Connect with us
Prague Gaming & TECH Summit 2024

Fintech PR

Kinara Capital Wins Global Recognition With Gold Award as Bank of the Year-Asia

Published

on

 

Kinara Capital, a fintech leader driving financial inclusion of small business entrepreneurs in India, today won the Gold award in the Bank of the Year-Asia category, and received an Honorable Mention in the Women-owned SME Bank of the Year category, at the Global SME Finance Awards ceremony held in Amsterdam, The Netherlands.

Organized by the International Finance Corporation (IFC), a member of the World Bank Group, and the SME Finance Forum, and endorsed by the G20’s Global Partnership for Financial Inclusion (GPFI), the Global SME Finance Awards celebrate the outstanding achievements of financial institutions and fintech companies in delivering exceptional products and services to small and medium enterprises (SMEs) around the world. Kinara Capital was nominated by the Overseas Private Investment Corporation (OPIC) for this prestigious honor.

Kinara Capital pioneered small business lending without land or property collateral in India. The company offers fast and flexible loans to small businesses in the INR 2-25 lakhs range. Kinara Capital has disbursed INR 1400 crores across 40,000 loans for Asset Purchase and Working Capital needs of small businesses in the Manufacturing and Trading sectors.

Hardika Shah, Founder & CEO, Kinara Capital, said, “On behalf of my entire team, our partners and well-wishers, we are highly honored to win the Gold award for Bank of the Year-Asia category. It has been a labor of love and hardwork to build Kinara Capital and we remain motivated by our mission of transforming lives and livelihoods. Today, we are even further encouraged with the support and recognition by the IFC, World Bank Group, and the SME Finance Forum. We especially thank the OPIC team for nominating Kinara Capital.”

Kinara Capital won the distinction from a competitive pool of 144 international applicants. The company was recognized for innovating on financial inclusion techniques and thus impacting over half a million lives in India with income generation, new job creation, and job sustenance.

Approximately 90% of Kinara’s customers are new to business credit. In a 2019 report by IFC-Intellecap, the credit gap in India is valued at USD$240 billion where capital needs of more than 80% of SMEs are not served by traditional sources of formal lending. This is the ‘missing middle’ that Kinara Capital is effectively serving.

A panel of independent judges chose this year’s winners based on their Reach, Uniqueness and Innovation, Effectiveness and Impact, and Dynamism and Scalability.

The judges recognized Kinara’s credit risk management practice as a good combination of the old and the new – combining technology with personalized face-to-face interactions. Kinara Capital held a valuable distinction for building proprietary technology-enabled processes such as digitized underwriting, risk assessment, and the use of Artificial Intelligence (AI) in credit monitoring. The judges cited Kinara Capital’s ability to make longer-term loans to SMEs as a major breakthrough.

Attendees at this year’s Global SME Finance Forum in Amsterdam represented 80+ countries and over 250 companies.

Words From The Organizers

Paulo de Bolle, Senior Director, Global Industry, Financial Markets, Global Financial Institutions Group at the International Finance Corporation said: “The Global SME Finance Awards recognize and reward innovation in small business lending that can improve financing for SMEs, helping small businesses grow and create jobs. Innovations in lending technology and business models, can significantly reduce the cost of serving SMEs.”

Matthew Gamser, CEO of the SME Finance Forum said: “We hope the winners of the Global SME Finance Awards will inspire SME financiers all over the world to learn from their good practices. The Awards provide the winners an opportunity to showcase good practices on the global stage and foster learning amongst their peers.”

Natascha Beinker, Deputy Head of Division at the German Federal Ministry for Economic Cooperation and Development (BMZ) and Co-Chair of the SME Finance Subgroup of G20 GPFI said: “The Global SME Finance Awards put the spotlight on two key issues – responsible innovation and responsible financing, which are an integral part of the financial inclusion agenda. As demonstrated by this year’s and last year’s Awards winners, product innovations can lower costs and allow SME financiers to better serve previously underserved and unserved SMEs, particularly women-owned SMEs.”

