Fintech PR

Social.mom is looking to break into the U.S. and French markets

Published

5 years ago

May 6, 2019

Newsfile

Reading Time: 3 minutes

Canada Economic Development for Quebec Regions (CED)

Social.mom, a social network for mothers that aims to relieve the isolation of motherhood, will be able to pursue its growth with the help of a total of $350,000 in contributions from CED. The support will allow the business to develop new functionalities and a marketing strategy.

The funding was announced today by the Honourable David Lametti, Minister of Justice and Attorney General of Canada, together with Mr Pierre Breton, Member of Parliament for Shefford. Specifically, Social.mom will use this Government of Canada assistance to hire specialized resources to set up new artificial-intelligence–based functionalities on its platform; develop and market coaching capsules through an optional pay-per-use functionality; and enhance its visibility in the U.S and France.

It was in 2016 that Audrey Poulin, the initiator of the Social.mom project (9336-0428 Québec Inc.) and now a mother of three children, along with her two partners, set up an application that allows users to connect with a network of mothers that live near them, in an atmosphere of trust. Today, the platform counts over 150,000 users in Canada and the U.S.

The Government of Canada is committed to supporting innovative Canadian businesses. A driving force of the economy, innovation is the key to success because it generates growth that benefits both businesses and communities. The Government of Canada is also working to foster the economic empowerment of women. It was with this in mind that it introduced the Women Entrepreneurship Strategy, which helps women start up and grow their businesses.

Quotes

“Our government believes that its assistance for women-owned businesses will help these businesses improve their market access, be competitive and succeed on the international stage. This is why we launched the Women Entrepreneurship Strategy, which aims to double the number of women-owned businesses by increasing their access to sources of funding, networks and guidance. Such investments support women in Quebec, families and our communities across the country.”

The Honourable David Lametti, MP for Lasalle–Émard–Verdun, Minister of Justice and Attorney General of Canada

“Business leaders and women entrepreneurs in Shefford make a tremendous contribution, day in day out, to the economy of our region. This funding will help a local business become even more successful by allowing it to grow and to expand its current market. Direct investment in women-led businesses is an informed strategic decision of which I am extremely proud.”

Pierre Breton, MP for Shefford

“Our government is giving Canadians the means to become more competitive and thrive in the global economy. The funding announced today for Social.com is consistent with Canada’s competitive advantages. With its innovative project and its highly promising marketing activities, Social.mom will boost economic growth and will also help create good jobs for middle-class Canadians.”

The Honourable Navdeep Bains, Minister responsible for CED

“CED was a key element in our latest round of funding. The fact that we receive support from the Government of Canadahas already opened a number of doors for us. Furthermore, without this program that focuses on women entrepreneurship, we would not have been able to create the content that we will soon be rolling out to assist hundreds of thousands of moms, as well as their children, both nearby and further afield. A huge thank-you to CED for recognizing the technological innovation and market relevance of our product.”

Audrey Poulin, Co-Founder and President of Social.mom

Quick facts

Today’s announcement was made on behalf of the Honourable Navdeep Bains, Minister responsible for the Innovation, Science and Economic Development portfolio, which is made up of 17 federal departments and agencies, including CED and the other five regional development agencies.
A $250,000 repayable contribution was awarded under CED’s Regional Economic Growth through Innovation (REGI) program. This program targets entrepreneurs who leverage innovation to grow their businesses and make them more competitive, and regional economic stakeholders who help create an entrepreneurial environment conducive to innovation and inclusive growth in all regions.
A $100,000 non-repayable contribution was provided through the Women Entrepreneurship Fund, part of the Women Entrepreneurship Strategy (WES). This Strategy, which comes with a budget of almost $2 billion, will help women have easier access to the financing, talent, networks and expertise they require. The WES will allow the government to reach its goal of doubling the number of majority women-owned businesses by 2025.
To find out more about CED and its priorities, see the 2019–2020 Departmental Plan or visit www.dec-ced.gc.ca.

Stay connected
Follow CED on Twitter, LinkedIn and YouTube
Follow Social.mom on Twitter, Facebook and Instagram

SOURCE Canada Economic Development for Quebec Regions

Fintech PR

Shareholders request EGM to appoint new Board of Directors of B2 Impact ASA

Published

37 mins ago

November 28, 2023

CISION (PR Newswire)

OSLO, Norway, Nov. 28, 2023 /PRNewswire/ — Shareholders representing approximately 24% of the shares and votes of B2 Impact ASA request an Extraordinary Shareholders Meeting to elect new Board of Directors.

A group of shareholders in B2 Impact ASA (the “Company”) including the founding partner Jon Harald Nordbrekken and associated companies; Valset Invest AS and F2Kapital AS together with Gulen Invest AS (the “Shareholders”) have today, in accordance with section 5-7 (2) of the Norwegian Public Limited Liability Companies Act, jointly requested that the board of directors of the Company convenes an Extraordinary General Meeting in the Company to resolve on the election of new members of the Board until the next annual general meeting in 2024. Prioritet Group AB, the largest shareholder in the Company also supports the request for appointment of a new board. Jointly, the request is put forward by shareholders representing approximately 24% of the Company’s shares.

