Singapore headquartered Fintech platform VoloFin said that Mohit Agarwal will join the company as Co-Founder and Chief Executive Officer. VoloFin is a Block Chain powered digital platform providing invoice financing and is amongst the first to leverage blockchain for MSME and SME lending.
The gap in SME lending is largely due to low-risk appetite, high acquisition & compliance cost of traditional lenders. VoloFin skillfully solves this gap while delivering exceptional value to all the stakeholders.
VoloFin’s proprietary technology allows SME’s get instant in-principle approval and price indications. A specially designed simple and minimalistic user interface allows a fully digital, easy, and quick onboarding journey for a comprehensive user experience, keeping the complete UI/UX design set on the cutting edge.
Prior to this, Mohit was CEO – JLT Independent and Managing Director at Marsh for over 13 years. He played a vital role in the growth story of Marsh for last several years and was instrumental in successful merger of JLT Independent with Marsh in India. Sanjay Kedia, CEO, Marsh India said, “Our association with Mohit was an excellent journey and we wish Mohit the very best in his journey forward.”
“With many SME clients seeking financial solutions and support, there has never been a more important time for technology driven lending. I am passionate about VoloFin’s purpose, strategy, and the part it will play to help clients, investors, employees, and communities leverage technology for good. I am very much looking forward to working with the team,” Mohit said.
“We are excited to have Mohit join VoloFin and are confident his leadership will take the platform to new heights. It’s a privilege to get back as a team again with a new purpose of serving SME’s globally, innovating and redefining technology led lending” said Anand Tiwari & Roshan Shah, Co-Founders, VoloFin.
NEW YORK, — Ideanomics (NASDAQ: IDEX) announced that its Mobile Energy Global (“MEG”) and its contracting entity Qingdao Chengyang Medici have signed an agreement with Meihao Chuxing, a joint venture between BYD and Didi, to purchase an initial 2,000 units of model BYD D1. The ride-hailing vehicles are intended for deployment in multiple cities within China, with deliveries expected to begin in H1 2021.
“The D1 is a very thoughtfully designed ride-hailing EV and is a culmination of the latest design and technology to bring drivers and their customers an enjoyable travel experience. We are very pleased to work with Meihao Chuxing and BYD to promote the sales of the D1,” said Alf Poor, Ideanomics CEO. “Supported by a viable government subsidy program, the proliferation of EVs in China is a testament to the value that public and private partnerships can bring to large scale global challenges. We look forward to developing these types of partnerships and the rollout of more innovative vehicles like the D1 to our taxi and ride-hailing customers.”
Meihao Chuxing (Hangzhou) Automobile Technology Co., Ltd. was established in 2019, though a 65/35 joint venture between BYD and Didi with BYD having controlling interest. Launched in November 2020, model BYD D1 was jointly developed by BYD and Didi as the world’s first custom-built, all electric car for ride-hailing. The vehicles feature L2 Assisted Driving system, are linked with a fleet management system that helps large fleet operators track and optimize operational status, real-time energy management, as well as a myriad of other safety and comfort features. BYD D1 is equipped with its latest Blade Battery (LFP chemistry) with a range of 418 km (260 miles) and can reach top speeds of 130 km/h (81 mph). Didi Chuxing is deploying and promoting the ride-hailing service in a number of Chinese cities. Passengers can order the customized ride-sharing service via the Didi app.
BYD Company Ltd. is one of China’s largest privately owned enterprises. Since its inception in 1995, the company quickly developed solid expertise in rechargeable batteries and became a relentless advocate of sustainable development, successfully expanding its renewable energy solutions globally with operations in over 50 countries and regions. Its creation of a Zero Emissions Energy Ecosystem – comprising affordable solar power generation, reliable energy storage, and cutting-edge electrified transportation – has made it an industry leader in the energy and transportation sectors. BYD is listed on the Hong Kong and Shenzhen Stock Exchanges. More information on the company can be found at www.byd.com.
