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Newly Founded Gynecology Practice Streamlines Patient Bookings and Patient Engagement with eClinicalWorks EHR and healow Solutions

eClinicalWorks

eClinicalWorks ®, the largest ambulatory cloud EHR, today announced the recent successes of Seashore MD — a startup gynecology practice in Manalapan, NJ — leveraging Project Kickstart and healow ® Open Access, the online appointment booking solution. The practice is bringing a multitude of leading health IT solutions to the area and the services are kickstarting the practice's growth. Seashore MD, despite being a new practice, is seeing a surge in appointment booking, with 90% of patients booking appointments through Open Access. In January 2023, the practice had more than 400 appointments booked through Open Access. Open Access allows patients to simply schedule or reschedule through a link on the practice’s website or through their patient portal. With healow, Seashore MD optimized its website for increased accessibility, which is improving patient acquisition and familiarity within the community — two vital aspects of success for a new practice. “Our biggest concern was how we would build our patient network and start booking appointments,” said Adi Smolinsky, MD of SeashoreMD. “With eClinicalWorks EHR and healow, we were able to build out our website and provide patients with a streamlined scheduling experience. New patients can view, schedule, and book an appointment seamlessly with healow Open Access. That’s where Open Access has helped like magic.” In addition to healow solutions, Seashore has access to many leading health IT solutions through Project Kickstart, including: Messenger, used to improve communication and empower patients in their healthcare. PRISMA, the industry’s first health information search engine. With PRISMA, the practice can access and search relevant patient data from hospitals, urgent care centers, primary care providers, specialties, and more. This information is collated into a readable, searchable table or grid view. Scribe ®, an AI-driven speech-to-text voice dictation software, allows for real-time comprehensive notetaking, helping physicians save time to focus on patient encounters. Learn more about Seashore MD’s experience here. About Seashore MD Seashore MD practice was established to address general gynecological care with focus on perimenopausal – menopausal years. Its primary doctor, Dr Smolinsky, is a dedicated and compassionate obstetrician and gynecologist with 20 years of clinical and surgical experience in the field. She has been board certified since 2009, accredited by the American Board of Obstetrics and Gynecology as well as the American College of Obstetrics and Gynecology. For more information, visit seashoremd.com, or watch its recent customer success video. About eClinicalWorks eClinicalWorks was founded in 1999 to help digitize paper charts for ambulatory practices. Today, eClinicalWorks leads the nation in innovation with cloud-based solutions for Electronic Health Records and Practice Management. In addition, we help ambulatory practices, specialists, health centers, urgent care facilities, and hospital systems manage their revenue cycle, patient relationships, and Population Health initiatives. More than 150,000 providers and nearly 1 million medical professionals rely upon the power and scalability of the eCW Cloud for flexible clinical documentation, better front-office workflows, and more efficient billing driven by Robotic Process Automation. We combine innovation, leading-edge technology, and a commitment to patient safety to enable practices to grow and thrive amid the challenges of 21st-century healthcare. For more information, visit www.eclinicalworks.com, follow us on Facebook and Twitter, or call (866) 888-6929. About healow healow ® is a comprehensive, EHR-agnostic, cloud-based platform for patients, practices, payers, hospitals, and health systems. healow provides Patient Relationship Management, clinical and payer insights, and state-of-the-art interoperability solutions. The PRISMA health information search engine gathers patient records from other EHRs and helps providers focus on the most clinically relevant information at the point of care. healow’s Population Health Management tools, including Remote Patient Monitoring, provide real-time data to deepen understanding of patient populations. And healow Insights automates the bidirectional exchange of data between health plans and providers to improve scores on quality measures, help control costs, and promote better medical outcomes. Learn more at plus.healow.com. ### Contact Details eClinicalWorks Bhakti Shah +1 508-330-6935 Bhakti.Shah@eclinicalworks.com Company Website https://www.eclinicalworks.com/

September 12, 2023 10:00 AM Eastern Daylight Time

Ambow Education’s (NYSE: AMBO) Innovative HybriU AI Digital Education Solution Showcases The Potential Of AI To Transform Education

