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Dripos Secures $11 Million Investment to Transform Coffee Shop Management
Dripos, a pioneering player in the FinTech realm catering specifically to coffee shops, has achieved a significant financial milestone by closing an $11 million Series A funding round.
Base10 Partners, a renowned venture capital firm, took the lead in spearheading this investment round.
Dripos has established itself as a standout entity in the FinTech landscape, offering a robust software solution tailored to streamline the intricate operations of coffee shops. Its integrated platform facilitates a wide array of functions, including point-of-sale (POS) systems, mobile payment processing, and comprehensive workforce management.
The freshly secured funds are earmarked for further technological advancements and expansion efforts in the market. Dripos aims to solidify its position in the coffee shop industry by enhancing its current services and venturing into new markets. This strategic allocation of capital underscores Dripos’ unwavering dedication to innovation and its core mission of simplifying business operations for coffee shop owners nationwide.
Dripos has demonstrated remarkable growth and garnered strong market adoption. Over the past year alone, the number of coffee shop locations leveraging Dripos’ services has surged by an impressive 400%, with a presence now spanning 46 states and processing hundreds of millions in transactions. This expansion underscores the platform’s efficacy in meeting the unique needs of its clientele by offering a comprehensive suite of tools that cater to every aspect of coffee shop operations.
Jack Pawlik, Co-founder & Co-CEO of Dripos, emphasized the company’s transformative impact, stating, “Dripos is not merely a product but a revolution in how coffee shops operate. We’re replacing outdated multi-software systems with a single, efficient platform that enhances overall productivity and customer satisfaction.”
Dripos has previously attracted attention from prominent investors within the FinTech and coffee shop sectors, including Michael Siebel of Y Combinator and Shyam Rao, founder of Punchh.
Caroline Broder, Principal at Base10 Partners, highlighted the strategic alignment of investing in Dripos with their focus on automating the real economy. She emphasized that the platform not only reduces operational burdens for coffee shop owners but also enhances their capacity to provide exceptional service.
Source: fintech.global
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US-based wealthtech startup FutureMoney has introduced its micro-investing platform with the aim of broadening access to investing, as stated by company co-founder and CEO, Philip Barrar.
FutureMoney launches its micro-investing platform, offering parents a comprehensive investment account for their children, featuring automated deposits, tax optimization, and fully-managed portfolios.
The flagship offering of FutureMoney is its tax-advantaged Junior Roth IRA account, utilizing 529 plans that can be converted to a Roth IRA account after 15 years. This account allows family members to contribute up to $35,000 before a child reaches 18, benefiting from tax-free growth for their retirement savings.
In contrast to a typical custodial Roth IRA, FutureMoney claims that its service does not have requirements for earned income or income limits, thereby expanding investment opportunities for everyday families to build generational wealth.
Dave Fortin, CFA, co-founder of FutureMoney, highlights the potential long-term benefits of investing, stating, “If a parent invests just $10 a week from their child’s birth to age 18 and then leaves it to grow for 50 years, their child could have a $1 million nest egg, assuming 8% compounding annual returns.”
Source: fintechfutures.com
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Mason Capital Announces Tender Offer for Any and All of (i) the Outstanding American Depositary Shares (the “ADSs”), each representing 4,000 Ordinary Shares, Nominal Value 0.01 DKK of Forward Pharma A/S (the “Ordinary Shares”) for a Purchase Price of $437.00 per ADS and (ii) the Outstanding Ordinary Shares for a Purchase Price of 0.76 DKK per Ordinary Share
NEW YORK, May 15, 2024 /PRNewswire/ — Mason Capital Management LLC, a Delaware limited liability company (“Mason Capital”), announced today that it has commenced a tender offer (the “Tender Offer”) for any and all the outstanding ADSs and Ordinary Shares in Forward Pharma A/S (the “Company”) for a purchase price of $437.00 per ADS or 0.76 DKK per Ordinary Share.
The Tender Offer is scheduled to expire at 5:00 p.m., Eastern Standard Time, on June 12, 2024 (unless extended or earlier terminated with respect to a Tender Offer, the “Expiration Date”). The Tender Offer is being made pursuant to an Offer to Purchase dated May 14, 2024 (the “Offer to Purchase”) and, with respect to the ADSs, a related Letter of Transmittal, dated May 14, 2024 or, with respect to the Ordinary Shares, a related form of Share Transfer Note, dated May 14, 2024 (together, the “Tender Offer Materials”), which set forth a more detailed description of the Tender Offer, including the terms and conditions of the Tender Offer. Holders of ADSs and Ordinary Shares are urged to carefully read the Tender Offer Materials before making any decisions with respect to the Tender Offer. Copies of the Tender Offer Materials will be provided to Holders of ADSs or Ordinary Shares upon request by contacting MacKenzie Partners at 800-322-2885 or [email protected].
