Fintech PR
MODIFI Secures Strategic Investment from SMBC Asia Rising Fund to fuel Asian exports by SMEs
Fintech leader strengthens position in cross-border B2B payments and trade finance, eyeing rapid growth across Asia, including China and India
AMSTERDAM and SINGAPORE, Nov. 6, 2024 /PRNewswire/ — MODIFI, a leading global platform in B2B Buy Now, Pay Later (BNPL) solutions, today announced the successful completion of a $15 million funding round led by SMBC Asia Rising Fund with participation from existing investors Maersk, IntesaSanPaolo, Heliad and other top-tier global investors. Sumitomo Mitsui Banking Corporation (SMBC), one of Japan’s leading banks and a major financial force in the APAC region, brings both capital and strategic alignment to the partnership. Beyond the equity investment, MODIFI and SMBC have signed a Memorandum of Understanding (MoU) to jointly advance digital solutions that support SME exporters across Asia in expanding their international trade operations. Through a series of joint initiatives, MODIFI and SMBC aim to empower SMEs with innovative cross-border financing solutions.
The announcement comes on the sidelines of Singapore Fintech Festival, showcasing MODIFI’s drive for innovation in the global fintech landscape. This new capital infusion will accelerate MODIFI’s expansion, particularly in high-growth markets like China and India, where the company has already made significant inroads. MODIFI’s platform delivers critical liquidity and flexible payment terms to small and medium-sized enterprises (SMEs), helping them optimize cash flow and expand their international reach.
“The funding underscores the strength of our business and the confidence our investors have in our vision for the future,” said Nelson Holzner, CEO and Co-founder of MODIFI. “As global commerce evolves, MODIFI is at the forefront, providing innovative solutions that empower businesses to scale and succeed across borders.”
MODIFI’s exponential growth has solidified its position as a market leader in cross-border payments and trade finance. Recognized by Financial Times and Statista as one of the Fastest Growing European Fintech Companies in 2024, MODIFI has facilitated over $3 billion in global trade for more than 1,800 companies since it was founded in 2018. The platform offers instant working capital approval, alongside integrated risk management tools that shield businesses from buyer defaults and fraud.
“Our mission is simple: We empower SMEs to compete and thrive in the global market with fast, flexible, and secure payment solutions,” added Holzner. “With this fresh funding, we’re set to redefine global trade finance—ensuring businesses of all sizes can unlock the liquidity and get the protection they need to grow internationally.”
“By transforming cross-border supply chain finance for the digital age with their global presence, we believe MODIFI supports SMEs to scale their export businesses with ease. We look forward to collaborating with MODIFI to empower our corporate clients to expand their businesses globally with agility and financial flexibility overcoming traditional trade barriers,” said Keiji Matsunaga, General Manager of Digital Strategy Department, SMBC.
About MODIFI
MODIFI is redefining global trade finance as a leader in B2B Buy Now, Pay Later (BNPL) solutions. Trusted by businesses across 55+ countries, MODIFI provides cutting-edge tools that optimize working capital and streamline cross-border payments. Through its extensive global network, MODIFI delivers fast, flexible, and secure financial solutions, helping companies expand their international footprint with ease. By integrating advanced risk management features and seamless payment processes, MODIFI is setting new benchmarks in global commerce, empowering businesses of all sizes to thrive in a rapidly evolving market.
About SMBC and SMBC Asia Rising Fund
SMBC, one of the leading banks in Japan, co-funded SMBC Asia Rising Fund with Incubate Fund which is a corporate venture capital fund, for the purpose of accelerating business development and partnerships through investments in high potential start-ups operating actively in Asia. Through this fund, SMBC Group will enhance its business and provide clients with new solutions by uncovering/ applying new technologies via partnerships with investee firms and the development of new business models and products.
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View original content:https://www.prnewswire.co.uk/news-releases/modifi-secures-strategic-investment-from-smbc-asia-rising-fund-to-fuel-asian-exports-by-smes-302297108.html
Fintech PR
GTN bolsters European growth with FCA authorisation
LONDON, Nov. 6, 2024 /PRNewswire/ — GTN, a global fintech redefining investing and trading for all, is proud to announce that it has secured authorisation from the UK Financial Conduct Authority (FCA). This strategic achievement reinforces GTN’s position as a global fintech leader, enabling the company to offer a broader range of investment services to the European financial services community.
With FCA authorisation, GTN is set to expand its service portfolio to include Tripartite Model B services, addressing the needs of wealth managers, fintechs, and other firms authorised to trade on behalf of their clients but require custody to be supplied by a partner firm.