Ambow Education Holding

By Faith Ashmore, Benzinga COVID-19 brought massive changes to the educational system globally. What was once thought to be largely infeasible has now become desirable and commonplace. Completely digital or hybrid learning experiences are now being utilized from K12 to higher education. However, there is limited infrastructure currently in place to support the dilemmas that arise from digital and remote learning. Put simply, companies like Zoom (NASDAQ: ZM) seem ill-equipped to handle all the nuances that play a role in online learning. That’s why artificial intelligence (AI) platforms and integrations are so integral to the future of the education sector. Ambow Education Holdings Ltd. (NYSE: AMBO) is leading the charge in integrating AI technology into the educational sector. Their ground-breaking solution, known as HybriU, is an advanced digital education total solution designed to empower students and bridge the gap between academia and industry. With the help of cutting-edge connective technology, HybriU aims to shatter traditional limitations in languages, regions, academia and industry – providing a seamless and immersive learning experience both online and offline. Ambow is a technology-driven educational company that primarily operates in the United States. Their latest offering, the HybriU AI digital education solution, is powered by the groundbreaking OOOK technology and is a patented solution that aims to modernize and enhance educational and workforce training for students. By integrating this powerful technology, Ambow aims to provide students with comprehensive and up-to-date resources, equipping them with the skills needed to thrive in today's rapidly evolving world. It is clear that the pandemic has significantly impacted the education system and teachers as much as students, bringing virtual elements to the classroom. With the need for hybrid education and technology integration, teachers have been burdened with additional responsibilities. Without proper maintenance and understanding, as well as functional platforms, teachers find themselves overwhelmed with technological demands, often taking away from their primary role of teaching. The implementation of AI technology, such as the HybriU digital AI classroom solution, can alleviate these problems. HybriU enables teachers to teach in a natural and easy manner, similar to a traditional classroom setting. The HybriU AI digital classroom is equipped with a student and teacher-tracking camera to ensure that a virtual student is not missing any important information or demonstrations. There are also mics throughout the classroom to pick up student and teacher statements, as well as a podium mic. All of this helps support seamless learning so no student is distracted by poor quality or unable to hear valuable information from a teacher or peers. HybriU’s utilization of OOOK technology enables the creation of personalized content that caters to diverse student populations. A shining example of HybriU's commitment to inclusion is its live subtitle feature and AI-generated voiceover, which allow students to access content in their native language. This feature is a game changer for those in virtual or hybrid learning environments, where language barriers can present significant difficulties. The technology offers benefits beyond inclusivity – students no longer need to dedicate time to taking notes as the AI will take care of that for them. Students can further engage in the learning experience by tagging and commenting on the AI-generated transcript, which is efficiently organized using an AI-powered indexing and tagging system. The tagging system also allows for efficient tracking of students’ progress and areas they may need additional support. These comments provide teachers with real-time feedback that can help with enhancing course materials and teaching style, creating an optimal learning atmosphere for all students. HybriU AI also offers unique features like 3D LED walls, which allow students to view complex models precisely and accurately. This is incredibly useful for disciplines like biology and medicine. Some classrooms also offer screens where students are reflected so the in-person teacher does not miss out on valuable interaction. For students who are being taught by remote teachers, there are O-Screens that offer lifelike, full-body views of the teacher. The online education sector is projected to grow from its 2022 value of $192 billion to $602 billion by 2030 at a compound annual growth rate (CAGR) of 17.2% over 2022-2030. The advantages offered by HybriU which are specifically designed to address this new education paradigm of hybrid learning potentially place Ambow Education in the right place at the right time to be a driving force in the industry and propel online learning experiences into the future. To sign up for a free demo of HybriU, visit http://www.hybriU.com or www.ambow.com. Ambow Education Holding Ltd. is a leading cross-border career educational and technology service provider, offering high-quality, individualized services and products. With its extensive network of regional service hubs complemented by a dynamic proprietary learning platform and distributors, Ambow provides its services and products to students in China and United States of America. This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice. Contact Details Kevin Derrivan kderrivan@amboweducation.com Company Website https://www.ambow.com/

September 12, 2023 09:00 AM Eastern Daylight Time

Wallabing Is The Airbnb Of RVs Without The High Fees – And It’s Already Raised Over $55,000 On Wefunder

