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Vena Solutions Achieves Elite Centaur Status $100M ARR

Milestone Release | Jul 15, 2024

Freepik Unicorn and centaurs - Vena Solutions Achieves Elite Centaur Status $100M ARR

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Canadian finance startup, Vena Solutions, has announced that its annual recurring revenue (ARR) has surpassed $100 million USD, awarding it the esteemed Centaur classification, which is granted to privately held SaaS companies who generate $100 million USD in annual revenue.

  • Vena's ARR milestone highlights the company's strong annual growth, which is being driven by a rise in the demand for its financial planning and analysis (FP&A) products. Serving more than 1,800 companies in a variety of industries, Vena has proven its scalable solutions, broad market appeal, and just closed a record setting quarter.
  • Vena is dedicated to innovation and recently released an AI-powered tool, Vena Copilot. With the use of Microsoft Azure Open AI technology, this application improves FP&A skills and gives finance teams access to increased operational efficiency and strategic insights.
  • Vena actively promotes a lively community by putting on events like Excelerate Finance, providing free online courses, and starting programs like Vena Academy. These initiatives support the development of an informed user base and improve client interactions.

See:  Are you a Pig, Gazelle or Bear? Beyond Unicorns, Zoology of startups

Hunter Madeley, CEO at Vena:

“Achieving this designation represents an exciting milestone on the amazing journey we’re enjoying with our customers and partners as we transform the office of finance and empower FP&A teams everywhere. From our founding days, we’ve believed that the most impactful organizations in the world have always been those that best leverage the power of data and their people in pursuit of a clear and meaningful mission. Our platform makes that possible and we are so grateful to have played our part in the success our customers realize every day. This achievement reflects the deep and abiding commitment of our employees as we build a culture and company focused on helping our customers plan to grow. We still have so much more to do, but it’s nice to take a beat and celebrate this latest milestone together.”

Some Notable Canadian Unicorn Fintechs

Canada's fintech landscape includes several unicorn companies, as published in Failory.

  • Wealthsimple: One of the most well-known fintech unicorns in Canada, Wealthsimple is renowned for its user-friendly investing platform.
  • Neo Financial: Known for its innovative financial products and quick expansion, this company attained unicorn status with a valuation of more than $1 billion.
  • FreshBooks: Achieving unicorn status with a robust market presence, this cloud-based accounting software provider serves small and medium-sized enterprises.

See:  How Fintechs Can Integrate AI for Efficiency Gains

  • Figment: Thanks to its ground-breaking platform, this unicorn-status company specializes in Web3 staking, and blockchain infrastructure.
  • eSentire: With a valuation of more than $1 billion, this cybersecurity solutions company has attained unicorn status.
  • Axelar: With its strong platform, the company has achieved unicorn status by offering decentralized communication solutions for blockchain ecosystems.

Conclusion

This accomplishment is a major milestone for Vena Solutions, demonstrating that Canadian fintech firms can compete and flourish internationally. Vena is well-positioned for continued growth and success with a focus on innovation and consumer value.


NCFA Jan 2018 resize - Vena Solutions Achieves Elite Centaur Status $100M ARRThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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[Webinar Jul 17]: A Global Fintech Seminar in Osaka

Event | Jul 15, 2024

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Image: Global Fintech Seminar in Osaka

Join the Global Fintech Seminar in Osaka Webinar: A Unique Opportunity for Fintech Enthusiasts

Are you prepared to discover new opportunities in the financial industry? This is a chance for fintech enthusiasts and professionals to take part in a "Global Fintech Seminar in Osaka" on July 18, 2024, hosted by the Osaka Prefecture and Osaka City, supported by EY Japan.

See:  WealthTech in Asia-Pacific: A Trillion-Dollar Opportunity

Event Overview

Date: Thursday, July 18th
Time: 4:00 PM - 6:30 PM (JST)
Format: Online via Zoom
Fee: Free
Application Deadline: July 17th, 5:00 PM (JST)

Register Here

Why Attend?

