Fintech PR
Huma Raises $38M to Hyper-scale its Payment Financing (PayFi) Network
Huma Finance is transforming payment financing by utilizing real-world assets to deliver instant and borderless liquidity, enabling faster, more accessible, and more efficient financial solutions.
SAN FRANCISCO, Sept. 12, 2024 /PRNewswire/ — Huma, the first Payment Financing (PayFi) network, announced today that it has raised $38 million in funding. Distributed Global led the equity round, with significant participation from Hashkey Capital, Folius Ventures, the Stellar Development Foundation, and TIBAS Ventures, CVC arm of İşbank, the largest private bank in Turkiye. Part of this raise came as investments into high-yield real world assets (RWA) assets on platform.
The vast majority of businesses and people around the world depend on a form of payment financing. Credit cards alone finance $16T in merchant payments globally. Trade finance facilitates $10 trillion in B2B payments. One in every six families depends on remittances—money sent back home across the borders—yet even that system depends on trillions of dollars being locked in pre-funding accounts. The list goes on. While the demand for payment financing increases daily, creating an urgent need for more innovative solutions, traditional financial institutions are unable—or unwilling—to meet this need, widening the liquidity gap with each passing day. Payment financing is so ingrained in every part of our lives that, without it, the entire economy would stop growing.
PayFi aims to address this giant liquidity gap by bringing trillions of dollars of real world payment volume over to blockchains and stablecoins. Leveraging the core strengths of blockchain—global money movement in seconds through programmable money—PayFi also enables new real-world use-cases that were previously impossible. Huma has built the first ever PayFi network with all of these use cases in mind, adopting an open, modular and decentralized approach to empower interoperable solutions across participants. By bringing the best of RWA, Payments, and DeFi together, Huma is creating a network that is far more efficient and accessible than traditional alternatives.
“While designing Huma, we often asked ourselves: How do you build an open payment financing network on blockchain that is more powerful than Visa? Today, stablecoins are already powering $2T in payments annually. An open payment financing network is going to help grow the entire payment ecosystem faster.” said Huma co-founder Richard Liu. “The surge of interest we’re seeing right now is a testament to PayFi’s potential. As more partners join us every week, it’s clear that PayFi is quickly becoming the new frontier of RWA.”
Building on this vision, Huma’s April merger with Arf, the leading on-demand liquidity solution for global payments, brought together the two of the most prominent PayFi players. Huma and Arf have already surpassed $1.8 billion in payment financing transactions and are on track to reach $10 billion next year, making them one of the fastest growing use cases for Circle’s USDC.
Part of this raise came as investments into Arf’s high-yield RWA assets. The Stellar Development Foundation provided a $10 million investment. Additionally, tokenized assets are currently available to accredited investors on Scroll for a limited period. With this funding infusion, Huma plans to further expand its PayFi network to the Stellar smart contract platform and to Solana in the coming months, making sure the network is accessible from all the major payments-focused chains.
“Moving money quickly and cheaply across borders is at the core of what the Stellar network does best. PayFi is providing real world utility that solves problems for people and companies, and it is the type of project tailor-made for the Stellar network. We look forward to continuing to working with Huma to grow the PayFi ecosystem,” said Denelle Dixon, CEO of the Stellar Development Foundation.
“Huma’s PayFi network represents an important step forward in payment financing, offering solutions to long-standing inefficiencies in the industry,” said Chao Deng, CEO of HashKey Capital. “We believe innovations like this are crucial for addressing real-world challenges, and we’re pleased to see Huma playing a key role in advancing the Web3 space.” Huma’s growing PayFi network has caught the attention of leading blockchain advocates, further fueling the momentum behind PayFi. The Solana Foundation’s support signals how PayFi’s innovative on-chain financial solutions are set to redefine global finance.
“PayFi is the creation of new financial markets around the time value of money. On-chain finance can enable new financial primitives, product experiences, and financial access that are impossible in traditional or even Web2 finance. When I met the Huma team, it was immediately apparent that they’d be a great anchor for the PayFi ecosystem within Solana.” said Lily Liu, President of Solana Foundation.
Huma plans to launch the Huma Foundation this year, a pivotal move to decentralize its PayFi network and broaden global access, further solidifying its leadership in the RWA space. Additionally, Huma is set to host the inaugural PayFi Summit in collaboration with the Solana Foundation and Stellar Development Foundation at Singapore Token 2049 on September 17th——an event poised to ignite conversations and drive innovation in the industry.
