Wave Financial | April 01, 2022
Wave Financial LLC (Wave), a SEC regulated digital asset investment management company, is pleased to announce the launch of the Wave ADA Yield Fund. The fund is designed to provide liquidity with millions in line to support new decentralized finance (DeFi) platforms launched in the Cardano ecosystem starting with an initial $100M.
We're thrilled to continue breaking ground in the field of cryptocurrency through the creation of innovative new funds, and today we are launching what we believe is the first pure liquidity provisioning fund in crypto, Our new fund will support the new decentralized exchanges, lending protocols, and stablecoin issuers building on Cardano. Each of these decentralized applications adds to the strong foundation of the Cardano blockchain as it realizes a fully functional and diverse ecosystem."
David Siemer, CEO of Wave Financial.
The new ADA Yield Fund represents the continuation of Wave's mission to support promising entrepreneurs within the crypto space beyond the early stage and foster greater innovation in the overall crypto ecosystem.
Since the formal launch of smart contracts in 2021, the Cardano community has launched and funded hundreds of companies building on the Cardano blockchain, Cardano's growing ecosystem is hosting an ever expanding universe of applications supporting significant numbers of active users – it's critical for the success of the ecosystem that Cardano-based projects thrive, and so we are pleased that the ADA Yield Fund is committing substantial financial resources to facilitate continued growth and market acceptance."
Charles Hoskinson, founder of Input Output.
Historically, DeFi dApps are among the most popular in crypto in terms of bringing more users and applications on-chain. Specifically, decentralized exchanges (DEX) and DeFi lenders have gained the fastest popularity in terms of attracting users and capital. DEX typically are set up without market makers, but with two pools of assets that represent each side of a trading pair that serve as a source for DEX counterparties to trade against when they want to transact on either side of the pair. Wave will be using the ADA Yield Fund to provide liquidity to these pairs of pools to support Cardano DEXes. For DeFi lenders, there will also be a similar form of support to augment liquidity to facilitate lending. Also, Wave will continue to support and expand stake pools to strengthen the Cardano network.
EMURGO is excited to support the creation of this valuable ADA Yield Fund to further drive expansion and adoption of Cardano's quickly developing DeFi ecosystem, Providing strategic capital resources through the fund will help talented entrepreneurs and projects to build essential DeFi services on Cardano, ultimately delivering impactful solutions and onboarding more users to the global Cardano community."
Ken Kodama, founder & CEO of EMURGO.
About Wave Financial
Wave Financial LLC (Wave) is a Los Angeles based investment management company that provides institutional and private wealth digital asset management solutions. Led by a team of highly experienced financial services professionals, Wave provides investable funds via diverse investment strategies applied to digital assets and tokenized real assets. Wave also offers managed accounts for HNWIs and family offices seeking tailored digital asset exposure, bespoke treasury management services, and early-stage venture capital and strategic consultation to the digital asset ecosystem. Wave is registered with the US Securities & Exchange Commission as an investment adviser.
REPAY, BillingTree | May 11, 2021
Repay Holdings Corporation, a leading provider of vertically-integrated payment solutions, today announced it has signed a definitive agreement to acquire BillingTree for approximately $503 million. The acquisition will be financed with approximately $275 million in cash from REPAY’s balance sheet and $228 million in newly issued shares of REPAY Class A common stock to be issued to the seller. The transaction is subject to certain customary closing conditions and is expected to close by the end of the second quarter of 2021.
BillingTree, founded in 2003 and headquartered in Scottsdale, AZ, is a leading provider of omni-channel, integrated payments solutions to the Healthcare, Credit Union, Accounts Receivable Management (ARM), and Energy industries. Through its technology-enabled suite of products and services, including a variety of payment channels and reporting capabilities, BillingTree helps organizations get paid faster and more efficiently.
“We are thrilled to announce this acquisition, our largest to date, and look forward to further expanding our position in Healthcare, Credit Unions, and Accounts Receivable Management with the help of BillingTree’s team and strong platform capabilities,” said John Morris, CEO of REPAY. “BillingTree satisfies all of our acquisition investment criteria, including a large addressable market opportunity that is amid a shift away from legacy payment methods and towards the technology-first, industry-specific payment mediums in which BillingTree specializes. Additionally, BillingTree has strong recurring revenue streams, high customer retention, approximately 50 unique ISV integrations, an attractive financial profile, and numerous opportunities for synergy realization. We are looking forward to welcoming BillingTree into the REPAY family and together pursuing many amazing growth opportunities ahead.”