Benzinga

By Rachael Green, Benzinga Learn more about Wallabing’s current crowdfunding raise and how to invest here Wallabing is a peer-to-peer RV rental platform where owners make more, and renters pay less. That’s the company motto and the overarching goal of the startup who is entering the $820 million RV rental market. As its platform continues to grow, it’s launched a Wefunder campaign to raise additional capital while giving investors a chance to be part of that growth. Wallabing Offers Low-Cost RV Travel To Renters And Lets Owners Turn Unused RVs Into Passive Income The average RV owner spends between 28 and 35 days each year using their RV. That means their RV is sitting unused for over 330 days out of the year. Meanwhile, 44% of people who go RVing don’t own their own RV. They prefer to rent – often because it’s too expensive to justify buying a big-ticket asset that they will only use roughly one month out of the year. That’s where Wallabing comes in. As the Airbnb of RVs, it gives owners a way to earn extra cash on their unused RV during those 330 or so days each year that they aren’t using it. And for renters, it’s a safe, low-cost way to find the perfect RV for their next trip. For renters, the platform provides a low-cost way to get on the road and explore the outdoors without the high cost of RV ownership. Wallabing also adds 24/7 roadside assistance, mobile check-in/checkout, and comprehensive insurance. For owners, it’s free to list on Wallabing and free to rent out their RVs. All renters go through a driving record check and are required to have Wallabing’s insurance that will cover the RV. Making the platform fee-free for owners is great for those renting out their RVs and lowers the barrier of listing the RV in the first place. That could give Wallabing a competitive edge when scaling the number of listings on the site. “I found that most of the companies, if not all, would charge an owner to list their RV, whether it was 3% up to 25%,” said Wallabing CEO Jason Carlson in a recent interview on RV Out West. Owners who would otherwise be interested in renting out their RV might be less willing to risk paying a listing fee or might decide their take-home profit after the platform’s cut just isn’t worth it. Its low-fee model could also give it an advantage in attracting renters. Those same platforms that charge fees to owners tend to double down by charging fees to the renters, too. But renters on Wallabing pay just one 10% fee that’s charged on the nightly rate only–not on any cleaning fees or additional equipment they might be renting along with the RV. To make those low fees possible, Wallabing focuses on making its service as cost-efficient as possible. “I looked everywhere we could trim things,” said Carlson. That included carefully choosing a great insurance partner and roadside assistance service. That model is already starting to pay off. In the first half of 2023, the platform has increased its listings by 25% and added thousands to its user base. Since June 15th alone, it gained over 30,000 new users. On the capital raising side, Wallabing also made headway. After raising over $1 million in an initial family and friends funding round, it’s already added over $55,000 more from investors through its Wefunder campaign. Looking ahead, Wallabing plans to grow its inventory to 150,000 RVs within the next five years. Click here to learn more about Wallabing’s mission to revolutionize RV rentals and how to invest. This post contains sponsored content. This content is for informational purposes only and is not intended to be investing advice. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

September 12, 2023 09:00 AM Eastern Daylight Time

One Media IP Group CEO reports on stellar week

One Media iP Group PLC

One Media iP Group PLC (AIM:OMIP) CEO Michael Infante speaks to Thomas Warner from Proactive about the latest developments at the digital music rights acquirer, publisher and distributor. The company's share price has risen over the last following after the group announced it had acquired the licensor's income share of the Entertain Me music catalogue, which boasts over 15,000 tracks. Infante explains that the move is in line with One Media's specialisation in nostalgic music. Infante highlighted the successful partnership with sister company anti-piracy platform TCAT, which has been gaining traction to such an extent that it has recently announced a major expansion of its leadership team. Looking ahead, Infante hinted at potential acquisitions, fuelled by a $1 million advance from a distribution partner. He suggests that One Media iP Group's strong cash position and profitable operations position them well for future growth and concludes by drawing attention to the increase in the share price, calling it a "profitable, cash-generative business." Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com

September 12, 2023 08:28 AM Eastern Daylight Time

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Ascento rolls out latest autonomous security patrolling robot with new $4.3m funding round to tackle global security guard personnel shortage

