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HANDSHAKE SPEAKEASY IN MEXICO CITY NAMED AS THE BEST BAR IN NORTH AMERICA AS RANKING OF NORTH AMERICA’S 50 BEST BARS IS REVEALED AT THIRD ANNUAL AWARDS CEREMONY

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  • Handshake Speakeasy, Mexico City, is crowned No.1 and The Best Bar in Mexico, sponsored by Perrier
  • This year’s list features 26 U.S. bars, 15 from Mexico, 7 hailing from Canada, and 2 based in the Caribbean
  • Civil Liberties, Toronto, at No.21, is named The Best Bar in Canada, sponsored by Naked Malt, for the third year in a row
  • La Factoría, Puerto Rico, at No.18, earns The Best Bar in the Caribbean, sponsored by Amaro Lucano
  • Claudia Cabrera of female-led bar Kaito del Valle (No.28) in Mexico City wins the Roku Industry Icon Award
  • Simpl Things, Toronto, wins the Campari One To Watch Award
  • Library by the Sea, Grand Cayman, No.35, is awarded London Essence Best New Opening Award
  • True Laurel, San Francisco, No.30, earns Ketel One Sustainable Bar Award
  • Meadowlark, Chicago, No.32, wins the Siete Misterios Best Cocktail Menu Award
  • Martiny’s, New York, No.4, is the Nikka Highest Climber Award winner
  • Avondale Bowl, Chicago, earns Bareksten Best Bar Design Award
  • Superbueno, New York, No.2, wins Disaronno Highest New Entry Award

SAN MIGUEL DE ALLENDE, Mexico, April 24, 2024 /PRNewswire/ — The list of North America’s 50 Best Bars, sponsored by Perrier, was announced at the live awards ceremony on April 23, 2024 at Rosewood San Miguel de Allende, Mexico. The annual ranking features bars from across North America, including the USA, Canada, Mexico and the Caribbean.

Mexico City’s Handshake Speakeasy is crowned No.1 as The Best Bar in North America and The Best Bar in Mexico, sponsored by Perrier. New York City’s Superbueno is ranked at No.2 and claims the title of Disaronno Highest New Entry as well as The Best Bar in Northeast USA 2024, sponsored by Disaronno. New York City’s Overstory follows at No.3.

Handshake Speakeasy makes history as the first bar in Mexico to be named No.1 on a North America’s 50 Best Bars list. The hidden bar is difficult to find, but those who discover the Mexico City lounge are rewarded with an unforgettable, high-end cocktail experience.

Toronto’s Civil Liberties, No.21, wins the title of The Best Bar in Canada, sponsored by Naked Malt alongside Puerto Rico’s La Factoría, at No.18, recognized as The Best Bar in the Caribbean, sponsored by Amaro Lucano

The full list can be viewed here.

Media Centre:

https://mediacentre.theworlds50best.com/

Photo – https://mma.prnewswire.com/media/2395880/NA_50_Best_Bars_2024_No_1.jpg
PDF – https://mma.prnewswire.com/media/2395288/50_Best_Bars_2024_PDF.pdf
Logo – https://mma.prnewswire.com/media/2386022/NA_50_Best_Bars_2024_Logo.jpg

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PB Fintech slips 2% after over 8 million shares change hands via block deal

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PB Fintech witnessed a 2% decline in its stock price, reaching Rs 1,313.65 per share, as approximately 8.4 million shares, equivalent to 1.86% of outstanding shares, were exchanged via block deals on the exchanges. By 9:44 AM, the volume surged to 9 million shares collectively on both exchanges, while PB Fintech’s stock price dipped by 0.56% to Rs 1,333 apiece, contrasting with a 0.22% decline in the S&P BSE Sensex.

Executive Share Sales

On May 16, PB Fintech announced that its Chairman and CEO, Yashish Dahiya, alongside Vice Chairman and Whole-time Director, Alok Bansal, intended to sell partial stakes in the company. Dahiya plans to sell up to 5.4 million equity shares, while Bansal aims to divest up to 2.97 million equity shares. Proceeds from the sale will be allocated primarily towards taxes on current and future ESOP exercises.

Following the sale, Dahiya will retain a 4.83% stake, while Bansal will hold a 1.63% stake in PB Fintech on a fully diluted basis. The company clarified that no further share sales are planned by the duo for at least one year.