“BillingTree’s unique approach has always been to develop strategic alliances with service, software, and billing providers resulting in full integrations that create seamless, compliant, and innovative payment solutions. We believe that we are an ideal strategic partner for BillingTree, as we also go to market with a highly integrated, omni-channel approach. Together, we can capture more of the massive addressable market in payments and combine our incredible team members and technology to create simplified experiences for merchants across our collective, ever-expanding verticals,” continued Morris.
Credit Suisse served as exclusive financial advisor and Troutman Pepper served as legal advisor to REPAY. Financial Technology Partners (“FT Partners”) served as exclusive financial advisor and Kirkland & Ellis served as legal advisor to BillingTree and Parthenon.
BillingTree is a leading provider of integrated payments solutions to customers in the Healthcare, Credit Union, ARM, and Energy verticals. Leveraging more than a decade of market experience, BillingTree is dedicated to growing payments with technology through an integrated omni-channel offering, suite of proprietary products and value-added services, and a company-wide focus on delivering extraordinary customer service.
REPAY provides integrated payment processing solutions to verticals that have specific transaction processing needs. REPAY's proprietary, integrated payment technology platform reduces the complexity of electronic payments for merchants, while enhancing the overall experience for consumers and businesses.
Centime | April 12, 2022
Boston-based fintech partners with First National Bank of Omaha (FNBO) to develop SaaS solution to manage key aspects of cash flow control lifecycle: forecasting, managing receivables and payables, and obtaining credit
BOSTON, April 11, 2022 /PRNewswire/ -- Today Centime, a Boston-based fintech, launched Cash Flow Control: a first-of-a-kind solution purpose built to help small and mid-sized businesses control and manage cash flow.
Effective immediately, Centime Cash Flow Control is available to all U.S.-based businesses using the financial General Ledger applications of Intuit QuickBooks and Oracle NetSuite.
The solution consists of several interconnected modules that work together to support the cash control lifecycle of a business
Automated rolling 13-week cash flow forecasting uses artificial intelligence (AI) and machine learning to predict cash inflows and outflows
Accounts receivable management provides increased visibility into payment delays, facilitates on-time payments through automated reminder campaigns, and drives online payments through an integrated merchant account
Accounts payable management helps determine who, when and how to pay with the goal of maximizing working capital
Integrated credit solutions facilitate the bridging of cash flow gaps and short-term working capital needed to support growth
KPI monitoring provides the metrics and insights required to ensure robust cash flow performance
Centime Cash Flow Control gives business leaders a clear picture of how each element of cash flow control affects the other in a real-time, rolling basis and taps into AI and machine learning to blend businesses' historical data with industry trends to deliver visibility, predictions, management and control.
Businesses have opportunities to grow in good times and bad, And in both good times and bad, cash makes or breaks businesses. For most businesses, cash flow management is poorly understood, overly complicated and inconsistently managed. Centime Cash Flow Control is a simple, easy to use solution that allows businesses to manage one of their most critical resources."
Centime founder and CEO BC Krishna.
Covid exposed the risks posed to businesses by poor cash management — or simply an uncertain environment. As businesses across America continue to struggle with labor shortages, supply chain disruptions, inflation and uncertainty in the world, they must take ownership of their cash. While the government's Paycheck Protection Program (PPP) helped businesses bridge gaps at the height of the pandemic, and banks stepped in to further accommodate their clients' unforeseen stressors, moving forward requires that business leaders gain control over all aspects of their cash.
Centime was founded just before the global Covid pandemic struck in 2020, creating unexpected disruptions while also opening doors to creative solutions. In the intervening two years, an extended team of 150 engineers, designers, product managers, finance professionals, payments experts and bankers from Centime and its strategic partner FNBO have worked closely to develop this unique, simple, yet comprehensive cash flow control solution.
A beta testing initiative, Centime's Early Access Program (EAP), provided valuable client feedback that has and continues to influence the features and functionality of Cash Flow Control — ensuring it truly provides transformative, actionable insights for businesses.
That's the hope for a person like me, an average, small to mid-sized business owner and executive officer, Getting to a point in time when projecting my cash flow is simple, accurate, and meaningful to help me get a pulse on my businesses has been a revelation.
Todd Murphy, CEO at Universal Information Services and a Centime EAP client.
Carrie Zoucha, FNBO's VP, commercial payments, who knows Murphy's business as a member of the team that serves his banking needs, spoke to Centime's product development collaboration with the bank. "From the very beginning, our partnership with Centime has been a relationship built on mutual trust, collaboration and innovation. At FNBO, we take pride in being customer-led and providing guidance to help businesses grow. Our partnership with Centime has allowed us to take a common problem that so many businesses face, and help build a solution to help them thrive. It's been exciting to see Centime come to life, and particularly invigorating to hear about its impact from our customers."