Ideanomics is a global company focused on the convergence of financial services and industries experiencing technological disruption. Our Mobile Energy Global (MEG) division is a service provider that facilitates the adoption of electric vehicles by commercial fleet operators through offering vehicle procurement, finance and leasing, and energy management solutions under our innovative sales to financing to charging (S2F2C) business model. Ideanomics Capital is focused on disruptive fintech solutions for the financial services industry. Together, MEG and Ideanomics Capital provide our global customers and partners with leading technologies and services designed to improve transparency, efficiency, and accountability, and our shareholders with the opportunity to participate in high-potential, growth industries.
The company is headquartered in New York, NY, with offices in Beijing, Hangzhou, and Qingdao, and operations in the U.S., China, Ukraine, and Malaysia.
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NEW YORK, USA, December 22, 2020 /EINPresswire.com
/ — Crypto Asset Rating Inc
is an Independent Structured Rating Agency, comprehensively rate crypto assets for Institutional and Retail Clients. The Company developed a custom rating algorithm to conduct an exhaustive multi-layered evaluation covering four distinct risk buckets—business, financial, legal, and technology. We are committed to bringing transparency and transformation to Global Capital Markets.
The market of crypto is often plagued with some fraudulent cases and projects that often fail. If there are no mandatory disclosures and regularity oversight, investors may have less information about the crypto asset. Crypto Asset Rating Inc understands how demotivating this can be for the investors, which is why we offer an incredible rating system that focuses on objective analysis of the underlying business. The Crypto Asset Rating Platform (CARP) considers both quantitative and qualitative parameters.
Crypto Asset Rating Inc proud to announce that we have rated the LMY token of Restaurant P.I.
The idea of Restaurant P.I. targets increasing the value delivery from restaurant businesses to the people. Hence, fulfilling them with the highest standards parallels. Restaurant Owners can improve their profits by working on the feedback and make a positive image to gain loyal customers.
Understanding the Rating Methodology:
Crypto Asset Rating Inc developed a proprietary rating algorithm, which our team periodically reviews. Our team of analysts analyses the tokens based on our parameters through multi-layered evaluation. The final review committee reviews the rating of crypto-assets on the Well-defined rating grid, starting with AAA as investment grade to D.
Crypto Asset Rating developed the proprietary rating algorithm with 15+ categories and more than 125 rating parameters.
Overview of LMY Token Rating
Our rating methodology used for Restaurant PI, results in a rating of CC. For rating, publicly available data has been used along with the data provided by the company. The Final Rating has been performed keeping in mind the COVID-19 situation, which has negatively impacted the industry Lunchmoney has been present in. We hope that the current situation will improve in the next six months, and Lunchmoney will have a better rating than it has now.
Analysts have rated financial, business, legal, and technical categories based on various parameters, which have different weights regarding their importance for a business. Financial analysis shows the company is still in its initial phase and has not yet started to perform well in cash flows. It has a lot more scope to improvise. As per the business analysis, the company has a good business model and can grow fast.
About Lunch Money:
Lunch Money is a personal finance tool based on the web. LMY is a great budgeting instrument for the new-age spender. The app is equipped with the support of its native multicurrency and offers excellent exchange utilities.
LMY users can drop in on a specific restaurant to rate and review it based on the service and quality. Users can then offer feedback on the LMY platform so that the restaurant can make necessary corrections with this anonymous input. For reviewing the restaurant, the individual customer will be reimbursed with the native tokens of the LMY platform. These tokens can be exchanged for future orders. LMY, the ERC20 token uses Ethereum Blockchain as its base. LMY helps to address poor service to restaurant-goers with the aid of anonymous oversight from customers and incentives. People around the globe will be able to earn crypto by sharing their feedback.
About Crypto Asset Rating
The crypto industry holds invaluable opportunities towards exponential economic growth through financial inclusion and participation of the masses. A new world is being born out of reinvention of the financial systems built on unprecedented technological advances. And the Company is already in play to reap the benefits for its investors.