Following the election, the new board is proposed to be composed of four new Directors, including Anders Engdahl as Chairman, Jon Harald Nordbrekken as Vice Chairman, Ellen Hanetho as Director, Nils Wiberg as Director and re-election of Jessica Sparrfeldt.

“I am very pleased that we are able to propose such an experienced board with over hundred years of combined industry experience. The debt collection industry is facing a number of critical challenges posed by rising interest rates, inflation as well as rapid technological change. At the same time, it also presents a number of attractive opportunities as many competitors struggle to adapt to this new environment. For B2 Impact ASA to capitalize on these opportunities we believe it is the right time to appoint new leadership and for the owners to take a more active role in the transformation of the business. To support this change, I will assume an active role on the Board of Directors to help realize the full potential of the business,” says Jon Harald Nordbrekken, founding partner and shareholder of B2 Impact ASA.

The Shareholders are of the view that the Company needs to reconsider its strategy and focus on the following core areas:

Reduce Cost and Complexity: Structurally reduce group common and local overhead costs through simplified decentralized governance and removing all non-value added activities.
Enhance Focus: Reduce geographic footprint, build volume and leverage in-market scale. Going forward, the company should focus on collection of unsecured consumer receivables.
Reduce Indebtedness: Adopt capital light strategy including a partnership with an international investment fund to invest in portfolios outside the Company’s balance sheet, release capital, reduce indebtedness and interest expenses and drive servicing fees.
Invest in Technology: Accelerate digital adoption by investing into modern collection system technology that could substantially lower cost-to-collect through automated workflows and smarter processes.
Deliver Profitable Growth: Create profitable organic servicing revenue growth through co-operation with portfolio investors and banks in selected markets as well as acquisitions of businesses that allow the Company to leverage economies of scale.

“I am honoured and excited to be proposed as new Chairman of B2 Impact ASA. I expect to work closely with the new Board of Directors and management to lead the re-orientation of the Company. I believe that if adopting a capital light strategy, the Company is well positioned to take advantage of the emerging opportunities and supportive NPL cycle that can deliver substantial value to shareholders over next few years,” says Anders Engdahl, proposed Chairman of the Board.

In addition, it has been proposed that the following members shall be elected to the Nomination Committee until the annual general meeting in 2024: Frode Foss-Skiftesvik as Chairman, Kjetil Andreas Garstad as Member and Niklas Wiberg as Member.

Background on the proposed board members:

Anders Engdahl, Chairman

Anders Engdahl is a seasoned NPL investment and servicing executive with over 25 years financial services experience. Until Aug 2022, Anders was the CEO of Intrum AB, Europe’s largest debt collector where he spent in total eight years in several roles including CEO, CFO and CIO. Prior to joining Intrum, Anders was Managing Director at Morgan Stanley’s Financial Institutions Group. Anders started his career with Goldman Sachs in London in 1997. He graduated with an M.Sc. In Economics and Managerial Finance from the Stockholm School of Economics.

Jon Harald Nordbrekken, Deputy chairman and board member

Jon Harald Nordbrekken is a founder and the third largest shareholder in B2 Impact ASA. After four years as CEO of Intrum Justitia Norway, Nordbrekken founded Aktiv Kapital in 1991, where he stayed on as CEO until 1999 and as Chair from 1999 to 2004. In 2005, he founded B2Holding AS, now B2 Impact ASA, parent to both Gothia Financial Group and Bank2. Gothia was sold to Herkules in 2008 and Nordbrekken stepped down as Chair of the Board of Bank2 in 2010, before establishing the “new” B2Holding the following year. Nordbrekken was the Chair of the Board of B2 Impact ASA until 2020.

Ellen Hanetho, Board member

Ellen Merete Hanetho has 20 years of experience from investment banking and private equity as a finance and business development executive in corporations such as Frigaard Invest, Credo Partners, Goldman Sachs Investment Banking Division in London and the Brussels Stock Exchange and Citibank in Brussels. She is founder and chairperson of Cercis, a cleantech investment company established in 2020. Ellen holds a BSBA from Boston University, US and an MBA from Solvay University, Belgium in addition to executive training from INSEAD, France and Harvard Business School, US.

Nils Wiberg, Board member

Nils Wiberg is the founder and CEO of Prioritet Group AB. Nils has a very long and solid career within the financial services industry. Nils joined Nordbanken 1986 (currently Nordea) and became CEO of Nordbanken Inkasso focused on debt collection and debt restructuring within the private and corporate sector. Nils was with Nordbanken until 1997. In 1981 Nils founded Prioritet Group which focuses on financial services and asset management. Prioritet Group is the largest shareholder of B2 Impact ASA and wholly owned by Nils Wiberg.