Ascento

Labour shortages have affected large parts of the world and various industries. The security industry is also feeling the crunch, with many countries around the world facing a 52% staff shortage of security guards* which means companies are struggling to fulfill contractual obligations or sign new business. In addressing this pressing issue, robotics startup Ascento, is today announcing a $4.3m funding round and the launch of its latest autonomous outdoor security patrolling robot: Ascento Guard. The pre-seed funding round was led by Wingman Venture and Playfair with participation from marquee investors including Tim Kentley-Klay (Founder of Zoox that exited to Amazon), robotics industry veteran Ryan Gariepy (CTO & Co-Founder of Clearpath Robotics and OTTO Motors), Daniel Kottlarz (Founder of MYBOTSHOP, largest robotics research reseller in Europe) and Tobias Redlin (Founder of IGO3D, largest desktop 3D printer distributor in Europe), including non-dilutive funding from the Swiss Innovation Agency Innosuisse and the European Space Agency incubator ESA BIC. Ascento develops advanced robotic systems that are popularly known for their wheel-leg design. These autonomous robots are designed to navigate any outdoor terrains with agility and stability of their legs. They are already being deployed on large industrial sites and have covered over 3000 km for outdoor security since early this year. Ascento customers include large outdoor warehouses, industrial manufacturing and pharma campus, among others. Today, the startup has launched their latest autonomous outdoor security patrolling robot called Ascento Guard. It is able to detect bad actors or unwanted people on premises, verify perimeter integrity, check that doors and windows are closed, record property lights, identify floods and fires, and control parking lots. They can move at walking speed (4.5km/h) and come with autonomous charging such that the system can be continuously in operation without human intervention. The Ascento Guard can be installed and deployed within a few hours, allowing companies to save from day 1 and adapt fast to their current security needs. The Ascento Guard can be hired by the hour, just like a human guard, and it includes deployment, 24/7 support, service and repairs. The Ascento App analyses video and images with AI, it integrates with existing video management systems, provides end-to-end encrypted two-way communication, and offers powerful reports that security managers actually want to see. Alessandro Morra, co-founder and CEO of Ascento commented: “The new Ascento Guard offers hope and a breath of fresh air for the security industry facing some pressing challenges. By supporting human security personnel with the Ascento Guard, security companies can offer a lean solution through which Ascento does the heavy lifting allowing humans to focus on the unique nuances of the work”. The global security industry is facing mounting challenges. Labour shortages mean a lack of qualified personnel available to do the work which involves long shifts, during anti-social hours or in bad weather. To compound matters, there is high staff turnover in the industry, as much as 47% annually. By providing a robotics-as-a-service solution to security companies, Ascento aims to address these challenges. Alessandro Morra added: “Ascento is targeting the high operating costs the industry is enduring. The traditional approach is to use either people or fixed installed cameras. We know about the labour challenges and the installation of cameras has a huge outlay that can be complex. The Ascento Guard provides the best of both worlds, with the resilience, reliability and repeatability of technical solutions whilst being as flexible as human guards.” Ascento was co-founded by Alessandro Morra (CEO), Miguel de la Iglesia Valls (CTO), Ciro Salzmann and Dominik Mannhart (Software & Hardware) who combined their experience as security guards together with the robotics technology that they developed at the Swiss Federal Institute of Technology (ETH Zurich) as students. The team has grown to >10 people, as new customers sign up every month, with a growing fleet mileage over 70% month over month since the beginning of 2023. The systems in the field have accumulated over 3000 km. Ascento is hiring across Sales and Operations to scale their fleet of Ascento Guards. Pascal Mathis, Founding Partner at Wingman Ventures commented: “We accompanied the founder team for over a year as sparring partners and the dedication, execution speed and how the team is listening to its customers to build the right solution is astonishing. We look forward to making the life of security guards easier and the objects they protect safer.” Chris Smith, Managing Partner at Playfair commented: “Many of the world’s most pressing business challenges cannot be solved by software alone. We see the next decade as providing a huge opportunity for companies building in robotics to solve these challenges. Ascento’s combination of a world class team, best in class technology and a large global market with significant labour and pricing pressures made this a compelling investment opportunity for us.” * Gitnux Market Data, Security Guard Industry 2023: Statistics And Trends About Ascento Ascento provides robotic guards and AI software to patrol large, outdoor, private properties. It includes points of interest checking, edge case detection, all powered by proprietary AI. Premises like manufacturing plants, data centres, energy production, pharma manufacturing, luxury manufacturing and outdoor warehousing use the Ascento solution. For more information please visit: www.ascento.ai or follow us on LinkedIn, YouTube, X About Wingman Ventures Wingman Ventures is Switzerland’s leading pre-seed fund, backing founder teams building tech companies with the potential to become global market leaders. Wingman has a track record of supporting exceptional founders in creating breakthrough companies and has the passionate conviction that the Swiss startup ecosystem is just starting to write its best success stories. To learn more, please visit www.wingman.ch About Playfair Capital Playfair Capital is a generalist fund with a contrarian approach to pre-seed technology investing. Based in London, Playfair invests across the UK and Europe with an intentionally high conviction, low volume approach: making 6-8 investments a year and preserving time, capital and resource to help companies post-investment. Playfair has backed 70+ companies across two funds including Thought Machine, Andela, Mapillary, Recycleye and Orca AI. Contact Details Ascento Bilal Mahmood +44 7714 007257 b.mahmood@stockwoodstrategy.com Company Website https://www.ascento.ai/

September 12, 2023 08:00 AM Eastern Daylight Time

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Doceree launches The NEXT Marketing Lab – a data innovation opportunity for pharma marketers – at Digital Pharma East 2023

