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FCCL maker Taiflex to invest over NT$2 billion in capacity expansion

Taiwan's FCCL specialist Taiflex Scientific has disclosed plans to invest more than NT$2 billion (US$72 million) in expanding production capacities at its plants in China and Taiwan over the next two years......»»

Category: topSource: digitimesDec 4th, 2021

FCCL maker Taiflex to invest over NT$2 billion in capacity expansion

Taiwan's FCCL specialist Taiflex Scientific has disclosed plans to invest more than NT$2 billion (US$72 million) in expanding production capacities at its plants in China and Taiwan over the next two years......»»

Category: topSource: digitimesDec 4th, 2021

EV Roundup: TM"s $3.4B Investment, TSLA"s Blowout Q3 & More

While Toyota (TM) bets big on the U.S. electric future with a $3.4-billion investment, Tesla (TSLA) impresses investors with impressive Q3 results. The electric vehicle (EV) revolution is speeding up, with legacy automakers leaving no stone unturned to establish a strong foothold in this domain and setting ambitious targets to electrify their fleet. Last week, Toyota TM bet big on the U.S. electric future with a $3.4-billion investment. In a bid to step up its EV prowess, Stellantis STLA inked joint venture deals with LG Energy Solution and Samsung SDI. Ford F announced plans to invest $300 million for manufacturing EV components in Europe, as it plans to go all-electric in the continent by the decade-end. Such has been the frenzy surrounding electrified vehicles that Apple iPhone maker Foxconn is also set to capitalize on the same. The Taiwan-based electronics giant is set to bet on the green mobility future with three EVs that it plans to bring to the market: an electric SUV, a flagship sedan, and an electric bus, labeled the Model E, Model C, and Model T, respectively. Last Week’s Key StoriesToyota will invest $3.4 billion (380 billion yen) for automotive battery development and production in the United States through 2030. The investment, which is supposed to come from Toyota’s North American arm, involves the plan to establish a new company and build an automotive battery plant in the United States in collaboration with Toyota Tsusho. The plant, anticipated to start production in 2025, involves an outlay of $1.29 billion for expansion until 2031, resulting in the creation of 1,750 new jobs. The venture will initially focus on producing batteries for hybrid EVs. The new company's activities will also include aiding Toyota in enhancing its local supply-chain network and production expertise related to lithium-ion automotive batteries. Tesla TSLA reported third-quarter 2021 earnings of $1.86, which surpassed the Zacks Consensus Estimate of $1.39. A higher-than-expected automotive gross profit resulted in this outperformance. Precisely, automotive gross profit came in at $3,673 million, topping the consensus mark of $3,328 million. The bottom line also compared favorably with the year-ago earnings of 76 cents a share. Total revenues came in at $13,757 million, beating the consensus mark of $13,163 million. The top line also witnessed year-over-year growth of 56.8%. The EV king reiterated its goal of achieving 50% average annual growth in vehicle deliveries over a multi-year horizon. Tesla currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Stellantis entered into a joint venture deal with LG Energy Solution to develop battery cells in North America. Per the deal, the companies will jointly establish a battery factory having an annual capacity of 40 gigawatt-hours (GWh) that will be functional by first-quarter 2024. Stellantis also announced its collaboration with Samsung SDI for battery production in North America. With Samsung, it will develop a plant with an initial annual capacity of 23 GWh, having an expansion capacity up to 40 GWh. This plant is expected to become operational in 2025. The agreements are in sync with Stellantis’ plans to invest more than €30 billion throughout 2025 in electrification and software development.Ford announced plans to spend more than $300 million to manufacture EV parts and components in Europe. In this regard, the U.S. auto biggie intends to convert the Halewood factory in northern England into a facility that will engage in the development of electric power components for green vehicles. The Halewood plant, with a production capacity of 250,000 power units per year, will begin manufacturing the parts by mid-2024. This marks Ford’s first European in-house location to make EV parts and an important investment, as it plans to go all-electric in the continent by 2030.Allison Transmission ALSN is set to make a strategic investment of approximately $42 million in Jing-Jin Electric (JJE) IPO. Allison’s investment in JJE follows the recent collaboration between the two companies to accelerate the development of best-in-class electrified powertrain solutions for global commercial vehicles. The alliance aims to bank on JJE’s dominance in electric motor and inverter development, and robust foothold in the China commercial vehicle electrified powertrain market, while exploiting Allison’s expertise in fully-electric and electric hybrid commercial duty propulsion systems. The latest investment highlights Allison’s commitment to the commercial electric vehicle space.Price PerformanceThe following table shows the price movement of some of the major EV players over the past week and six-month period.Image Source: Zacks Investment ResearchIn the past six months, all stocks have decreased, apart from Tesla, XPeng and Li Auto. Lordstown bore the maximum brunt, with shares declining 53.2%. The past week also displayed a mixed price trend, with Nikola being the worst performer and Tesla registering the maximum gains.What’s Next in the Space?Stay tuned for announcements of upcoming EV models and any important updates from the red-hot industry. Infrastructure Stock Boom to Sweep America A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made. The only question is “Will you get into the right stocks early when their growth potential is greatest?” Zacks has released a Special Report to help you do just that, and today it’s free. Discover 7 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.Download FREE: How to Profit from Trillions on Spending for Infrastructure >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Ford Motor Company (F): Free Stock Analysis Report Toyota Motor Corporation (TM): Free Stock Analysis Report Tesla, Inc. (TSLA): Free Stock Analysis Report Allison Transmission Holdings, Inc. (ALSN): Free Stock Analysis Report Stellantis N.V. (STLA): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksOct 25th, 2021

Micron (MU) Lays Out $150B Investment Plans to Boost Chip Output

Micron (MU) intends to invest more than $150 billion over the next decade on R&D and boost manufacturing via capacity expansion at its existing plants and build new facilities in the United States. Micron Technology MU on Wednesday announced that it plans to invest more than $150 billion over the next 10 years to boost its memory chip output. Its recently-announced long-term budget also includes investments in research and development activities to meet the growing demand for chips.The memory chip maker’s announcement came in the wake of the prevalent chip shortage that is hampering productions in the consumer electronics, cars and several other industries. The supply-chain constraint is also driving prices across industries.Considering the growing demand and to meet expectations for the 2030 era, Micron is planning to increase capacities at its existing plants as well as build new factories in the United States. However, the company warned that a new fabrication plant in the United States is only feasible when government funding and refundable tax credits are made available.The company noted that manufacturing cost for memory chips in the United States is approximately 35-45% higher than in the low-cost markets. Therefore, government funding and refundable tax credits become crucial for its long-term U.S. manufacturing expansion plan.Micron Technology, Inc. Price and Consensus Micron Technology, Inc. price-consensus-chart | Micron Technology, Inc. QuoteGrowing Demand for Memory ChipsMicron is the only U.S.-based semiconductor company, which produces both types of key memory chips, i.e. DRAM and NAND. The usages of memory chips have been rapidly growing and now constitute about 30% of the total global semiconductor market, up from about 10% a decade ago.The demand for memory chips has been growing rapidly, mainly driven by its increasing usage across everything from smartphones to artificial-enabled cloud.Micron is witnessing a different demand scenario for its memory chips. The pandemic-led global lockdown and social-distancing measures are thwarting demand for smartphone, automotive and consumer electronics.Moreover, the social-distancing measures have spurred significant chip demand from data-center operators, as organizations are shifting to cloud for the continuation of operations. The work-from-home and online learning wave is stoking demand for cloud storage.Furthermore, the coronavirus crisis has augmented the usage of online services globally. Therefore, the data-center operators are boosting their cloud-storage capacities to accommodate the demand spike for cloud services.Memory chips have become one of the most important components of the current-day technology-driven economy. Digitization across industries, adoption of cloud computing, as well as the integration of AI and machine learnings are fueling demand for memory chips.The accelerated deployment of 5G technology — the next-generation wireless revolution — is likely to propel further growth. Apart from this, Internet of things, autonomous vehicles, AR/VR and wearables are other growth prospects.Industry-wide Supply Constraint Hurting MicronDespite the strong demand environment, Micron’s near-term prospects look gloomy as the company predicts that bit shipments for the DRAM and NAND memory chips will decline in first-quarter fiscal 2022 as personal computer manufacturers are adjusting their memory and storage purchases due to the shortage of other components to complete PC assembling.Furthermore, the memory chip maker is witnessing supply constraints for certain IC components, which is expected to somewhat negatively impact bit shipments in the near term.Zacks Rank & Key PicksMicron currently carries a Zacks Rank #5 (Strong Sell), at present.Some better-ranked stocks in the broader technology sector include Microsoft MSFT, STMicroelectronics N.V. STM, and Palo Alto Networks PANW, all carrying a Zacks Rank of 2 (Buy), at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.The long-term earnings growth rate for Microsoft, STMicroelectronics and Palo Alto Networks is currently pegged at 11.1%, 5%, and 25.7%, respectively. Infrastructure Stock Boom to Sweep America A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made. The only question is “Will you get into the right stocks early when their growth potential is greatest?” Zacks has released a Special Report to help you do just that, and today it’s free. Discover 7 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.Download FREE: How to Profit from Trillions on Spending for Infrastructure >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report STMicroelectronics N.V. (STM): Free Stock Analysis Report Microsoft Corporation (MSFT): Free Stock Analysis Report Micron Technology, Inc. (MU): Free Stock Analysis Report Palo Alto Networks, Inc. (PANW): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksOct 21st, 2021

