Category Archives: Fintech Services

Former PayPal President Scott Thompson Joins Canadian Fintech Payment Rails As Investor & Board Advisor

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Crowdfund Insider | | Oct 10, 2017

Payment Rails, a Canada-based API-first payouts platform for businesses, announced on Tuesday it has appointed former President of PayPal, Scott Thompson, as an investor and board advisor. This news comes just after the company completed its seed round and brought total investment funding to $1.1 million. Founded in 2015, Payment Rails stated it is simplifying cross-border payouts for online marketplaces, share economy, crowdsourcing, affiliate platforms, app stores, and crowdfunding platforms.

Make payouts to your independent contractors, affiliates and suppliers anywhere in the world in 150+ currencies through our payouts-as-a-service platform. We offer a powerful API or you can upload batch files through our dashboard portal. Recipients have the choice of how they want to receive their funds and in which currency: direct to their own bank account, credit card, prepaid card, cash pick-up, check, paypal + other options.”

Payment Rails’ Co-founder and CEO,  Tim Nixon, explained:

“Our vision is to enable all businesses to offer an exceptional payout experience to their on-demand workers and suppliers, whether that business is a startup or a Fortune 500 company. Our focus on delivering the fastest global payments at fair and transparent prices, coupled with our easy integration, is what businesses have been demanding. With the guidance of industry experts like Scott, we’re on the way to achieving this vision.”

See:  PayPal launches Slack bot for peer-to-peer payments

While sharing details about Thompson’s appointment, Ferhan Patel, Co-Founder and President of Payment Rails, stated:

“We are thrilled to have Scott join our team as an advisor and investor. Scott is an industry giant having led PayPal and making it a dominant force in payments.  His experience and expertise will be extremely valuable as we scale our platform globally. Payment Rails is honored to be backed by our seed-round investors, like Scott. As we launch our business payouts platform, we truly appreciate the expertise that Scott, who through his leadership scaled PayPal to over 105M active users, brings to the Payment Rails board.”

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The National Crowdfunding Association of Canada (NCFA Canada) is a cross-Canada non-profit actively engaged with both investment and social crowdfunding, blockchain ICO, alternative finance, fintech, P2P and online investing stakeholders across the country.  NCFA Canada provides education, research, leadership, support, and networking opportunities to over 1600+ members and works closely with industry, government, academia, community and eco-system partners and affiliates to create a vibrant and innovative online financing industry in Canada.  Learn more About Us or visit www.ncfacanada.org.

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Local Crowdfunding Platform to Assist Fire Ravaged Communities

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Community Futures | Graham Stanley | Aug 22, 2017
Vanderhoof, BC. – As devastating wildfires continue to tear across the province of British Columbia many small and medium sized businesses, as well as non-profit organizations, are seeking solutions to make rebuilding easier. Local crowdfunding platform, InvestLocalBC feels it can assist in some small way.
“Sourcing funds to assist with the recovery from the wildfires is an excellent example of what the InvestLocalBC platform was created to accomplish,” said Graham Stanley, the Manager of Community Futures Stuart Nechako which created the platform. “Local solutions to local problems.”
With so many rural communities being impacted by the wildfires, this local perspective has taken on a whole new significance. “Right now we are just seeing the emergency portion of this disaster,” said Stanley, “the rebuilding of our communities will be going on for years to come. With this in mind and with our mandate to assist local communities InvestLocalBC waiving the service fees for any campaign involved in the rebuilding from these horrific fires.” InvestLocalBC operates under a “fixed funding” model. Fixed funding assumes administrative fees of a 5% commission. This commission will be waived for all vetted projects and campaigns, removing at least one financial barrier to reconstruction.
To further the cause InvestLocalBC has partnered with Fundrazr a crowdfunding pioneer in BC to “increase our reach on the nonprofit side and FundRazr has an extremely large audience,” stated Stanley.
Anyone looking at a wildfire recovery or community redevelopment campaign can visit the website at www.investlocalbc.ca(link is external) or contact local manager Tom Bulmer with any questions or concerns. Call 1-800-266-0611 or email admin@investlocalbc.ca(link sends e-mail)
About Community Futures Stuart Nechako:
Media Contact:
Graham Stanley
250-567-5219
About InvestLocalBC.ca:
Media Contact:
Tom Bulmer
250-567-5219

The National Crowdfunding Association of Canada (NCFA Canada) is a cross-Canada non-profit actively engaged with both social and investment crowdfunding stakeholders across the country. NCFA Canada provides education, research, leadership, support, and networking opportunities to over 1600+ members and works closely with industry, government, academia, community and eco-system partners and affiliates to create a strong and vibrant crowdfunding industry in Canada. Learn more at www.ncfacanada.org.