Company Profile and Financial Performance

PB Fintech is actively involved in providing integrated online marketing and IT consulting services, primarily for the financial services industry, including insurance. The company operates Policybazaar, India’s largest digital insurance marketplace, and Paisabazaar, which offers lending-related services.

In Q4FY24, PB Fintech reported a net profit of Rs 60.19 crore, marking a significant improvement from the Rs 9.34 crore loss in the corresponding period of the previous year. The company’s revenue from operations surged by 25.4% year-on-year to Rs 1,090 crore in Q4 FY24, compared to Rs 869 crore in Q4 FY23.

For the entire fiscal year, PB Fintech’s net profit stood at Rs 64 crore, contrasting with the Rs 488 crore loss in FY23. The company’s consolidated operating revenue rose by 34% year-on-year to Rs 3,437 crore.

Analyst Perspectives

Analysts at Nuvama Institutional Equities raised their FY25/26 Ebitda estimates significantly to accommodate higher growth and improved profitability. However, they maintained a ‘Reduce’ rating on the stock due to its rich valuation, revising their target price to Rs 1,160.

Keynote Capital downgraded PB Fintech’s stock to ‘Reduce’ from ‘Buy’, citing that most of the positives appear to be priced in. Despite acknowledging the company’s positive momentum and profitability, the brokerage believes that current market expectations may be overly optimistic.

PB Fintech continues to navigate its growth trajectory amidst strategic initiatives and evolving market dynamics, as reflected by varying analyst viewpoints.

Source: business-standard.com

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US fintech Yendo secures $165m in mix of debt financing and equity

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Yendo, a prominent fintech company based in the United States, has successfully secured $165 million in funding through a combination of debt financing and equity investment.

Funding Structure

The funding round comprised a mix of debt financing and equity infusion, highlighting investors’ confidence in Yendo’s growth prospects and business model. This significant financial injection underscores Yendo’s position as a key player in the fintech sector.

Investment Highlights

Yendo’s ability to attract such substantial investment underscores its appeal to investors. The company’s innovative approach and strategic positioning within the fintech landscape have positioned it for accelerated growth and market expansion.

Utilization of Funds

The newly raised capital will likely be deployed to fuel Yendo’s expansion initiatives, including product development, market expansion, and strategic acquisitions. The infusion of funds will provide Yendo with the financial resources needed to capitalize on emerging opportunities and consolidate its market position.

Market Impact

Yendo’s successful funding round is expected to have a positive impact on the broader fintech market, signaling investor confidence in the sector’s growth potential. The influx of capital into Yendo reflects the ongoing trend of significant investment activity within the fintech industry, driven by increasing demand for innovative financial solutions.

Source: fintechfutures.com

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Commerce Bank goes live with instant payment service FedNow through Temenos Payments Hub

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Commerce Bank, headquartered in Kansas City, USA, has recently activated the FedNow instant payments service as part of its ongoing modernization efforts.

Collaboration with Temenos

Commerce Bank has partnered with Temenos, a leading Swiss vendor, to enhance its real-time payment capabilities. This collaboration builds upon Commerce Bank’s previous deployment of Temenos’ core banking platform in 2022 and its adoption of the Infinity loan origination solution earlier this year.

Utilization of Temenos Payments Hub

Commerce Bank has opted for the Temenos Payments Hub to integrate the FedNow service seamlessly. According to Temenos, this choice aims to amalgamate advanced banking products with cutting-edge delivery methods.

Insight from David Roller

David Roller, CIO of Commerce Bank, views this selection as a strategic step in their modernization journey. He emphasizes the bank’s commitment to meeting the evolving expectations of its customers by leveraging the capabilities offered by the Temenos platform.

Features of the Platform

The Temenos Payments Hub, delivered via Software-as-a-Service (SaaS), offers a comprehensive suite of payment tools and frameworks. These include features like straight-through processing, automated exception handling, cloud security measures, intelligent routing, and customizable workflows.

Leveraging the US Model Bank

In addition to the Temenos Payments Hub, Commerce Bank has also leveraged Temenos’ US Model Bank. This collection of pre-configured banking processes is tailored to address the specific requirements of the US market, further enhancing Commerce Bank’s operational efficiency and customer service.

Source: fintechfutures.com

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