Metal Can Makers Investing in Capacity to Meet Strong Demand

Banking on the growing preference for metal cans worldwide thanks to its recyclability, companies like BLL, CCK and SLGN are investing in growing capacity. The can industry, which manufactures light metal cans that are used as beverage and food containers from aluminum or steel, has been witnessing unprecedented demand over the past few years. Owing to increasing awareness about the environment, customers have been preferring cans over plastic. Cans help increase the shelf life and maintain the quality of the food, and is the world’s most sustainable and recycled packaging option. Changing lifestyle choices, population growth and increasing disposable income have also led to the shift in preference. The beverage and food can industry witnessed a surge in demand amid the COVID-19 pandemic as customers opted to buy multiple packs of beverages and canned food for at-home consumption.North America is expected to command the largest share in the beverage cans market share in the foreseeable future. Developing markets have witnessed higher growth rates owing to rising population and increasing consumer spending, and consequent escalation in beverage consumption. The increasing health consciousness among consumers has led to high demand for healthy and nutritious beverages in the United States. Due to the growing consumer awareness regarding environmental pollution, can makers have been striving to bring sustainable packaging solutions. By 2025, the global beverage can industry is projected to grow by approximately 100 billion units.To capitalize on this growth, manufacturers are aggressively increasing their capacity. Westminster, CO based Ball Corporation BLL, which makes aluminum packaging products for the beverage and other products, recently announced that it intends to build a new multi-line aluminum beverage-can packaging plant in North Las Vegas, NV. This plant is anticipated to commence production at the end of 2022. North Las Vegas is an apt choice for the plant, given its proximity to customer can-filling investments, rising beverage can packaging demand in the region, proper infrastructure and regional labor base. Ball Corp has been investing in projects across North America, South America and EMEA, which are expected to add at least 25 billion units of contracted beverage can capacity by year-end 2023 (off a 2019 base of 100 billion units).Another can maker, Yardley, PA-based Crown Holdings, Inc. CCK that offers steel and aluminum cans for food, beverage, household and other products has also been implementing several expansion projects. The company recently announced the addition of a new beverage can plant in Mesquite, NV. This two-line state-of-the-art facility will supply standard and specialty beverage cans to its diverse beverage customers serving carbonated soft drinks, energy drinks, sparkling water, beer, hard seltzers, and ready-to-drink cocktails. The plant is scheduled to commence operations in the second quarter of 2023. This investment will not only aid Crown Holdings to serve its existing customers in the Western United States but also support the expansion of new beverage can plants in order to meet customers’ heightening demand for aluminum beverage cans. By the end of 2022, it expects to have 97 billion units of annualized global beverage-can capacity, which indicates a 28% expansion from the 2019 base.Both Ball Corporation and Crown Holdings fall under the Zacks Containers - Metal and Glass industry. Another player in the industry, Stamford, CT-based Silgan Holdings Inc. SLGN, which makes metal food containers, has increased its overall share of the metal food container market in the United States from approximately 10% in 1987 to slightly more than half of the market in 2020 via acquisitions and organic growth. Additionally, it continues to make significant capital investments to enhance the competitive advantages of metal packaging for food. Ardagh Group S.A. ARD another company in the same industry continues to invest in its growth projects. Infrastructure Stock Boom to Sweep America A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made. The only question is “Will you get into the right stocks early when their growth potential is greatest?” Zacks has released a Special Report to help you do just that, and today it’s free. Discover 7 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.Download FREE: How to Profit from Trillions on Spending for Infrastructure >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Silgan Holdings Inc. (SLGN): Free Stock Analysis Report Ball Corporation (BLL): Free Stock Analysis Report Crown Holdings, Inc. (CCK): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksOct 15th, 2021

Telecom Stock Roundup: Corning Boosts Fiber Production, Telefonica Inks Deal & More

While Corning (GLW) will invest $150 million in its Catawba County facility in North Carolina to augment fiber production for AT&T, Telefonica (TEF) will migrate most of its database systems to Oracle. Over the past five trading days, U.S. telecom stocks have witnessed a roller-coaster ride, punctuated by the uncertainty regarding the final passage of the $1.2 trillion infrastructure bill by the House and a transatlantic pledge to strengthen semiconductor supply chains to tackle chip shortage. Although Democratic Speaker Nancy Pelosi has scheduled the bill for a vote today, it appears to be still stuck in a potential stalemate, as several progressive Democrats want the bill to be tied to the larger $3.5 trillion budget reconciliation bill that is facing massive backlash from both Republicans and Democrats. Despite interventions by President Biden to broker a compromise with the dissident groups, the bill appears poised on a tender balance to pass through the House. The infusion of federal funds to improve broadband infrastructure for greater access and deeper penetration in the underserved domestic markets could have worked wonders for the beleaguered industry and helped to bridge the digital divide. However, the uncertainty over the much sought-after infrastructure bill that focuses on affordability and low-cost service option has hard hit the industry. While the policy paralysis has crippled operations, an FCC-mandate to ‘rip and replace’ telecommunications equipment manufactured by China-based firms like Huawei and ZTE has affected the sustainability of rural telecom firms amid widespread resentment of the release of Huawei's chief financial officer Meng Wanzhou from three-year detention in Canada. The removal of the low-cost gear is likely to affect rural network service, hurt profitability and jeopardize the progress of 5G deployment when most local operators would be forced to reshuffle their existing infrastructure. Although the FCC is slated to initiate a $1.9 billion program to reimburse the carriers by seeking applications from Oct 29 through Jan 14, 2022, it is unlikely to pacify the huge number of rural telecom operators that are likely to go out of office.Meanwhile, senior cabinet officials from both the United States and the European Union have come together to coordinate transatlantic ties to better address supply chain headwinds for chip shortage and take a pro-active and unified approach against foreign adversaries. With the launch of the U.S.-EU Trade and Technology Council, the continents aim to strengthen the regional technology ecosystem by pledging to cooperate on export controls for sensitive dual-use technologies and on the development of AI. Although this appeared to be a positive signal for the industry, unless the tangible effects percolate within the system, it is unlikely to reap significant benefits.     Regarding company-specific news, partnership, strategic agreements, portfolio enhancements, and 5G deals primarily took the center stage over the past five trading days.Recap of the Week’s Most Important Stories1.     Corning Incorporated GLW has extended its long-term partnership with AT&T Inc. T by committing to invest $150 million in its Catawba County facility in North Carolina to augment fiber production. In addition to generating about 200 jobs initially to boost regional economic development, the investment is likely to help AT&T increase its fiber footprint across the country and scale up its broadband network connectivity.A surge in demand for broadband connectivity has led to a wide proliferation of fiber infrastructure throughout the country and carriers like AT&T are aiming to significantly increase their fiber coverage to gain a greater pie in the market. An integrated fiber expansion strategy is expected to improve AT&T’s broadband connectivity for both enterprise and consumer markets, while steady 5G deployments are likely to boost end-user experience. The carrier intends to achieve this objective by leveraging its long-term business association with Corning spanning over three decades and gain a competitive edge in the fiber industry, which is probably in the early stages of a major growth cycle.      2.     To better utilize the benefits of 5G and edge computing facilities in core network functions, Telefónica, S.A. TEF recently inked a multi-year agreement with cloud-service provider Oracle Corporation to migrate most of its database systems to the cloud. The deal is the second of its kind this month with Telefonica forging an agreement with IBM to develop its first-ever Unica Next cloud-based 5G core network platform using IBM intelligent automation software and services.Per the Oracle deal, the Spain-based carrier will transfer all its internal and commercial operations data, including business intelligence services and billing, revenues, and customer management products to the cloud-based platform in tune with the evolving business conditions. It will be operated by Oracle in Telefonica’s datacenters to comply with European data laws. Moreover, this is likely to safeguard data security issues while keeping operating costs down as Telefonica has a debt-laden balance sheet.3.     Verizon Communications Inc. VZ has upgraded some of the features of its subsidiary BlueJeans that offers an interoperable cloud-based video conferencing service across a wide range of devices and conferencing platforms. The move is aimed to facilitate a seamless transition to a hybrid workplace with a spontaneous and engaging interactive digital platform as the work-from-home option continues to gain traction.Such technological innovations are likely to provide flexibility to remote workers and unlock workplace productivity and happiness. By creating a virtual space that simulates a real-life office environment where distributed teams can collate together to brainstorm, organize and socialize, BlueJeans aims to address a major hurdle in today’s hybrid work reality.4.   Nokia Corporation NOK has partnered with Slovenia-based telecommunications company — Telekom Slovenije — to power the latter’s fiber-to-the-home (FTTH) network with the deployment of avant-garde broadband equipment. Per the agreement, Telekom Slovenije will also capitalize on the Quillion chipset-powered Nokia ISAM FX series. The ISAM FX series involve high-capacity access nodes that have been specifically designed to deliver ultra-broadband services rapidly and cost-effectively. The deployment, which is scheduled to commence this year, will bring 10Gb/s fiber to Slovenia. Currently, the FTTH network caters to more than half of Slovenian households. The 10Gb/s fiber installation will enable these households to benefit from high-speed broadband connections.  5.    Ericsson ERIC has inked a 10-year 5G partnership deal with Digital Nasional Berhad (“DNB”) to deliver a nationwide 5G network in Malaysia. DNB is helping Malaysia to achieve its digital goals as outlined in the government’s MyDIGITAL blueprint, which plans to transform Malaysia into a digitally-driven, high-income country.DNB’s partnership with Ericsson covers the latter’s Radio System products and solutions, including Spectrum Sharing, cloud-native 5G Core, and 5G Radio Access Network. The Sweden-based telecom gear maker will supply its Managed Services offering, Ericsson Operations Engine. It will also provide operational support systems and business support systems solutions.Price PerformanceThe following table shows the price movement of some of the major telecom stocks over the past week and six months.Image Source: Zacks Investment ResearchIn the past five trading days, Juniper has been the best performer with its stock gaining 2.1% while Bandwidth has declined the most with its stock falling 12.7%.Over the past six months, Motorola has been the best performer with its stock appreciating 20.2% while Bandwidth has declined the most with its stock falling 44.3%.Over the past six months, the Zacks Telecommunications Services industry has gained 4.4% and the S&P 500 has rallied 10.5%.Image Source: Zacks Investment ResearchWhat’s Next in the Telecom Space?In addition to 5G deployments and product launches, all eyes will remain glued to how the administration implements key policy changes to safeguard the interests of the industry and address the bottlenecks to spur growth. Zacks’ Top Picks to Cash in on Artificial Intelligence This world-changing technology is projected to generate $100s of billions by 2025. From self-driving cars to consumer data analysis, people are relying on machines more than we ever have before. Now is the time to capitalize on the 4th Industrial Revolution. Zacks’ urgent special report reveals 6 AI picks investors need to know about today.See 6 Artificial Intelligence Stocks With Extreme Upside Potential>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report AT&T Inc. (T): Get Free Report Ericsson (ERIC): Get Free Report Verizon Communications Inc. (VZ): Get Free Report Nokia Corporation (NOK): Get Free Report Telefonica SA (TEF): Get Free Report Corning Incorporated (GLW): Get Free Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksSep 30th, 2021

