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CINC Systems Receives Growth Investment from Spectrum Equity and Announces New Senior Executives
CINC Systems, the largest provider of SaaS solutions for the community association industry, announced that it has received a growth investment from Spectrum Equity, bolstered its executive team and launched an investment fund to support its customers’ growth.
The investment from Spectrum Equity, a leading growth equity firm investing in internet-enabled software and information services companies, will support CINC Systems’ product innovation and expand its sales and marketing efforts. Spectrum is CINC’s first institutional investor.
CINC Systems serves approximately 16,000 of the estimated 350,000 HOAs in the U.S. CINC-served communities total nearly 2 million homes. About 25% of the American population lives in a community association and more than 60% of new housing built for sale is within associations. CINC Systems has clients in 26 states and, through its 18-bank partner relationships, in more than 100 partner banking branch locations.
Ryan Davis, a seasoned technology executive with experience delivering growth solutions to small- and medium-sized businesses, joins CINC Systems as Chief Executive Officer. Ryan joins from RentPath, where he was Chief Product and Marketing Officer and oversaw the multifamily real estate marketplace’s expansion into multiple new business lines. He’s a former Weather Channel executive and McKinsey & Co. consultant.
“CINC has grown tremendously in recent years because of its technology, institutional knowledge and customer service,” Davis said. “We will continue the company’s rapid growth, while strengthening our banking partnerships and telling our story to the many property management companies who don’t yet know how CINC can help them grow and position them for long-term success.”
Shea Dittrich, most recently of Nexus and the former Vice President of Marketing for CoStar Group, joins CINC System as Senior Vice President of Sales and Marketing. Former CEO Robert McCullar will remain on the executive team as Chief Operating Officer.
“No other solution closes the gap between banking and accounting like CINC. The resulting efficiency and scalability, when combined with our management platform, are transformational for our customers,” said CINC Systems Founder and Chairman Bill Blanton. “We’re excited to partner with Spectrum Equity and benefit from its deep expertise in growing SaaS businesses, as well as domain knowledge of both fintech and real estate software. With strengthened resources and an expanded leadership team, we are better positioned to drive future growth and continued innovation.”
CINC Systems has designed and developed products from the ground up, specifically to serve the needs of association management companies. This approach combines association accounting and management solutions into a single software program that provides CINC clients with association management systems, cloud accounting, and integrated banking options—all in one place. The intuitive product suite has resulted in a loyal client base with strong growth and customer retention.
“Ultimately, clients serve as the foundation for all of CINC Systems’ business initiatives,” said Mike Farrell, Managing Director at Spectrum Equity. “The company’s earliest clients provided it with the feedback and collaboration to develop software that solved their specific challenges. Since then, CINC Systems’ client base has continued to be a critical source of new product ideas. We are thrilled to support the team as the market opportunity for CINC and its customers only continues to grow.”
As another mechanism to enable the growth of community association management companies seeking to expand, Blanton announced this week the public launch of a sister company, CINC Capital. The fund, created by Blanton, includes a portion of the proceeds from Spectrum Equity’s investment in CINC Systems, provides capital and strategic counsel for community association management companies to acquire other small- to medium-sized community association management companies across the United States.
CINC Capital has a unique blend of community association and banking expertise. It expects to fund 15 to 20 transactions a year and has already completed several before its public unveiling this week.
In conjunction with Spectrum Equity’s investment, Mike Farrell of Spectrum Equity has joined CINC Systems’ board of directors. Also joining are Robert Petrie and Chris Trower. Petrie is the CEO of Origami Risk and an industry veteran with more than 20 years of operating experience. Trower is the founder of Electric Law and has more than 40 years of experience as counsel to companies and as an operator and board member.
Financial terms of the transaction were not disclosed.
