FINANCIAL MANAGEMENT

SellersFunding Opens Full Suite of Financial Tools to Walmart Sellers

SellersFunding, Walmart | January 20, 2021

SellersFunding, a worldwide fintech pioneer giving funding solutions to eCommerce businesses, declared the contribution of its full line of financial tools to venders on the Walmart marketplace. Walmart venders would now be able to exploit up to $1 million in working capital, day by day advances to control income and a computerized wallet to smooth out installments to providers around the planet.

Walmart has become the second biggest eCommerce marketplace in the US, after Amazon. In the primary quarter of 2020 alone, the retail goliath encountered a 74 percent flood in eCommerce sales1. There are almost 52 million items sold on Walmart Marketplace, and in excess of 92 percent of the items are from outsider merchants.

Despite the fact that Walmart's quickly developing and perceived stage presents a chance for outsider dealers to become their multi-channel activities, many need backing to settle and develop their business in this marketplace.

Specifically, Walmart manages keeping the most reduced costs on items and will eliminate an item if a similar one is recorded at a lower cost on another site. Numerous venders should conform to this income model that depends on high volume deals to look after productivity, as indicated by SellersFunding.

“Sellers face unique challenges running their businesses on Walmart,” says Ricardo Pero, Chief Executive Officer of SellersFunding. “We are providing them with the financial support and tools they need to operate the kind of high volume business that succeeds in this environment. Having easy access to working capital, regulating daily cash flow and streamlining payments to suppliers across borders are essential aspects of operating a profitable eCommerce business on Walmart.”

About SellersFunding
SellersFunding operates a global financial platform which provides financial tools focused solely on online marketplace sellers. Their machine-learning model offers working capital to businesses frequently not eligible due to their global expansion, coupled with a robust currency exchange and transfer system, making it a “one-stop-shop” for marketplace sellers.

Spotlight

Since James Barclay became a partner in a goldsmith business in 1736, and particularly in the current age of digitalisation and globalisation, we have seen entrepreneurial journeys become faster, and more complex. Each entrepreneurial journey is of course unique, but we believe there is a great deal of commonality in terms of what does and doesn’t work, in the critical ‘pre-exit’ period before a business is sold.


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FINANCIAL MANAGEMENT

Keep Financial Launches New Compensation Platform to Attract Top Talent and Increase Employee Retention

Keep Financial Technologies | May 19, 2022

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BITCOIN AND CRYPTO

Facepay Announces Facepay Crypto to Bring Cryptocurrency Payments to Auto Shops

Facepay | March 07, 2022

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BITCOIN AND CRYPTO

SoFi Launches No-Fee Cryptocurrency Purchases for Direct Deposit Members

SoFi | March 25, 2022

SoFi Technologies, Inc. (“SoFi”), the digital personal finance company, today announced members will now be able to invest part of every direct deposit into cryptocurrency¹ with zero fees². This feature builds on SoFi’s robust offerings for Checking and Savings³ accounts, which already includes no account or overdraft fees, up to two-day early paycheck⁴ and an industry-leading 1.00% annual percentage yield (APY).⁵ Members will be able to set a recurring purchase⁶ for the cryptocurrency of their choice with each paycheck for no purchase fee, investing either by dollar amount or percentage of their deposit, into one of 30 coins. This feature is currently live to all members with both a SoFi Invest®⁷ crypto account and SoFi Checking and Savings account. Crypto investing is rising rapidly. In the last year alone, SoFi doubled the number of investors setting up automatic, recurring crypto purchases, By adding the ability for members to automate crypto purchases right from their paycheck, we’re making it easier than ever for our members to customize how they manage their spending, saving, and investing all in one place to help them get their money right.” Anthony Noto, CEO of SoFi. Alongside no-fee crypto purchasing, SoFi has launched a new online educational center to explain the ins and outs of cryptocurrency to investors. The new center is an ongoing resource to both crypto newbies and seasoned veterans alike throughout their investing journey. This product is the latest expansion of SoFi’s offerings to make it simpler to get started with cryptocurrency investing, including its offering to redeem SoFi Credit Card⁸ points directly into cryptocurrency. These features were created to allow SoFi members to invest when and how they want, all in the same app they can manage their credit card, bank accounts and investments. About SoFi SoFi helps people achieve financial independence to realize their ambitions. Our products for borrowing, saving, spending, investing and protecting give our over three and a half million members fast access to tools to get their money right. SoFi membership comes with the key essentials for getting ahead, including career advisors and connection to a thriving community of ambitious people. SoFi is also the naming rights partner of SoFi Stadium, home of the Los Angeles Chargers and the Los Angeles Rams.