(CEO: Mr. Naveen Prasad)
All of us who had welcomed 2020 with lots of hope and spirit were caught off-guarded by the novel Corona Virus – 2019 (COVID19). While most viruses are responsible for common cold and flu, the COVID19 declared as a pandemic by the World Health Organization (WHO) has all set to disrupt both health and global wealth!
The global equity indices of MSCI World, S&P 500, and STOXX Europe 600 have been wavering within short period time in a matter of weeks with a record high on February 19, 2020 to a low on March 18, 2020 and rising back again in June-2020.
The impact on M&A landscape is no exception with deals values down by more than 30% compared to previous years which has brought a definite strategy switch for addressing distressed assets in the wake of COVID -19. The last quarter inscribed a whopping $2.1 trillion distress debt globally, especially in Asia with India and China leading the tally. Even though there is a drastic surge in corporate debt distress funds in the world, the fund managers; especially in distress debt is on high exigency.
As in the past, M&A landscape has been time tested and endured the past economic crisis such as Lehman Brothers collapse in 2008, dot-com bubble in 2000-2002 and the Great Recession of 2009. Ironically, the anticipated global M&A volume changes in 2020 is up by +2% globally providing a positive outlook. M&A Advisory Firms in Germany
Many of the investment firm whose diversified funds are battered by falling oil prices and economic fall-out because of the pandemic. We can’t set aside the quadrupled debt of US economy without any segment discrimination. The investment in segments like financial services, oil, gas and consumable fuels, hotels, restaurants and leisure industries are wiped out during this period. So the M&A has to be structured based on the turnaround time and special situations. Since all the segments are sabotaged because of non-revenue and COVID being the common cause, M&A pose an opportunity and threat in the same platter.
The exit parameters have to be reworked based on an emergency situation. The distressed debt trading and control will be challenging to the policy makers. The rising cost and hiccups in logistics will definitely add on to the plight. But the opportunity is big and the landscape of operations have widened. Rather than pumping investment to distress funds for profit or stakes, a winner should evaluate and explore the revenue generation option at a rock-bottom cost with the help of naive technology based business operations.
Winston Churchill quoted “There is nothing wrong in change … if it is in the right direction.” So the forward-thinking leader’s positive mindset could set the stage on how to play effectively. Effective and efficient use of digital technologies infusing them with traditional M&A process will ensure smoother deal cycles starting from screening till post-deal activities. Due to COVID19 remote working trend, the use of new collaborative tools, data-driven approach, AI enhanced search and using analytics will yield better results
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Credgenics, India’s first of its kind debt resolution start-up has received INR 27 crore (US$3.5 Million) in a pre-Series A round led by Accel Partners, DMI Alternatives fund with participation from existing investors Titan Capital besides marquee angel investors like Kunal Shah (Founder, CRED), Dilip Khandelwal (MD & Global CIO, Deutsche Bank), Sumit Maniyar (Founder, Rupeek), Ramakanth Sharma (Co-founder, Livspace), Gaurav Agarwal (Co-founder, 1mg), Vivek (Founder, Bounce), Akhil Paul (MD, Caparo Group), Nitin Gupta (ex-Founder, PayU) and Karthik (Ubiquity Capital). Founded in 2018 by IIT Delhi Alumni, Rishabh Goel, Anand Agrawal and Mayank Khera, Credgenics is a SaaS based collections and legal automation platform aiming to solve India’s $200 billion+ bad debt problem. It works with major private sector banks – ICICI Bank, IDFC First, Axis Bank and Yes Bank besides 32+ NBFCs like Loantap, DMI Finance, Clix Capital, Udaan, Moneytap, Moneyview etc.
Commenting on the funding, Rishabh Goel, CEO & Co-Founder, Credgenics, said, “With default rates touching 60% in India due to Covid-19 pandemic, lenders are looking to contain/manage collections effectively. We are the only ones with a full stack technology infrastructure to digitize their collection and legal process besides being equipped to handle volume collections while improving overall efficiency. Funds will be utilised to enhance product development, strengthen R&D and scale the operations across India.” “We accelerate the debt recovery process through use of existing default data while creating new ways of communicating with defaulters and tracking the communication,” added Anand Agrawal, Co-Founder & CTO, Credgenics.