SOURCE CINC Systems
Fintech PR
CCTV+: From Silk Road Gateway to Global Innovation Hub: Xi’an Advances Industrial Upgrades and International Cooperation
XI’AN, China, Nov. 2, 2024 /PRNewswire/ — Xi’an, an ancient capital and starting point of the Silk Road, is growing rapidly into a cosmopolis of technological innovation, industrial transformation and international cooperation. The city is becoming a global hub for innovation and economic cooperation and a destination that converges historical heritage with modern creativity. By leveraging initiatives in New Quality Productivity, the Internet of Things, high-tech industries, culture, and international business services, Xi’an showcases its dynamic blend of past and future.
Industrial Development: Technology and Innovation Drive Emerging Industry Clusters
Aiming to establish itself as an international hub with rapid scientific and technological innovation, Xi’an is now building a comprehensive national science center and a center for science and technology innovation.
The Silk Road Technology City is now home to more than 4,000 companies and has fostered two major industry clusters, in optoelectronics and automobiles, each worth tens of billions. Leading industry giants like BYD and Samsung have established themselves here, taking advantage of Xi’an’s robust policy support for innovation-led growth. LONGi, a world leader in solar technology, is actively building Shaanxi’s 100-billion-grade silicon-based solar PV industry innovation cluster, driving industry-wide growth through R&D and supply chain expansion; while BYD’s comprehensive new energy vehicle industry chain has also positioned Xi’an as a key base for new energy technology and electric vehicles.
Belt and Road Hub: Connecting Development Across Borders
As a central hub along the Belt and Road, Xi’an recently hosted the Belt and Road Forum for International Think Tank Cooperation, fostering collaboration and advancing connected, networked development through the trans-Eurasian transport corridor. With growing trade opportunities, Xi’an is also expanding its reach into international markets, particularly in Central Asia, exporting specialty agricultural products like kiwi fruit.
Through conventions and conferences, Xi’an has demonstrated its significant potential for international economic cooperation, establishing stronger ties in Central Asia and Belt and Road countries.
New Quality Productivity: Smart Technologies and Advanced Manufacturing Fuel Growth
New Quality Productivity is driving Xi’an’s high-quality development leveraging smart technologies and intelligent manufacturing. Local enterprises like SUNNYIT are promoting innovative applications of IoT technologies to tackle industry bottlenecks, Xi’an Chinastar M&C Limited is supporting real-time urban management with products including smart manhole covers and parking monitoring systems to support urban safety and municipal services.
Industrial robots and intelligent manufacturing are also accelerating Xi’an’s industry transformation. Xi’an Aerospace Automation’s 4,000-kilogram robot, designed for warehouse logistics, highlights the city’s advancements in high-load, high-precision applications.
High-Quality Development: Digital Technology Empowers Xi’an’s Smart City Ambitions
Xi’an is progressing in smart city development, enabling companies to utilize big data and AI for comprehensive traffic analysis, enhancing traffic management efficiency, and establishing a “transportation+” multi-scenario service system to improve travel experiences.
Xi’an looks to cooperate with more companies and research institutions in fields of environmental protection, water-related affairs, education, and urban management with the goal of promoting technological breakthroughs in areas such as intelligent video analysis and large-scale AI models, empowering city management and services through digital technologies and support the development and innovation of companies in the city.
Opening Up to the World: Xi’an Shares Its Story and Strengthens Business Environment
The newly established Xi’an International Communication Center shares Xi’an’s story in multiple languages, promoting Chinese culture and positioning Xi’an as a major platform for cultural exchange. Additionally, a legal service center in Xi’an Chanba International Port now offers comprehensive legal support, fostering a fair and just international business environment.
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View original content:https://www.prnewswire.co.uk/news-releases/cctv-from-silk-road-gateway-to-global-innovation-hub-xian-advances-industrial-upgrades-and-international-cooperation-302294686.html
DUBAI, UAE, Nov. 2, 2024 /PRNewswire/ — KuCoin, a global leader in the cryptocurrency exchange arena, is thrilled to announce its active participation at this year’s premier TON community event, The Gateway. The annual conference, renowned for uniting key players in the TON ecosystem, aligns perfectly with KuCoin’s mission to democratize cryptocurrency and expand its reach across the globe.