  • Gain insights into the dynamic fintech ecosystem of Osaka through presentations from leading Osaka-based fintech companies such as Warrantee, Giftpad, and CTIA.
  • Learn about exciting investment opportunities in one of Japan's most innovative financial hubs.
  • Connect with industry experts, potential partners, and fellow fintech enthusiasts from around the world.
  • Engage in roundtable discussions and individual meetings designed to foster collaboration and knowledge sharing.

How to Register

To participate in this free event, please register by visiting this link before the application deadline on July 17th, 5:00 PM (JST).

See:  CCAF and WEF Unveil 2024 Global Fintech Report at Davos

Spread the Word

If you know anyone who would benefit from attending this webinar, please share this information with them. Your participation and support will contribute to the growth and recognition of Osaka's fintech landscape.  For more information, please contact Saki Shimane at investosaka@jp.ey.com


NCFA Jan 2018 resize - [Webinar Jul 17]:  A Global Fintech Seminar in OsakaThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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Markets React to Trump’s Assassination Attempt

Crypto News | Jul 15, 2024

Freepik banknote with bitcoin - Markets React to Trump's Assassination Attempt

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Donald Trump's Support for Bitcoin and Impact on Trade and Financial Markets

On Saturday, President Donald Trump narrowly survived an attempted assassination at a rally in Butler, Pennsylvania.  Markets reacted on Monday, with the price of Bitcoin skyrocketing over $63,000 (over 10%).  In the wake of the attack, investors responded favourably, seeing Bitcoin as a decentralized and safe financial instrument amidst periods of political instability. Furthermore, the Republican platform has officially declared its stance on digital assets, and Trump will be speaking at the upcoming Nashville, Tennessee, Bitcoin Conference.

See:  ‘Mugshot Edition’ Trump NFTs Blending Politics, Memorabilia and Digital Assets

  • Trump now supports Bitcoin, changing his earlier unfavourable stance. In his view, Bitcoin is a safe, decentralized substitute for established financial institutions that is necessary for both personal financial sovereignty and economic stability.  Trump's endorsement of Bitcoin has the potential to significantly influence trade policy in the future by encouraging international trade and lowering dependency on fiat currencies. This is consistent with his overarching economic plan to promote innovation and global market competitiveness.
  • Following the assassination attempt, Polymarket showed Trump's chances of winning the 2024 presidential election significantly rose to 71%, it's all time high. This uptick indicates that investors are becoming more confident in his capacity to withstand setbacks and lead with steadiness, which will make him more appealing to fans and market players.
  • Trump's Republican Party platform for 2024 calls for an end to the crackdown on cryptocurrencies, indicating a more welcoming regulatory climate for digital assets. This well-rounded strategy promotes innovation while safeguarding consumer interests, possibly establishing the United States as a frontrunner in the digital economy.

Despite Failed Assassination Attempt, Trump to Speak at Upcoming Bitcoin Conference in Nashville

On July 27, Trump will headline the Nashville Bitcoin Conference, where he will address his support for cryptocurrencies and their effects on trade and the economy. It is anticipated that his speech will clarify his position on fair regulation of cryptocurrencies and their integration into traditional financial systems. Politicians and investors are looking forward to this event for insights into future regulatory approaches to crypto.

Conclusion

The assassination attempt's effect on markets and Donald Trump's recent support for Bitcoin in the face of political unrest. His endorsement suggests that trade policies may change and that regulations pertaining to digital assets may become more lenient.

See:  Fortune 100 & 500 Embrace Blockchain, Driving Onchain Growth

Investors and lawmakers are anxious to learn more about Trump's plan to incorporate Bitcoin into the banking system and pave the way for important advancements in the digital economy as he gets ready to speak at the Nashville Bitcoin Conference.


