Fintech PR
AIP Capital and ITA Airways Complete Secured Debt Financing
DUBLIN and STAMFORD, Conn. and ROME, Aug. 20, 2024 /PRNewswire/ — AIP Capital (“AIP”), an alternative investment manager focused on opportunities in commercial aviation, announced it has completed a $240m debt financing to a wholly owned subsidiary of ITA Airways (“ITA”) through its Private Credit strategy. The $240 million debt financing is secured by three 2024 Airbus A330-900neo aircraft with Rolls-Royce Trent 7000 engines.
The financing transaction will provide ITA with an innovative capital solution to further strengthen its financial position and enhance its growth. With the introduction of the latest generation eco-efficient A330neo, ITA continues its fleet modernization to meet its ambitious sustainability targets. The A330neo incorporates the latest-generation Rolls-Royce Trent 7000 engines, new wings and a range of aerodynamic innovations which offers a 25% reduction in fuel consumption and CO2 emissions.
“We are proud to deepen our partnership with ITA Airways by providing a bespoke financing solution to support ITA’s fleet modernization,” said Michael Kittle, Managing Director, Head of Private Credit at AIP Capital. “This transaction is a testament not only to our shared mission of fostering more sustainable air travel, but to AIP’s expertise in structuring innovative, scaled, capital solutions for our airline customers globally.”
“This agreement represents a milestone in the expansion of ITA’s new-generation fleet” said Antonino Turicchi, Chairman of ITA, “and is in line with ITA Airways’ strategy of flanking shareholder equity with a balanced contribution of debt capital. This transaction is another important stride forward in ITA Airways’ growth strategy, and it has been possible thanks to an increasing credibility with banks and investors which was acquired through the positive performance recorded in 2023 and in the first half of 2024. We are pleased with the trust provided to us by the AIP Team.”
The new-generation aircraft are highly demanded due to their low fuel consumption, lower operating costs, and reduced emissions, enabling a significant reduction in carbon footprint. ITA has made significant progress with fleet renewal since inception in October 2021, growing from 52 aircraft to 100 aircraft today, with new-generation types representing 58% of the total fleet, delivering a 25% reduction in fuel and CO₂ emissions.
AIP Capital’s Private Credit business, through its global origination capabilities and long-term investor relationships, provides tailored financing solutions secured by aircraft and non-aircraft collateral to airline customers around the world.
About AIP Capital
AIP Capital (AIP) is a global alternative investment manager focused on opportunities in commercial aviation. AIP believes its unique investment strategy, relationships, and hands-on approach enable AIP to execute its mission of generating attractive risk-adjusted returns for its clients across market cycles. With offices in Stamford, Dublin, and Singapore, AIP maintains a global footprint and is backed by a full platform of professionals across finance, technical, legal, risk management and underwriting.
For more information about AIP Capital or to speak with company executives, please contact [email protected].
About ITA Airways
ITA Airways is the Italian reference airline, wholly owned by the Italian Ministry of Economy and Finance. ITA Airways aims to create an efficient and innovative air carrier that will become a reference point in providing Italy with quality connectivity both in terms of international destinations, thus boosting tourism and foreign trade, and within the Country, also taking advantage of the train-air integrated mobility. ITA Airways will place the best customer service at the center of its strategy (through a strong digitization of processes that ensure a best-in-class experience and personalized services), combined with sustainability, in its environmental (new green and technologically advanced aircraft, use of sustainable fuels), social (equality and inclusion for a gender-neutral company) and governance (integration of sustainability into internal strategies and processes) aspects. ITA Airways is a member of SkyTeam alliance as of October 2021.
For press information mail to [email protected]
Logo – https://mma.prnewswire.com/media/2382740/AIP_Capital_Logo.jpg
Logo – https://mma.prnewswire.com/media/2484973/airways.jpg
View original content:https://www.prnewswire.co.uk/news-releases/aip-capital-and-ita-airways-complete-secured-debt-financing-302225720.html
Fintech PR
Nium Expands Across Australia and New Zealand, Driven by Increased Adoption from Financial Institutions and Spend Management Platforms
Spend management platform, RedOwl, joins as latest partner;
Nium has seen monthly payment volume grow by 3X over the last twelve months, in the Oceania region
SYDNEY, Sept. 17, 2024 /PRNewswire/ — Nium, the global leader in real-time cross-border payments, today announced that its monthly payment volume grew by 3X in Oceania, over the last year. This growth has been driven by a surge in adoption from financial institutions and spend management platforms, with AI platform, RedOwl, being the latest partner to join the Nium network. RedOwl’s immediate goal is to bring AI to corporate cards, joining spend management category leaders Weel and Budgetly, who have turned to Nium for white-label card issuing and cross-border payouts.