In his comments, Pratik Agrawal, Vice-president, Accel Partners, said, “Debt Management processes for lending institutions has traditionally remained a largely manual and archaic process with limited disruption through digitization. With a team that is uniquely positioned to execute this, Credgenics has established itself as a thought leader in the space. We’re excited to join Credgenics in its journey to create an “automation first, cost effective and one stop solution for minimizing bad debt” with an ultimate goal to improve financial inclusion for the country”
According to Bipin Shah, Partner, Titan Capital, ” Credgenics is definitely on a mission to solve Bharat’s growing bad loans collections gigantic problem which did let us close the seed round last year into company within a week. We couldn’t have got better team than this uniquely positioned to solve this. This funding round is another validation of their unique value proposition and its immense potential.”
About Credgenics: Founded in 2018 by Rishabh Goel, Anand Agrawal and Mayank Khera, Credgenics is India’s first debt resolution platform that uses technology, automation intelligence and optimal legal routes to expedite debt resolution. It boasts of a huge network of freelance dispute resolution specialists who independently assist NBFCs, Banks, ARCs & fintech players, settle disputes amicably with their borrowers. It currently manages over INR 150 crore of debt on its platform and has helped it’s clients improve their resolution rates by 22% besides significant reduction in overall resolution time. Credgenics aims to ultimately foster financial inclusion in India through expeditious resolution of unprecedented volumes of stressed assets in larger finance/fintech space.
For editorial queries contact: Stuti Sehgal/ email@example.com/8744080106.
As the Philippines is currently battling the after-effects of the destructive typhoons Rolly and Ulysses Airfunding, a global donation-based crowdfunding platform recently launched its company-sponsored charity drive named Airfunding Cares, to help people affected by natural calamities and the global pandemic crisis. A recent relief effort was sent to Cagsawa, Daraga, Albay in the Philippines to help families hard hit by typhoon Rolly. Airfunding sent “Care Packs” to more than 100 families and distributed bread among young children in the streets leading to the area.
“These typhoons are devastatingly destructive, and our hearts goes out to millions of affected. Although our effort may not be enough, we are trying our best effort to bring in more help through donations from our millions of supporters across the globe”
Airfunding Cares is committed to raising $ 10,000 to help more people in the Philippines especially the Cagayan and Tuguegarao province who suffered the most because of the flooding brought about by typhoon Ulysses.
In addition to the company campaign, the site has also received more than 100 new projects for the same cause. Filipinos from all over the world created fundraising project on www.airfunding.net Airfunding is a fundraising platform that specializes in small-scale projects made by individuals, groups, or local NGOs, for a personal cause, community initiative, an event, or just anything that needs funding. It’s a keep-it-all crowdfunding platform, so project owners keep the entire amount collected even if the target hasn’t been met.
Why keep-it-all platform? ” We believe that even a small amount of money would be a real help to project owners. That’s why we decided to make a keep-it-all platform. Our business model relies on tips from the supporter. It’s essentially just a commission but, when you support a project you can choose to tip a percentage of the amount.” – says Ryosuke Abe, CEO of Co-Founder of Kiheitai Inc., the parent group for Airfunding.
There is help beyond borders and barriers, Airfunding has over 10,000,000 supporters around the world and can be accessed in 200+ countries. Airfunding is free to use, anyone can register and start creating projects in less than 5 minutes. Airfunding hopes to attract more Filipinos to create more projects, whether for personal, for the community or for any cause (so that the world will see and send their support).
Visit their website at www.airfunding.net
Organization: Airfunding by Kiheitai Inc.
Address: Matsura bldg. 5F 1-9-6 Shiba Minato-ku Tokyo 105-0014 Japan
Phone: +81 03-6277-8045