NCFA Jan 2018 resize - Markets React to Trump's Assassination AttemptThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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Is Web3 Ready for Social Commerce Adoption?

Report | Jul 15, 2024

Onyx Web3 A new era for social commerce - Is Web3 Ready for Social Commerce Adoption?

Image: Web3: A new era for social commerce (Onyx by J.P. Morgan)

Are Web 3 and Social Commerce Ready for Prime Time?

Social commerce is expected to reach over $1 trillion in 2023 and 600% increase by 2030. This growth is sparking radical change in consumer behaviour due to tech advancements but there's still a lot of friction existing on today's social media platforms that needs innovating. Enter Web3, the next phase of internet development distinguished by user ownership and decentralization, however is Web3, ready for mass acceptance in social commerce and vice versa?  Dig into just published report from Onyx by J.P. Morgan called  "Web3: A New Era for Social Commerce."

Traditional Social Influencers

With their large fan bases on TikTok, YouTube, Instagram, and other platforms, social influencers are becoming essential to digital marketing campaigns. However, centralized Web2 platforms play a major role in the traditional influencer model. The distribution of content, data, and revenue are all under the hands of these platforms, which limits influencer autonomy and puts them at the whim of platform algorithms. Influencers' reach is fueled by engagement metrics like likes, comments, and shares, but they can be manipulated by the platforms, giving audiences and influencers alike an uneven and occasionally untrustworthy experience.

Enter Web3's Social Tech Stack

With its blockchain roots, decentralization, openness, modularity, and interoperability, Web3 is a major advancement above Web2. Web3 gives people ownership and control over their digital identities and content, in contrast to Web2, where user data and content are controlled by centralized platforms and corporations.

  • Web3 digital wallets communicate with decentralized apps (dApps) and blockchain networks. They offer a distinct public address that may be used to identify and communicate with other wallets and users. Recent developments have improved user experience by streamlining wallet setup and use.
  • Web3 consumer dApps for everything from blogging and music to social networking such as Phaver, Yup, and Warpcast. By enabling users to gather and possess content, Web3 dApps promote a more customized and captivating user experience.  Wider use across many apps is made possible by open social graphs (networks) like Farcaster and Lens Protocol, which promote creativity and user-centered experiences.

See:  A Fintech Survival Guide to Understanding Gen Z Finance

  •  middleware layer that improves front-end application functionality by offering open algorithms, analytics, payments, messaging, search, identification, and data access.
  • Performance and scalability are improved by combining blockchain technology with off-chain decentralized storage to handle the large number of data and transactions needed for social apps.

Web3 Social Commerce

  • Through the use of smart contracts and on-chain data, Web3 social commerce incorporates blockchain technology into social media platforms to manage user-centric transactions with increased transparency.  See Coinbase Commerce as an example.
  • Transparent on-chain data and verifiable credentials enhance trust in Web3 social commerce. For instance, loyalty and "Proof of Store" badges lower the possibility of fraud and boosts brand and influencer confidence.
  • Web3 offers personalized communication via digital identities and open social networks, which encourages customized content creation and community development. Influencers have the ability to produce unique, token-gated experiences and content that increase loyalty and engagement.

Take a look at the example below with user Emma's interaction with Web3 social commerce.

See:  Strategies for Achieving Product-Market Fit in Web3

  1. Emma finds a new brand using her open social graph, which is a network of verified badges and reliable connections that indicate credibility.
  2. She relies on product reviews from loyalty badge-wearing verified users since she knows they are real people and not automated systems.
  3. Emma uses her verified credentials to get discounts and completes her order within the Web3 platform without ever leaving the ecosystem.
  4. Emma's engagement with the brand is further enhanced when she receives an invitation to join a token-gated community that offers unique content and events after making a purchase.

Is Web3 Ready for Social Commerce Adoption?