View original content:https://www.prnewswire.co.uk/news-releases/shareholders-request-egm-to-appoint-new-board-of-directors-of-b2-impact-asa-301998953.html

Fintech PR

Runergy Ranked as a BloombergNEF Tier 1 PV Module Manufacturer

Published

37 mins ago

November 28, 2023

CISION (PR Newswire)

runergy-ranked-as-a-bloombergnef-tier-1-pv-module-manufacturer

SHANGHAI, Nov. 28, 2023 /PRNewswire/ — Runergy has achieved a significant milestone by being included in the latest BloombergNEF Tier 1 PV Module Manufacturers list for Q4 of 2023. This recognition is a testament to the exceptional quality and reliability of Runergy’s products, its outstanding performance in global projects, and its strong bankability.

BloombergNEF (BNEF) is renowned as one of the most reputable industry research institutions in the global new energy sector. BNEF has developed a tiering system for PV module products based on bankability, with the goal of creating transparent differentiation between the hundreds of manufacturers of solar modules on the market. To qualify as a Tier 1 PV module manufacturer, companies must demonstrate the production of self-owned brand PV modules for six different projects, financed by six different commercial banks.

Runergy’s high-efficiency N-type double-glass module products are built on the latest generation of ultra-high efficient N-type cell technology developed by the Photovoltaic R&D Institute established by Runergy. These modules offer several advantages, including lower LCOE, better BOS cost, higher power efficiency, and are widely utilized in large-scale ground-mounted projects and tracking systems, C&I projects, and residential roofs. Runergy is committed to meeting the diverse needs of global customers and delivering higher returns for them. Since entering the PV module business in 2022, Runergy’s module products have been exported to numerous countries and regions worldwide, with increasing shipments. The company has established extensive partnerships in key markets such as the United States, South America, Europe, and Southeast Asia, and has implemented PV power projects in various locations. One of Runergy’s flagship products is the N-type Double Glass 144-Piece Module, which has received recognition as the RETC “Overall Highest Achiever”, demonstrating exceptional performance in rigorous tests of quality, performance, and reliability.

Currently, Runergy is strategically expanding its vertical industrial chain, covering polysilicon, cells, modules, and power systems. The company has established independent production sites in multiple locations worldwide. Runergy implements stringent management practices in intelligent manufacturing, quality control, and after-sales support to ensure the delivery of efficient and high-quality products and services to customers, with the commitment of becoming the most reliable global solar solution partner. In response to the global energy transformation and evolving market trends, Runergy will accelerate the development of its entire industry chain, focus on module business growth, and establish a stable and trustworthy module production supplier brand.

Photo – https://mma.prnewswire.com/media/2286967/image_5027829_29292431.jpg

View original content:https://www.prnewswire.co.uk/news-releases/runergy-ranked-as-a-bloombergnef-tier-1-pv-module-manufacturer-301998949.html

Fintech PR

Bybit Celebrates 5 Years of Disrupting the Game with 20 Million Users Milestone

Published

37 mins ago

November 28, 2023

CISION (PR Newswire)

bybit-celebrates-5-years-of-disrupting-the-game-with-20-million-users-milestone

DUBAI, UAE, Nov. 28, 2023 /PRNewswire/ — B ybit, a top-three crypto exchange, is pleased to announce a new milestone in its growth journey: surpassing 20 million registered users. This landmark underscores Bybit’s position at the forefront of the crypto industry, celebrating its 5th anniversary this December.

Since its inception, Bybit has offered innovative trading solutions, user-friendly platforms, and 24/7 customer service in multiple languages. The achievement of over 20 million registered users is a testament to the trust and confidence the global trading community places in Bybit.

“Bybit has proved itself as a safe, highly effective crypto hub,” said Ben Zhou, co-founder and CEO. “Reaching 20 million registered users is not just a number for us; it represents the faith and enthusiasm of a community that believes in the potential of crypto and trusts Bybit as their preferred platform.”

Bybit attributes its rapid growth to its constant innovation in the crypto space, including introducing AI-powered trading bots, a sophisticated options market, and a thriving copy trading community. Prudent risk management and enhanced AML compliance have led Bybit to gain licenses in the UAE, Kazakhstan, and Cyprus.

“We are more than just a trading platform; we are the Crypto Ark and a gateway to Web3: the next generation of the internet,” added Ben Zhou. “Our commitment to our users remains stronger than ever, and we look forward to introducing more innovative features and services in the near future.”

As Bybit continues to expand its offerings and reach new heights, the company is poised to play a pivotal role in shaping the future of the crypto industry.

#Bybit #TheCryptoArk #High5Bybit

About Bybit

Bybit is a top-three cryptocurrency exchange by volume with 20 million users established in 2018. It offers a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

For media inquiries, please contact: [email protected]

For more information please visit: https://www.bybit.com

For updates, please follow: Bybit’s Communities and Social Media