Doceree Inc

Doceree, a global platform building unprecedented solutions for HCP programmatic marketing with proprietary data tools, today announced yet another pathbreaking measure for the life sciences industry, The NEXT Marketing Lab. The innovation lab dedicates itself to addressing one of the most pressing challenges in the pharmaceutical sector: data intricacies, especially rigid data silos, that hinder commercial team collaboration, informed decision-making, next-gen research and clinical transformation. Curated for Doceree clients, who will gain exclusive access to the solution, The NEXT Marketing Lab will use proprietary cross-functional collaboration methodologies to identify tailored, next generation data strategies and solutions that maximize outcomes. As a well-known global pharma tech company built around proprietary technology and data tools, Doceree aims to revolutionize data solutions that marketing, sales and access teams can use to plan, deliver, and scale HCP communications backed by timely actionable insights. “The pharma landscape has evolved drastically with the industry waking up to the new reality of digital and incorporating the same into its fold to target HCPs across online platforms. The new scenario is a lot different from how data was traditionally collected in a controlled manner. The digital push has led to innumerable, vast and unstructured HCP datasets that are difficult to exploit for valuable insights that can drive key business decisions to make HCP communications more effective in terms of precision, timing and relevancy,” said Harshit Jain MD, Founder & Global CEO, Doceree. “We are guided by the vision of transforming the pharma messaging landscape. It is with this intent we have launched our latest initiative to break big data silos and bring value to pharma marketing by structuring scattered datapoints. As opposed to how unreal big data in the pharma sector may have looked, it is now a reality the industry can’t escape, and its potential can’t be ignored. The lab will greatly facilitate marketers to use and share data with ease and work with HCP datasets holistically to enhance internal and external collaborations to support innovation. This is the kind of value creation we aim to make for our partners as we assist them in their business growth.” Backed by a team of experts with extensive experience in pharmaceutical marketing, medical, consulting, data science, and technology, Doceree will engage with life sciences companies to explore and customize data strategies and solutions that align to their unique needs. The NEXT Marketing Lab collaborations can be tailored to tackle diverse challenges, such as cross-functional insight sharing, reliable HCP behavior modeling, physician-level personalization and compliant RWD integration. Cross-functional collaboration executed within a well-designed process is key to unlocking change. The NEXT Marketing Lab will use Doceree’s proprietary 4D™ methodology to: Decipher the most pressing commercial challenges impacted by data limitations. Decode relevant and viable data solutions. Decide what to prioritize based on impact and feasibility. Deliver a phased roadmap to achieve goals. “Doceree’s The NEXT Marketing Lab is designed to help marketers not only explore transformational data opportunities, but also to cross the chasm between innovative ideas and impactful market solutions,” said Kate Miller, Executive Vice President of Strategy at Doceree. “At Doceree, our mission is to push how data and technology can enhance the digital experience for the benefit of healthcare providers and their patients. The NEXT Marketing Lab is a significant milestone in fulfilling this vision.” For inquiries about Doceree’s The NEXT Marketing Lab, please contact partner@doceree.com Doceree is a global platform building unprecedented solutions for healthcare professional (HCP) programmatic messaging with proprietary data tools. It facilitates messaging between life sciences brands and HCPs through an extensive global network of digital endemic and point-of-care platforms to programmatically deliver personalized communications to HCPs and transparent marketing campaign metrics at scale. To learn more, visit doceree.com. Contact Details Priyanka Bhasin +91 78387 03702 priyanka.bhasin@doceree.com Company Website https://doceree.com/us/

September 12, 2023 07:42 AM Eastern Daylight Time

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News Release

Is Ethereum (ETH) Undervalued? Tradecurve Markets (TCRV) Ahead of Roadmap As It Launches Demo Platform