  • In 2023, there was more than 4 million active Web3 wallets interacting with dApps on a daily basis, a sign of the increasing popularity of decentralized apps and ecosystems.
  • Users have to pay gas fees for any on-chain activity, which can be a turnoff for some users, particularly those who are new to blockchain technology. To make these interactions simpler, innovations like smart wallets and chain abstraction are being developed.
  • Web3 gives consumers control over their digital identities and data, however currently managing multiple wallets and identities is challenging.  This function must be simple to use and meet privacy preferences as needed.

See:  Unlocking Web3 – What Every Founder Needs to Know

  • The total user base of Web3 social networks is still very small when compared to mainstream Web2 social platforms.  In an attempt to draw in companies and non-Web3 users, the ecosystem is being gamified and opened up, but widespread adoption remains difficult.

Challenges to Widespread Adoption

  • Because blockchains are decentralized, they frequently have problems with scalability and performance. Network congestion and expensive costs might result from social applications' high transaction volumes and massive data demand. To overcome these obstacles, hybrid systems combining off-chain and on-chain storage are being employed.  It will take time to achieve the scalability and efficiency needed for widespread use.
  • Web3 apps' user experiences need to be on par with or better than those of Web2 platforms.  We're talking easy-to-use interfaces, smooth interactions, and low transaction friction.
  • Campaigns for education and awareness are crucial to closing this knowledge gap and inspiring more users to embrace Web3 tech and experiences.  Complexity needs to be decreased and myths dispelled.

Conclusion

Web3 has the potential to completely transform social commerce by offering user-centric, decentralized platforms that improve engagement, transparency, and trust.

See:  Digital Identity in the Age of Web3: Empowering Individuals, Transforming Organizations

Although there are unmistakable signs of rising interest and tech progress, various obstacles need to be overcome before Web3 can be widely used for social commerce. This shift will be largely driven by ongoing innovation, user education, and efforts to make the Web3 experience simpler.


NCFA Jan 2018 resize - Is Web3 Ready for Social Commerce Adoption?The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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CCA Launch Crowdfunding Genome and Ecosystem Report 2024

Crowdfunding | Release | Jul 11, 2024

CCA Crowdfunding Genome July 2024 - CCA Launch Crowdfunding Genome and Ecosystem Report 2024

Image: CCA Crowdfunding Genome (July 2024)

Innovative tool highlights top U.S. startup ecosystems, revealing key trends and insights

Denver, Colorado, July 11, 2024 - Today, the "Crowdfunding Genome", a visualization tool and ecosystem report, was launched by Crowdfund Capital Advisors (CCA), a global authority in investment crowdfunding research, data, and analysis. This data research highlights the best cities for entrepreneurship and crowdfunding innovation while providing insights into startup ecosystems across the country.

What is the Crowdfunding Genome?

A visualization tool developed by CCA, the Crowdfunding Genome provides access to comprehensive crowdfunding data insights unveiling the inner workings of startup ecosystems. Using sophisticated analytics and exclusive investment crowdfunding data, it evaluates a number of variables that affect and rank startup performance, such as fundraising amounts, investor participation, and entrepreneurial conditions of the sector. The Genome also comes with a complimentary 'Investment Crowdfunding Ecosystem Report 2024' that explores the results.

Phoenix/Scottsdale Tops the List of Best Startup Ecosystems in the USA

According to the Crowdfunding Genome, Phoenix/Scottsdale is currently the nation's top startup ecosystem based on a number of variables contributing to the region's top ranking:

See:  Fintech Fridays EP62: The Future of Investment Crowdfunding: Innovations, Data, and Opportunities

  • Growth in valuation
  • Repeat issuers
  • Robust investment climate
  • Supportive community
  • Innovative spirit
CCA Crowdfunding Genome Phoenix Scottsdale July 2024 - CCA Launch Crowdfunding Genome and Ecosystem Report 2024

CCA Crowdfunding Genome Phoenix Scottsdale July 2024

Phoenix/Scottsdale entrepreneurs have effectively used crowdsourcing to support their businesses, creating an example that other areas might follow.