EV Roundup: F Partners With Redwood, LI Trims Q3 Delivery Guidance & More

While Ford (F) ties up with Redwood Materials for EV battery recycling, Li Auto (LI) cuts delivery view for the third quarter of 2021 amid chip crisis. The electric vehicle (EV) revolution is accelerating, with companies leaving no stone unturned to establish a strong foothold in this domain. Consumers are demanding more electric options and manufacturers are also rising to the occasion. While EV makers are getting all charged up, countries, states, and cities are also stepping up their clean energy targets, turning the future in favor of e-mobility. The pressure for legacy automakers to make a transition from conventional fossil fuel vehicles has been mounting. In fact, last week, BMW AG and Daimler AG DDAIF were sued by a German environmental group for refusing to strengthen their carbon emission goals. While the car giants have plans to shift from petrol and diesel vehicles to green modes of transportation, the plaintiffs contend their strategies are inadequate to meet the global climate targets and are of the opinion that the companies need to set more ambitious goals, including terminating the sale of fossil-fuel cars by 2030. Rundown of the Week’s Most Important StoriesDaimler announced that it has joined forces with Stellantis and TotalEnergies in an EV battery venture in Europe to secure supplies for Mercedes-Benz. The auto biggie is set to hold a 33% interest in battery manufacturer Automotive Cells Company (ACC) — a joint venture established by Stellantis and TotalEnergies in 2020. The entire project is expected to be worth more than 7 billion euros to achieve a capacity of at least 120 gigawatt hours in Europe. By the end of the decade, Daimler’s investment in the battery facility venture is not likely to exceed $1.2 billion or 1 billion euros, starting with a mid-three-digit-million spending next year. ACC is set to commence supplying batteries for Mercedes-Benz by mid-decade.Ford F announced that it is partnering with Redwood Materials — a leading battery materials company — to make EVs more sustainable and economical for customers by building a domestic battery supply chain, creating recycling options for end-of-life vehicles, and enhancing battery production. The collaboration with Redwood will help ensure that the right infrastructure is in place to cost-effectively recycle the end-of-life Ford batteries for creating a solid pool of domestic raw materials and thus, making EVs economical. The U.S. auto giant has invested $50 million in Redwood to support the latter’s expansion in the United States.Li Auto LI lowered its third-quarter 2021 delivery guidance. The China-based EV maker now expects to deliver 24,500 vehicles in the third quarter, down from the previous projection of vehicle deliveries between 25,000 and 26,000 units. Amid heightened pandemic-induced concerns in Malaysia, the production of chips dedicated for Li Auto’s millimeter-wave radar supplier has been severely disrupted. This prompted the company to slash its delivery guidance for the third quarter. Li Auto currently carries a Zacks Rank #4 (Sell).Volkswagen AG VWAGY announced that it is commencing the construction of a production plant for battery systems in Hefei, China. The plant, named VW Anhui Components Company, will be the first of its kind to be fully owned by the China wing of the company and will begin production in second-half 2023. The Germany-based auto biggie presently operates an EV production plant together with JAC in Hefei, known as Volkswagen Anhui, and the new plant will be set up in its vicinity. The automaker plans to invest more than $164 million in the new plant by 2025. The initial capacity will be 150,000-180,000 battery systems annually for the company’s Anhui EV facility.Allison Transmission ALSN entered into a strategic collaboration partnership agreement with Jing-Jin Electric (“JJE”) to accelerate the development of best-in-class electrified powertrain solutions for global commercial vehicles. The collaboration aims to bank on JJE’s dominance in electric motor and inverter development, and its robust foothold in the commercial vehicle electrified powertrain market in China, while exploiting Allison’s expertise in fully electric and electric hybrid commercial duty propulsion systems. Additionally, Allison has pledged to provide debt financing to back on JJE North America’s efforts for commercial vehicle electric drive product development, testing and manufacturing.Blink Charging BLNK made two announcements that will expand its distribution channels and ease out the access of its sustainable EV charging stations. It announced that Sourcewell, a self-sustaining government organization offering contract purchasing solutions, has awarded it with a cooperative purchasing contract in the Electric Vehicle Supply Equipment category. The purchasing contract will make its EV chargers accessible to a broad range of entities. In another development, Blink signed an agreement with the city of San Antonio to install its first publicly accessible EV charging station at the San Antonio Zoo. The deal paves way for the deployment of 202 Level 2 charging stations and three DC fast-chargers across the city.Honda Motor HMC announced that it is targeting initial annual sales of 70,000 units for the all-new electric Prologue sport utility vehicle (SUV) when it first hits the U.S. market in 2024. The Honda Prologue SUV will be the first volume battery-electric vehicle for North America. In addition to Honda Prologue, the company will also unveil an all-electric Acura SUV in 2024 in North America. Both Honda Prologue SUV and Acura SUV will utilize General Motors’ Ultium-branded EV architecture and battery system. Honda currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.General Motors GM unveiled three new electric motors for Ultium-based EVs at the 2021 Mackinac Policy Conference. The motors — a 180-kilowatt front-drive motor, a 255-kW rear and front-drive motor, and a 62-kW all-wheel-drive assist motor — will power the automaker’s future EVs and debut on the 2022 GMC Hummer EV. These are designed in-house by General Motors. Additionally, the company has developed the software for Ultium Drive’s motor controllers, which, per the auto biggie, is crucial for catering to the propulsion needs of various vehicle types with a minimal set of components. This new controller is also going to be first integrated into the GMC Hummer EV. In a separate development, General Motors announced an investment of $300 million in China’s autonomous driving startup Momenta.Price PerformanceThe following table shows the price movement of some of the major EV players over the past week and six-month period.Image Source: Zacks Investment ResearchIn the past six months, all stocks have decreased apart from Tesla, XPeng and Li Auto. Lordstown bore the maximum brunt, with shares declining more than 33%. The past week also displayed a mixed price trend, with Canoo registering the maximum gain.Li Auto was the worst performer of the past week, with its shares sliding 10.2%. In fact, close peers XPeng and NIO also dipped 9.4% and 5.6%, respectively. The big dip in these companies was sparked amid fears that the highly indebted China-based real-estate developer Evergrande Group could possibly collapse, resulting in a wave of defaults in China's bloated property market.What’s Next in the Space?Stay tuned for announcements of upcoming EV models and any important updates from the red-hot industry. Also, watch out for September delivery updates from NIO, Li Auto and XPeng that are set to be reported later this week. Zacks Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all. You know this company from its past glory days, but few would expect that it's poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks' Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.Free: See Our Top Stock and 4 Runners Up >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Ford Motor Company (F): Free Stock Analysis Report Daimler AG (DDAIF): Free Stock Analysis Report Honda Motor Co., Ltd. (HMC): Free Stock Analysis Report General Motors Company (GM): Free Stock Analysis Report Allison Transmission Holdings, Inc. (ALSN): Free Stock Analysis Report Blink Charging Co. (BLNK): Get Free Report Volkswagen AG (VWAGY): Free Stock Analysis Report Li Auto Inc. Sponsored ADR (LI): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksSep 27th, 2021

TSMC soars 10% after beating earnings and announcing $44 billion plan to combat chip shortages

The expansion will help alleviate the ongoing supply chain disruptions, which in turn could help tame rising prices as supply catches up with demand. Taiwan Semiconductor Manufacturing Co.ReutersTaiwan Semiconductor surged as much as 10% on Thursday after its fourth-quarter earnings beat estimates.The chip giant also announced plans to invest $44 billion in manufacturing in 2022.The ramp-up in production comes as supply chain disruptions still impact the chip industry.Sign up here for our daily newsletter, 10 Things Before the Opening Bell.Taiwan Semiconductor stock soared as much as 10% on Thursday after the chip manufacturer reported strong fourth-quarter earnings and announced plans to invest up to $44 billion in 2022.The company reported Q4 earnings per share of $1.15, beating estimates by $0.04. Revenue grew 24% year-over-year to $15.7 billion in the quarter, also topping views. CFO Wendell Huang said "strong demand for our industry-leading 5-nanometer technology" contributed to the gains.The solid results from TSMC come as supply chain disruptions in the semiconductor space impact various end markets like automobiles, video game consoles, and major appliances.  TSMC is earmarking $40 billion to $44 billion for capital spending in 2022, representing an almost 50% jump from its previous record annual spend of $30 billion in 2021. The company previously said it expects to invest $100 billion through 2023 to expand its manufacturing capacity. The expansion should help alleviate the ongoing supply chain disruptions, which in turn could help tame rising prices as a surge in supply of goods materializes. But it could still take time for the supply of chips to catch up to the rising demand, according to comments made by TSMC CEO C.C. Wei.Wei said the ongoing chip crunch "may or may not persist" in 2022. But while some sectors, like smartphones, could see a drop in demand for semiconductors, TSMC expects that to offset by rising demand from other industries like autonomous driving vehicles, 5G, and artificial intelligence. Markets InsiderRead the original article on Business Insider.....»»

