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The Hashgraph Association and Hylobiz – a Vayana subsidiary – launch debt-based financial products on Hedera DLT network

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Hylobiz’s B2B lending platform tech built upon Hedera’s decentralized network focused on enabling streamlined digital access to low-cost financing for SMBs globally. 

HYDERABAD, India, May 9, 2024 /PRNewswire/ — The Hashgraph Association (THA), the Swiss-based organization at the forefront of global digital enablement, has partnered with Hylobiz, a Vayana group company, for the launch of decentralized debt-based financial products built on the Hedera DLT network. Leveraging Hedera’s decentralized, open-source public ledger, Hylobiz’s software as a service (SaaS) B2B lending platform enables easier access to affordable financing for small and medium-sized businesses (SMBs) globally.

With 65 million firms, or 40% of formal micro, small, and medium enterprises in developing countries, facing unmet financing needs of $5.2 trillion every year, Hylobiz is addressing this financing gap through a blockchain-powered solution. The collaboration with THA will expand the on-chain availability and adoption of debt-based financial products in traditional and capital markets, thereby giving the real-world asset (RWA) segment access to a larger pool of liquidity.

Using the Hedera decentralized public network, Hylobiz is providing an infrastructure for SMBs to help reduce the overall cost of servicing loans, facilitate easier movement of capital from a surplus location in the world to a deficit one, and use features of programmable money to bring efficiencies. The offering includes access to Vayana Debt Platform (VDP), a securities & loan tokenization module available off-the-shelf for lending businesses to handle digital currency-based transactions and deploy on Hedera immediately. 

Kamal Youssefi, President of The Hashgraph Association, stated, “We share the same vision of Hylobiz and Vayana in creating an ecosystem where digital finance is embedded in a transaction invisibly, securely, and transparently. We are proud to be partnering with the Vayana group and believe that the Hedera DLT network is essential for the growth of SMBs in emerging markets, evening out the playing field and allowing them to compete on equal footing with the big global industry players.”

Manish Gadia, Head Emerging Tech Platforms (ETP) at Vayana Group, commented, “Hylobiz’s partnership with THA fits within Vayana’s mandate to serve the B2B debt segment digitally with a special focus on SMBs, ensuring the lowest affordable landing cost. Vayana Group has proven expertise in Web2 and through partnerships such as this we are extending our capabilities of creating world-class financing infrastructure in Web3 as well. Usage of blockchain and smart contracts will help usher in a new age of finance and by democratizing access to this new realm, the Vayana ecosystem is ensuring that SMBs aren’t left behind.”

About Hylobiz – A Vayana Group Company

Hylobiz – A Vayana Group Company builds solutions targeted primarily to small businesses and financial services. Hylobiz’s digital-first solution is a unified FinTech platform that solves cash flow management in a way that helps businesses to manage their accounts receivables and accounts payables with greater ease.

To Facilitate growth of deserving MSMEs/ Micro Entrepreneurs, alongside other incidental areas where the working capital credit gap remains globally, Vayana Debt Platform (“VDP”) is built as a comprehensive blockchain-based loan operating system for digital currencies/deposit tokens/CBDC/Fiat. It enables regulated/alternate lenders and other credit investors to lend to businesses on the Blockchain, harnessing the power of smart contracts to fully digitize their lending operations.

Parent company Vayana is India’s Largest Trade Credit Infrastructure, specializing in supply chain finance & other B2B trade credit solutions. Vayana’s mission is to democratize the access of timely and affordable trade credit to the smallest entity in the supply chain. Headquartered in India, Vayana has partnered with 20+ banks, serving 3000 supply chains. Vayana offers a range of solutions via its trade finance infrastructure to help enterprises optimize every day B2B Trade. Visit www.vayana.com

About The Hashgraph Association

The Hashgraph Association is at the forefront of the digital enablement and empowerment of organizations through the broad adoption of Hedera-powered enterprise-grade solutions and decentralized applications, including funding training, innovation, and venture building programs globally. As a non-profit organization headquartered in Switzerland, The Hashgraph Association supports and funds innovation, research, and development that enables economic inclusion and a digital future for all, with a positive environmental, social, and governance (ESG) impact. For further information about The Hashgraph Association, visit www.hashgraph-association.com.

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UK challenger GB Bank lands £85m investment

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GB Bank, a specialist property finance bank based in Middlesbrough, UK, has secured an £85 million investment from new backer Hera Holdings and existing shareholder the Teesside Pension Fund.

Over the next 12 months, Hera Holdings is investing an initial £40 million into the bank, with an additional £40 million earmarked for investment throughout 2025 and 2026.

Meanwhile, the Teesside Pension Fund, which serves as the Local Government Pension Scheme for local authority employees in the Teesside region, is contributing an additional £5 million to the funding round.

Founded in 2017, GB Bank provides financing solutions for commercial and residential property developments in underserved areas of the UK.

The bank, which secured its full banking licence in the summer of 2022, claims to have approved “more than £80 million in loans to support over 100 property projects in locations from Northumberland to the south coast”, while also attracting “over £300 million in deposits from savers” for its fixed-term and instant access accounts.

GB Bank anticipates that the cash injection will drive “extensive growth” for the company, with plans to expand its customer base to include portfolio landlords, expatriates, and foreign nationals.

