It will also cause people to doubt your entrepreneurial spirit, as they begin to wonder why you haven’t achieved anything independently. Why not resolve this issue by setting up an investment portfolio for your business? This is a fantastic opportunity for you to raise your own funds. It will also provide a clear idea of what you are going to do with your future profits. If you are eager to learn more, you should research Betterment returns, as this will help you to understand the kind of money that you could be bringing into your company.

Put together an impressive pitch

The next step is to put together an impressive pitch for your business plan. If people are going to hand over their hard earned money, they will need to know exactly what they are investing in. Therefore, you should endeavor to be as honest as possible. Instead of burying your head in the sand and skimming over any issues with your business, you need to address any shortcomings head-on. Ideally, you should have the situation resolved before you begin to pitch your business. Or, at the very least, you should have a strong answer for any questions and queries you might face.

Secure the support of people you know

One such question could be about the amount of capital you have already raised. Although crowdfunding is a brilliant opportunity for you to secure funding for your business, it should not be your only source of income. Of course, your investment portfolio will help, but you should also try to secure the support of people you know. Perhaps you have a friend who is willing to make a contribution. Or, maybe you could do a deal with your parents. Whatever you decide, the most important thing is that you move past square one. You can’t appear desperate when you begin your crowdfunding campaign.

Get a handle on your facts and figures

It is also important that you don’t appear ill-informed. Luckily, you can avoid this by getting a handle on your facts and figures. Even if you are the creative force behind your business, it is essential that you know what you are talking about. While smooth talking and a persuasive sales pitch will get you far, it is likely that you will fall down at the final hurdle if your facts and figures don’t make sense. Therefore, you should carry out extensive research before making any claims. You should also educate yourself, proofread your work, and invite at least two other people to check through your business plan.

Other links you may like:


The National Crowdfunding & Fintech Association of Canada (NCFA Canada) is a cross-Canada non-profit actively engaged with cryptocurrency, blockchain, crowdfunding, alternative finance, fintech, P2P, ICO, and online investing stakeholders globally. NCFA Canada provides education, research, industry stewardship, services, and networking opportunities to thousands of members and subscribers and works closely with industry, government, academia, community and eco-system partners and affiliates to create a strong and vibrant crowdfunding and fintech industry. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

Click for News:

 