Category: topSource: businessinsiderJan 13th, 2022

Aritzia Reports Third Quarter Fiscal 2022 Financial Results

Net revenue increased by 62.9% to $453.3 millionAdjusted EBITDA doubled to $109.3 million from $54.6 millionNet Income increased by 112.9% to $64.9 million VANCOUVER, BC, Jan. 12, 2022 /CNW/ - Aritzia Inc. (TSX:ATZ) ("Aritzia" or the "Company"), a vertically integrated, innovative design house offering Everyday Luxury online and in its boutiques, today announced its third quarter financial results for fiscal 2022 ended November 28, 2021. "Our exceptional performance continued through the third quarter of fiscal 2022. Our net revenue growth of 63% was driven by an outstanding client response to our Fall and Winter product across all geographies and all channels. Sales growth in the United States sustained unprecedented momentum, increasing 115% and representing 44% of our total revenue in the quarter. Our eCommerce business continued to surge, increasing 47% on top of the 79% increase we saw in the third quarter last year. Our retail business flourished, as comparable sales in our boutiques grew 58% from fiscal 2021, whilst continuing to exceed pre-pandemic levels with retail comps growing 26% from fiscal 2020." said Brian Hill, Founder, Chief Executive Officer and Chairman. "Our strong performance has continued in the fourth quarter to date, despite the recent resurgence of COVID-19, associated supply chain and labour headwinds. As I reflect on our brand acceleration, new client acquisition and the performance of our business in the United States, I see extraordinary opportunities for Aritzia. Our business has never been stronger or better positioned for growth, as we continue to drive digital innovation of our eCommerce channel and Omni capabilities, accelerate boutique growth, expand our product assortment, and acquire new clients, all while continuing to strategically invest in our infrastructure and growing our team of world-class talent. I am deeply grateful for our teams' constant agility, dedication to excellence and tireless hard work that are propelling us toward our goals." concluded Mr. Hill. Third Quarter Highlights Net revenue increased by 62.9% to $453.3 million from Q3 2021 and 69.6% from Q3 2020 eCommerce revenue increased by 46.9% to $148.0 million from Q3 2021 and 162.2% from Q3 2020, comprising 32.6% of net revenues in Q3 2022 Retail revenue increased by 72.0% to $305.3 million from Q3 2021 and 44.8% from Q3 2020, achieving comparable sales growth of 58% compared to Q3 2021 and 26% compared to pre-COVID-19 Q3 2020 Gross profit margin(1) increased to 46.4% from 45.3% in Q3 2021 and 44.7% in Q3 2020 Adjusted EBITDA(1) increased to $109.3 million from $54.6 million in Q3 2021 and $58.4 million in Q3 2020 Adjusted Net Income(1) of $0.61 per diluted share, compared to $0.29 per diluted share in Q3 2021 and $0.32 per diluted share in Q3 2020 (1) Unless otherwise indicated, all amounts are expressed in Canadian dollars. The Company's third quarter results include the consolidation of CYC Design Corporation ("CYC") which closed on June 25, 2021. Due to the material impact of COVID-19 on business operations in fiscal 2021 and 2022, certain references to Q3 2020 and YTD 2020 have been included where Management deems to be a more meaningful measurement of the Company's performance. Certain metrics, including those expressed on an adjusted or comparable basis, are non-IFRS measures. See "Non-IFRS Measures including Retail Industry Metrics" and "Selected Consolidated Financial Information".   Third Quarter Results Compared to Q3 2021 (in thousands of Canadian dollars, unless otherwise noted) Q3 2022 13 weeks Q3 2021 13 weeks Variance Q3 2022 to Q3 2021 % % pts eCommerce Revenue $ 147,978 32.6% $ 100,737 36.2% 46.9% Retail Revenue 305,345 67.4% 177,517 63.8% 72.0% Net revenue 453,323 100.0% 278,254 100.0% 62.9% Gross profit 210,142 46.4% 126,083 45.3% 66.7% 1.1% SG&A 110,084 24.3% 74,707 26.8% 47.4% (2.5%) Adjusted EBITDA(1) $ 109,289 24.1% $ 54,565 19.6% 100.3% 4.5% Adjusted Net Income(1)      per diluted share $ 0.61 $ 0.29 110.3% Net revenue increased by 62.9% to $453.3 million, compared to $278.3 million in Q3 2021. The Company continues to see an unprecedented acceleration of sales in the United States, where net revenues increased by 115.1% to C$198.7 million, compared to C$92.4 million in Q3 2021. eCommerce revenue increased by 46.9% to $148.0 million, compared to $100.7 million in Q3 2021. The Company's eCommerce business continued its momentum, building on the 78.5% increase in Q3 2021. Retail revenue increased by 72.0% to $305.3 million, compared to $177.5 million in Q3 2021. The increase in revenue was led by outstanding performance of our comparable and new boutiques in the United States, as well as, strong double digit comparable sales growth in Canada. For the first time since the start of the pandemic, all of the Company's boutiques were open for the entire duration of the quarter, with one new boutique opened in the United States. Store count at the end of Q3 totaled 105 compared to 101 boutiques at the end of Q3 2021. Gross profit increased by 66.7% to $210.1 million, compared to $126.1 million in Q3 2021. Gross profit margin was 46.4%, compared to 45.3% in Q3 2021. The improvement in gross profit margin was primarily due to leverage on occupancy costs, the strengthening of the Canadian dollar and lower markdowns, partially offset by lower rent abatements and higher freight costs as a result of global supply chain disruptions. Selling, general and administrative ("SG&A") expenses increased by 47.4% to $110.1 million, compared to $74.7 million in Q3 2021. SG&A expenses were 24.3% of net revenue, compared to 26.8% in Q3 2021. The increase in SG&A expenses was primarily due to variable selling costs associated with the increase in revenue and continued investment in talent and technology. Adjusted EBITDA(1) was $109.3 million or 24.1% of net revenue, an increase of 100.3% compared to $54.6 million or 19.6% of net revenue in Q3 2021. Net income was $64.9 million, an increase of 112.9% compared to $30.5 million in Q3 2021. Adjusted Net Income(1) was $71.2 million, an increase of 121.2% compared to $32.2 million in Q3 2021. Adjusted Net Income(1) per diluted share was $0.61, an increase of 110.3% compared to $0.29 in Q3 2021. Cash and cash equivalents at the end of Q3 totaled $305.9 million compared to $174.0 million at the end of Q3 2021. In the last twelve months, the Company has repaid its $75.0 million term loan and funded the acquisition of CYC for $32.9 million. The Company currently has zero drawn on its revolving credit facility. Inventory at the end of Q3 was $176.9 million, compared to $138.1 million at the end of Q3 2021. The Company continues to maintain a healthy inventory position despite global supply chain disruptions. Capital cash expenditures (net of proceeds from lease incentives) were $20.3 million in Q3 2022, compared to $10.4 million in Q3 2021. YTD 2022 Compared to YTD 2021 (in thousands of Canadian dollars, unless otherwise noted) YTD 2022 39 weeks YTD 2021 39 weeks Variance YTD 2022 to YTD 2021 % % pts eCommerce Revenue $ 382,372 36.4% $ 276,065 46.8% 38.5% Retail Revenue 667,936 63.6% 313,733 53.2% 112.9% Net revenue 1,050,308 100.0% 589,798 100.0% 78.1% Gross profit 475,446 45.3% 209,580 35.5% 126.9% 9.8% SG&A 272,581 26.0% 178,369 30.2% 52.8% (4.2%) Adjusted EBITDA(1) $ 223,082 21.2% $ 41,607 7.1% 436.2% 14.1% Adjusted Net Income (1) per      diluted share $ 1.19 $ 0.07 1,600.0% Net revenue increased by 78.1% to $1.1 billion, compared to $589.8 million in YTD 2021. The Company has seen an unprecedented acceleration of sales in the United States, where net revenues increased by 144.5% to C$459.3 million, compared to C$187.9 million in YTD 2021. Gross profit increased by 126.9% to $475.4 million, compared to $209.6 million in YTD 2021. Gross profit margin was 45.3% compared to 35.5% in YTD 2021. The improvement in gross profit margin was primarily due to leverage on occupancy costs, the strengthening of the Canadian dollar and lower markdowns, partially offset by lower rent abatements and higher freight costs as a result of global supply chain disruptions. SG&A expenses increased by 52.8% to $272.6 million, compared to $178.4 million in YTD 2021. SG&A expenses were 26.0% of net revenue compared to 30.2% of net revenue in YTD 2021. Excluding the benefit of government payroll subsidies, the increase in SG&A expenses was 36.2%. The increase in SG&A expenses was primarily due to variable selling costs associated with the increase in revenue and continued investment in talent and technology. Adjusted EBITDA(1) was $223.1 million, or 21.2% of net revenue, compared to $41.6 million, or 7.1% of net revenue in YTD 2021. Net income was $122.7 million, compared to $3.2 million in YTD 2021. Adjusted Net Income(1) was $137.3 million, compared to $8.4 million in YTD 2021. Adjusted Net Income(1) per diluted share was $1.19, compared to $0.07 for the YTD 2021. (1) See "Non-IFRS Measures including Retail Industry Metrics" and "Selected Consolidated Financial Information" below, including for a reconciliation of the non-IFRS measures used in this release to the most comparable IFRS measures. See also sections entitled "How We Assess the Performance of our Business", "Non-IFRS Measures including Retail Industry Metrics" and "Selected Consolidated Financial Information" in the Management's Discussion and Analysis for further details concerning Adjusted EBITDA, Adjusted Net Income and Adjusted Net Income per diluted share and free cash flow including definitions and reconciliations to the relevant reported IFRS measure. Outlook Consistent with its communication throughout the pandemic, the Company is providing an update for its fourth quarter and fiscal 2022 outlook. Fourth quarter net revenues are anticipated to be in the range of $375 million to $400 million, representing a 40% to 50% increase compared to last year. This reflects the robust client demand and continued strength of the Company's business throughout the entire holiday selling season. However, since the beginning of January the Company has seen revenue pressure due to its third quarter and holiday sales significantly exceeding expectations and correspondingly resulting in meaningfully lower end-of-season sale inventory. That said, despite these headwinds the Company's business in the United States remains strong and the Company is well positioned for the launch of its exciting new Spring collection in February. Taking the above into consideration, Aritzia has increased its net revenue outlook for the remainder of fiscal 2022. The Company currently expects the following for fiscal 2022: Net revenue in the range of $1.425 billion to $1.45 billion, implying an increase of approximately 65% to 70% from fiscal 2021, up from the Company's previous outlook of $1.25 billion to $1.3 billion. The increase reflects the better than anticipated results in the third quarter and continued anticipated growth in the Company's eCommerce business and the unprecedented growth in our US business, as well as contribution from its retail expansion with: seven to eight new boutiques in the United States, including four opened through the end of the third quarter; with Tyson's Corner in Virginia opened already in the fourth quarter and The Forum Shops in Las Vegas, Easton Town Centre in Columbus and Aventura Mall in Miami slated to open prior to the end of the fiscal year; and six boutique expansions or repositions, including four locations in Canada and two in the United States. Five boutique expansions or repositions have already opened through the end of the third quarter and the sixth reposition already opened in the fourth quarter. Gross profit margin improvement seen in the third quarter compared to pre-COVID-19 levels in fiscal 2020 to be similar in the fourth quarter, despite higher expedited freight costs. SG&A dollar growth seen in the third quarter compared to pre-COVID-19 levels in fiscal 2020 to be similar in the fourth quarter, driven by continued investments in people, processes and technology in addition to variable costs related to sales growth. Net capital expenditures in the range of $55 million to $60 million, comprised of: boutique network growth, and ongoing investments in technology and infrastructure to enhance the Company's eCommerce capabilities and omni-channel experience, including capacity expansion at its Distribution Centre in the Greater Vancouver area. In addition to Aritzia's outlook above, CYC is expected to deliver approximately $7 million in net revenue and $1 million in Adjusted EBITDA(1) in the fourth quarter. Normal Course Issuer Bid In a separate press release issued today, the Company announced the commencement of a normal course issuer bid ("NCIB") through the facilities of the Toronto Stock Exchange to repurchase and cancel up to 3,732,725 of its subordinate voting shares ("Shares"), representing approximately 5.0% of the public float of 74,654,507, during the twelve month period commencing January 17, 2022 and ending January 16, 2023. Aritzia's Board of Directors believes that a normal course issuer bid represents an appropriate and desirable use of its available cash, after prioritizing investments in boutiques and strategic infrastructure, to increase shareholder value and is in the best interest of Aritzia and its shareholders. Appointment of Daniel Habashi to the Board of Directors The Company also announced that Daniel Habashi will join Aritzia's Board of Directors effective January 14, 2022. Mr. Habashi is the General Manager of TikTok Canada, overseeing content and operations for the market. Mr. Habashi is recognized by Report on Business Magazine as one of Canada's best executives. He served as Chief Marketing Officer of Soho House & Co from 2018 to 2020 and has held leadership positions at Instagram, Facebook and Microsoft from 2005 to 2017. Mr. Habashi holds ...Full story available on Benzinga.com.....»»