Specifically, the challenger bank states that the investment will enhance its lending capabilities, allowing it to offer funding of up to £10 million and up to 80% Loan To Value.

Moreover, GB Bank expects that the expansion will boost its capacity for commercial owner-occupier and investment mortgages as well as for its commercial and residential bridging solutions.

The bank projects that the new investment will allow it to increase its lending to £500 million over the next 12 months. As part of this growth, it intends to expand its team and infrastructure, with plans to double its current workforce this year.

Earlier this year, the company appointed industry veteran Mark Sismey-Durrant as its new chair.

Source: fintechfutures.com

The post UK challenger GB Bank lands £85m investment appeared first on HIPTHER Alerts.

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Teal secures $8M seed funding for groundbreaking accounting solution

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Teal has announced a significant milestone in its journey to transform SMB accounting with the closure of an $8 million seed funding round.

According to TechFundingNews, the company, which focuses on providing accounting infrastructure for Vertical SaaS businesses, aims to address the critical need for integrated financial solutions within various platforms.

Founded by industry veterans Ian Crosby and Adam Saint, Teal stands out in the FinTech landscape for its unique approach to accounting services. Leveraging their expertise from founding Bench Accounting and working at Shopify, Crosby and Saint have developed a platform that empowers Vertical SaaS businesses to offer customised accounting suites to their SMB customers.

One of the key challenges faced by SMBs is the lack of seamless accounting solutions integrated into their core business platforms. Teal aims to bridge this gap by equipping companies with the necessary APIs and tools to build their own accounting offerings. This enables SMBs to access crucial insights such as real-time cash flow, per-product profitability, and streamlined tax filing processes.

Teal’s comprehensive suite of out-of-the-box tools enables Vertical SaaS companies to launch their accounting platforms swiftly, often in as little as four weeks. These tools include fully functioning app code repositories and seamless data integrations with external sources like Plaid, enhancing the overall user experience for SMBs.

According to Ian Crosby, Co-Founder and CEO of Teal, the company’s vision is to become the “Stripe for accounting,” providing the foundational infrastructure for Vertical SaaS companies to embed accounting features seamlessly. By integrating accounting software directly into their platforms, businesses can enhance customer engagement and drive adoption of financial services features.

The significance of Teal’s innovative approach has not gone unnoticed in the investment landscape. Torch Capital, a leading investor in tools and platforms for SMBs, led the recent $8 million seed funding round. Partner Katie Reiner expressed enthusiasm for Teal’s mission to revolutionize the SMB accounting space, citing the dire need for intuitive and streamlined accounting tools.

In an era where embedded finance is gaining traction, Teal’s commitment to offering tailored accounting solutions signifies a promising step towards empowering SMBs with the financial tools they need to thrive in today’s competitive landscape.

Source: fintech.global

The post Teal secures $8M seed funding for groundbreaking accounting solution appeared first on HIPTHER Alerts.

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Digital China’s Guo Wei Shares ‘China’s Sample’ of Global Digital Innovation with London Business School

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LONDON, May 22, 2024 /PRNewswire/ — On May 21st, at the invitation of London Business School (LBS), Guo Wei, Chairman of Digital China, participated in the esteemed “Managing the Digital Organization” lecture, engaging with a cohort of prospective business leaders. Focusing on the trending topics of ‘Artificial Intelligence’ and ‘Digital Transformation’, he imparted the digital philosophy and practices of Chinese enterprises amidst the digital civilization era.

Digital China, a prominent player in China’s digital economy, has harnessed over two decades of deep involvement in the nation’s information industry to embrace the power of digitization. This has culminated in what Guo Wei refers to as ‘China’s Vibrant Blueprint for Digital Transformation’, carving a distinctive path of digital metamorphosis. Notably, Digital China’s transformation narrative has been incorporated into LBS’s esteemed case library, underscoring its significance as a teaching instrument.

In his lecture, Guo Wei emphasized that the digital economy now constitutes the backbone of supply, with digital technology emerging as the paramount catalyst for economic expansion. The hastening pace of global digitization propels us into an epoch of digital civilization. For multinational corporations, digital strategies have escalated to the status of corporate strategy, and the amassing of data assets constitutes the pivotal lever for business innovation. Amidst this evolution, AI-fueled digital-cloud integration signifies a disruptive technological innovation, poised to invigorate the global landscape. Digital China feels honored to reprise its role in elite international business school case repositories, thereby contributing insights to academia. This recognition signifies that Chinese enterprises’ digital and AI acumen resonates globally, exemplifying world-class practices.

Professor Julian Birkinshaw, Vice Dean and Professor of Strategy and Entrepreneurship at LBS, remarked, “As a global institution, we constantly seek out exemplary cases worldwide. Digital China was chosen not solely due to its prominence in China but also its sophisticated implementation of digital technologies, demonstrating adaptability and offering invaluable insights to our students about the contemporary business milieu. The story of Digital China encapsulates Mr. Guo Wei’s philosophy – digitization transcends being a mere process; it embodies the existential rationale for companies. This philosophy underpins our decision to feature Digital China in our case studies.”

Photo – https://mma.prnewswire.com/media/2419014/Digital_China_s_Guo_Wei_Professor_Julian_Birkinshaw.jpg

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