Fintech PR
Acin secures $12 million in Series A funding to spearhead operational and non-financial risk revolution
Acin, the data standards firm that is digitising operational and non-financial risk, today announces it has secured $12 million in Series A funding.
The funding round was led by leading European SaaS investor Notion Capital, which will work closely with Acin to drive rapid growth, and supported by Fitch Ventures, the investment arm of the US-based Fitch Group, a global leader in credit ratings and research. Other new and existing investors include Cris Conde (former President & CEO of SunGard), Christopher Carter (Chairman of Artorius Wealth Management and former Vice Chairman – Institutional Securities at Morgan Stanley) and Carlos Gonzales-Cadenas (COO at GoCardless and ex SkyScanner CPO). Additional, strategic investors will join this round in a second closing.
The funding will enable Acin to rapidly accelerate its proposition, by continuing to enhance its cloud-based Terminal with additional inventories of risks and controls, software extensions and integrated benchmarking. This will provide financial institutions with a complete front-to-back-office solution to assess and manage their operational and non-financial risks. With extensive applications beyond financial services, Acin will expand its solution into further sectors over time.
Acin’s award-winning system was created for, and in collaboration with, the world’s largest financial institutions. It revolutionises the way these organisations manage their operational and non-financial risk and controls through a standardised, industry-wide inventory, and a first-of-its-kind Network that facilitates collaboration between members, currently 14 tier-one banks.
The system allows member organisations to fully digitise and quantify their operational and non-financial risks for the first time ever and enables them to manage these risks using ground-breaking data science, as well as comparing with, and learning from, peers. The result is improved understanding and management of their operational and non-financial risk position, which ultimately makes their business safer and more efficient. This could have significant balance sheet benefits by reducing the operational risk capital that they are required to hold in the future.
Paul Ford, CEO and Founder of Acin, commented: “The need to digitise operational and non-financial risks is now more important than ever for the financial services sector, with the Covid-19 crisis shedding fresh light on the need for data to manage existing and emerging risks. We are seeing a collective desire from the industry for a solution built on collaboration and sharing of information and Acin’s approach is transformative in its ability to deliver this. This funding will enable us to accelerate our growth to meet the demand and needs of our clients.
“Notion is the perfect partner for Acin, as they share our belief in the market opportunity and in the value of our solution. They have a wealth of experience and connections, and we’re extremely excited about working with them to realise our potential.” Ford continued: “To have Fitch invest in Acin is a testament to the importance of the opportunity we are addressing and a commitment to seeing it through – we are delighted to have their backing.”
Stephen Chandler, Managing Partner at Notion, said: “Numerous billion-dollar tech companies have been created in Market and Credit Risk but Operational Risk remains under-served, with static data and antiquated processes and systems. As such, Acin’s ground-breaking platform is addressing one of the largest ‘white space’ opportunities in the overall risk landscape and their client list is a testament to the strength of their offering. We at Notion are delighted to be supporting them on their journey to define and lead this category.”
Shea Wallon, Managing Director, Fitch Ventures underlined their interest in Operational Risk by remarking: “We have been tracking Acin and talking to the team over the last 18 months – we have been impressed by both their client engagement and the dedicated focus they bring to the questions they are answering as they build their operating system. We are excited that Acin is the first European investment for Fitch Ventures.”
Acin was advised by Zelig, an independent investment bank providing M&A and fundraising advice to entrepreneurs, corporates and investors operating in the FinTech sector globally. It was also supported by international law firm Withers, through its specialist venture capital and technology team at Withers tech, which advises founders, companies and investors across its offices in Europe, the US and APAC.
Conference Call to Discuss Results Scheduled for 10:00 a.m. ET Today
NEW YORK, Nov. 5, 2024 /PRNewswire/ — Newmark Group, Inc. (Nasdaq: NMRK) (“Newmark” or “the Company”), a leading commercial real estate advisor and service provider to large institutional investors, global corporations, and other owners and occupiers, today, reported its financial results for the three and nine months ended September 30, 2024, and declared its quarterly dividend.
A complete and full-text financial results press release, including information about today’s financial results conference call and Newmark’s dividend declaration, is accessible in the “Media” section at https://nmrk.com. It is also available directly at any of the following web pages:
https://ir.nmrk.com (PDF version of the full press release, PDF of a quarterly results investor presentation, and supplemental Excel financial tables)
https://ir.nmrk.com/investors/news-releases/financial-and-corporate-releases (Links to the PDF version of the full press release, PDF of a quarterly results investor presentation, and to Excel financial tables)
https://nmrk.com/media (PDF version of the full release only)
(Note: If clicking on the above links does not open a new web page, you may need to cut and paste the above URLs into your browser’s address bar.)
Today’s conference call is expected to contain forward-looking statements with respect to the Company’s financial outlook.
ABOUT NEWMARK
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended September 30, 2024, Newmark generated revenues of over $2.6 billion. As of that same date, Newmark’s company-owned offices, together with its business partners, operated from nearly 170 offices with more than 7,800 professionals around the world. To learn more, visit nmrk.com or follow @newmark.