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A Guide to Building an Audience for Crowdfunding

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Indiegogo Blog | Samantha Lewis | June 16, 2017

BRING OUT THE CROWD AND BRING OUT THE FUNDS

Embarking on a crowdfunding journey? When it comes to building your audience, the more people you can get to back your idea the better — but that can be easier said than done. From email lists to social media to meeting potential backers firsthand, gathering a large crowd to fund your idea takes a lot of hard work.

  1. Leverage your network. Never underestimate the power of the people you already know. Family, friends, co-workers and even acquaintances make a great foundation for your campaign community. Our guide will explain how to use your personal network to create a solid base for your crowdfunding audience.
  2. Build a landing page. Every campaign has a story — this is where you tell yours. From who you are and what your mission is to why your idea needs supporting, a landing page is a critical part of any crowdfunding campaign. Serving as an information portal, it’s where potential backers can learn more before a campaign goes live. It’s also an excellent tool for collecting email addresses and provides a link to help you share your story. Check out how to create a landing page for a successful campaign in our guide, which highlights several great examples from fellow Indiegogo campaigners.
  3. Reach out over email. Many campaigners agree: email is the most effective way to attract backers. It’s also not a secret that a healthy email list leads to more campaign contributions. How does one establish such a list? In our guide, we’ll explore proven ways to build a strong email database, capable of capturing and growing your audience before your campaign even launches.
  4. Use social media. Did you know that after email outreach, social media is the next best way to drive traffic to your Indiegogo campaign page? That’s why it’s so important your to properly represent your product on social platforms. Our guide covers everything from when to launch a social media campaign (hint: it’s months before your Indiegogo campaign goes live) to creating hashtags and content to foster a sense of community.
  5. Contact the press. Using media sources respected by your target audience can be a great way to establish trust with backers. But before you reach out to the press, there are few things you should know — like the difference between a pitch email and a press release. Whether you need help creating a media kit or are looking for some tips on crafting the perfect follow up, you can find it all in our handy new guide.
  6. Host events. Did you know that meeting potential backers face-to-face can be a great way to cultivate interest in your idea? From launching a kickoff party and hosting exclusive events for backers to throwing a campaign after party, we’ll show you how to host for the most contributions.

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The National Crowdfunding Association of Canada (NCFA Canada) is a cross-Canada non-profit actively engaged with both social and investment crowdfunding stakeholders across the country. NCFA Canada provides education, research, leadership, support, and networking opportunities to over 1600+ members and works closely with industry, government, academia, community and eco-system partners and affiliates to create a strong and vibrant crowdfunding industry in Canada. Learn more at www.ncfacanada.org.

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Equifax Canada empowers businesses to arrive at better credit decisions faster, with Risk Reveal

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Equifax Canada | April 20, 2017

equifax_01

TORONTO, ONTARIO--(Marketwired - April 20, 2017) - (NYSE:EFX) - Equifax Canada® announced today the launch of Risk Reveal, the only solution in the Canadian market that leverages both commercial and consumer intelligence for a robust and predictive view of a company, as well as its owners.

Combining the depth of two credit databases in one solution, Risk Reveal brings together credit scores, credit data, legal actions, and collections data for both a corporation and its principals, enabling businesses to assess client risk with greater speed and predictability, helping to minimize the potential for fraud.

See:  Credit Card Companies Have No Choice But To Embrace Blockchain

"It can be difficult to fully understand the credit worthiness and potential for delinquency for a small business," notes George Staikos, Director of Commercial Markets at Equifax. "Is the business being funded through the owner's personal accounts? Or did the owner opt for a business credit card or loan? Or both? Risk Reveal provides a 360-degree view of a small business' risk."

Risk Reveal returns a report for the business inquired upon, and reports for up to three owners/guarantors, as well as a commercial and a consumer delinquency score which predicts the likelihood that a business will become severely delinquent (non-payment for 90 days or greater, in the next 12 months). That data is distilled into a dual risk score that helps businesses adjudicate customers better and faster while reducing write offs.

"This solution, the first in Canada, provides a greater understanding of true credit risk," says Staikos. "Risk Reveal enables businesses to keep profits on track and risk in check."

