Cepton Technologies and Growth Capital Acquisition Corp. Completes their Business Combination

Cepton Technologies, Inc. and Growth Capital Acquisition Corp. announced the completion of their previously announced business combination. Cepton Technologies, Inc. is a Silicon Valley innovator and leader in high-performance lidar solutions.

The business combination was agreed upon at a particular meeting of GCAC’s stockholders on Wednesday, February 9, 2022. “The day is a special milestone for Cepton,” said Dr. Jun Pei, Cepton’s Co-Founder and CEO. “We founded Cepton to enable safe and autonomous transportation for everyone, and today’s announcement is another step in making that vision a reality. As a public company, we remain focused on the goals of mass-market lidar adoption in consumer vehicles and expanding our market leadership position while driving value for all of Cepton’s stakeholders.”

On the spread of the news, George Syllantavos, co-CEO of GCAC, also added, “We are delighted with the successful completion of this business combination. Cepton is at the forefront of technological advancements with the industry's largest known ADAS lidar series production award and ongoing engagements with all of the Top 10 global OEMs. We are delighted about the future and persisting in supporting the company in its public phase.”

I am impressed by the elegant technical resolutions Cepton is fetching to the lidar industry in addressing automotive ADAS needs. I’m certain that Cepton’s solutions will gain further commercial triumph in automotive and other markets. Time works in Cepton’s favor now that its public life has begun, and its vision is on track to materialize,” said Akis Tsirigakis, co-CEO of GCAC.

 Akis Tsirigakis, co-CEO of GCAC

The combined business journey will continue to be led by Dr. Jun Pei and the rest of the current Cepton management team. In addition, George Syllantavos, co-CEO of GCAC, will serve as a director of Cepton.


Cloud (Saas) technology is known for being a cost-effective solution with quicker implementations, minimal use of hardware, and low maintenance costs. For your indirect tax function, regardless of whether you use native ERP functionality or an integrated on-premise tax engine to calculate tax, there are both external and interna


Cloud (Saas) technology is known for being a cost-effective solution with quicker implementations, minimal use of hardware, and low maintenance costs. For your indirect tax function, regardless of whether you use native ERP functionality or an integrated on-premise tax engine to calculate tax, there are both external and interna

Related News

Financial Management

BNY Mellon Unveils Bankify, A Cutting-Edge Addition to Its Portfolio

BNY Mellon | September 11, 2023

BNY Mellon and Trustly have joined forces for an open banking payment solution with guaranteed settlement. This open banking payments solution ensures a smooth user experience and guarantees funds for business receivables. Bankify integrates BNY Mellon's proficiency in transaction payments with Trustly's prominent open banking capabilities. Bankify, BNY Mellon's latest innovation, introduces an open banking payments solution designed to streamline the process of accepting payments directly from consumers' bank accounts, making it more convenient for organizations. It represents a pivotal stride forward in modern finance, designed with meticulous care to simplify and optimize payment interactions. BNY Mellon clients will now have the power to empower their end-users with a straightforward method for conducting transactions directly from their bank accounts, presenting a viable and enticing alternative to credit cards, debit cards, and third-party payment platforms. Bankify's innovation is not confined to a single niche but embraces the entire digital finance ecosystem. Its meticulous design ensures that it caters comprehensively to diverse payment needs, offering simplicity, security, and choice. By bridging the gap between traditional banking and the dynamic world of digital finance, Bankify streamlines payments and enhances customer experiences. It stands as a testament to BNY Mellon's forward-thinking approach and dedication to pushing financial technology's boundaries. "Bankify moves the needle for the payments industry in both the depth of the solution and the diverse range of organizations it can support," expressed Jennifer Barker, Global Head of Treasury Services for BNY Mellon. [Source: Cision PR Newswire] Jennifer's emphasis on Bankify's capabilities underscores its remarkable versatility and effectiveness across various sectors of the financial industry. Bankify's account linking and settlement guarantee features stand out as powerful assets in a wide range of scenarios. Whether a merchant seeks cost-effective payment processing, a biller aims to modernize customer interactions and secure banking data sharing, or a brokerage firm requires guaranteed settlement for instant fund access during enrollment, these features provide significant benefits. They streamline operations and greatly enhance an organization's overall financial performance, highlighting Bankify's profound impact on the financial spectrum. Meanwhile, Alexandre Gonthier, Founder and CEO of Trustly, Inc., also highlighted the driving force behind the collaboration with BNY Mellon. The shared dedication to advancing the payment industry and establishing a fresh, open banking-based standard for consumer and business payments has been a central driving force. This partnership underscores a shared belief that consumers should have access to a financially responsible payment method while merchants stand to gain valuable insights from open banking-enabled data. Nevertheless, the essence of Bankify lies in its versatility, accommodating a broad spectrum of consumer-to-business payment scenarios, including merchant payments, bill settlements, and the funding of digital wallets or accounts.