Category: earningsSource: benzingaJan 13th, 2022

4 Reasons Why You Should Add AbbVie (ABBV) to Your Portfolio

AbbVie (ABBV) has several new drugs with the potential to drive revenues once Humira loses U.S. exclusivity in 2023. Its early and mid-stage pipeline has several candidates with blockbuster potential. AbbVie ABBV is a good stock to own in the drug and biotech sector. An investor looking to invest his money in a relatively safe yet prospective sector can look to the drug and biotech sector, which includes large profitable companies. Their profits provide regular funds for innovation, which is the key to the growth of biotech companies.AbbVie has become one of the top-most pharma companies after it acquired Botox maker Allergan in a cash-and-stock deal for $63 billion in May 2020. AbbVie has one of the most popular cancer drugs in its portfolio, Imbruvica and its newest immunology drugs Skyrizi (risankizumab) and Rinvoq (upadacitinib) position it well for long-term growth.There are several reasons to own the stock.Good Rank and Rising Estimates & Share Price: AbbVie currently has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Earnings estimates for AbbVie’s earnings have risen from $13.99 per share to $14.09 per share for 2022 over the past 60 days. AbbVie’s stock has risen 33.4% in the past year compared with an increase of 22.2% for the industry.Image Source: Zacks Investment ResearchAllergan Deal Diversifies Portfolio: AbbVie’s acquisition of Allergan significantly expanded and diversified its revenue base with new therapeutic areas, enhancing its long-term growth potential. The acquisition strengthened AbbVie’s existing leadership position in immunology and hematological oncology while providing additional growth franchises in aesthetics and neuroscience.AbbVie’s rationale behind the Allergan deal was to add a new blockbuster product to its portfolio, Allergan’s Botox, ahead of generic competition for Humira. Humira generics are already denting revenues in Europe and are expected to be launched in the United States in 2023. AbbVie is heavily dependent on Humira and is looking to diversify its portfolio. Approved for therapeutic and aesthetic use, Botox is a key top-line driver for Allergan and looks fit to be the next revenue driver for AbbVie after Humira loses exclusivity in the United States.Successful New Drugs & Promising Pipeline: AbbVie has several new drugs in its portfolio, which have the potential to drive revenues once Humira loses U.S. exclusivity in 2023. Key recent FDA approvals include that of Oriahnn (elagolix) for reducing heavy menstrual bleeding (HMB) in premenopausal women with uterine fibroids in May 2020, Orilissa (elagolix) for management of pain associated with endometriosis, a common gynecologic disorder in July 2018, Ubrelvy, an oral CGRP for acute migraine in December 2019, Skyrizi (risankizumab) for plaque psoriasis in April 2019 and Rinvoq (upadacitinib) for moderate-to-severe rheumatoid arthritis (RA) in August 2019. Skyrizi and Rinvoq have demonstrated differentiated clinical profiles versus Humira and are gradually lowering AbbVie’s dependence on Humira. With many new indications coming in the next couple of years, sales of these drugs could be higher and have the potential to replace Humira when generics are launched in 2023. Meanwhile, new migraine drugs, Ubrelvy and Qulipta, represent a $1 billion-plus peak sales opportunity each.AbbVie also has an impressive late-stage pipeline with several early/mid-stage candidates that have blockbuster potential.Strong Oncology Portfolio: AbbVie has built a substantial oncology franchise with Imbruvica and Venclexta. It expects oncology to be its major growth driver over the next 10 years. AbbVie markets Venclexta/Venclyxto in partnership with Roche RHHBY and Imbruvica with J&J JNJ.AbbVie and Roche jointly commercialize Venclexta in the United States while AbbVie markets it outside the country.Imbruvica, currently approved for five hematologic cancers, has multi-billion-dollar potential. Several studies on AbbVie and J&J’s Imbruvica are ongoing to evaluate the drug alone or in combination in different patient segments. AbbVie and J&J are positioning Imbruvica as a “pipeline in a molecule.”  The treatment is in several company-sponsored studies.AbbVie and Roche are also studying Venclyxto/Venclexta to expand the label to address the broader relapsed/refractory chronic lymphocytic leukemia (CLL) patient population, expand into earlier lines of therapy, and broaden into other hematologic malignancies like multiple myeloma and AML. Label expansion approvals in the past couple of years have expanded the eligible patient population of Venclexta significantly, which is boosting sales from the drug.In 2020, AbbVie signed oncology deals with Genmab (jointly develop and commercialize Genmab's three early-stage investigational bispecific antibody therapeutics) and I-Mab Biopharma (development and commercialization of lemzoparlimab for multiple cancers) to boost the long-term growth of the hematology/oncology franchise.Another Stock to ConsiderAnother stock worth considering is Pfizer PFE, which has a Zacks Rank of 1 (Strong Buy). Pfizer’s stock has risen 56% in the past year.Estimates for Pfizer’s 2022 earnings have gone up from $4.77 to $5.50 over the past 30 days.Pfizer’s earnings performance has been mixed, with the company exceeding earnings expectations in three of the last four quarters while missing in one. PFE has a four-quarter earnings surprise of 10.85%, on average. Zacks Top 10 Stocks for 2022 In addition to the investment ideas discussed above, would you like to know about our 10 top picks for the entirety of 2022? From inception in 2012 through November, the Zacks Top 10 Stocks gained an impressive +962.5% versus the S&P 500’s +329.4%. Now our Director of Research is combing through 4,000 companies covered by the Zacks Rank to handpick the best 10 tickers to buy and hold. Don’t miss your chance to get in on these stocks when they’re released on January 3.Be First To New Top 10 Stocks >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Roche Holding AG (RHHBY): Free Stock Analysis Report Johnson & Johnson (JNJ): Free Stock Analysis Report Pfizer Inc. (PFE): Free Stock Analysis Report AbbVie Inc. (ABBV): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksJan 6th, 2022

Merger Date of PNM Resources (PNM) & AVANGRID Gets Extended

The merger deal between PNM Resources (PNM) and AVANGRID (AGR) gets extended to April 2023 from fourth-quarter 2021 as the proposal was turned down by the New Mexico Public Regulation Commission. PNM Resources PNM signs an amendment of the merger agreement with AVANGRID AGR for pushing the closure date to Apr 20, 2023, which is subject to a three-month extension by the mutual consent of the companies, based on various closing conditions. The merger can be terminated by both AGR and PNM under certain circumstances, including if the same is not completed within the stipulated time.The merger deal was announced in October 2020 and was expected to get completed in the fourth quarter of 2021, post the approval of the New Mexico Public Regulation Commission. However, the order for the approval of the merger got rejected, which would have otherwise fetched more than $300 million worth benefits for New Mexico customers and communities.New Mexico utility regulators felt that the deal's risks were more than the benefits to state ratepayers and consequently, rejected the proposed $8-billion acquisition.Motive Behind the MovePNM Resources’ long-standing expertise in fulfilling environmental regulations and its focus on developing cost-effective generation units to provide reliable and affordable power prompted AGR to defer the transaction instead of cancelling it. The acquisition will aid AVANGRID’s expansion of renewables business in the Southwest. Also, the scope and diversity of the combined business will augment its ability to invest in energy efficiency and new technologies.The combined entity will have an improved credit profile, greater financial flexibility and lower cost of capital. Given that AVANGRID's parent company is Iberdrola, S.A., funding of growth projects won’t be a concern. The deal will create a leading U.S. regulated utility and renewable energy platform, which seems lucrative to both companies.Clean Energy GoalsThe US government announced plans to generate carbon-free electricity by 2035 and reach net-zero emissions within 2050.The directive for utilities to cut down on emissions will help lower the release of harmful greenhouse gases. Companies from the Zacks Utilities sector were already setting targets to reduce their emissions much before the current administration unveiled its plans.PNM Resources is focused on exiting coal-fired generation by 2024 and intends to have an emissions-free generating portfolio by 2040. This will add cleaner energy sources to its production portfolio, thus becoming carbon neutral before 2045. New Mexico Legislation passed 100% carbon-free electricity target. In sync with the same, PNM will target an early exit at the end of 2024 from the Four Corners Power Plant. It expects an approval for the early retirement of the same in the fourth quarter of 2021.AVANGRID is the third largest wind and solar operator in the United States, with operations in 24 states having nearly 70 such facilities. AGR plans to create a clean generation portfolio with 90% renewables and the Scope 1 carbon neutrality goal by 2035. Also, it aims to reduce the Scope 1 greenhouse gas emissions by 35% within 2025 from the 2015 level. As of the third quarter of 2021, it invested nearly $616 million in renewables.Along with PNM and AGR, other electric utilities like CMS Energy Corporation CMS and Algonquin Power & Utilities Corp. AQN are adopting measures to meet clean energy targets.In December, CMS Energy’s subsidiary Consumer Energy inked a deal with Swisslane Farms to build a biodigester facility in Michigan, which will produce renewable natural gas. The move will enable CMS to inch closer to its goal of achieving net-zero methane emissions within2030.CMS Energy expects to make strategic investments to expand its renewable portfolio and spend $2.7 billion on renewable, including investments in wind, solar and hydroelectric generation resources during the 2021-2025 period.Algonquin has plans to invest $12.4 billion during the 2022-2026 time frame to strengthen its infrastructure and add renewable power to its generation portfolio.AQN’s renewable generation capacity represents more than 60% of its total generation capacity. It aims to achieve 75% renewable generation capacity by the end of 2023. Algonquin plans to become net zero by 2050.Zacks Rank & Price PerformanceThe stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.In the past six months, shares of PNM have lost 6.7% against the industry’s 9% growth.Image Source: Zacks Investment Research Infrastructure Stock Boom to Sweep America A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made. The only question is “Will you get into the right stocks early when their growth potential is greatest?” Zacks has released a Special Report to help you do just that, and today it’s free. Discover 5 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.Download FREE: How to Profit from Trillions on Spending for Infrastructure >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report CMS Energy Corporation (CMS): Free Stock Analysis Report PNM Resources, Inc. (PNM): Free Stock Analysis Report Avangrid, Inc. (AGR): Free Stock Analysis Report Algonquin Power & Utilities Corp. (AQN): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksJan 5th, 2022

Here"s Why You Should Buy Westlake (WLK) Stock Right Now

Westlake (WLK) benefits from strong demand for its products on continued global economic expansion, higher pricing and synergies of acquisitions. Shares of Westlake Chemical Corporation WLK have gained 15.6% over the past six months, outperforming its industry’s rise of 13% over the same time frame. The company, currently sporting a Zacks Rank #1 (Strong Buy), is benefiting from the global economic rebound, higher sales prices for most of its key products, and demand strength in building and construction materials business.We are positive on the company’s prospects and believe that the time is right for you to add the stock to the portfolio as it looks promising and is poised to carry the momentum ahead. Image Source: Zacks Investment Research Let’s delve deeper into the factors that make this chemical maker an attractive choice for investors right now.Estimates Going UpOver the past two months, the Zacks Consensus Estimate for Westlake Chemical for 2021 has increased around 9%. The consensus estimate for fourth-quarter 2021 has also been revised 9.7% upward over the same time frame. The favorable estimate revisions instill investor confidence in the stock.Solid Growth ProspectsThe Zacks Consensus Estimate for earnings for 2021 for Westlake Chemical is currently pegged at $15.59, reflecting an expected year-over-year growth of 580.8%. Earnings are also expected to register a 419.5% growth in fourth-quarter 2021.Impressive Earnings Surprise HistoryWestlake Chemical has outpaced the Zacks Consensus Estimate in each of the trailing four quarters. In this time frame, it has delivered an earnings surprise of 17.8%, on average.Growth Drivers in PlaceWestlake Chemical is benefiting from strong demand for most of its products on continued global economic expansion. It is gaining from higher demand in its polyethylene business in specialty applications, especially consumer product packaging, and strength in global demand for polyvinyl chloride (“PVC”) resin. The company is witnessing strong demand in the downstream building products business on the back of continued housing growth and spending on repair and remodeling activities.Strong demand in North American residential construction and the repair and remodeling markets is also driving prices of PVC resin. Westlake Chemical’s Olefins unit is also benefiting from higher prices of all products on the back of strong global demand.The company will also gain from its capacity expansion projects and actions to improve operating efficiency and reduce costs. It is also making disciplined investments, developing new products and leveraging its current products and footprint globally.Westlake Chemical should also benefit from synergies of acquisitions. The company, in its third-quarter call, said that it expects that the recently completed acquisitions of LASCO Fittings, Boral North America and Dimex, totaling around $2.6 billion, will initiate a stage of development and growth for its building products business. It is optimistic that the investments will strengthen its footprint in the sustainable building product markets and provide long-term growth opportunities.The company, in Nov 2021, formed a definitive agreement with Hexion Inc. to acquire the latter’s global epoxy business. The deal will add a downstream portfolio of coatings and composite products to its chloro-vinyls businesses. This will enable the company to expand its integrated business. The industries served by Hexion Epoxy are lucrative to Westlake and promise to be a synergistic addition to its existing businesses.Stocks to ConsiderOther top-ranked stocks worth considering in the basic materials space include Albemarle Corporation ALB, Commercial Metals Company CMC and Olin Corporation OLN. Albemarle, currently sporting a Zacks Rank #1, has an expected earnings growth rate of 49.8% for the current year. The Zacks Consensus Estimate for ALB's current-year earnings has been revised 9.2% upward over the past 60 days. You can see the complete list of today’s Zacks #1 Rank stocks here.Albemarle beat the Zacks Consensus Estimate for earnings in each of the trailing four quarters, the average being 22.1%. ALB has rallied around 39% in a year.Commercial Metals, carrying a Zacks Rank #1, has a projected earnings growth rate of 10.5% for the current fiscal year. CMC's consensus estimate for the current fiscal year has been revised 6.6% upward over the past 60 days.Commercial Metals beat the Zacks Consensus Estimate for earnings in three of the last four quarters while missed once. It has a trailing four-quarter earnings surprise of roughly 7.4%, on average. CMC has rallied around 60% in a year.Olin currently carries a Zacks Rank #2 (Buy). OLN has a projected earnings growth rate of 4.2% for the current year.The Zacks Consensus Estimate for Olin's current-year earnings has been revised 5.9% upward over the past 60 days. OLN shares have popped around 106% in a year. Infrastructure Stock Boom to Sweep America A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made. The only question is “Will you get into the right stocks early when their growth potential is greatest?” Zacks has released a Special Report to help you do just that, and today it’s free. Discover 5 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.Download FREE: How to Profit from Trillions on Spending for Infrastructure >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Westlake Chemical Corporation (WLK): Free Stock Analysis Report Albemarle Corporation (ALB): Free Stock Analysis Report Commercial Metals Company (CMC): Free Stock Analysis Report Olin Corporation (OLN): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksJan 5th, 2022