  • Total capital raised of $32.7 million raised from 97 issuers across 117 deals
  • Total checks written of 24,563 (indication of investors)
  • Crowdfunding success rate of 71.79%

Sherwood Neiss, Principal at CCA:

"We are thrilled to see Phoenix/Scottsdale recognized as the top startup ecosystem for 2024.  This accolade is a testament to the region's vibrant entrepreneurial community and the effectiveness of crowdfunding in driving business growth. It is another proof point that startups need not be located in Silicon Valley to prosper."

CCA Crowdfunding Genome Silicon Valley network - CCA Launch Crowdfunding Genome and Ecosystem Report 2024

CCA Crowdfunding Genome Silicon Valley network

California Recognized as the Best State for Startups

According to the Crowdfunding Genome, California is the ideal state for startups and is still at the forefront of investment and innovation with over $262 million raised from 654 deals across 540 issuers​.  A total of 248,748 checks written, average size $1,054. Because of its talent concentration, easy access to venture financing, and progressive laws, the state offers an ideal environment for the development of new businesses.

See:  Current State of Crowdfunding in Europe 2023 Market Report

"For the 8th consecutive year, California is recognized as the best state for startups," added Neiss. "The state’s ecosystem provides unparalleled opportunities for entrepreneurs to scale and succeed. It is exciting to see the broad application of investment crowdfunding for California entrepreneurs."

Financing Trends

The Crowdfunding Ecosystem 2024 Report reveals several emerging trends in the crowdfunding space:

  • Significant rise in investments in the biotechnology sector, reflecting the public's rising interest in advancements in the health and life sciences.
  • Also an upward trend in financing for environmentally friendly and sustainable technologies, which reflects the world's growing environmental concern.

See:  Innovating Crowdfunding with Bitcoin’s Network

  • Technology firms, especially fintech and AI, continue to draw significant investment, a sign of the industry's resiliency and growth potential.

Outlook

The Crowdfunding Genome by the Crowdfund Capital Advisors democratizes access to industry bench-marking information, promoting a more open and effective investing environment. It provides thorough insights into the functioning and potential of startup ecosystems across the United States, enabling investors, entrepreneurs, and policymakers to make well-informed decisions.


NCFA Jan 2018 resize - CCA Launch Crowdfunding Genome and Ecosystem Report 2024The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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NFX: Start Thinking ‘Service-as-a-Software’

AI | Jul 11, 2024

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Image: Freepik (AI assisted)

SMEs will be Turbocharged as we move from 'AI Tools' to 'Guided AI Agents'

We agree with NFXs recent post that using "Guided AI Agents" instead of "AI tools" can automate a large amount of work and advance automation beyond simple job execution to produce efficiencies and specific business outcomes.  For the first time ever, there's a technology that can help solve the problem of 'delivering uniqueness at scale', and small-and-medium-enterprises (SMEs) need to take advantage of this momentous opportunity.

1. Automation Potential

“This very moment, we could easily automate away 60% to 70% of the global economy’s work hours with AI.”

2. From “Tasks” to “Outcomes”

Guided AI Agents represent a shift in focus from completing tasks to achieving outcomes. This approach enables businesses to measure success based on tangible results rather than the effort spent on individual tasks.

See:  Report: Responsible AI Insights and Tips for Investors

“You can measure success in new customers gained, articles placed, deals closed. Outcomes.”

  • Marketing with AI increases conversion rates by 20% and customer satisfaction by 10%.
  • According to the Small Business Council, 93% of SMBs concur that AI is increasing profitability and saving them money.
  • Small businesses should provide AI services with the goal of producing quantifiable business results, making sure that fintech solutions complement the expansion goals of SMBs.

3. Delivering Uniqueness at Scale

SMBs have a variety of demands, and guided AI agents can meet those needs by offering customized solutions at scale. With the help of AI, small firms may now effectively compete with larger corporations by using AI to complete hard jobs.