Centime, Inc. is a Boston-based fintech led by a veteran team of banking, payments, design and fintech professionals. We are bound by a shared desire to help small to mid-sized businesses thrive through strategic cash flow management.
First National Bank of Omaha is a subsidiary of First National of Nebraska. First National of Nebraska and its affiliates have more than $26 billion in assets and nearly 5,000 employee associates. Primary banking offices are located in Nebraska, Colorado, Illinois, Iowa, Kansas, South Dakota, Texas and Wyoming.
M&T Bank | January 15, 2022
M&T Bank today announced it is expanding the services it provides to communities with high concentrations of ethnic and racial diversity by designating an additional 100 bank branches as multicultural centers. Located in cities across the Northeast and Mid-Atlantic, the centers will offer banking and other financial services in customers' preferred languages and employ bankers from the community who understand the cultural nuances of the individuals and neighborhoods they serve.
To celebrate the milestone, M&T customers, partners and employees will ring the opening bell at the New York Stock Exchange today, January 13.
The expansion of M&T's multicultural banking centers – from 19 designated branches to 118 – is part of the company's mission to be a culturally fluent bank for all communities, especially as the nation becomes more diverse. People of color make up more than 40 percent of the U.S. population and over half the country's youth population, according to the latest census data.
As this nationwide demographic shift accelerates, our multicultural banking initiative will help us meet the changing needs of our communities. With our recent designation of new multicultural banking centers, we are demonstrating our clear intention to be the bank for all communities."
David Femi, head of Multicultural Banking & Diverse Market Strategy at M&T Bank.
The new centers will serve as community hubs where customers can receive banking services in their preferred language and with an understanding of their culture. The centers will also create opportunities for businesses, nonprofits and community members to attend networking events, financial literacy classes, collaborate on community projects, and more.
"Our community model has always enabled us to develop a deep local understanding of the people and places we serve," said Chris Kay, head of consumer banking, business banking and marketing at M&T Bank. "With our multicultural banking centers, we're taking the natural next step — providing a distinctive M&T experience shaped by the preferences and perspectives of the diverse customers who rely on us. This locally customized, empathetic approach will help families and neighborhoods have easy access to credit services — an important priority for us and the communities we serve."
M&T's first multicultural banking center branches, which launched in 2020, have informed the continuous improvement of the model aimed at reaching customers with limited English proficiency. The new center locations were identified based upon insights from community partners, M&T's local bankers and neighborhood-level census data on non-English speakers.
New Digital Tools in Multiple Languages
To make its digital banking tools easier to navigate for non-English speakers, the bank launched a Spanish-language website — available at mtb.com/es — that provides access to financial information and resources, including educational tools and online branch-appointment setting.
"Our multicultural banking centers are important community-gathering places for advice and guidance. Yet, with many customers embracing online and mobile banking tools, we're also building new digital capabilities designed to provide meaningful experiences and serve essential needs in multiple languages," said Mary Kate Loftus, director of digital banking at M&T.
Additionally, M&T updated its ATM network to provide services in Chinese and Korean. At over 1,600 ATMs, customers are now able to complete cash transactions in Chinese, Korean, Spanish and English. M&T also offers phone assistance in 240 languages at 1-800-724-2440.
Enduring Commitment to Multicultural Communities
These new developments are part of the bank's wider efforts to enhance its customer experience and contribute to inclusive growth in its communities. Through constant engagement with a large network of faith-based organizations, neighborhood groups and other community partners, M&T is continuously learning and developing new ways to serve local families, individuals and businesses — from organizing financial empowerment sessions to developing new products like its secured credit card to creating its Multicultural Small Business Innovation Lab.
Recently, M&T's MyWay Banking Account achieved certification as meeting the Bank On National Account Standards, a set of account features identified to ensure local access to safe, affordable bank accounts particularly among underserved households. M&T has also maintained a 40-year streak of earning "Outstanding" Community Reinvestment Act (CRA) ratings, the Federal Reserve's highest-possible rating for meeting the credit needs of communities.
About M&T Bank
M&T Bank Corporation is a financial holding company headquartered in Buffalo, New York. M&T's principal banking subsidiary, M&T Bank, operates banking offices in New York, Maryland, New Jersey, Pennsylvania, Delaware, Connecticut, Virginia, West Virginia and the District of Columbia. Trust-related services are provided by M&T's Wilmington Trust-affiliated companies and by M&T Bank.