Tesla Will Recouple With Reality When The Bulls Least Expect It

Stanphyl Capital’s commentary for the month ended December 31, 2021, discussing their short position in Tesla Inc (NASDAQ:TSLA). Q3 2021 hedge fund letters, conferences and more Tesla’s Absurd Diluted Market Cap We remain short the biggest bubble in modern stock market history, Tesla Inc. (TSLA), which has a completely absurd diluted market cap of almost […] Stanphyl Capital’s commentary for the month ended December 31, 2021, discussing their short position in Tesla Inc (NASDAQ:TSLA). if (typeof jQuery == 'undefined') { document.write(''); } .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles .af-body.af-standards input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get Our Activist Investing Case Study! Get the entire 10-part series on our in-depth study on activist investing in PDF. Save it to your desktop, read it on your tablet, or print it out to read anywhere! Sign up below! (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q3 2021 hedge fund letters, conferences and more Tesla's Absurd Diluted Market Cap We remain short the biggest bubble in modern stock market history, Tesla Inc. (TSLA), which has a completely absurd diluted market cap of almost $1.2 trillion despite a steadily sliding share of the world’s EV market and a share of the overall auto market that’s only around 1.1% (yes, one POINT one percent). At some point when momentum-riding Tesla bulls (or, for that matter, bears) least expect it, TSLA will recouple with “reality,” and that’s why I continue to maintain a short position. So here’s “reality”… Tesla has no “moat” of any kind; i.e., nothing meaningfully proprietary in terms of electric car technology, while existing automakers—unlike Tesla­—have a decades-long “experience moat” of knowing how to mass-produce, distribute and service high-quality cars consistently and profitably. Excluding sunsetting emission credit sales Tesla is barely profitable. Growth in sequential unit demand for Tesla’s cars is at a crawl relative to expectations. Elon Musk is a pathological liar who under the terms of his SEC settlement cannot deny having committed securities fraud. Many Tesla bulls sincerely believe that ten years from now the company will be twice the size of Volkswagen or Toyota, thereby selling around 21 million cars a year (up from the current one million). To illustrate how utterly clueless this is, going from a million cars a year today to 21 million in ten years means Tesla would have to add a brand new 500,000 car/year factory with sold out production EVERY single quarter for ten years! To do this even in twenty years would require adding a new factory with sold out production every six months, at which point Tesla would then be approximately twice the size of Toyota (current market cap: $257 billion) or Volkswagen (current market cap: $130 billion), making a Tesla twenty times its current size worth perhaps $500 billion in twenty years. If you discount that $500 billion back by 15% a year (which is likely a much smaller return than any Tesla bull expects) for twenty years, you get a net present value for Tesla stock of approximately $30 a share, down over 97% from 2021’s closing price. That’s why when idiot Tesla bulls look at the company’s current large trailing percentage growth from its recent tiny base and extrapolate that into the future they’re being, well… idiot Tesla bulls! Q3 Deliveries In October Tesla reported Q3 deliveries of 241,000 cars, a 40,000-unit gain over Q2 that’s a rounding error for an auto company trading at even one-tenth of Tesla’s valuation. (For Q4 the gain is expected to be another 45-50,000.) If in any quarter GM or VW or Toyota sold 2.04 million vehicles instead of 2 million or 1.96 million, no one would pay the slightest bit of attention to the difference. Seeing as Tesla is now being valued at over fourteen GMs, it’s time (as noted above) to start looking at its relatively tiny numerical sequential sales growth, rather than Wall Street’s sell-side hype of “percentage off a small base.” In other words, if you want to be valued at a giant multiple of “the big boys,” you should be treated as a big boy. Perhaps the biggest reason Tesla has recently been able to post marginally increasing sequential quarterly deliveries is because competitors’ production (and thus inventories) are at the lowest level in decades due to the massive chip shortage, thereby eliminating a number of “Tesla alternatives.” Meanwhile, Tesla is enjoying record production because Musk (a notorious “corner-cutter”) is apparently willing to substitute untested, non-auto-grade chips for the more durable chips he can’t get; please see my Twitter post about this. A favorite hype story from Tesla bulls has been “the China market” and its “record” number of 73,659 Q3 deliveries there. Let’s put this in perspective: this was only around 4000 more cars than in Q1 and only around 11,000 more than in Q2—again, these are “growth” rounding errors. (Thanks to drastically slashed production from chip-starved competitors, look for around 30,000 more in Q4.) And that “record” Q3 China quarter gave it just 1.5% of the overall passenger vehicle market and just 11% of the BEV market, and it had so much excess capacity that it exported tens of thousands of cars to Europe. Remember when Musk claimed that Tesla’s Chinese domestic demand alone would need multiple factories to satisfy? Ah, the good old days! Meanwhile, Tesla remains a lousy business. In its Q3 earnings report the company claimed it made around $1.3 billion in free cash flow (defined as operating cash flow less capex). However, this number appears to be entirely due to working capital adjustments and not from the business itself. Let me explain: Tesla claimed operating cash flow of around $3.2 billion for the quarter, but this came with the benefit of accounts payable increasing by $702 million, receivables declining by $167 million and accrued liabilities up by $665 million while (detrimentally) prepaid expenses increased by $144 million. Adjusting for that massive net working capital benefit, operating cash flow was only a bit over $1.8 billion and with capex at $1.8 billion it means Tesla’s Q3 free cash flow was essentially zero, and if you deduct stock comp (a non-cash item paid through share dilution) it was around negative $500 million. Also in its Q3 report Tesla claimed it made around $1.45 billion in net income after excluding $279 million of pure-profit emission credit sales (excluded because they’ll almost entirely disappear some time next year when other automakers will have enough EVs of their own), and after adding back a $50 million Bitcoin write-down. However, that earnings number also includes what I estimate to be Tesla’s usual $300 million or so in unsustainably low warranty provisioning, and after adjusting for that and assuming no other fraudulent accounting, Tesla only earned around $1.06/share, which annualizes to $4.24. An auto industry PE multiple of 10x would thus make TSLA worth around $42/share (admittedly, more than the “$0” I once expected), while a “growth multiple” of 20x would value it at $84, which is a 92% discount to December’s closing price of around $1057. And before you tell me that a 100% premium to the industry’s PE ratio isn’t enough, keep in mind that—as noted earlier—Tesla’s sequential unit growth is an auto industry rounding error. In fact, one could argue that Tesla’s multiple should carry a discount, considering the massive legal and financial liabilities continually generated by its pathologically lying CEO. Full Self Driving Meanwhile Tesla continues to sell (and book cash flow, if not accounting revenue from) its fraudulent & dangerous so-called “Full Self Driving.” In a sane regulatory environment Tesla having done this for five years now… …would be considered “consumer fraud,” and indeed the regulatory tide may finally be turning, as in August two U.S. Senators demanded an FTC investigation and in October the NHTSA appointed a harsh critic of this deadly product to advise on its regulation. (For all known Tesla deaths see here.) Are major write-downs and refunds on the way, killing the company’s slight “claimed profitability”? Stay tuned! Meanwhile, Guidehouse Insights continues to rate Tesla dead last among autonomous competitors: Another favorite Tesla hype story has been built around so-called “proprietary battery technology.” In fact though, Tesla has nothing proprietary there—it doesn’t make them, it buys them from Panasonic, CATL and LG, and it’s the biggest liar in the industry regarding the real-world range of its cars. And if new-format 4680 cells enter the market some time in 2022 (as is now expected), even if Tesla makes some of its own, other manufacturers will gladly sell them to anyone. Tesla Build Quality Remains Awful Meanwhile, Tesla build quality remains awful (it ranks second-to-last in the latest Consumer Reports reliability survey and in the bottom 10% of the latest J.D. Power survey) and its worst-rated Model Y faces current (or imminent) competition from the much better built electric Audi Q4 e-tron, BMW iX3, Mercedes EQB, Volvo XC40 Recharge, Volkswagen ID.4, Ford Mustang Mach E, Nissan Ariya, Hyundai Ioniq 5 and Kia EV6. And Tesla’s Model 3 now has terrific direct “sedan competition” from Volvo’s beautiful Polestar 2, the great new BMW i4 and the premium version of Volkswagen’s ID.3 (in Europe), plus multiple local competitors in China. And in the high-end electric car segment worldwide the Audi e-tron (substantially improved for 2022!) and Porsche Taycan outsell the Models S & X (and the newly updated Tesla models with their dated exteriors and idiotic shifters & steering wheels won’t change this), while the spectacular new Mercedes EQS, Audi e-Tron GT and Lucid Air make the Tesla Model S look like a fast Yugo, while the extremely well reviewed new BMW iX does the same to the Model X. And oh, the joke of a “pickup truck” Tesla previewed in 2019 (and still hasn’t shown in production-ready form) won’t be much of “growth engine” either, as it will enter a dogfight of a market; in fact, Ford’s terrific 2022 all-electric F-150 Lightning now has nearly 200,000 retail reservations (plus many more fleet reservations), Rivian’s pick-up has gotten fantastic early reviews, and in January GM will introduce its electric Silverado. Regarding safety, as noted earlier in this letter, Tesla continues to deceptively sell its hugely dangerous so-called “Autopilot” system, which Consumer Reports has completely eviscerated; God only knows how many more people this monstrosity unleashed on public roads will kill despite the NTSB condemning it. Elsewhere in safety, in 2020 the Chinese government forced the recall of tens of thousands of Teslas for a dangerous suspension defect the company spent years trying to cover up, and now Tesla has been hit by a class-action lawsuit in the U.S. for the same defect. Tesla also knowingly sold cars that it knew were a fire hazard and did the same with solar systems, and after initially refusing to do so voluntarily, it was forced to recall a dangerously defective touchscreen. In other words, when it comes to the safety of customers and innocent bystanders, Tesla is truly one of the most vile companies on Earth. Meanwhile the massive number of lawsuits of all types against the company continues to escalate. So Here Is Tesla's Competition In Cars (Note: These Links Are Regularly Updated)... Porsche Taycan Porsche Taycan Cross Turismo Porsche Macan Electric SUV Officially Coming in 2023 Volkswagen ID.3 Headlines VW's Electrified Future Volkswagen ID.4 Electric SUV Volkswagen ID.Buzz electric van teased ahead of 2022 launch Volkswagen ID 6 to arrive with 435-mile range in 2023 Volkswagen Aero B: new electric Passat equivalent spied VW’s Cupra brand counts on performance for Born EV Cupra, VW brand to get entry-level battery-powered cars Audi e-tron Audi e-tron Sportback Audi E-tron GT Audi Q4 e-tron Audi Q6 e-tron confirmed for 2022 launch Audi previews long-range A6 e-tron EV Audi TT set to morph into all-electric crossover Hyundai Ioniq 5 Hyundai Ioniq 6 spotted ahead of 2022 launch Hyundai Kona Electric Genesis reveals their first EV on the E-GMP platform, the electric GV60 crossover Genesis Electrified GV70 Revealed With 483 Horsepower And AWD Kia Niro Electric: 239-mile range & $39,000 before subsidies Kia EV6: Charging towards the future Kia EV4 on course to grow electric SUV range Jaguar’s All-Electric i-Pace Jaguar to become all-electric brand; Land Rover to Get 6 electric models Daimler will invest more than $47B in EVs and be all-electric ready by 2030 Mercedes EQS: the first electric vehicle in the luxury class Mercedes EQS SUV takes shape Mercedes-Benz unveils EQE electric sedan with impressive 400-mile range Mercedes EQE SUV to rival BMW iX and Tesla Model X Mercedes EQC electric SUV available now in Europe & China Mercedes-Benz Launches the EQV, its First Fully-Electric Passenger Van Mercedes-Benz EQB Makes Its European Debut, US Sales Confirmed Mercedes-Benz unveils EQA electric SUV with 265 miles of range and ~$46,000 price Ford Mustang Mach-E Available Now Ford F-150 Lightning electric pick-up available 2022 Ford set to launch ‘mini Mustang Mach-E’ electric SUV in 2023 Ford to offer EV versions of Explorer, Aviator, ‘rugged SUVs' Volvo Polestar 2 Polestar 3 SUV Production Design Revealed. The US-built electric SUV will debut in 2022. Volvo XC40 Recharge Volvo C40 electric sedan to challenge Tesla Model 3, VW ID3 Polestar 3 will be an electric SUV that shares its all-new platform with next Volvo XC90 Chevy updates, expands Bolt EV family as price drops Cadillac All-Electric Lyriq Available Spring 2022 GMC ALL-ELECTRIC SUPERTRUCK HUMMER EV GM to build electric Silverado in Detroit with estimated range of more than 400 miles GMC to launch electric Hummer SUV in 2023 GM will offer 30 all-electric models globally by 2025 GM Launches BrightDrop to Electrify the Delivery of Goods and Services Nissan vows to hop back on EV podium with Ariya Nissan LEAF e+ with 226-mile range is available now Nissan Unveils $18 Billion Electric-Vehicle Strategy BMW leads off EV offensive with iX3 BMW expands EV