“We can finally deliver uniqueness at scale.”

“Now, Guided AI Agents run in the background, requiring no additional time investment from the SMB.”

  • Guided AI agents can meets specific and unique requirements of SMEs in conjunction with best practices.
  • Provide AI-powered financial process management solutions that handle everything 'holistically' from payroll to invoicing, improving user experience and operational effectiveness.

See:  Google’s AI Boom Drives 50% Rise in Carbon Emissions

  • SMEs should incorporate AI solutions that run on their own, freeing up SMBs to concentrate on their core business operations while the AI takes care of intricate financial responsibilities in the background.

Outlook

The concept of "service-as-a-software" is driving this transformation, emphasizing the shift from traditional human-centric services to automated, scalable software solutions. Guided AI Agents embody this inverted thinking by offering tailored, automated services that can handle complex tasks and deliver specific outcomes without continuous human involvement leading to an increase in productivity.


NCFA Jan 2018 resize - NFX:  Start Thinking 'Service-as-a-Software'The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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Boost Your Business with Xero’s Beautiful Business Fund

Funding | Jul 10, 2024

Xero Beautiful Business Fund - Boost Your Business with Xero's Beautiful Business Fund

Image: Xero Beautiful Business Fund (website)

Xero's Beautiful Business Fund is back for 2024!

The Xero Beautiful Business Fund initiative is designed to help small businesses flourish, offering over CA$630,000 in funding across various regions, including Canada (excluding Quebec), Australia, New Zealand, Singapore, South Africa, the UK, and the US.

  • More than CA$630,000 in total funding available.  Prize winners are responsible for any applicable taxes.
  • Eligible countries include Canada (excluding Quebec), Australia, New Zealand, Singapore, South Africa, the UK, and the US. 
  • You must be a Xero small business customers in one of the specified regions with maximum 50 employees.
  • Apply by the deadline August 27, 2024
  • Winners will be announced at the end of October 2024

Step 1:  Choose One or More Categories

For your entry, choose one or more of the following categories. To increase your chances of winning, you can enter all categories:

  • 🌿Innovating for Environmental Sustainability --> Tell us how your company is advancing its sustainability initiatives.
  • 🤝 Strengthening Community Connection --> Emphasize the contributions and positive impact you're bringing to the community.

See:  UK Announces £7.3 Billion to Unlock Green Private Investment

  • 🚀 Trailblazing with Technology --> Showcase your creative use of technology to take the lead in your sector.
  • 📈 Upskilling for the Future --> Describe the steps you're taking to fill in skill shortages and preparing your team for success in the future.

Step 2: Prepare Your Entry

  1. Click the ‘Enter Now’ button.
  2. Complete the entry form. Give a brief overview of your company and the chosen category.
  3. Make a 90-second film that explains your business objectives and your intentions for the financing. This might be a straightforward phone video that you self-recorded.

Step 3: Submit Your Entry

See:  Trudeau Announces $2.4 Billion AI Funding Package

Entries must be submitted by August 27, 2024.  Winners will be announced at the end of October 2024.

Prizes and Judging

Entries will be evaluated according to how innovative, significant, and workable your ideas are. Make sure your proposal explains how the financing will help you accomplish your business goals in a straightforward and appealing way. Go here for additional information on the judging details.

  • Four winners from each country will receive CA$15,000 each (these are country prizes)
  • Four global winners will be selected from the country winners, each receiving an additional CA$40,000 (global prizes)

Spread the Word

This is a fantastic way for Xero to encourage small business innovation with direct funding support while also growing it's customer and fan base.

See:  U.S. Expanding Access to Capital Act Boosts Startup Funding

Check out these FAQs for more information, or contact xerobbfund@xero.com.


NCFA Jan 2018 resize - Boost Your Business with Xero's Beautiful Business FundThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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