FCA Regulatory Sanbox | Aug 8, 2018 Find out about the 29 businesses that have been accepted into cohort 4 of the regulatory sandbox to test innovative products, services, business models and delivery mechanisms. We received 69 applications for cohort 4 of the regulatory sandbox. Applications came from a diverse range of firms operating across the financial services sector including in areas such as consumer credit, automated advice and insurance. 29 firms have been accepted to develop towards testing, including 3 firms that were accepted as part of previous cohorts but did not proceed to test. Firms that have been accepted to develop towards testing are listed below, except for one firm that has asked not to be named at this point in time. See:  Fintech: UK Financial Conduct Authority Initiates Consultation on Global Financial Innovation, Partners with 12 International Regulators We have accepted a number of firms that will be testing propositions relating to cryptoassets. We are keen to explore whether, in a controlled environment, consumer benefits can be delivered while effectively managing the associated risks. Tests will be conducted on a short-term and small-scale basis and the FCA is working with each firm to agree testing parameters and ...
Read More
FCA Regulatory sandbox participants - Cohort 4
Progressa Release | Aug 14, 2018 TORONTO, Aug. 14, 2018 (GLOBE NEWSWIRE) -- Progressa, a Vancouver and Toronto based financial technology company, announced today it has successfully closed an $84 million equity and loan funding round. The equity financing was co-led by Canaccord Genuity Corp. and Gravitas Securities Inc. and included Eight Capital and Paradigm Capital as part of the syndicate. The equity capital allows Progressa to unlock a new forward-flow whole loan purchasing program for up to $72 million, with Vancouver-based credit fund Cypress Hills Partners. The equity financing was largely supported by the Canadian investment banks who see the potential for Progressa to complete a go-public transaction (“IPO”) before the end of 2019. Ali Pourdad, Progressa’s co-founder and CEO, commented, “Progressa is proud to have developed first-to-market technology solutions for the Canadian non-prime credit consumer market. Today’s enterprise business partners are utilizing the Company’s Powered by Progressa solutions to improve their customer experience, while enhancing collections recoveries and mitigating significant risk, a true win for both enterprise and Canadian consumers. We are pleased with this broad level of support from Canadian investment banks who see that Progressa is making a positive difference in the lives of Canadians.” See:  ...
Read More
Progressa Closes $84 Million Funding Round Co-Led by Canaccord Genuity and Gravitas Securities, Supporting Record Growth
CNBC Markets | Kate Rooney  | Jul 24, 2018 Fintech company Square is boosting its small-business lending with an eBay partnership. Square Capital, the lending arm of the payment start-up, will be available to eBay sellers looking to expand their business operations. Starting in the third quarter, merchants on the site can apply for a loan as small as $500 and up to $100,000 to help with everything from payroll and inventory to equipment and marketing, the companies announced Tuesday. Square Capital’s focus since launching in 2014 has been on those businesses historically excluded from the larger financial system. The partnership will offer access to capital for those who have been “underserved when seeking funding” and give U.S. sellers a "seamless funding experience," said Jacqueline Reses, head of Square Capital. See:  What we can learn from Ontario’s $3 million loan to small business Lending Loop Surpasses $10M in Loans to Small Businesses Across Canada Small-business lending is an increasingly competitive area in fintech. PayPal, which was once a part of eBay, has a program called Working Capital and provides loans to merchants based on sales history. Amazon also does this for sellers, and began extending credit to small business owners ...
Read More
Square partners with eBay to expand lending for 'underserved' small businesses
CBC | Rob Antle  | Aug 6, 2018 Agency wants to make sure tax laws are being followed When Ottawa looks at cryptocurrencies like bitcoin, it sees problems. Bitcoin can be difficult to track, and there is the potential for "tax noncompliance" through unreported or under-reported income and capital gains. The Canada Revenue Agency "wants to understand how bitcoin and other cryptocurrencies operate in the traditional economic space to ensure that tax laws are being followed," CRA spokesperson Etienne Biram said in an emailed statement. "It is important to note that using digital currency does not exempt consumers from Canadian tax obligations." So CRA commissioned research on businesses that installed bitcoin automated tellers on their premises. A bitcoin ATM is not actually an ATM; it doesn't provide a connection to a customer's bank account. Rather, it's an internet-linked terminal that allows people to buy and sell bitcoins. See:  Learn about crypto payments - Fintech Fridays Podcast: ep1 with Samir Bandali of CoinPayments According to the study that followed — which surveyed 20 businesses — the taxman wanted to understand why a business would install a bitcoin ATM, along with "the perceived value it brings to businesses and their customers, and attitudes towards tax compliance in the ...
Read More
CRA surveyed businesses to find out why they're taking bitcoin ATMs
NCFA Canada | Craig Asano | Aug 10, 2018 We're excited to announce a new NCFA Podcast series called 'FINTECH FRIDAY$' where we sit down with the incredible people in the Fintech community and talk about leading fintech products innovations developments and challenges! FINTECH FRIDAY$ (ep.4): Importance of Smart Contract Safety Nets Host: Manseeb Khan, NCFA, Fintech Fridays show host Guest: Amy Wan, Founder & CEO, Sagewise About this episode: On this episode, our host Manseeb Khan sits down with LA legal tech entrepreneur Amy Wan, the CEO/Founder of Sagewise, a smart contracts dispute resolution startup. They talk about why smart contact safety nets are important, the bridge between legal tech and fintech and how Amy closed out her seed round while being pregnant. Enjoy! Subscribe to the channel and tune in each Friday to check out the latest movers and shakers in fintech. Listen to more Fintech Fridays podcasts here Transcription of Interview Manseeb Khan: Hey Everybody Manseeb Khan and you are tuning in to NCFA newest show Fintech Fridays. Today we have an amazing guest. She's a rock star in the industry. Ladies and gentlemen. Amy Wan is with us today. She's the CEO of Sagewise Amy thanks so ...
Read More
FINTECH FRIDAY$ (ep.4): Importance of Smart Contract Safety Net with Amy Wan, CEO & Founder at Sagewise