Source:  Equifax Release

The National Crowdfunding Association of Canada (NCFA Canada) is a cross-Canada non-profit actively engaged with both social and investment crowdfunding stakeholders across the country. NCFA Canada provides education, research, leadership, support and networking opportunities to over 1500+ members and works closely with industry, government, academia, community and eco-system partners and affiliates to create a strong and vibrant crowdfunding industry in Canada. Learn more at www.ncfacanada.org.

 

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NACO hopes its Common Docs will standardize angel investment term sheets in Canada

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Betakit | | Apr 13, 2017

NACO common docs

On Tuesday, the National Angel Capital Organization gathered 100 angel investors and partners in Toronto to mark the launch of NACO’s Common Docs.

The organization has spent the past three months working with Canadian angel investors and founders on standard document templates, meant to act as a guideline, for early-stage startup investments. Open Angels’ Boris Mann and E-Fund’s Peter Dorsman acted as project leads working with Canada’s startup ecosystem.

“There’s all kinds of stories — and I’m sure each of you have your own stories — about the amount of friction and confusion that exists sometimes in deals and the way that they’re done,” NACO CEO Yuri Navarro said during the launch event. “And the sad side effects of that…just the way you structure a deal can actually have a significant, negative impact on a company in the future.”

Navarro said that the goal of Common Docs is to reduce the friction in negotiating deals by having the docs as a starting point, and give both founders and funders a better way to understand how deals are structured.

“This is really a matter of raising the literacy around this stuff from a Canadian perspective. There actually is no central Canadian repository of really anything,” said Mann. “The other thing that we sought to do was answer the question is, what is common? That was definitely something that was starting to come from the NACO membership, even some stories of saying

‘we lost a deal because we were told our terms weren’t market.’ What is common? What’s market?”

In a panel with founders and investors during the event, the speakers touched on some of the pain points that having a central resource could solve.

See:  Angel investing was always male-dominated. That’s finally changing

When it comes to getting more people interested in angel investing, Zoom.ai founder Roy Pereira said it’s important to get more young founders involved. “I think we have to get some of the younger people who had a few exits, or one exit at least, to get more involved in angel groups and crowdfunding,” said Pereira. “I find they’re not interested or they don’t see themselves in these groups. So I think there may be a disconnect, And they’re not investing as much as they could because they don’t see themselves in the community.”

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The National Crowdfunding Association of Canada (NCFA Canada) is a cross-Canada non-profit actively engaged with both social and investment crowdfunding stakeholders across the country. NCFA Canada provides education, research, leadership, support and networking opportunities to over 1500+ members and works closely with industry, government, academia, community and eco-system partners and affiliates to create a strong and vibrant crowdfunding industry in Canada. Learn more at www.ncfacanada.org.

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Calgary companies breaking ground in hot fintech sector

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Calgary Herald | Amanda Stephenson | March 7, 2017

Calgary economic development

Could Calgary become a Canadian hub for fintech, the latest hot sector to capture the imaginations of investors and entrepreneurs alike?

A small cluster of local companies are already breaking ground in the up-and-coming space, and — with the sector appearing poised to permanently shake up the global banking industry — some people believe Calgary could see more capital investment and startups launched in the near future.

Calgary Economic Development, eager to help diversify the local economy beyond its reliance on oil and gas, has already identified fintech as a sector of interest as it seeks to attract new and established companies to the city.

Download:  2016 Alternative Finance Crowdfunding in Canada Industry report

“I would say that we view it as an opportunity,” said Mary Moran, president and CEO of Calgary Economic Development. “I think it’s even easier for people in Alberta to make investments in fintech than in high-tech, because it’s closer to their main industry of oil and gas. Financial services is quite closely related to the energy industry.”

Fintech — an all-encompassing term that covers a host of financial technologies, from mobile banking apps to international money transfer services to crowdfunding platforms — is taking off worldwide. According to a 2016 report by the Digital Finance Institute and McCarthy Tetrault LLP, investment from private capital in fintech companies was US$12.21 billion in 2014, an increase of 200 per cent from the year before. In 2015, fintech investment grew again to US$22.3 billion, an increase of 75 per cent.

Some observers believe fintech has the capacity to disrupt all aspects of financial services — from banking to payments to wealth management — the way online shopping and video streaming disrupted the retail and entertainment sectors, respectively. The change is just coming later than it did in some other industries, in part because of the inherent conservatism of the banking and finance worlds.

“It’s a very off-line industry — you know, meet in person, use Excel spreadsheets, make phone calls — it’s very inefficient,” says Brock Murray, CEO of Katipult, a Calgary-based fintech company whose cloud-based software gives firms in private markets the ability to design, set up and manage an investment crowdfunding platform. “You can walk into these billion dollar funds and when you actually look at how they do things, it could be paper applications. The way they do things internally could be the way people were doing things six years ago in other industries.”