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FINANCIAL MANAGEMENT

Global Business Spend Indicator, New Survey By American Express, Shows U.S. Businesses Have Bullish Outlook on B2B Spending

American Express | June 01, 2021

Survey indicates that U.S. spending is on the rise across nine key business-to-business (B2B) categories. U.S. survey respondents cited that raw or processed materials, such as lumber, metals, and chemicals, are outpacing all other B2B spending categories. Automation is anticipated to be the fastest-growing area in technology spending, with nearly half of U.S. survey respondents planning to automate or further automate their B2B payments over the next year1. Flexibility is key for the U.S. businesses surveyed, which are adapting their supply chains due to pandemic challenges. New York, June 1, 2021 – American Express today launched the Global Business Spend Indicator (GBSI), a new survey of global businesses conducted with the Centre for Business and Economic Research (CEBR)². The survey reveals U.S. businesses are the most bullish and optimistic when it comes to B2B spending among the six countries covered in the survey, with 76% of U.S. businesses expressing optimism about their prospects over the next 12 months. Respondents predicted that B2B spending in the U.S. will be an average of 3.4% higher in the second quarter compared to the same period last year. Applying that projection from the survey respondents to broader U.S. macroeconomic data would equate to an estimated $140 billion in additional B2B spending from U.S. businesses³. “B2B spending is an important bellwether for the overall health of the economy, and the GBSI study shows U.S. businesses are investing and spending more, whether to adopt to the new ways of operating during the pandemic, or to digitize and streamline their operations,” said Dean Henry, EVP, Global Commercial Services at American Express. “It also reveals that some of the trends that have emerged or accelerated during the pandemic, such as payments automation and new approaches to managing the supply chain, are likely here to stay.” CEBR estimates that the value of B2B expenditures each year amounts to nearly half (48%) of gross output (the total value of sales or receipts) in the U.S. economy. This means that for each dollar spent in the U.S. economy, approximately 48 cents are B2B transactions. The GBSI is designed to explore the importance of business spending in both the global and local economies based on a survey of more than 3,600 businesses of all sizes and across industries in the UK, Australia, Canada, Japan, Mexico, and the U.S. For this report, B2B spend is classified as goods and services that a business purchases from another business to keep their business running. The survey looked at nine B2B spending categories, and three additional categories of taxes, people / workforce, and travel, entertainment and expenses, for a robust look at the dynamics and impact of overall business spending. Raw or Processed Materials Top B2B Spend Categories U.S. businesses surveyed reported that they have increased their overall B2B spending across all the core categories since the start of the year. The highest growth rates were in spending on raw or processed materials such as lumber, metals, and chemicals, which rose by an average of 6.2% between Q1 2020 and Q1 2021, according to survey respondents. This would equate to an estimated $37 billion in additional spend when applied to U.S. macroeconomic data, most likely due to rising prices of raw materials after the onset of the pandemic. This trend is expected to continue, with the U.S. businesses surveyed anticipating another 6.4% rise in spending in this category from Q2 2021 over the prior quarter. U.S. Businesses Lead in Payments Automation, with Plans to Continue Investing in the Year Ahead Within the technology spending category, automation is the fastest anticipated growth area among the U.S. businesses surveyed. While many businesses have already been digitizing their B2B payments over the past few years, the pandemic helped accelerate this trend more broadly. The GBSI found that, of the six surveyed countries, U.S. businesses have the highest level of automation across most business functions, including with purchasing / procurement, payroll, paying suppliers, supplier analysis, and syncing payments to the existing ledger. In fact, nearly half of U.S. businesses surveyed said they are mostly or fully automating the making (48%) and receiving (51%) of payments from business customers. In addition, there is more opportunity ahead as nearly half (46%) plan to automate or further automate each of these functions over the next 12 months. With more automation, U.S. businesses may vastly reduce their reliance on manual payment methods – like writing and sending physical checks – which are still prevalent, with 33% of U.S. business spend currently using physical payment methods, according to the businesses surveyed. On the whole, technology spending by U.S. businesses surveyed rose by an average of 4.1% between Q1 2020 and Q1 2021, equating to an estimated $25 billion in additional spend when applied to U.S. macroeconomic data, likely driven by the rapid digitization of businesses such as e-commerce capabilities or website enhancements. Nearly a quarter (22%) of U.S. businesses surveyed list increasing their online presence among their top three goals and 39% expect to expand their use of virtual cards over the next 12 months. U.S. Businesses Prioritize Streamlined and Flexible Supply Chain Relationships For many businesses, the experiences during the pandemic highlighted ways to streamline and seek more flexible ways to manage their supply chains and operating practices. Over the last 12 months, 23% of U.S. businesses surveyed took steps to simplify their network of suppliers, 23% reduced or avoided long-term commitments to purchase from specific suppliers, and 22% chose suppliers with more flexible payment terms. Looking Ahead Over the next 12 months, U.S. businesses in the survey cite increasing profitability (34%), securing new business or bringing on new customers (32%), and remaining competitive (31%) as being among their three most important goals. CONTACTS: AMERICAN EXPRESS Melissa Filipek melissa.j.filipek@aexp.com Felicia Macdonald felicia.m.macdonald@aexp.com

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Spotlight

Since James Barclay became a partner in a goldsmith business in 1736, and particularly in the current age of digitalisation and globalisation, we have seen entrepreneurial journeys become faster, and more complex. Each entrepreneurial journey is of course unique, but we believe there is a great deal of commonality in terms of what does and doesn’t work, in the critical ‘pre-exit’ period before a business is sold.

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