Representing KuCoin at the event was Alicia, who took part in the insightful panel discussion on “Perspective Sectors on TON for VCs and Exchanges.” Her presence underscored the vibrant potential of the venture capital market within emerging blockchain technologies, particularly the TON ecosystem. Alicia’s discussion highlighted how TON’s seamless integration with Telegram presents unique opportunities for innovation and user engagement, resonating with KuCoin’s strategic initiatives to bridge social connectivity with financial transactions.
“TON’s integration with Telegram not only simplifies the user experience but also amplifies it, making it a gateway for millions to engage with Web3 technologies,” Alicia stated. She emphasized KuCoin’s commitment to leveraging this synergy to enhance secure, user-friendly trading experiences, thus furthering its mission of putting crypto in every pocket.
KuCoin’s participation in The Gateway event reinforces its dedication to fostering a secure, robust, and accessible trading environment, paving the way for a new era of crypto and blockchain integration.
About KuCoin
Launched in September 2017, KuCoin is a leading cryptocurrency exchange with its operational headquarters in Seychelles. As a user-oriented platform with a focus on inclusiveness and community engagement. It offers over 800 digital assets across Spot trading, Margin trading, P2P Fiat trading, Futures trading, and Staking to its 36 million users in more than 200 countries and regions. KuCoin ranks as one of the top 6 crypto exchanges. KuCoin was acclaimed as “One of the Best Crypto Apps & Exchanges of June 2024” by Forbes Advisor and has been included as one of the top 50 companies in the “2024 Hurun Global Unicorn List”. Learn more at https://www.kucoin.com/.
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View original content:https://www.prnewswire.co.uk/news-releases/kucoin-shines-at-the-gateway-event-advocating-for-blockchain-innovation-through-ton-302294685.html
Fintech PR
UBS Asset Management launches its first tokenised Money Market Fund, available through DigiFT
SINGAPORE, Nov. 2, 2024 /PRNewswire/ — UBS Asset Management, launches its first tokenized investment fund “uMINT”, made available through authorized distribution partner, DigiFT.
With DigiFT, investors can subscribe to uMINT using their preferred custody wallet solution, gaining access to real-time redemption capabilities via DigiFT’s platform. uMINT, a Money Market investment underpinned by high quality money market instruments based on a conservative, risk-managed framework, is built on Ethereum distributed ledger technology and issued under UBS Tokenize, UBS’s in-house tokenization service, a full service offering for digital asset services, that seeks to open the door to the world of decentralized finance to a broader range of market participants.
“We’re honoured to be an authorized distribution partner for UBS Asset Management in launching their first tokenized money market fund. This is a significant milestone in the world of Web3, and a testament of our ability to transform capital markets. Not only does this partnership bridge traditional finance with digital and decentralized technologies, it also demonstrates our ability to deliver next-generation investment solutions on an open network – for a new generation of global investors,” said Henry Zhang, Founder & Chief Executive Officer of DigiFT.
As part of the partnership, DigiFT will provide infrastructure for managing and monitoring on-chain distribution activities and transactions for the new tokenized money market fund. Enabled by blockchain technology, DigiFT’s best-in-class, open infrastructure ensures all transactions are stored and recorded on an immutable ledger, providing real-time operational and audit visibility. Beyond streamlining administrative processes, DigiFT is able to leverage smart contracts and facilitate automated compliance and operational efficiencies, further allowing investors to invest and explore new financial Web3 use cases.
DigiFT is the first exchange deploying smart contract methods and processes, with an automatic market-making mechanism, to be recognized as a Recognised Market Operator (RMO) and awarded the Capital Markets Services (CMS) license by the Monetary Authority of Singapore.
Disclaimer: This article is not an advertisement making an offer or calling attention to an offer or intended offer
About DigiFT
DigiFT is the first exchange for on-chain real-world assets to be licensed by the Monetary Authority of Singapore. Find out more www.digift.sg
For media enquiries, please contact [email protected]
View original content:https://www.prnewswire.co.uk/news-releases/ubs-asset-management-launches-its-first-tokenised-money-market-fund-available-through-digift-302294683.html
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