offerings with iX tech flagship and i4 sedan BMW i7 Confirmed for 2022 Launch 2022 BMW iX1 electric SUV spied Rivian R1T Is the Most Remarkable Pickup We’ve Ever Driven Renault upgrades Zoe electric car as competition intensifies Renault Dacia Spring Electric SUV Renault to boost low-volume Alpine brand with 3 EVs Renault's electric Megane will debut new digital cockpit Stellantis promises 'heart-of-the-market SUV' from new, 8-vehicle EV platform Alfa Romeo is latest Stellantis brand to get all-electric future Peugeot e-208 PEUGEOT E-2008: THE ELECTRIC AND VERSATILE SUV Peugeot 308 will get full-electric version Subaru shows off its first electric vehicle, the Solterra SUV Citroen compact EV challenges VW ID3 on price Maserati to launch electric sports car Mini Cooper SE Electric Toyota’s Electric bZ4X Goes On Sale in Spring 2022 Toyota will have lineup of 30 full EVs by 2030; Lexus will be all-electric brand Opel sees electric Corsa as key EV entry 2021 Vauxhall Mokka revealed as EV with sharp looks, massive changes Skoda Enyaq iV electric SUV offers range of power, battery sizes Electric Skoda Enyaq coupe to muscle-in on Tesla Model 3 Skoda plans small EV, cheaper variants to take on French, Korean rivals Nio to launch in five more European countries after Norway BYD will launch electric SUV in Europe The Lucid Air Achieves an Estimated EPA Range of 517 Miles on a Single Charge Bentley converting to electric-only brand All-electric Rolls-Royce Spectre to launch in 2023 – firm to be EV-only by 2030 Aston Martin will build electric vehicles in UK from 2025 Meet the Canoo, a Subscription-Only EV Pod Coming in 2021 Two new electric cars from Mahindra in India; Global Tesla rival e-car soon Former Saab factory gets new life building solar-powered Sono Sion electric cars Foxconn aims for 10% of electric car platform market by 2025 And In China... How VW Group plans to dominate China's EV market VW Goes Head-to-Head With Tesla in China With New ID.4 Crozz Electric SUV Volkswagen’s ID.3 EV to be produced by JVs with SAIC, FAW in 2021 2022 VW ID.6 Revealed With Room For Seven And Two Electric Motors China-built Audi e-tron rolls off production line in Changchun Audi Q2L e-tron debuts at Auto Shanghai Audi will build Q4 e-tron in China Audi Q5 e-tron Confirmed For China Audi in cooperation company for local electric car production with FAW FAW Hongqi starts selling electric SUV with 400km range for $32,000 FAW (Hongqi) to roll out 15 electric models by 2025 BYD goes after market left open by Tesla with four cheaper models for budget-conscious buyers BYD said to launch premium NEV brand ‘Dolphin’ in 2022 Top of Form Bottom of Form Daimler & BYD launch DENZA electric vehicle for the Chinese market Geely announces premium EV brand Zeekr Geely, Mercedes-Benz launch $780 million JV to make electric smart-branded cars Mercedes styled Denza X 7-seat electric SUV to hit market Mercedes ‘makes mark’ with China-built EQC BMW, Great Wall to build new China plant for electric cars BAIC Goes Electric, & Establishes Itself as a Force in China’s New Energy Vehicle Future BAIC BJEV, Magna ready to pour RMB2 bln in all-electric PV manufacturing JV Toyota partners with BYD to build affordable $30,000 electric car Ford MUSTANG MACH-E ROLLS OFF ASSEMBLY LINE IN CHINA FOR LOCAL CUSTOMERS Lexus to launch EV in China taking on VW and Tesla GAC Aion about to start volume production of 1,000-km range AION LX GAC Toyota to ramp up annual capacity by 400,000 NEVs GAC kicks off delivery of HYCAN 007 all-electric SUV Nio – Ready For Tomorrow Nio steps up plans for mass-market brand to compete with VW, Toyota Xpeng Motors sells multiple EV models SAIC-GM to build Ultium EV platform in Wuhan Chevrolet Menlo Electric Vehicle Launched in China Buick Introduces New VELITE 6 EV with Extended Range Buick Velite 7 EV And Velite 6 PHEV Launch In China Dongfeng launches the all-electric Voyah  PSA to accelerate rollout of electrified vehicles in China SAIC, Alibaba-backed EV brand IM begins presale of first model L7 Hyundai Motor Transforming Chongqing Factory into Electric Vehicle Plant Polestar said to plan China showroom expansion to compete with Tesla Jaguar Land Rover's Chinese arm invests £800m in EV production Renault reveals series urban e-SUV K-ZE for China Renault & Brilliance detail electric van lineup for China Renault forms China electric vehicle venture with JMCG Honda to start sales of new EV-branded vehicles in China in 2022 Geely launches new electric car brand 'Geometry' – will launch 10 EVs by 2025 Geely, Foxconn form partnership to build cars for other automakers Fiat Chrysler, Foxconn Team Up for Electric Vehicles Baidu to create an intelligent EV company with automaker Geely Leapmotor starts presale of C11 electric SUV on Jan. 1 2021 Changan forms subsidiary Avatar Technology to develop smart EVs with Huawei, CATL WM Motors/Weltmeister Chery Seres Enovate China's cute Ora R1 electric hatch offers a huge range for less than US$9,000 Singulato JAC Motors releases new product planning, including many NEVs Seat to make purely electric cars with JAC VW in China Iconiq Motors Hozon Aiways Skyworth Auto Youxia CHJ Automotive begins to accept orders of Leading Ideal ONE Infiniti to launch Chinese-built EV in 2022 Human Horizons Chinese smartphone giant Xiaomi to launch electric car business with $10 billion investment Lifan Technology to roll out three EV models with swappable batteries in 2021 Here’s Tesla’s Competition In Autonomous Driving... Waymo ranked top & Tesla last in Guidehouse leaderboard on automated driving systems Tesla has a self-driving strategy other companies abandoned years ago Fiat Chrysler, Waymo expand self-driving partnership for passenger, delivery vehicles Waymo and Lyft partner to scale self-driving robotaxi service in Phoenix Volvo, Waymo partner to build self-driving vehicles Jaguar and Waymo announce an electric, fully autonomous car Renault, Nissan partner with Waymo for self-driving vehicles Geely’s Zeekr, Waymo partner on autonomous ride-hailing vehicle for the U.S. market Cruise and GM Team Up with Microsoft to Commercialize Self-Driving Vehicles Cadillac Super Cruise Sets the Standard for Hands-Free Highway Driving Honda Joins with Cruise and General Motors to Build New Autonomous Vehicle Honda launching Level 3 autonomous cars Volkswagen moves ahead with Autonomous Driving R&D for Mobility as a Service Volkswagen teams up with Microsoft to accelerate the development of automated driving VW taps Baidu's Apollo platform to develop self-driving cars in China Ford “Blue Cruise” ARGO AI AND FORD TO LAUNCH SELF-DRIVING VEHICLES ON LYFT NETWORK Hyundai and Kia Invest in Aurora Toyota, Denso form robotaxi partnership with Aurora Aptiv and Hyundai Motor Group complete formation of autonomous driving joint venture Amazon’s Zoox unveils electric robotaxi that can travel up to 75 mph Nvidia and Mercedes Team Up to Make Next-Gen Vehicles Daimler's heavy trucks start self-driving some of the way SoftBank, Toyota's self-driving car venture adds Mazda, Suzuki, Subaru Corp, Isuzu Daihatsu  Continental & NVIDIA Partner to Enable Production of Artificial Intelligence Self-Driving Cars Mobileye and Geely to Offer Most Robust Driver Assistance Features Mobileye Starts Testing Self-Driving Vehicles in Germany Mobileye and NIO Partner to Bring Level 4 Autonomous Vehicles to Consumers Lucid Chooses Mobileye as Partner for Autonomous Vehicle Technology Alibaba-backed AutoX unveils first driverless RoboTaxi production line in China Nissan gives Japan version of Infiniti Q50 hands-free highway driving Hyundai to start autonomous ride-sharing service in Calif. Pony.ai Receives Approval for Paid Autonomous Robotaxi Services in Beijing Baidu kicks off its robotaxi business, after getting the OK to charge fees in Beijing Toyota to join Baidu's open-source self-driving platform Baidu, WM Motor announce strategic partnership for L3, L4 autonomous driving solutions Volvo will provide cars for Didi's self-driving test fleet BMW and Tencent to develop self-driving car technology together BMW, NavInfo bolster partnership in HD map service for autonomous cars in China GM Invests $300 M in Momenta to deliver self-driving technologies in China FAW Hongqi readies electric SUV offering Level 4 autonomous driving Tencent, Changan Auto Announce Autonomous-Vehicle Joint Venture Huawei teams up with BAIC BJEV, Changan, GAC to co-launch self-driving car brands GAC Aion, DiDi Autonomous Driving to co-develop driverless NEV model BYD partners with Huawei for autonomous driving Lyft, Magna in Deal to Develop Hardware, Software for Self-Driving Cars Xpeng releases autonomous features for highway driving Nuro Becomes First Driverless Car Delivery Service in California Deutsche Post to Deploy Test Fleet Of Fully Autonomous Delivery Trucks ZF autonomous EV venture names first customer Magna’s new MAX4 self-driving platform offers autonomy up to Level 4 Groupe PSA’s safe and intuitive autonomous car tested by the general public Mitsubishi Electric to Exhibit Autonomous-driving Technologies in New xAUTO Test Vehicle Apple acquires self-driving startup Drive.ai Motional to begin robotaxi testing with Hyundai Ioniq 5 in Los Angeles JD.com Delivers on Self-Driving Electric Trucks NAVYA Unveils First Fully Autonomous Taxi Fujitsu and HERE to partner on advanced mobility services and autonomous driving Great Wall’s autonomous driving arm Haomo.ai receives investment from Meituan Plus.ai, Iveco to start L4 autonomous heavy-duty truck test in Europe, China T3 Mobility, IDRIVERPLUS to pilot Robotaxi operation in Suzhou with autonomous+manual model Here’s Where Tesla’s Competition Will Get Its Battery Cells... Panasonic (making deals with multiple automakers) LG Samsung SK Innovation Toshiba CATL BYD Volkswagen to Build Six Electric-Vehicle Battery Factories in Europe How GM's Ultium Battery Will Help It Commit to an Electric Future GM to develop lithium-metal batteries with SolidEnergy Systems Ford, SK Innovation announce EV battery joint venture BMW & Ford Invest in Solid Power to Secure All Solid-State Batteries for Future Electric Vehicles Stellantis, LG Energy Solution to form battery JV for N. American market Stellantis and Factorial Energy to Jointly Develop Solid-State Batteries for Electric Vehicles Toyota to build plant in N.C. capable of making up to 1.2M batteries a year Toyota Outlines Solid-State Battery Tech, $13.6 Billion Investment Nissan Announces Proprietary Solid-State Batteries Daimler joins Stellantis as partner in European battery cell venture ACC Renault signs EV battery deals with Envision, Verkor for French plants Nissan to build $1.4bn EV battery plant in UK with Chinese partner UK companies AMTE Power and Britishvolt plan $4.9 billion investment in battery plants Freyr Verkor Farasis Microvast Akasol Cenat Wanxiang Eve Energy Svolt Romeo Power ProLogium Hyundai Motor developing solid-state EV batteries Daimler Morrow Here’s Tesla’s Competition In Charging Networks... Infrastructure Bill: $7.5 billion Towards Nationwide Network of 500,000 EV Chargers Electrify America is spending $2 billion building a high-speed U.S. charging network 51 U.S. electric companies commit to build nationwide EV fast charging network by end of 2023 GM to distribute up to 10 chargers to each of its dealerships starting early 2022 General Motors and EVgo Boost Build Plan for High Power Fast Chargers Across the US Circle K Owner Plans Electric-Car Charging Push in U.S., Canada 191 U.S. Porsche dealers are installing 350kw chargers ChargePoint to equip Daimler dealers with electric car chargers GM and Bechtel plan to build thousands of electric car charging stations across the US Ford introduces 12,000 station charging network, teams with Amazon on home installation Shell Plans To Deploy Around 500,000 Charging Points Globally By 2025 Petro-Canada Introduces Coast-to-Coast Canadian Charging Network Volta is rolling out a free charging network Ionity Europe E.ON and Virta launch one of the largest intelligent EV charging networks in Europe Volkswagen plans 36,000 charging points for electric cars throughout Europe Smatric has over 400 charging points in Austria Allego has hundreds of chargers in Europe PodPoint UK charging stations BP Chargemaster/Polar is building stations across the UK Instavolt is rolling out a UK charging network Fastned building 150kw-350kw chargers in Europe Aral To Install Over 100 Ultra-Fast Chargers In Germany Deutsche Telekom launches installation of charging network for e-cars Total to build 1,000 high-powered charging points at 300 European service-stations NIO teams up with China’s State Grid to build battery charging, swapping stations Volkswagen-based CAMS launches supercharging stations in China Volkswagen, FAW Group, JAC Motors, Star Charge formally announce new EV charging JV BMW to Build 360,000 Charging Points in China to Juice Electric Car Sales BP, Didi Jump on Electric-Vehicle Charging Bandwagon Evie rolls out ultrafast charging network in Australia Evie Networks To Install 42 Ultra-Fast Charging Sites In Australia And Here’s Tesla’s Competition In Storage Batteries... Panasonic Samsung LG BYD AES + Siemens (Fluence) GE Bosch Hitachi ABB Toshiba Saft Johnson Contols EnerSys SOLARWATT Schneider Electric Sonnen Kyocera Generac Kokam NantEnergy Eaton Nissan Tesvolt Kreisel Leclanche Lockheed Martin EOS Energy Storage ESS UET electrIQ Power Belectric Stem ENGIE Redflow Renault Primus Power Simpliphi Power redT Energy Storage Murata Bluestorage Adara Blue Planet Tabuchi Electric Aggreko Orison Moixa Powin Energy Nidec Powervault Kore Power Shanghai Electric Schmid 24M Ecoult Innolith LithiumWerks Natron Energy Energy Vault Ambri Voltstorage Cadenza Innovation Morrow Gridtential Villara Elestor Thanks and Happy New Year, Mark Spiegel Updated on Jan 3, 2022, 11:25 am (function() { var sc = document.createElement("script"); sc.type = "text/javascript"; sc.async = true;sc.src = "//mixi.media/data/js/95481.js"; sc.charset = "utf-8";var s = document.getElementsByTagName("script")[0]; s.parentNode.insertBefore(sc, s); }()); window._F20 = window._F20 || []; _F20.push({container: 'F20WidgetContainer', placement: '', count: 3}); _F20.push({finish: true});.....»»