University of Cambridge and Ivey Business School | by Tania Ziegler and Michael King | Aug 8, 2018 The 2018 Americas survey of alternative finance conducted the University of Cambridge Centre for Alternative Finance is nearing its closing stages. This global survey of crowdfunding and lending via online platforms is the benchmark for the industry, providing the most comprehensive data on this fintech activity.  In Canada, Cambridge is being assisted by their research partners and the Scotiabank Digital Banking Lab at Ivey Business School.  NCFA is a supportive community partner. Leading platforms should have received an email with details on how to complete the survey from either Tania Ziegler at University of Cambridge or Professor Michael King at Ivey. It is vital that platforms participate in order to demonstrate the importance of this sector to Canadians and to policymakers at the federal and provincial levels. King says, “As we look ahead to the completion of the Federal Financal Sector Review early in 2019, this data will be vital for promoting open banking and other initiatives that support Canada’s fintech sector. When platforms opt out, they are effectively telling policymakers that alternative finance is not important and not worthy of the ...
Read More
Cambridge Survey of Alternative Finance Needs Your Participation!
Fortune | Matt Harris | Aug 8, 2018 Matt Harris is a managing director at Bain Capital Ventures. He is consistently ranked as one of the top investors in fintech, having participated in the space since 2000. I’ve been proven wrong once again. For eight years running, I’ve predicted that fintech investment is going to plateau. Based on the start of 2018, it hasn’t yet. In fact, we saw more than $5.4 billion invested in fintech during the first quarter of the year, with no signs of slowing momentum. For perspective, fintech investment for all of 2014 was just under $4 billion, so that’s “5x” growth in four years. In 2001, per data from Venture Scanner, it was something like $300 million. With that said, this whole “fintech” thing is kind of a charade. As I shared with attendees last month during our annual Fintech CEO Summit, co-hosted together with Nyca Partners, the CEOs in our portfolios don’t actually run “fintech businesses.” They run a payments business or a lending business, or they build investing technologies, or they sell to banks or insurance or real estate companies. Regardless of what VCs tell limited partners, or how media cover the industry, ...
Read More
Fintech Frenzy: Hype or Reality? A Closer Look at 6 Key Sectors
Crowdfund Insider | JD Alois | Aug 7, 2018 The UK Financial Conduct Authority (FCA) has initiated a new consultation that is going beyond the UK borders when it comes to Fintech innovation. Announced today, the FCA has created the Global Financial Innovation Network (GFIN). The multinational group includes regulatory agencies from the US, Singapore, Hong Kong, Australian, France and more. FCA Director of Competition, Christopher Woolard, said the creation of GFIN is an important step for the FCA to be able to better understand and harness the benefits of innovation in financial services for consumers, while managing the potential harm. “The establishment of the GFIN can help share the experiences and knowledge from across different markets, while also providing a platform for innovative firms wishing to scale their propositions via testing in multiple countries.” The members as announced include: Abu Dhabi Global Market (ADGM), Autorité des marchés financiers (AMF) Australian Securities & Investments Commission (ASIC) Central Bank of Bahrain (CBB) Bureau of Consumer Financial Protection (BCFP, USA) Dubai Financial Services Authority (DFSA) Financial Conduct Authority (FCA, UK) Guernsey Financial Services Commission (GFSC) Hong Kong Monetary Authority (HKMA) Monetary Authority of Singapore (MAS) Ontario Securities Commission (OSC, Canada) Consultative Group to ...
Read More
Fintech: UK Financial Conduct Authority Initiates Consultation on Global Financial Innovation, Partners with 12 International Regulators
Globe and Mail | Aug 8, 2018 The 2018 selloff in cryptocurrencies plumbed new depths on Wednesday after the U.S. Securities and Exchange Commission dented enthusiasts’ hopes for an VanEck exchange-traded fund backed by Bitcoin. A broad selloff in coins of all sizes reduced the market value of virtual currencies tracked by Coinmarketcap.com to about $230 billion, the lowest level since November. Digital assets have now lost about $600 billion since crypto-mania peaked in January, equivalent to erasing the entire market value of Visa Inc. twice over. (Shares of the payments processor are trading near a record high.) The SEC postponed its decision on whether to approve the Bitcoin ETF, dealing a blow to bulls who had bet a green light from the regulator would help sustain last month’s tenuous rally. Optimists are counting on the wider adoption of cryptocurrencies to keep prices supported, but regulators and many institutional investors have remained wary amid concerns over security and market manipulation. See:  OSC approves Canada’s first blockchain ETF Bitcoin was down 5.6 pe rcent to $6,484 as of 8:19 a.m. in New York, recovering from a 7 percent drop earlier while extending its 2018 decline to 55 percent, according to Bloomberg ...
Read More
Crypto prices sharply down after SEC postpones Bitcoin ETF decision
Digital Journal PR | Aug 7, 2018 ATLANTA--(Business Wire)--Steady, the income-building platform for the Build-Your-Own (BYO) workforce is already serving 100,000 Americans since it launched last week. The company, which today delivers personalized income-building opportunities, an income tracker, and exclusive relevant discounts, has raised $9 million in Series A financing round led by Propel Venture Partners, with significant participation from Omidyar Network, the impact investing firm established by Pierre Omidyar, the founder of eBay. The funds raised in this round will be used to rapidly scale and extend product features. Other investors include 25Madison, Clocktower Ventures, and Commerce Ventures. Shaquille O’Neal has joined the team as an Advisor and Advocate for the BYO workforce. “The traditional 9-5 career path doesn’t work for everyone, and we’re seeing more and more people set out to make their own way. Steady sees and serves this group, giving them the tools to discover new job opportunities, and the resources to earn more money and take control,” said Shaquille O’Neal. “Helping hardworking folks do and get more is an important mission and I’m excited to be part of it.” Work is changing. Full-time jobs are giving way to more flexible arrangements—shift work, part-time contracts, gigs, ...
Read More
Shaquille O’Neal Joins Steady; Company Raises $9 Million in Series A Round of Funding from Leading Fintech Investors