Total Media

The cryptocurrency sector is dynamic, and Ethereum (ETH) has consistently been at the forefront of this revolution. As one of the most widely recognized cryptocurrencies, Ethereum has played a pivotal role in shaping the DeFi landscape. However, with the recent developments and the launch of the Tradecurve Markets (TCRV) demo platform, the question arises: Is Ethereum undervalued, and what does Tradecurve bring to the table? >>Register For The Tradecurve Markets Presale<< Ethereum (ETH): A Long-Time Crypto Leader Ethereum (ETH), often called the "king of smart contracts," has been prominent in the cryptocurrency world since its inception. The Ethereum blockchain enables developers to create dApps, making it a crucial infrastructure layer for the entire crypto ecosystem. In recent Ethereum news, one notable development is the integration of Ethereum with popular platforms like MetaMask. As a result, it enables users to seamlessly convert their ETH holdings into fiat currency and transfer those funds to their bank accounts. This move bridges the gap between the crypto and traditional financial worlds, making Ethereum a robust technological platform. Because of this reason, experts in the field remain bullish for the Ethereum price as they predict it could reach $2,335.71 by December 2023. >>Register For The Tradecurve Markets Presale<< Tradecurve (TCRV): A New Contender on the Rise While Ethereum is a well-established player, Tradecurve (TCRV), which was recently rebranded to Tradecurve Markets, is an emerging name gaining traction. Tradecurve Markets is a cryptocurrency exchange platform that aims to address some of the pain points experienced by traders. Recently, Tradecurve Markets made a significant move by launching its demo platform, allowing users to explore and experience its features. For example, unlike Binance or Coinbase, Tradecurve Markets does not require sign-up KYC checks. Instead, users can trade all derivatives on one account created using an email only. Thus, in complete anonymity. Additionally, the platform has attracted a remarkable user base, with over 18,000 users coming on board, highlighting its growing popularity. Even more exciting is that Tradecurve Markets is nearing its official launch, hinting at the imminent release of its innovative features and services. Currently, the project is offering its native token, TCRV, for only $0.025 as it is in Stage 5 of its presale. This token will bring users discounts, exclusive trading account rewards, and more. Plus, those who buy it now will enjoy a 20% ROI as Stage 6 will begin soon, and a price rise to $0.03. Evidently, demand is high as experts forecast a 50x surge before the presale ends. For more information about the Tradecurve Markets (TCRV) presale: Website: https://tradecurvemarkets.com/ Buy presale: https://app.tradecurvemarkets.com/sign-up Twitter: https://twitter.com/Tradecurveapp Contact Details Tradecurve Markets marketing@tradecurvemarkets.com

September 12, 2023 05:30 AM Eastern Daylight Time

REPORT: The Return of Funding Discipline triggered the ecosystem to Fight for Profitability to Survive