“We are thrilled to officially launch our European subsidiary and excited to add the UK to our portfolio of regulated entities. The FCA authorisation aligns with GTN’s mission to support the vibrant European financial and fintech ecosystem,” said GTN’s co-founder and Group CEO, Manjula Jayasinghe, “GTN’s regulatory presence in the UK now complements its existing operations in the US, Singapore, and Dubai, further reinforcing its global reach. “
With its global footprint and deep understanding of the fintech landscape, GTN is uniquely poised to meet the growing demand for innovative financial solutions in Europe.
About GTN
GTN is a fintech pioneer with decades of success, holding broker-dealer and capital markets services licenses in multiple jurisdictions through subsidiaries. We are committed to empowering brokers, banks, asset managers, and fintechs with scalable and innovative investment and trading solutions that enable access to a comprehensive network of global markets and multiple asset classes, making investment and trading accessible to all.
GTN brings together a diverse team of over 500 talented individuals spread across Brazil, Hong Kong, Saudi Arabia, Singapore, South Africa, Sri Lanka, the UAE, the UK, and the US, united by a shared passion and purpose: empowering clients and transforming the accessibility to investment and trading opportunities for all.
GTN is backed by strategic investors IFC, a member of the World Bank Group, and SBI Group, one of the largest financial services firms listed on the Tokyo Stock Exchange. To learn more, visit www.gtngroup.com or follow us on LinkedIn.
Logo: https://mma.prnewswire.com/media/1904122/5005459/GTN_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/gtn-bolsters-european-growth-with-fca-authorisation-302296869.html
Fintech PR
Groupe Mutuel integrates Ada Health’s AI-powered care navigation into their member experience across Switzerland to support personalized, streamlined access to care
- Ada Health’s AI health assessment and care navigation technology is integrated into Groupe Mutuel’s app. It helps members better understand their symptoms and care needs and directs them to relevant care options 24/7.
- Ada incorporates users’ Groupe Mutuel insurance plans when making care recommendations, enabling personalized care journeys that include the most appropriate support and services.
- The announcement continues Ada’s strong growth in the insurer and payer segment following the recent renewal of its partnership with French health insurance aggregator Santéclair.
BERLIN and MARTIGNY, Switzerland, Nov. 6, 2024 /PRNewswire/ — Ada Health, the leading global AI health assessment and care navigation platform, and Groupe Mutuel, the comprehensive insurer, have launched a partnership to support quicker and easier access to affordable, effective care for up to 1.4 million Groupe Mutuel members across Switzerland.
Through this partnership, Ada’s clinically validated AI helps Groupe Mutuel offer tailored healthcare experiences for their members. For these members, Ada’s on-demand, trustworthy health assessments support them by navigating them to a wide array of services, 24/7. Facilitating quick, round-the-clock access to clinically appropriate services across Groupe Mutuel’s extensive care and partner network can improve time-to-treatment and potentially reduce unnecessary primary care visits.
Following an assessment, members will receive a recommendation for appropriate care options included in their policy and a referral voucher for reimbursement. Ada assessments are integrated into a member’s Groupe Mutuel single sign-on and are available in Italian, French, German, and English.
Since taking effect, Ada has already demonstrably improved member confidence, with a 59% reduction in members who are unsure of what care they should seek for their concerns. Members are also able to access guidance and services through Ada 24/7, with more than half of members utilizing Ada outside of normal clinical hours.
In addition to supporting members in understanding their health and navigating to care, Ada also helps highlight existing or unknown risk factors, such as high blood pressure and diabetes, informing potential prevention campaigns to improve long-term member well-being.
Nicholas Altebrando, Chief Product Officer at Ada, said: “At Ada, we believe that AI can help care-seekers everywhere access the right care at the right time. Partnering with insurance services enables us to provide tailored care pathways for members, helping us achieve this vision. We’re pleased to be extending our partnership with Groupe Mutuel to navigate its members to the right treatment and provide access to tailored, affordable, and efficient care for individuals across the Swiss healthcare system.”
Nicolas Höfler, Head of Digital Services & Ecosystems at Groupe Mutuel said: “By integrating Ada’s AI, Groupe Mutuel is the first health insurer in Switzerland to take an innovative and forward-looking approach to healthcare. It does not replace a doctor, but offers our members immediate and reliable assistance by orienting them to next steps.
“Offering a high level of diagnostic accuracy, Ada contributes to Groupe Mutuel’s aim of relieving the burden on the healthcare system by avoiding unnecessary visits to the doctor or guiding to more suitable services for their personal needs. Minor cases, which in the past caused overloads, can now be handled more specifically and efficiently – an advantage for members and the entire healthcare system.”
Groupe Mutuel users with questions about their symptoms can conduct a free AI-powered Ada health assessment directly through the Groupe Mutuel app. Based on their responses, Ada then provides users with tailored next steps based on their needs and personal insurance plan.