 

SOURCE Kinara Capital

Fintech PR

WSPN and MathWallet Jointly Launch StableWallet, Pioneering AA Wallet for Web3

Published

on

wspn-and-mathwallet-jointly-launch-stablewallet,-pioneering-aa-wallet-for-web3

TORTOLA, British Virgin Islands, March 28, 2024 /PRNewswire/ — WSPN, a global digital payments leader providing transparent, fast, and efficient solutions leveraging distributed ledger technology, has partnered with leading Web3 wallet provider MathWallet to launch StableWallet – a groundbreaking new account abstraction (AA) wallet that represents a major advancement in the Web3 space. StableWallet provides enhanced security, convenience, and flexibility for managing digital assets across multiple blockchains.

“Through our partnership with MathWallet, we are proud to introduce StableWallet, leveraging pioneering AA technology to transform digital asset management,” said Raymond Yuan, Founder of WSPN. “StableWallet exemplifies our commitment to driving innovation in digital payments and the Web3 ecosystem.”

Account abstraction (AA) wallets represent a significant leap forward in the Web3 ecosystem, blurring the lines between traditional private key wallets and smart contract-based accounts. By integrating both functionalities, AA wallets enable users to define their wallets through programmable smart contracts, unlocking a realm of advanced features and customization options.

Leveraging the transformative power of Account Abstraction, StableWallet stands at the forefront of security innovation, offering unmatched protection through advanced programmable recovery mechanisms and robust multi-signature controls. Seamlessly blending security with convenience, StableWallet ensures a user-centric experience by automating gas fees, simplifying transactions, and providing limitless customization possibilities through deep integration of programmable smart contracts.

Beyond its pioneering security measures, StableWallet serves as a pivotal link between the Ethereum and Polygon ecosystems, facilitating effortless asset management across diverse chains through a unified cross-chain interface. At its debut, StableWallet boasts essential features such as native support for Ethereum and Polygon networks, flexibility in fee token options with WUSD and USDT, and the capacity for multi-chain crypto smart contract wallet functionalities.

“We are thrilled to partner with WSPN and jointly unveil StableWallet’s powerful capabilities,” said Eric, CTO of MathWallet. “By combining cutting-edge account abstraction technology with robust security features and cross-chain compatibility, StableWallet empowers users to explore the decentralized realm with unparalleled confidence.”

Looking ahead, StableWallet has an ambitious roadmap to roll out new capabilities that will further elevate the user experience. Upcoming features include daily free transfers, batch transactions with one-click execution, enterprise multi-signature smart wallets, and integration with collaboration platforms, etc. These additions, among others, will continuously expand StableWallet’s functionality to meet evolving user needs in the Web3 space.

Whether for a seasoned cryptocurrency enthusiast or a beginner to the blockchain world, StableWallet offers a powerful tool to revolutionize user experience of digital asset management. Stay tuned for upcoming feature releases and network expansions as WSPN and MathWallet continue to push the boundaries of Web3 technology.

About WSPN

WSPN is a global digital payments company that provides transparent, fast, and efficient digital payment solutions leveraging the latest technological advancements of Distributed Ledger Technology (“DLT”). We are dedicated to shaping seamless digital payment solutions for our global partners worldwide at the frontier of future digital payments and financial inclusion.

Worldwide USD (‘WUSD’), WSPN’s flagship USD stablecoin, is a fiat-collateralized stablecoin that is pegged to the U.S. Dollar at a 1:1 ratio. Dedicated to optimizing payment solutions for web3 users, WUSD empowers the real economy through secure, transparent, and licensed digital payments, spanning stablecoins, exchanges and cards, all geared for global expansion.

Learn more: www.wspn.io  | Twitter | LinkedIn 

About MathWallet

MathWallet is the Multichain Wallet for Web3 that enables token storage of over 150 chains including BTC, ETH, Polkadot, Cosmos, Filecoin, Solana, BNBChain, etc, supports cross-chain token bridges and multi-chain dApp store. Our investors include Fenbushi Capital, Binance Labs, Fundamental Labs, Multicoin Capital, NGC Ventures, Amber Group, 6Eagle Capital.

Visit mathwallet.org for more information.