Subject to all conditions to the Tender Offer having been satisfied or waived by Mason Capital, Mason Capital will purchase ADSs and Ordinary Shares that have been validly tendered or purchased by the Expiration Date no later than promptly following the Expiration Date. ADSs and Ordinary Shares tendered into or purchased pursuant to the Tender Offer will not be subject to withdrawal from the Tender Offer and Mason Capital may, at its option, purchase ADSs or Ordinary Shares validly tendered on one or more dates at any time upon the satisfaction or waiver of all the conditions to the Tender Offer described in the Tender Offer Materials.
Mason Capital is making the Tender Offer only by, and pursuant to, the terms of the Tender Offer Materials. Mason Capital does not make any recommendations as to whether holders of ADSs or Ordinary Shares should tender or refrain from tendering their ADSs or Ordinary Shares. Holders must make their own decision as to whether to participate in the Tender Offer and, if so, the amount of ADSs or Ordinary Shares to tender or purchase. The Tender Offer is not being made to holders of ADSs or Ordinary Shares in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction.
This press release does not constitute an offer to purchase securities or a solicitation of an offer to sell any securities or an offer to sell or the solicitation of an offer to purchase any new securities, nor does it constitute an offer or solicitation in any jurisdiction in which such offer or solicitation is unlawful. Capitalized terms used in this press release but not otherwise defined herein have the meanings assigned to them in the Tender Offer Materials.
About Mason Capital
Mason Capital is a global event driven hedge fund founded in July 2000 by Ken Garschina and Mike Martino. Assets under management are $1.37 billion as of December 31, 2023. Mason Capital has an absolute return focus and seeks to generate consistent positive returns in any market environment.
Digital payments are poised to surpass cash transactions in the Asia Pacific region by 2028, according to a report by Euromonitor International.
In 2023, Asia Pacific led global digital payment transactions with a value of US$ 29,063 billion, constituting 52% of the worldwide total.
Credit and debit cards are expected to drive most new sales in the region between 2023 and 2028, with credit cards forecasted to have a slightly stronger compound annual growth rate (CAGR) than electronic direct transactions.
By 2028, personal electronic direct payments are projected to outstrip personal cash transactions.
Card Payments Surge Across APAC
Debit cards remain the dominant payment method in China, supported by a government initiative to promote bank account access in rural areas.
In India, credit card transactions saw the highest growth in the region, attributed to the adoption of the Unified Payments Interface (UPI), which offers faster, more convenient, and secure transactions compared to wallets.
Cash transactions are expected to continue declining, with credit cards likely to surpass debit cards in transaction value by 2028, despite debit cards being more widely circulated.
In East Asia, Japan experienced significant growth in personal card payment transactions, driven by the ‘Cashless Vision’ initiative. Debit card payments saw a CAGR increase of 19% from 2018 to 2023.
Paper transactions have declined rapidly in Japan and South Korea due to the digital shift to electronic and card payments. South Korea saw the highest percentage decline in paper transactions at -39% from 2018 to 2023, while mobile proximity payments grew by 29%.
Digital Wallets Gain Popularity
Digital wallets continue to gain traction in the region, particularly in emerging markets like Thailand, Indonesia, China, and India.
In China, nearly 70% of consumers use WeChat Pay daily, while over half of Indian consumers use PhonePe daily.
Fastest-Growing Markets
Indonesia emerges as the fastest-growing market for personal payment transactions, driven by smartphone adoption, increased usage of digital wallets, mobile banking, and the Quick Response Code Indonesia Standard (QRIS) for cashless payments.
In developed markets like Singapore and Hong Kong, there is still potential for growth, with mobile proximity payments exhibiting robust CAGR figures during the 2018-2023 period.
David Zhang, Insights Manager for Payments and Lending at Euromonitor International, highlighted the role of embedded finance partnerships between incumbent financial organizations and fintechs in driving digital transformation. Additionally, government initiatives such as payment standardizations and subsidies have contributed to greater financial inclusion, payment diversification, and the growth of cashless payments across the region.
Source: fintechnews.sg
The post Euromonitor: Asia Pacific Digital Payments to Overtake Cash by 2028 appeared first on HIPTHER Alerts.
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