 

Share

Toronto Fintech & Funding Networking Event (Jul 11, 2018): 4th Annual NCFA Summer Kickoff!

Share

NCFA Canada | Craig Asano | June 18, 2018

Summer Kickoff Networking - PATIO TIME!

Join the National Crowdfunding & Fintech Association of CanadaPegasus Fintech Inc.Fintech Growth SyndicateNikola Tesla Unite Ltd.,    Token FunderGowling WLG, Equibit Group, Mavennet, partners, affiliates and the Fintech & Funding community in the heart of upscale Yorkville (neighborhood) on the InterContinental's PATIO and Proof Bar for a night of revelry and prime networking mixer.  Interested in disrupting the finance industry, raising capital or participating in Canada’s growing alternative finance and fintech sectors? Here's a perfect opportunity to connect with emerging fintech startups (stealth mode) and experts, strategize with partners, pitch investors and mingle with Toronto’s burgeoning fintech, blockchain, AI and crowdfinance ecosystem.

EVENT DETAILS:

Wednesday, Jul 11, 2018

~5:30 PM - 9:00PM+

InterContinental Yorkville (PATIO & Proof Bar)

220 Bloor Street West, Toronto, M5S 1T8 (map)

LIMITED TICKETS - GET'M BEFORE THEY'RE GONE!

$25 Early SOLD OUT!

$35 Standard SOLD OUT!

$50 Late - Last Chance SOLD OUT!

THANKS FOR ANOTHER GREAT EVENT - SOLD OUT!

AND OFFICIALLY KICKING OFF THE SUMMER!

  • All include entrance to private event, a complimentary drink, hors d'oeuvres, prizes, entertainment, and prime networking
  • Taxes and fees extra.  No refunds 7 days before the event (after Jul 4).  Ticket transfers ok.
  • If it rains the event will take place inside the Proof Bar
  • Checkout photos from last year's Summer networking event here
  • Inclusive Deals for fintech students, starving start-ups and women founders: email for code: info@ncfacanada.org
  • NCFA Members deal: Save 25% https://bit.ly/2IxBi4s  (Not a member yet? Join today and save)

All ticket registrations by July 3 will be automatically entered into a July 4th draw taking place 6pm at Yonge and Dundas square at driver/showcase event to WIN 2 VIP tickets:

Congrats to the following multiple winners of the tickets!

Ryan Correia,MD Equivesto Inc.

Emily Cornelius, Marketing, Equibit

  • Draw will take place July 4th at 6pm at Yonge and Dundas Niko race car driver/showcase event.
  • 2 winners will be drawn and receive 2 x tickets entrance with VIP pit passes for Saturday, July 7 at the Mobil 1 Sportscar Grand Prix sponsored by event partner NIKOCoin

 

This event is for the Fintech & Funding, Blockchain, AI and Alternative Investing Community

Innovators and investors interested in financial innovation, networking and collaborating with startups, investors, angels, early stage-focused VC's and industry experts and developers in alternative finance, crowdfunding, fintech, payments, cryptocurrency, blockchain, ICOs / STOs, Artificial Intelligence-driven investing and other financial innovation sectors.