Finch Capital

In their 8th State of European FinTech report, Finch Capital takes a closer look at three core areas and provides an analysis of the sector with a forecast of trends that will likely emerge including: (1) Impact of Investment Environment on the State of European FinTech, (2) State of FinTech of key European Countries and (3) Thematic Trends we expect to see strong momentum next 12 months. Return of investment discipline triggers structural decline in funding, UK's share increases and the end of the mega rounds. The European FinTech sector has been heavily impacted by the new funding environment, with a total of €4.6Bn capital raised in the first half of 2023, down 70% from €15.3Bn in H1 2022. In 2021 and 2022, the top 20 funding rounds in Europe accounted for 50% of the market, they are now accounting for over 60% of total deal volume whilst having largely decreased in size. Across the investment ecosystem, the long tail of deals outside of the top 20 have been squeezed in total capital raised, and like any previous cycle corporate investors are retreating in the face of macroeconomic uncertainty. Seed rounds continued to attract funding, but companies in the Series A to C stages got squeezed the most. Sector wise, the biggest surprise has been in Payments, which traditionally has been a resilient category that saw record amounts of capital deployed in 2022, as investors took caution to the valuation inflation in the sector. Crypto has been the main benefactor as investors flocked to early stage businesses. Finch Capital’s report shows a drop of 70% in funding value across major markets such as the UK, Germany and France, although the share of the UK in the total funding accounted for 50% of the total capital raised in Europe, up from 45%. US based investors that were active in these markets have also taken a step back. For instance, in 2021, there were 3 US based firms in the top 5 investors in the UK, while in 2023, there were none. From a valuation perspective, public technology markets have retreated to 2019 levels after record growth in 2020-2021, but are showing some signs of stabilization. The private markets are undergoing a similar but slower transition to 2019 valuation levels. Later stage valuations have fallen much more dramatically having seen in some cases up to a 50% drop. The earlier stage in FinTech has been much more resilient, as valuations have remained relatively flat. There is hope for the ecosystem though, as valuations stabilized in the first 6 months of 2023 from their low in December 2022 These topics are good proxies for the overall health of European FinTech which, as Finch predicted last year, has now entered a period of contraction. Unsurprisingly, there will be losers, but like in every market cycle, there will be winners as well. Laser focus on building profitable businesses at sustainable valuations will drive economic value to all stakeholders in this next phase. Exit market remains resilient, except for larger transactions M&A activity was still only down 5%, showing an appetite to do deals at the right prices, however it showed a 84% decline in M&A transaction sizes. Public markets remained closed however, as valuations have bottomed out, and with inflation declining, 2024 could create new opportunities for Europe's highest valued companies to exit, as they are too big to be acquired. This is all against a backdrop of the M&A market seeing large outcomes decline considerably, with less than 19% of all deals valued over USD 500m and venture funding with ‘megarounds’ in particular having declined back to 2019 level. As companies fight for profitability most companies made lay-offs, except half of the European Unicorns, which are expected to start laying off in the second half The fight for profitability came into real focus in the past year as the industry suffered from more than 3,000 announced layoffs. Despite the backdrop described above, the sector is still hiring, with the 10 fastest growing Fintech companies having hired +1050 people in the past year (50% of employee base). Demonstrating a shift towards a less-well funded and more competitive landscape, some companies have decided to hire for cheaper junior positions and lay off senior sales people that have gotten too expensive over the last few years for today’s market conditions. Review of the key European countries showed that despite the slowdown, the UK markets’ maturity enables to continue to stand out Overall, the UK showed more resilience than some others and accounted for over 50% of the funding in Europe. Regions like the Nordics, Poland and France and Nordics held up through some bigger crypto funding rounds, but overall dependence on local early stage investors is prevalent. The lengthening of time to fund is also particularly felt in markets like Ireland, Poland and Nordics as investors refocus on core local markets with the bar for non-local investors rising to even higher levels than before. Sovereign Fund of Fund Investors like the British Business Bank, Enterprise Ireland, KfW, BPI continue to back funds in the local ecosystem that allowed capital to remain in the market. France for instance, had the largest equity deal of the year with Ledger raising over €400m. In general, countries with an active Series A-B investor base, such as the UK and France have seen valuations hold up with modest increases in post money valuations. The trend of a shift to software and B2B FinTech continues in 2023 The shift from consumer FinTech to B2B FinTech has been taking place over the last couple of years and now that trend is here to stay. Lending/balance sheet business in general have been affected, as cost of funding increases and loan portfolios worsen. The saving grace for some of the B2C FinTechs has been the increase in interest rates, which allows a healthy interest income revenue line to exist. As payment and open banking consolidate, regulation technology is driving increased enthusiasm in the B2B FinTech sector. KYC and AML are becoming complex and further tailwinds from government driven initiatives are resulting in renewed interest from investors. With the generative AI boom, retail banking and insurance seem to be prime candidates for adoption. Finally we expect the CFO to become even more important in an organization and the tools they use will only expand. Commenting on the findings Radboud Vlaar, Managing Partner at Finch Capital, said: “Since mid 2022 we have seen an increase in investment discipline in public and private markets, resulting in less funding, lay-offs, less IPOs, flight to quality and focus on capital efficiency. This will continue to be painful for the next 12 months, but will result in a more healthy and sustainable Start-up, Hiring and Investor ecosystem ” “ With investors bridging overvalued portfolio startups to bring them to profitability and struggling to find attractive exits in a grossly devalued market, we are likely to see a period of consolidation in the FinTech space as many verticals are highly fragmented, creating a smaller but more sustainable ecosystem. We should also start to see a slow recovery of the IPO market in the next semester as valuations have started to slowly pick up and inflation is declining ”. “ Last year’s shake up with valuations coming down, fundraising slowing down and the exit window closing up, was painful yet necessary. Consolidation and more competitive investment flows, combined with still significant levels of undeployed capital, will bring maturity to the FinTech sector. This new normal level of activity demonstrates the refocus of the FinTech ecosystem on long term sustainability versus short term gains " About Finch Capital Finch Capital is a Growth Investor in Europe’s Biggest Technology Transitions. We currently focus on 6 themes: FinTech (incl. Health and Insurance), Payments, Business Applications (Incl Accounting, Tax), Regulatory and ESG Software and Real Estate Technology. We back companies generating €2m+ in ARR by investing €5 to €15m initially and help them scale to €30m-€50m revenues by building sustainable and capital efficient business models. We have invested in ±45 companies including Fourthline, Goodlord, Grab, ZOPA, Twisto, AccountsIQ, Nomupay and Symmetrical. Finch Capital consists of a team of 12 investment professionals with wide entrepreneurial experience located across offices in Amsterdam, London and Dublin. For more information see www.finchcapital.com and subscribe to our newsletter. Contact Details Finch Capital Radboud Vlaar Radboud@finchcapital.com Finch Capital Aman Ghei aman@finchcapital.com Company Website https://www.finchcapital.com/