DISCUSSION OF FORWARD-LOOKING STATEMENTS ABOUT NEWMARK
Statements in this document regarding Newmark that are not historical facts are “forward-looking statements” that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the Company’s business, results, financial position, liquidity, and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark’s Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q, or Form 8-K.
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Fintech PR
Sinochem Holdings secures over $13 billion in procurement at 7th CIIE, enhancing global industrial collaboration
SHANGHAI, Nov. 5, 2024 /PRNewswire/ — The 7th China International Import Expo (CIIE) opened at the National Exhibition and Convention Center in Shanghai, China on November 5, 2024. Sinochem Holdings, one of the world’s leading chemical conglomerates, participated in the event for the seventh consecutive year. Leveraging its international operations, the company organized five overseas subsidiaries for the event to deepen global industrial cooperation and share opportunities in the Chinese market.
During a dedicated signing ceremony, Sinochem Holdings secured procurement agreements with over 20 companies from more than 10 countries and regions, including Saudi Arabia, Kuwait, Iraq, Japan, France, Malaysia, the US, Germany, India, Thailand, and China’s Taiwan region. These agreements spanned various sectors, such as crude oil, petroleum products, high-quality chemicals, food, agricultural products, high-end intelligent equipment, technology research, and digital production services, totaling over $13.6 billion.
Sinochem Holdings emphasized its strategy of expanding diverse import channels to ensure supply chain stability. Partnerships with renowned companies such as Saudi Aramco, Kuwait Petroleum, Mitsui & Co., Ltd., Vitol Group, TotalEnergies, CHIMEI, Kao Corporation, and Sri Trang Group enabled the import of high-quality crude oil, petroleum products, methanol, engineering plastics, emulsifiers, industrial salt, and natural rubber. By collaborating with upstream energy and chemical companies, Sinochem Holdings is enhancing quality import channels to stabilize domestic supply chains.
Furthermore, Sinochem Holdings focuses on new productive forces and is committed to promoting high-quality development in domestic industries. The company has been dedicating to enhancing the business presence of its overseas subsidiaries in China, empowering domestic industries with advanced global technologies. Five participating subsidiaries—Syngenta Group (Switzerland), Adisseo (France), Elkem (Norway), KraussMaffei (Germany), and Prometeon Tyre Group (Italy)—showcased innovative technologies and solutions in areas like biotech breeding, digital agriculture, animal nutrition, new chemical materials, low-altitude economy, additive manufacturing, high-end tires, and green low-carbon technologies. These companies signed multiple supply agreements with Chinese clients at the CIIE, generating sales exceeding $1.5 billion.
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View original content:https://www.prnewswire.co.uk/news-releases/sinochem-holdings-secures-over-13-billion-in-procurement-at-7th-ciie-enhancing-global-industrial-collaboration-302295205.html
Fintech PR
COCA Unveils Black November: Zero Fees on Swaps, Spending, and FX with the COCA Crypto Card
HONG KONG, Nov. 5, 2024 /PRNewswire/ — This November, COCA is thrilled to announce its Zero-Fee Black November offer, delivering one of the most competitive zero-fee crypto wallet and card experiences in the industry. With zero fees on swaps, card spending, and FX, COCA is dedicated to helping users keep more of their crypto gains by reducing the costs that often come with swapping and spending cryptocurrencies in the real world.
Why COCA Leads the Way in Zero Fees
Most crypto apps, including Coinbase, Crypto.com, Revolut, and popular DEXs, add commission fees that reduce users’ earnings. COCA’s Zero-Fee Black November, however, offers the opportunity to transact with zero costs. Here’s how COCA stands out:
- Zero Commission on Cross-Chain Swaps: COCA users can swap assets seamlessly across 13 chains with no commission fees.
- Zero Fees on Card Spending: Every COCA card transaction—whether online or in-store—is fee-free.
- Zero FX Fees Worldwide: COCA cardholders can shop at 80 million+ merchants with no foreign exchange fees, ideal for international spending.
- No Membership Fees: COCA’s transparent structure means no annual card fees—users gain access to all benefits without hidden costs.
Earn Rewards with COCA Points
In addition to zero fees, COCA users earn COCA Points on every card transaction. These points can unlock exclusive rewards, including eligibility for an upcoming airdrop. This reward structure allows users to save with each transaction while gaining even more value with each purchase.
Zero-Fee Black November – The Perfect Time to Join COCA
Now through the end of November, users can secure COCA’s exclusive zero-fee offer by ordering a COCA card. COCA’s zero-fee structure, paired with COCA Points rewards, allows users to maximize savings and enjoy added benefits on every transaction.
About COCA
COCA is a next-generation crypto super app designed to simplify and secure the crypto experience for users worldwide. With innovations in security, usability, and integration, COCA is at the forefront of the digital asset revolution. For more information, visit coca.xyz.
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View original content:https://www.prnewswire.co.uk/news-releases/coca-unveils-black-november-zero-fees-on-swaps-spending-and-fx-with-the-coca-crypto-card-302296499.html
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