About Huma
Huma Finance is the first PayFi network. Huma powers financing of global payments, with instant access to liquidity anywhere, anytime. For more information about Huma and the PayFi network, visit https://huma.finance/
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View original content:https://www.prnewswire.co.uk/news-releases/huma-raises-38m-to-hyper-scale-its-payment-financing-payfi-network-302246341.html
- Jaehoon Chang is promoted to Vice Chair of Hyundai Motor Group – Automotive Division
- José Muñoz appointed as CEO of Hyundai Motor Company
- Sung Kim appointed as President of Hyundai Motor Company
- Jun Young Choi is promoted to President of Kia Corporation; and Kyoo Bok Lee is promoted to President of Hyundai Glovis
- Appointment of new CEOs for the Group’s affiliates, including Cheol Seung Baek, Hyundai Transys; Joon Dong Oh, Hyundai KEFICO; Hanwoo Lee, Hyundai E&C; Woo Jeong Joo, Hyundai Engineering
SEOUL, South Korea, Nov. 15, 2024 /PRNewswire/ — Hyundai Motor Group (the Group) today announced key executive appointments for the year 2024 as part of its aims to solidify sustainable growth and better prepare for uncertainties in the global business environment.
This appointment reflects its commitment to a performance-based approach that aligns with outstanding achievements. By consolidating the Group’s core competencies and strategically placing proven leaders with verified track records in key positions, the Group aims to strengthen organizational foundations and accelerate our future transformation.
Jaehoon Chang is promoted to Vice Chair of Hyundai Motor Group – Automotive Division, effective Jan. 1st, 2025, to further strengthen the future competitiveness of the Group’s mobility business.
Looking ahead, Chang will oversee the entire value chain, including product planning, supply chain management manufacturing, and quality assessment. He will optimize business operations across the automotive business while securing internal synergies and building foundational systems for cost and quality innovation to ensure sustainable future competitiveness.
José Muñoz is appointed President and CEO of Hyundai Motor Company to advance global management framework and solidify customer-focused mobility innovation through diverse powertrain offerings, including electric, hybrid, ICE and hydrogen technologies, effective Jan. 1st, 2025.
As a result, Muñoz is appointed as the first non-Korean CEO of Hyundai Motor – identified as the ideal fit to further enhance the company’s performance thanks to his merit-based management philosophy and his commitment to recruiting top global talent. Going forward, he is expected to enhance the company’s global management systems and further elevate its stature as a leading global brand.
Sung Kim is appointed as President of Hyundai Motor Company to manage the business effectively through global economic uncertainties, effective Jan. 1st, 2025.
As part of his appointment to enhance the company’s Think Tank capabilities and better navigate various geopolitical challenges, Kim will oversee global external affairs, analyze and research domestic and international policy trends, and lead communications and PR initiatives. He will focus on increasing synergies across the company’s intelligence functions, strengthening external networking and advancing global protocol capabilities.
Jun Young Choi is promoted to President of Kia Corporation from Head of Domestic Production Division and Chief Safety Officer (CSO). Kyoo Bok Lee, CEO of Hyundai Glovis, is promoted to President.
To strengthen sustainable management and accelerate business transformation, the Group has appointed Cheol Seung Baek as CEO of Hyundai Transys and Joon Dong Oh as CEO of Hyundai KEFICO.
To address challenges in the construction industry and accelerate fundamental improvements, the Group has appointed Hanwoo Lee as CEO of Hyundai Engineering & Construction Co., Ltd. (Hyundai E&C) and Woo Jeong Joo as CEO of Hyundai Engineering Co., Ltd.
* Editor’s note: Appointment of all CEOs referenced are subject to approval by the relevant Group affiliate’s Board of Directors
About Hyundai Motor Group
Hyundai Motor Group is a global enterprise that has created a value chain based on mobility, steel, and construction, as well as logistics, finance, IT, and service. With about 250,000 employees worldwide, the Group’s mobility brands include Hyundai, Kia, and Genesis. Armed with creative thinking, cooperative communication and the will to take on any challenges, we strive to create a better future for all.
More information about Hyundai Motor Group can be found at:
http://www.hyundaimotorgroup.com or Newsroom: Media Hub by Hyundai, Kia Global Media Center (kianewscenter.com), Genesis Media Center.
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Fintech PR
DC to VC – NatWest Cushon and Future Planet Capital Lead the Charge in UK Pension Access to British Innovation
LONDON, Nov. 14, 2024 /PRNewswire/ — Future Planet Capital (FPC) is delighted to be working with NatWest Cushon, with a view to the Cushon Master Trust potentially making an investment in the British Co-Investment Fund (BCF). Any future investment will be subject to commercial terms, due diligence, and Trustee approval. If approved, NatWest Cushon’s participation would signify a major step forward, creating new avenues for British pension funds to access high-growth, private technology companies at scale. In partnership with pension solutions provider Mobius Life, the Fund will channel pension investment into the UK’s most innovative and impactful businesses.