Read More

Core Banking

Bank of America's Global Digital Disbursements Now Available in Canada

Bank of America | September 05, 2023

Bank of America has introduced its alias solution, Global Digital Disbursements, to cater to its corporate clientele who maintain deposit accounts at the bank's Canadian branch. With the launch of this digital solution, the company will become the first U.S. financial institution operating in Canada to provide both C2B 'Request for Pay' and B2C payment processes. This development marks a significant achievement for Bank of America in Canada as it aligns itself with the dynamic digital requirements of its multinational clientele. It will provide heightened expediency, adaptability, and transparency in managing the payment and receipt procedures. Global Digital Disbursements will streamline handling numerous B2C payments and C2B collections, utilizing an individual's email address or mobile phone number as the identifying information. This solution represents a cost-effective and user-friendly payment alternative for enterprises seeking to substitute cash or check transactions. The application of Global Digital Disbursements exhibits divergence across various industries. For instance, its agility is harnessed within the insurance sector to facilitate expeditious claim settlements. Similarly, technology firms find utility in this solution for its convenience in compensating freelance employees or 'gig' workers, eliminating the necessity to handle sensitive financial data. Moreover, in emergencies, non-profit organizations place significant stakes in the capability to electronically disburse financial aid to individuals who may find themselves displaced from their physical locations. Canada represents one of the pioneering markets where the 'Request for Pay' feature will be accessible in conjunction with Global Digital Disbursements. This feature enables a business to send invoices to customers via text message or email along with a payment link, speeding up the receipt of payments. Moreover, the company added that introducing Global Digital Disbursements in Canada coincides with the bank's 75th anniversary of operations. This eagerly-awaited launch underscores its dedication to fostering indigenous advancements in financial services, enabling its clients to achieve cost efficiencies and maintain a competitive advantage.

Read More

Trading Systems

Finastra and ELCY partner to bring Corporate Trade Finance Portal to market

PR Newswire | October 23, 2023

Finastra, a global provider of financial software applications and marketplaces, is partnering with ELCY, a specialist in e-commerce solutions for the processing of international trade finance, to provide a trade finance solution for corporates. The Corporate Trade Finance Portal from Finastra and ELCY will enable corporates to communicate in a secure and authenticated manner with all their banks through one centralized platform. As a result, corporates will benefit from greater visibility and real-time control of all trade finance exposures across their organizations. The transition away from the complexity of connecting to multiple bank proprietary systems and the removal of inefficient paper-based processes will also deliver significant cost and efficiency savings. Finastra is thrilled to build on our long-term relationship with ELCY through a global collaboration that creates immediate value for both parties, said Jaime Lynn, Vice President, Enterprise Solutions, Finastra. ELCY brings a wealth of expertise in meeting the trade finance needs of corporates, while Finastra meets the end-to-end digitization needs of banks focused on international trade and supply chain finance. Our close collaboration with ELCY expands our suite of solutions for corporates, enabling them to connect to all banks supplying them trade finance through a single portal. Corporate users benefit from much greater visibility and control in managing their cash flow and trade finance exposures and in reducing risk. Robin Cohen, Chief Executive Officer, ELCY added: "Our partnership with Finastra will further increase our visibility and reach in the market, helping us deliver the benefits of our multi-bank portal solution to corporates globally. Customers using our joint Corporate Trade Finance Portal will be equipped to communicate seamlessly, both on the import and export side, with any SWIFT-enabled bank in the world to manage their day-to-day trade finance processing. All instructions or messages sent through the portal can be tailored to conform with the message type preferred by the bank in question. Furthermore, the portal includes extensive modular functionality enabling corporates to monitor counterparty and bank exposure, manage global bank limits and provide reports for credit and treasury departments all in real time." The Corporate Trade Finance Portal is available as a cloud-based, multi-tenant SaaS solution meaning no software installation is required on site and all users benefit from the ability to adapt quickly to new market requirements through centrally-managed software upgrades.

Read More