Tag Archives: fintech

TABS Score™ adds TABS | EU Assessment to their Diligence-as-a-Service (#DaaS) platform

MOUNTAIN VIEW, Calif., United States, 20-Jul-2020 — /EPR FINANCIAL NEWS/ — TABS Score™ has just deployed their newest addition to the suite of products available on their Diligence-as-a-Service (DaaS) platform – TABS | EU Assessment, (available in both Lite and Suite versions). The rollout was strategically timed to complement the rapidly increasing requests by TABS’ existing European (and those that focus on Europe as a market) customers, as there are quite a few differences in terms of rules, processes, and regulations that European ventures face differently than US-based startups. The new model entails the addition of several nested decision trees to augment the already-powerful nucleus of the Machine Learning algorithm, as well as a new ESG, regulatory, and analytics sections to properly address the differences between American and European resources, financing, policies, accounting practices and more. The EU version of the Assessment will mirror the US Assessment in functionality and output but will provide comparative analytics between them and their counterparts on the global market and allow companies to complete the Assessment in a language of their preference.

Mayflower Ventures, a micro-fund being formed by Wall Street Veteran Marshall Sterman, has already made the decision to integrate a Diligence-as-a-Service as part of their investment process which pitching to investors for the fund.

“Both the committed and prospective LPs love the fact that instead of asking for higher management fees to hire an analyst team in house, we are making smart lateral decisions to use a powerful software like TABS to strengthen and accompany our own internal diligence processes,” Sterman says.

As TABS expands to Europe and subsequently, their footprint across the globe, they will soon be modifying the assessment to meet the needs of ventures in other venture hotspots as well, the APAC region being the first. The comprehensiveness and ever-evolving nature of the TABS Score and its customizable solutions has made the Fin-Tech company one of the most sought-after Diligence-as-a-Service providers, with accolades coming from founders, investors, accelerators, and consultants (legal, accounting, fundraising, etc.)

TABS has already gained significant traction in the US markets, partially attributable to the Covid-19 virus and the cancellations of physical meetings. Engineered by successful serial entrepreneurs and veteran seed investors, the TABS Suite, which includes the TABS Score & Valuation assessment, has helped investors assess the viability of a business, significantly augmenting their diligence process in a fraction of the time and cost. Early-stage companies on the other hand increase the probability of attracting the attention of a potential investor by proactively going through the process.

SOURCE: EuropaWire

Fast Invest will allow users to use their bitcoin or ethereum as collateral for loans in traditional currencies

Essex, UK, 13-Dec-2017 — /EuropaWire/ — Fast Invest is excited to announce the launch of its native cryptocurrency token (FIT) during their upcoming ICO launched on December 4th. The FinTech company has been operating since 2015 in the investment loan space, connecting funders with loan-seekers in a peer-to-peer exchange. With more than 8,500 daily users from 36 countries, Fast Invest is expanding into the largely unoccupied cryptocurrency lending sector.

Blockchain-based cryptocurrencies have been rapidly in 2017, racking up a seventeen times (at the time of this press release) increase in market capitalization since the beginning of 2017.  As these financial technologies mature new opportunities arise, especially for unbanked and underbanked populations. This is because digital currencies allow for the exchange of value without the need for central banks or other intermediaries. Fast Invest aims to leverage these developments to democratize investment by allowing people to invest as little as one dollar on their loan platform. This enables users to band together to crowdfund a loan that gets paid back with interest, which can then generate returns for the loan suppliers.

In what may be a first for the industry, Fast Invest will allow users to use their bitcoin or ethereum as collateral for loans in traditional currencies. Due to the nature of smart contracts, loans like this can be executed with very little human input and all parties can be sure that the terms of the loan will be carried out. This is because smart contracts utilize code and mathematics to enforce agreements without the need for human intervention.

By expanding to cryptocurrency-based investment instruments the company aims to reduce friction in the world of P2P investment and loan services. These offerings include a cryptocurrency exchange, digital wallet for holding tokens, cryptocurrency investment services, decentralized lending, and a payment card that can be funded by cryptocurrencies but used like a credit card.

SOURCE: EuropaWire