Photo – https://mma.prnewswire.com/media/2373177/WSPN.jpg 
Logo – https://mma.prnewswire.com/media/2374095/4619577/Logo_Logo.jpg

Cision View original content:https://www.prnewswire.co.uk/news-releases/wspn-and-mathwallet-jointly-launch-stablewallet-pioneering-aa-wallet-for-web3-302102350.html

Continue Reading

Fintech PR

Announcement of change in the total number of votes in AB SKF

Published

on

announcement-of-change-in-the-total-number-of-votes-in-ab-skf

GOTHENBURG, Sweden, March 28, 2024 /PRNewswire/ — Due to a conversion of shares from Series A to Series B in accordance with AB SKF’s Articles of Association, the Company confirms the following.

As per 28 March 2024, the Company’s share capital amounts to SEK 1,138,377,670 and the total number of shares amounts to 29,286,933 shares of Series A and 426,064,135 shares of Series B. The number of votes in the Company amounts to 71,893,346.5.

AB SKF does not hold any own shares.

Aktiebolaget SKF
      (publ)

Information in this press release contains information that AB SKF is obliged to make public pursuant to the Financial Instruments Trading Act. The information was submitted for publication on 28 March 2024 at 08.00 CET.

CONTACT:

For further information, please contact:
PRESS: Carl Bjernstam, Head of Media Relations
tel: 46 31-337 2517; mobile: 46 722-201 893; e-mail: [email protected] 

INVESTOR RELATIONS: Sophie Arnius, Head of Investor Relations
tel: 46 31-337 8072; mobile: 46 705-908 072; [email protected]  

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/skf/r/announcement-of-change-in-the-total-number-of-votes-in-ab-skf,c3953982

The following files are available for download:

https://mb.cision.com/Main/637/3953982/2702083.pdf

20240328 Announcement of change in the total number of votes in AB SKF

 

View original content:https://www.prnewswire.co.uk/news-releases/announcement-of-change-in-the-total-number-of-votes-in-ab-skf-302102292.html

Continue Reading

Fintech PR

Tetragon Financial Group Limited February 2024 Monthly Factsheet

Published

on

tetragon-financial-group-limited-february-2024-monthly-factsheet

LONDON, March 28, 2024 /PRNewswire/ — Tetragon has released its Monthly Factsheet for February 2024.

–  Net Asset Value: $ 2,801m
–  Fully Diluted NAV Per Share: $30.93
–  Share Price (TFG NA): $9.60
–  Monthly NAV per share total return: 0.7%
–  Monthly Return on Equity: 0.8%
–  Most recent quarterly dividend: $0.11
–  Dividend yield: 4.6%

Please refer to important disclosures on page three of the Monthly Factsheet.

Please click below to access the Monthly Factsheet.

February 2024 Factsheet 

About Tetragon:

Tetragon is a Guernsey closed-ended investment company. Its non-voting shares are listed on Euronext in Amsterdam, a regulated market of Euronext Amsterdam N.V., and also traded on the Specialist Fund Segment of the Main Market of the London Stock Exchange. Our investment manager is Tetragon Financial Management LP. Find out more at www.tetragoninv.com.

Tetragon’s non-voting shares are subject to restrictions on ownership by U.S. persons and are not intended for European retail investors.

Please see: https://www.tetragoninv.com/shareholders/additional-information.

Tetragon Investor Relations:
Yuko Thomas
[email protected]

Press Inquiries:
Prosek Partners
[email protected]
U.K. +44 20 3890 9193
U.S. +1 212 279 3115

This release does not contain or constitute an offer to sell or a solicitation of an offer to purchase securities in the United States or any other jurisdiction. The securities of Tetragon have not been and will not be registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States or to U.S. persons unless they are registered under applicable law or exempt from registration. Tetragon does not intend to register any portion of its securities in the United States or to conduct a public offer of securities in the United States. In addition, Tetragon has not been and will not be registered under the U.S. Investment Company Act of 1940, and investors will not be entitled to the benefits of such Act. Tetragon is registered in the public register of the Netherlands Authority for the Financial Markets under Section 1:107 of the Financial Markets Supervision Act as a collective investment scheme from a designated country.    

 

View original content:https://www.prnewswire.co.uk/news-releases/tetragon-financial-group-limited-february-2024-monthly-factsheet-302101163.html

Continue Reading

Trending