Ada assessments are available for any Groupe Mutuel member in Switzerland via the Groupe Mutuel app. For more information, visit www.groupemutuel.ch/en/private-customers/our-services/ada.html
About Ada Health
Ada Health is a global health company founded by doctors, scientists, and industry pioneers to create new possibilities for personal health and transform knowledge into better outcomes. Its core system connects medical knowledge with intelligent technology to help tens of millions of people actively manage their health and health systems to deliver more effective care.
Ada Health’s powerful AI-based health assessment platform helps users better understand their mental and physical symptoms through a thorough series of questions based on clinically validated AI and protocols, and based on their responses, navigates them to the most appropriate available services and support. The platform’s medical knowledge covers an industry-leading range of symptoms and conditions, while the platform itself prioritizes user safety and accuracy and is designed to be as inclusive as possible.
The company also works with a range of leading health providers and organizations internationally to help direct users to the right care, support overburdened systems, and help manage diseases with the ultimate aims of improving health outcomes and delivering seamless end-to-end healthcare journeys.
About Groupe Mutuel
With over 2,800 employees across Switzerland, Groupe Mutuel serves more than 1.4 million individual customers and over 29,500 companies. As the only multiline insurer in Switzerland, Groupe Mutuel is the reference partner in the field of health and retirement benefits for private and corporate customers. Its turnover exceeds CHF 5.8 billion.
Thanks to tailored solutions, whether in basic insurance (LAMal/KVG) or supplemental insurance (LCA/VVG), it is the third largest health insurer in Switzerland. Groupe Mutuel also offers an extensive range of products in individual retirement benefits and patrimony insurance.
Based in Martigny, the insurer provides companies of all sizes with solutions for loss of earnings in the event of illness, accident insurance (LAA/UVG) and occupational pension plans (LPP/BVG). In the field of corporate health insurance, Groupe Mutuel is ranked fifth nationwide.
Fintech PR
AMPCO METAL Acquires Schmelzmetall Group to Expand Capabilities and Enhance Customer Offerings
MARLY, Switzerland, Nov. 6, 2024 /PRNewswire/ — AMPCO METAL, a global leader in copper-based alloys, is pleased to announce its acquisition of Switzerland-based Schmelzmetall Group, a renowned producer of high-performance copper alloys. This strategic acquisition strengthens AMPCO METAL’s position in the industry and expands its offerings to better serve customers across aerospace, defense, additive manufacturing, and other advanced applications.
With the integration of Schmelzmetall’s technology and expertise, AMPCO METAL can now deliver an even wider range of innovative solutions. Schmelzmetall is known for its specialized copper alloys, including Beryllium-containing powders and other high-purity materials, which offer unique advantages in demanding applications. Together, the combined companies are positioned to bring customers new capabilities and access to expanded technical resources.
Key Benefits for AMPCO METAL Customers
- Expanded Additive Manufacturing Solutions: Schmelzmetall’s high-performance copper-based metal powders and advanced 3D-printing capabilities enable the production of custom components with exceptional precision. AMPCO METAL now invites customers to explore opportunities in additive manufacturing using these specialized materials.
- Enhanced Offerings for Aerospace and Defense: Schmelzmetall’s vacuum-cast alloys offer superior reliability, with innovations in non-destructive testing that guarantee defect-free materials. These alloys are ideal for aerospace and defense applications requiring high chemical consistency and minimal porosity.
- Advanced Welding and Casting Expertise: The integration brings additional technical know-how in resistance welding, high-pressure aluminum injection, and low-pressure casting, supporting AMPCO METAL’s commitment to offering industry-leading solutions in metal processing.
Seamless Integration for Uninterrupted Service
AMPCO METAL has begun integrating Schmelzmetall’s sales team, with completion anticipated by the end of the year. During this period, customers can expect the same points of contact and continued, uninterrupted service.
A Stronger Commitment to Quality and Innovation
“This acquisition aligns with our mission to deliver top-quality products and services that meet the evolving needs of our customers,” said Martin Lütenegger, Group CEO of AMPCO METAL. “We’re excited to build on Schmelzmetall’s legacy and bring new capabilities to our clients worldwide.”
For more information, please contact your AMPCO METAL representative or visit our website at www.ampcometal.com
Contact:
Jérémie Dalin
Group Head of Marketing
+41264399300
Photo: https://mma.prnewswire.com/media/2549085/AMPCO_METAL.jpg
View original content:https://www.prnewswire.co.uk/news-releases/ampco-metal-acquires-schmelzmetall-group-to-expand-capabilities-and-enhance-customer-offerings-302296613.html
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