See:  Katipult Secures Capital Partner for 2017 Growth

That’s starting to change as customers become more comfortable with dealing with money online, and as the major financial institutions realize they have to adapt or get left behind. Murray says Katipult — which just secured a substantial new capital investment in its latest funding round — has been fortunate to be in the right place at the right time, as excitement around fintech takes off.

“The sheer dollar volume that lies in these different types of firms — from banks to credit unions to hedge funds — there’s a significant amount of money there,” Murray said. “And it’s one of those industries that is disproportionately behind in terms of how they use technology, so I think investors are recognizing the huge potential there.”

Katipult began building out its software two and a half years ago and now has 20 employees — a number it expects to double over the next six months as a result of the recent capital investment. (Murray declines to disclose a dollar value, other than to say it was a “multi-million dollar” investment). The company also plans to explore opportunities for partnerships and acquisitions.

But while there’s no denying fintech is a hot space right now, Marcos Lopez — CEO of Calgary company Solium — says the term is more than a passing trend. Solium, whose software platform allows public and private companies to manage their employee stock option plans and share purchase programs, has been in business since 1999, when “fintech” wasn’t even a word.

“I think it’s an invented term. It’s really just about using technology to increase automation and service, which we do in all aspects of our lives,” Lopez says. “So instead of calling it a buzzword, I would say instead it’s an investment theme right now that people are starting to learn about and put energy behind — much like self-driving cars and virtual reality.”

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The National Crowdfunding Association of Canada (NCFA Canada) is a cross-Canada non-profit actively engaged with both social and investment crowdfunding stakeholders across the country. NCFA Canada provides education, research, leadership, support and networking opportunities to over 1500+ members and works closely with industry, government, academia, community and eco-system partners and affiliates to create a strong and vibrant crowdfunding industry in Canada. Learn more at www.ncfacanada.org.

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Katipult Secures Capital Partner for 2017 Growth

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Market Watch | Katipult Release | Feb 7, 2017

Katipult software for private capital markets

Feb 07, 2017 (Marketwired via COMTEX) -- CALGARY, AB--(Marketwired - February 07, 2017) - Canada's FinTech standout Katipult has secured a substantial capital investment in a round of funding according to CEO and Founder Brock Murray. The company provides a Platform-as-a-Service that's like Shopify for private capital markets. Its software allows firms to setup and manage a platform to offer privately issued, exempt securities to non-accredited, accredited and institutional investors.

Investment in FinTech companies is red hot, however CEO Brock Murray says his company isn't a sector play for investors, rather that Katipult is a business with strong fundamentals, a talented team, and massive growth potential. "With our new partner, we are poised to build a transformative company that makes enterprise-ready software accessible, affordable, and painless for firms in the Alternative Investment industry. From day one, we've set out to build a phenomenal product that removes the inefficiencies and regulatory hurdles for our clients and it's great to have a long-term strategic partner, to significantly increase our resources to do so."

See:  Katipult named Canada’s most innovative Fintech company

The company plans to use the money to expand its team to 40 employees, explore partnerships and acquisitions, and look at opportunities for vertical migration. "The success of our clients is our success," says Murray. "We are going to be aggressively pursuing growth strategy, and bolstering our product and support services to help our clients launch Investment Crowdfunding, Peer-to-Peer Lending, and Investor Management platforms."

Katipult's run rate and growth are putting it on track to be one of Canada's top FinTech companies in 2017, and one to watch on the international stage. Katipult is a market leader in its specialty markets including the United States, Canada, and United Kingdom, and has a physical presence in North America, Europe, and Asia.

About Katipult

Katipult is a financial technology (FinTech) company that offers proprietary cloud-based software infrastructure that allows firms to design, setup, and operate an investment platform across multiple distribution channels including web, mobile, and social media. Katipult is being used in over 20 unique regulatory environments to grow investor networks, efficiently manage investors, and streamline deal flow administration. www.katipult.com

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Press Contact Katipult Brock Murray bmurray@katipult.com +1 403 457 8008

 

The National Crowdfunding Association of Canada (NCFA Canada) is a cross-Canada non-profit actively engaged with both social and investment crowdfunding stakeholders across the country. NCFA Canada provides education, research, leadership, support and networking opportunities to over 1500+ members and works closely with industry, government, academia, community and eco-system partners and affiliates to create a strong and vibrant crowdfunding industry in Canada. Learn more at www.ncfacanada.org.

 

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