RedOwl is bringing the power of AI into payment rails, championing intelligence and real-time decision making when it comes to card related payments. “We chose Nium because of their unparalleled infrastructure and expertise in powering modern payments. Their solutions allow us to enter the market faster and deliver greater value to our customers,” said Jitto Arulampalam, Co-founder and CEO at RedOwl.
Budgetly has been a Nium customer since 2020. The company tapped Nium to provide more convenience and control to its SME clientele through the provision of pre-paid cards for expense management processes. “Partnering with Nium has been a game-changer for Budgetly,” said Simon Lenoir, CEO and Founding Director at Budgetly. “Through Nium, we recently launched our international bill payment solution, offering our customers the ability to make payments effortlessly via one portal. This partnership has allowed us to scale rapidly and offer seamless experiences for our customers.”
“The spend management industry is booming in Australia, with businesses increasingly turning to Nium for its white-label card issuing and cross-border payment solutions,” said Anupam Pahuja, EVP and GM for APAC, Middle East, and Africa at Nium. “Our platform solves complex payment problems across a wide range of verticals, including travel, payroll, insurance, and e-commerce. Our card issuance solution has already issued over 75 million cards globally, supporting major global brands. This, along with Nium’s extensive geographical coverage and B2B infrastructure focus, positions the company as a critical enabler for businesses looking to scale in Australia, New Zealand, and beyond.”
In addition to its success in Australia, Nium recently achieved another critical milestone by registering as a Financial Service Provider in New Zealand. This pivotal step marks the company’s entry into the dynamic financial landscape of New Zealand, allowing it to extend its comprehensive suite of financial solutions to local businesses. Nium expects that its offerings will range from virtual accounts and global payouts to debit and prepaid cards, enabling businesses to streamline operations and improve their financial efficiency.
“Becoming a registered Financial Service Provider in New Zealand reaffirms our commitment to delivering innovative financial solutions globally,” continued Pahuja. “Our presence in New Zealand, alongside our established operations in Australia, positions us as a key player in the region’s financial ecosystem, empowering businesses to thrive through our technology.”
Since its founding ten years ago, Nium has raised over $300 million USD (up to Series E). In October 2023, Nium celebrated its Centaur status, reaching $100 million USD in aggregate net revenue — a milestone achieved by only 1% of startups globally. This achievement underscores Niums rapid growth and leadership in enabling seamless global financial services for businesses.
About Nium
Nium, the global leader in real-time, cross-border payments, was founded on the mission to deliver the global payments infrastructure of tomorrow, today. With the onset of the global economy, its payments infrastructure is shaping how banks, fintechs, and businesses everywhere collect, convert, and disburse funds instantly across borders. Its payout network supports 100 currencies and spans 220+ markets, 100 of which in real-time. Funds can be disbursed to accounts, wallets, and cards and collected locally in 40 markets. Nium’s growing card issuance business is already available in 34 countries. Nium holds regulatory licenses and authorizations in more than 40 countries, enabling seamless onboarding, rapid integration, and compliance – independent of geography. The company is co-headquartered in San Francisco and Singapore.
Media contacts:
Anjali DMello,
+6591812542,
[email protected]
Logo – https://mma.prnewswire.com/media/1678669/4916279/Nium_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/nium-expands-across-australia-and-new-zealand-driven-by-increased-adoption-from-financial-institutions-and-spend-management-platforms-302250573.html
Fintech PR
Gold and Fractal EMS Announce a Partnership for an American BMS
ANAHEIM, Calif., Sept. 17, 2024 /PRNewswire/ — Fractal EMS Inc. (“Fractal”), a leading provider of advanced solar and storage controls, has announced a groundbreaking partnership with Gold Electronic Equipment Inc. (“Gold”), a leading high-tech company specializing in R&D, active balancing technology and manufacturing of the battery management system (BMS). A signing ceremony and celebration was held on September 9th at the RE+ clean energy conference in Anaheim, California. The new partnership will provide a cybersecure American BMS to customers worldwide (“Fractal BMS”).