September 12, 2023 03:00 AM Eastern Daylight Time

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Marketplacer Helps FINN Give Refurbished Electronics A Second Life

Marketplacer

Marketplacer, a global technology platform that enables brands, retailers, suppliers, communities, and innovators to build and grow successful online marketplaces at scale, is proud to announce today that one of the most well-known brands in Norway - FINN - is experiencing record growth on its new Marketplacer-powered e-commerce site for used smartphones and accessories, FINN Nybrukt. Based in Oslo, Norway, FINN is the country’s largest online marketplace, allowing consumers to purchase anything from cars to houses to general merchandise. In February 2023, the company expanded these offerings with the launch of FINN Nybrukt, a new e-commerce marketplace for used smartphones and accessories, where buyers can choose from a variety of pre-owned, refurbished phones, and sellers can help their used phones find a second “life” and avoid the landfill, which is a key mission for FINN. Essentially functioning as a boot-strapping startup within the larger Schibsted family of brands, the team at FINN considered building an e-commerce platform on its own. Instead, the team decided that its business objectives would be better served by choosing a technology partner that it could collaborate with in order to meet its business objectives. FINN chose Marketplacer because the company’s fast, flexible and easily-scalable marketplace platform technology aligned perfectly with FINN’s accelerated time-to-market target. “FINN was already a household name in Norway, but what the team was looking to do with FINN Nybrukt was a new adventure,” said Marketplacer CEO and Co-Founder Jason Wyatt. “We have a deep understanding of the different needs and approaches start-ups have compared to their more established corporate counterparts. FINN knows how to sell almost anything and we know how to create the infrastructure to make it happen and how to make it happen fast.” Ultimately, FINN was able to launch its new Marketplacer-powered e-commerce platform in less than six months and the site continues to experience a tremendous uptick in interest over the first few months of operations. In fact, while July is traditionally a slow month for sales in Norway, FINN Nybrukt saw an all-time high in sales. “We are always looking for new business models for marketplaces and the demand for refurbished electronics is hot,” according to Emilie Høstmark, team lead for refurbished electronics at FINN/Schibsted’s Nordic Marketplaces division. “Since so many people have used electronics, giving them a simple way to re-circulate them not only makes economic sense, but also helps the environment by reducing e-waste. The partnership also enables us to scale and expand into other countries across the region which was a key consideration for us.” Following the success of its refurbished smartphones marketplace, FINN plans to expand into additional categories, including tablets, smartwatches and AirPods, with the potential to further expand into gaming equipment and more. The company is also looking to expand geographically, leveraging its sister marketplaces across the Nordic region. The FINN Nybrukt marketplace is live and interested sellers in the Nordics can find more information here. About Marketplacer Marketplacer is a global technology Software as a Service (SaaS) platform equipped with all the tools and functionality needed to build successful and scalable online marketplaces, at speed. To date, Marketplacer has helped build and deploy over 100 Marketplaces connecting over 13,000 businesses worldwide. The Marketplacer platform exists to make growth simple, from implementing marketplace strategies such as shipment from drop-ship sellers, adding new categories or third-party range extension, through to consolidating markets and rolling out modern revenue models such as recurring memberships that allow businesses to grow faster and beyond the constraints of capital inventory. Born and bred from the award-winning BikeExchange, the biggest online marketplace for anything and everything bike, founders Jason Wyatt and Sam Salter saw the opportunity to license the online software platform and apply it to new marketplaces. Marketplacer is responsible for the creation of online e-commerce solutions and business transformations of companies around the world. Visit www.marketplacer.com for more information. About FINN FINN.no is Norway's largest online marketplace with almost 500 employees and was founded in 2000. Ever since, FINN has gained enormous popularity among Norwegians, its reputation is one of Norway's strongest and almost every Norwegian has a relationship with FINN. Every year Norwegians spend an average of almost 33 hours on FINN.no. and more than 14 million ads are published. FINN has the #1 position in the markets they are in and connects millions of buyers and sellers. Whether it is to buy or sell products, looking for a house or a new job, browse cars or boats, or dreaming of the next holiday - FINN offers the opportunity to realize dreams and make sustainable choices. As part of Schibsted Nordic Marketplaces, which consists of strong, local marketplaces across the Nordics, FINN also has a cross-Nordic perspective and view. Contact Details Marketplacer Press Inquiries: Michael Herrera michael.herrera@marketplacer.com Company Website https://www.marketplacer.com/

September 12, 2023 12:00 AM Mountain Daylight Time

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