The BCF closely aligns with the Chancellor of the Exchequer’s vision under the Mansion House Reforms, aiming to unlock large-scale investment in key British industries. It emphasises the private sector’s pivotal role in accelerating innovation and economic growth, through supporting the UK’s most promising and high-impact technology businesses.
Historically, British pension funds have had limited access to high-growth investment opportunities within the UK, meaning that overseas investors have been the primary beneficiaries of the nation’s flourishing innovation economy. Indeed, according to the BVCA, 86% of venture capital investment comes from overseas investors. To redress the balance, the BCF will be one of the first funds designed specifically for UK regular savings pension funds. It will offer direct and ongoing access to investments in the strategic technologies of the future.
Examples of companies likely to benefit from the Fund’s investments include Tokamak Energy, a world-record holder in nuclear fusion technology. The government-backed UK Innovation and Science Seed Fund (UKI2S), managed by Future Planet Capital, was the first investor in Tokamak Energy, which has since gone on to raise over $250m. This demonstrates the role of public-private partnership in supporting British technology to drive both economic growth and environmental impact. With the support of mainstream British capital, much more can now be done.
Lord Norman Foster, Chair of Future Planet Capital’s Advisory Board shared, “One of our most important tasks is to anticipate the future and find ways to have a positive impact on the wellbeing of people and the planet. We will need intellectual and financial capital to make that happen. This partnership supports the excellent work that is being done to invest in ground-breaking technologies which offer incredible potential.”
Douglas Hansen-Luke, Executive Chairman and Co-founder of Future Planet Capital, commented, “This collaboration enables British pension savers to support the next generation of British innovation, ensuring that UK capital not only backs but also benefits from the country’s technological and sustainable advancements.”
Julius Pursaill, Pensions expert and advisor to the Cushon Master Trust, said:
“There are a number of good reasons to support the UK Growth agenda. Innovations like the British Co-Investment Fund play an important role in delivering on this objective by driving financial growth whilst also offering access to innovative, impact-focused sectors such as climate technology and artificial intelligence, which can help secure the future for pension savers and broader society.”
About Future Planet Capital
Future Planet Capital is an impact-led venture capital firm built to back growth companies from the world’s top universities and research ecosystems. Founded in Britain with global outlook and reach, Future Planet Capital manages over $460m for public and private investors and has deployed a further $200m of co-investment. With 140 portfolio companies across geographies and stages their mission is to invest in high-growth companies solving global challenges. Mapped against the UN Sustainable Development Goals, these include climate change, education, health, security, and sustainable growth.
For more information visit: https://futureplanetcapital.com/
Other potential investments include:
Tropic Biosciences, founded in 2016 with an initial investment from Future Planet Capital’s UKI2S fund, is reshaping agriculture to improve resilience, efficiency, and sustainability in food production.
Roslin Technologies, spun out of the University of Edinburgh, pioneers the development of pluripotent stem cells for cultivated meat. Their technology addresses the global protein gap by enabling scalable, sustainable meat production without raising animals. By providing genetically stable, self-replicating stem cells, Roslin delivers solutions that reduce production costs to less than $15/kg, positioning itself as a leader in a $2BN cell market by 2035.
Beam (formally known as Rovco) is a growth-stage autonomous robotics company specialising in subsea services for the offshore wind sector. With £19 million in 2023 revenue, the company is rapidly scaling, leveraging cutting-edge AI and computer vision to lead the way in subsea autonomy.
Quotes of Support:
Lord Wei of Shoreditch
”Changing the world and making an impact at scale is really tough and at times can be a lonely place. Future Planet Capital has managed to pull together globally an immense network of investors, founders, and experts to tackle the biggest challenges facing the world today. It is truly a fellowship, and a font of innovation, as well as being a premier fund platform. In these fast changing times it is so reassuring to know that there are innovators working on making the world a safer, cooler, and better place, whose chances of success are being supercharged through the FPC community.”
Jim Wilkinson, Chief Financial Officer, Oxford Science Enterprises
‘Future Planet Capital’s investment strategy offers not only something different, but something that has been lacking in this space. Its approach as well as its scope -involving a remarkable series of partnerships with leading universities and university venture funds – make it a very valuable strategic partner for anyone active in this field.’
Paul Abberley, Investment Governance Board Chair
CEO at Charles Stanley, one of the oldest firms on the London Stock Exchange. Previously the CEO / CIO of Aviva Investors.
‘Successful innovations deliver superior investment returns. When those innovations have a positive impact on broader society, the capital investments which makes them possible benefit all stakeholders. Responsible investing of this type is easy to envisage but harder to implement, because identification of suitable opportunities is so challenging. The Future Planet approach bridges that gap.’