  • Women founders
  • Companies actively raising capital
  • Investors and syndicates interested in investing
  • Fintech advisors, consultants, and development experts (startups, institutions, researchers, academia, government)
  • Financial innovators and developers looking to partner or collaborate
  • High growth fintech start-ups (stealth mode) and scale-ups.  Private or public.
  • Developers looking for opportunities and to connect with businesses
  • Funding platforms, dealers, providers and their client networks
  • Anyone interested in emerging fintech trends, regulations and industry developments

Those who are crazy enough to think they can change the world usually do - Steve Jobs

Venue (Patio and covered Proof Bar)

 

Event Host and Partners:

The National Crowdfunding & Fintech Association of Canada (NCFA Canada) is a non-profit actively engaged with cryptocurrency, blockchain, crowdfunding, alternative finance, fintech, P2P, ICO/STO, and online investing stakeholders globally. NCFA Canada provides education, research, industry stewardship, services, and networking opportunities to thousands of members and subscribers and works closely with industry, government, academia, community and eco-system partners and affiliates to create a strong and vibrant crowdfunding and fintech industry. Join Canada's Fintech & Funding Community today FREE, or become a valued contributing member and get perks.

For more information, please visit: ncfacanada.org

 


Pegasus Fintech, Inc.focuses on supporting innovative solutions in the Financial Services, Technology, Blockchain and Cryptocurrency communities.  Pegasus has developed a full-service process for assisting organizations who want to do an Initial Coin Offering (ICO).  Together with our team of highly skilled industry professionals and partners we create, with our clients, the necessary business, legal, accounting, technology development, capital and funding strategies, whitepapers, roadmaps, marketing and sales processes to deploy successful and compliant ICOs.  Pegasus also has created an integrated network platform, called the Pegasus Matrix, supporting interactivity through Pegasus supported ICO use cases.  Pegasus is a partner of Polymath and is the first North American Sponsor Firm of the Gibraltar Blockchain Exchange (GBX).

For more information, please visit:  pegasusfintech.com


FinTech Growth Syndicate (FGS) is a business accelerator that accelerates sales, partnering and marketing strategies for new and growing FinTech companies and implements internal or external innovation strategies and projects for financial institutions and technology incumbents.  We are deeply connected to the FinTech community and stakeholders and help organizations find partners and build awareness within the FinTech ecosystem.

For more information, please visit:  fintechgrowthsyndicate.com

 


Gowling WLG is an international law firm created by the combination of Gowlings, a leading Canadian law firm, and Wragge Lawrence Graham & Co (WLG), a leading UK-based international law firm.  With more than 1,400 legal professionals in 19 cities across Canada, the UK, Continental Europe, the Middle East and Asia, Gowling WLG provides clients with top-tier legal advice at home and abroad in a range of areas.  Our clients have access to in-depth expertise and experience in key global sectors, including advanced manufacturing, energy, financial services, infrastructure, life sciences, natural resources, real estate and tech.  We see the world through our clients’ eyes, and collaborate across countries, offices, service areas and sectors to help them succeed – no matter how challenging the circumstances. Our culture is, above all, about people and teams, based on our belief in the power of relationships to deliver tangible business results.

For more information, please visit: gowlingwlg.com


Equibit Group is the company that developed the Equibit coin (EQB) and an initial product suite for application of the open-source Equibit network. This decentralized application of blockchain technology enables a worldwide, peer-to-peer equity and debt marketplace.  In much the same way that Bitcoin applied digital technology to currency and payments, Equibit eliminates the need for expensive infrastructure and third-party facilitation from depositories or transfer agents. The Equibit network connects issuers with investors directly. Registration, transfer, settlement and investor relations can all be managed securely and digitally within a decentralized environment.  With Equibit Group, capital markets meet the blockchain.

For more information, please visit: equibitgroup.com


TokenFunder is a Canadian company building a blockchain-powered venture funding platform and investment market. Our mission is to allow every investor equal access to invest in the best companies. We are a pioneer, the first company to work with the Ontario Securities Commission LaunchPad to launch Canada's first security token offering on the Ethereum public blockchain.

For more information, please visit: tokenfunder.com


 

Mavennet provides private enterprise blockchain solutions that enable high transaction throughput and interoperability between multiple blockchain platforms. These solutions are powered by Mavennet's core technology stack, Aion for Enterprise, built using foundational components of the public Aion network.

 


INTERESTED IN GETTING INVOLVED?

Contact us to learn more:  info@ncfacanada.org

Also seeking 1-2 Volunteers

 

SEE YOU THERE!

Photos from last year here

Share