The Fractal BMS provides a 3-level BMS architecture (module, rack and system). The design of the Fractal BMS has been finalized, featuring an American-sourced chip, printed circuit board assembly (PCBA), and cybersecurity, ensuring compliance with U.S. policies for sourcing and critical infrastructure protection. The Fractal BMS has the option to provide active cell balancing to maximize each battery cell’s useful capacity and life.
“Other companies proposing an American BMS have not addressed the cybersecurity concerns of the BMS. Some companies are licensing a foreign BMS or only providing a top-level device, neither of which cure cybersecurity threats and vulnerabilities. We are thrilled to collaborate with Gold to bring this advanced American BMS to the market. This partnership underscores our commitment to innovation, security, and supporting American technology,” said Daniel Crotzer, CEO at Fractal EMS.
Fractal BMS is scheduled for UL testing in late October 2024 and aims to become the gold standard for BESS deployments to mitigate risks associated with Foreign Entities of Concern (FEOC) and known cyber vulnerabilities in programmable devices. The American BMS will be available to battery manufacturers globally, offering a reliable and secure solution for battery management needs.
Logo – https://mma.prnewswire.com/media/2507751/fractal_ems_Logo.jpg
Photo – https://mma.prnewswire.com/media/2507752/Fractal_EMS_Inc.jpg
View original content:https://www.prnewswire.co.uk/news-releases/gold-and-fractal-ems-announce-a-partnership-for-an-american-bms-302250787.html
Fintech PR
Ascenda partners with Uber for first-of-a-kind points redemption for consumers worldwide
NEW YORK, Sept. 17, 2024 /PRNewswire/ — Ascenda, the global premium rewards network, today announced it has expanded its rewards network in order to enable fintech and banking clients’ customers to redeem their reward points in partnership with Uber. These credits will appear in users’ Uber wallets, and can be applied towards the cost of any of their products.
Uber is available in over 70 countries and powers over 30 million rideshares each day. With a global presence, the ability for millions of customers to earn Uber credits aims to deliver more engagement across Uber Rides, Uber Eats, and any other Uber offering in respective local markets.
“We’re committed to adding value for our users, with ease and flexibility at the forefront of our customer experience,” said Jenna Brown, Head of Uber for Business UK. “Our partnership with Ascenda will help us deliver this value to Uber users worldwide.”
“We’re building the most comprehensive consumer engagement ecosystem in the market,” said Josh Berwitz, CCO of Ascenda. “This exciting partnership with Uber enables us to bring tangible rewards and redemption experiences at scale, delivering compelling value and stronger relationships between our financial service clients, our rewards partners, and consumers.”
About Ascenda
Ascenda powers the growth of financial service brands and merchants globally with premium rewards propositions that accelerate customer acquisition, increase usage, and drive retention. Its best-in-class customer engagement platform is simple to deploy and powered by a unique global network of premium content that unlocks exceptional end-user value.
For more information, please visit ascenda.com.
About Uber
Uber’s mission is to create opportunity through movement. We started in 2010 to solve a simple problem: how do you get access to a ride at the touch of a button? More than 49 billion trips later, we’re building products to get people closer to where they want to be. By changing how people, food, and things move through cities, Uber is a platform that opens up the world to new possibilities.
Photo – https://mma.prnewswire.com/media/2507669/202409_Ascenda_Uber_2.jpg
Logo – https://mma.prnewswire.com/media/1948326/Ascenda_Blue_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/ascenda-partners-with-uber-for-first-of-a-kind-points-redemption-for-consumers-worldwide-302250605.html
-
Fintech PR6 days ago
Global Health Exhibition Announces Opportunity for Healthcare Startups to secure over 100,000 SAR in Vision NextGen Competition Designed to Fast-Track Health Innovations
-
Fintech PR6 days ago
Office of family of Yerzhan Tatishev fight for justice: Convicted assassin could be released early in Kazakhstan
-
Fintech PR6 days ago
Onix Positioned as the Leader in the 2024 SPARK Matrix for Cloud Cost Management & Optimization by QKS Group
-
Fintech PR6 days ago
QNB Share Buyback
-
Fintech PR5 days ago
Medius Wins 2024 ISV Partner of the Year Award in Sweden
-
Fintech PR6 days ago
Trintech Named Workday Innovation Partner and Earns Workday Packaged Solution Badges
-
Fintech PR6 days ago
Over 3,000 Business Meetings Mark the Start of BTM 2024
-
Fintech PR6 days ago
HTX Ventures and HTX DAO Lead Web3 Investments and Innovation Discussions at Korea Blockchain Week 2024