Priya Guha OBE, Member of the Future Planet Capital Investment Governance Board
‘With the Chancellor firing the starting gun on this Government’s pension reforms in yesterday’s Mansion House Speech, I am delighted Future Planet Capital are able to announce they are in discussion with NatWest Cushon for an investment into the British Co-Investment Fund. With their strong reputation for investing in high-growth high-impact companies in the technology sector, Future Planet Capital’s BCF is exactly the right vehicle through which pension funds can back the scaling companies of the future; a win-win for British scale-ups and for British pensioners.’
Matthew Hurn OBE, Deputy Chair of Future Planet Capital’s Advisory Board
‘The UK Growth agenda presents an exciting opportunity and it is vital that we have in place the tools needed to fulfil this potential. I strongly welcome this partnership which signals an important step forward – helping to pave the way to greater financial growth while offering savers access to world leading, impactful innovation.’
View original content:https://www.prnewswire.co.uk/news-releases/dc-to-vc–natwest-cushon-and-future-planet-capital-lead-the-charge-in-uk-pension-access-to-british-innovation-302306339.html
Fintech PR
Universal Consulting Opportunities (UCO), a Stellar MLS Subsidiary, Signs Agreement with NAR India As Advisor to Develop a National MLS
ALTAMONTE SPRINGS, Fla., Nov. 14, 2024 /PRNewswire/ — UCO, a subsidiary of Stellar MLS, a leading multiple listing service (MLS) in the U.S. and the fastest-growing in the world, has entered into a landmark agreement with the National Association of REALTORS® (NAR) India as an advisor to successfully launch an MLS across India. This milestone signifies Stellar MLS’s commitment to enhance the real estate industry on a global scale, expanding UCO’s presence worldwide, and furthers NAR India’s journey to modernize and elevate the Indian real estate industry.
Founded in 2008, NAR India is a nonprofit organization that facilitates the professional development of its members and promotes the highest standards and accreditation in the national real estate industry. It is one of only two countries to hold the NAR designation; Canada is the other. UCO will consult with NAR India’s team to guide in areas including the establishment of an MLS, technology, business strategy, organizational setup, and vendor management.
“We are delighted to align with NAR India, a highly respected organization that shares our values of quality customer service, trust and data integrity to benefit the burgeoning real estate market in India,” said Merri Jo Cowen, CEO of UCO and Stellar MLS. “This is a significant nationwide initiative, and we are proud to share our expertise in establishing the MLS concept across India and be a part of NAR India’s mission to utilize the power of collaboration, transparency and an efficient marketplace.”
Cowen also noted the alignment’s potential benefits to Stellar MLS’s Florida customers, such as through referral opportunities: Florida is home to many Non-Resident Indians (NRIs). Current trends highlight the increasing influence of NRIs in shaping India’s real estate landscape, driven by both emotional connections to their homeland and the pursuit of investment opportunities. On the flipside, India is one of the largest foreign investors in Florida real estate, with $5.4 billion in investments in 2020.
“The partnership between UCO and NAR India marks a pivotal moment for the Indian real estate industry,” said Amit Chopra, President, NAR India. “It brings cutting-edge MLS expertise to India, fostering transparency, trust, and professionalism in our market.”
Tarun Bhatia, Vice Chairman and Chair-Global, NAR India, added: “It also creates exciting opportunities for Indian REALTORS® to showcase properties to a global audience, particularly NRIs, fostering stronger international connections.”
Sumanth Reddy, Chairman, NAR India, concluded: “We are proud to embark on this journey with UCO and look forward to the transformative impact it will have on our members and the industry as a whole, opening up new avenues for growth and collaboration.”
Dr. Mathew Kallumadil, UCO Vice President of Global Markets and Stellar MLS Vice President of Technology and Innovation noted the shared synergies between UCO and NAR India. “India is a complex, diverse market with different languages and cultures within the country, and UCO’s experience in accommodating regional differences and helping build scalable MLS systems will be invaluable in developing a sustainable MLS framework,” Dr. Kallumadil said. “Indian society is very highly digitized, and that is critical to a successful MLS and the ecosystem around it.”
The partnership with NAR India expands UCO’s presence to South Asia, in addition to Europe and the Middle East. UCO recently entered into other strategic global consulting opportunities, including with MLS Leader (Romania) and Arab MLS (Middle East) to optimize real estate practices across their respective regions, and with Igluu, a Prague-based digital technology firm, to expand the MLS concept in Europe. Furthermore, UCO has been actively engaged in global forums to support a forward-thinking approach to transforming the industry and its presence is supported through its partnerships with CEPI, the European Association of Real Estate Professions, and FIABCI, the International Real Estate Federation.
For information about UCO and Stellar MLS, visit stellarmls.com/global.
Media Contact: Caryn McBride
Co-Communications
[email protected]
Photo – https://mma.prnewswire.com/media/2558237/Stellar_MLS_NAR_India.jpg
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