Category: blogSource: valuewalkJan 3rd, 2022

Auto Giants Bet on Battery Plants in 2021 for US Electric Future

Read on to know about the big battery investments made by GM, TM, F and STLA this year as they set the stage for a new wave of battery production in the United States. The automotive future is electric. For years, it seemed that Tesla TSLA was the only automaker that was playing at the forefront of the electric vehicle (EV) phenomenon and taking the concept of green vehicles seriously from a real-world functionality standpoint. However, things are changing as most of the automakers are now fast changing gears to electric.Climate concerns, stringent fuel-economy targets, and advancement in technology as well as charging infrastructure are boosting the EV market. Automakers across the globe have been revving up their e-mobility efforts to establish a strong foothold in this domain. They are making big investments and setting ambitious targets to electrify their fleet.While auto giants are on track to roll out more environment-friendly vehicles in the United States, it should be noted that battery cell production in the nation is rather limited. Most of the battery cells for green vehicles are produced in Asia (primarily in China, Japan and South Korea).Apart from Tesla’s Nevada gigafactory, which supplies battery cells for Models 3 and Y, there are only a handful of U.S. battery plants that are currently operational. However, in 2021, several auto biggies announced plans to step up battery production in the United States.  With batteries serving as the secret sauce for EVs, automakers are beginning to enhance their investments in battery production.Notably, the Department of Energy’s Vehicle Technologies Office issued a report last week, listing 13 new U.S. battery projects that are expected to be completed by around mid-decade, which is set to usher a new wave of battery production in the country. The list somehow missed TSLA, which is also deploying battery cell production capacity at the Austin Gigafactory.Below we have highlighted four auto biggies General Motors GM, Ford F, Toyota TM and Stellantis STLA, all of which made big bets on U.S. battery plants this year.General Motors: In April, General Motors and LG Energy announced plans to jointly invest more than $2.3 billion to build a battery manufacturing plant in Spring Hill, TN. This marked the firms’ second U.S. Ultium battery plant after they announced a $2.3-billion battery cell manufacturing plant in Lordstown, OH, in 2019. While the Ohio plant is expected to become operational in 2022, the facility in Tennessee will commence production in 2023. GM plans to set up two new battery cell manufacturing plants in the United States by mid-decade, in addition to the facilities in Ohio and Tennessee. Details of these plants are yet to be announced.In October, GM set the stage for battery tech innovation with the announcement of establishing a new research facility in Michigan — Wallace Battery Innovation Center. The Wallace Center will help General Motors reach its target of achieving a 60% reduction in battery costs by mid-decade. The lab is likely to develop its first prototype cells in fourth-quarter 2022. Early this month, GM teamed up with POSCO Chemical to form a JV to construct a factory in North America, which would process Cathode Active Material (CAM) for the automaker’s Ultium platform. The new facility will supply most of the CAM required by General Motors’ battery plants under construction in Ohio and Tennessee and two additional U.S. factories planned by mid-decade.This year, General Motors boosted electric and driverless investment to $35 billion through 2025, up from $27 billion proposed in November 2020. The automaker also plans to introduce more than 30 EV models globally by 2025, with more than two-thirds available in the United States. GM currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Ford: In September, Ford announced plans to establish twin battery plants in Kentucky and a technologically-advanced mega campus in Tennessee. The U.S. auto giant will partner with SK Innovation, and the firms will together invest $11.4 billion (with Ford’s share being $7 billion) for the same. Approximately $5.6 billion of the total outlay will go for building an all-new mega campus called Blue Oval City in Stanton, TN. The investment will create roughly 6,000 new jobs and revamp vehicle and battery designing, manufacturing, and recycling. Joining the Blue Oval City is a planned $5.8-billion, 1,500-acre BlueOvalSK battery manufacturing campus in Glendale, KY, which is targeted to commence operations in 2025. The twin lithium-ion battery plants on the site will create 5,000 jobs and are intended to supply Ford’s North American assembly plants with locally-assembled batteries for powering the next-generation electric Ford and Lincoln vehicles.The investment is part of Farley’s “Ford+” turnaround plan to make the automaker’s operations more profitable and create a niche in the trending sectors such as autonomous, electric, and connected vehicles. Ford has committed to invest more than $30 billion by 2025 for the electrification of its commercial and retail fleet by capitalizing on its strength, starting with the EV versions of its most popular models. The stock currently carries a Zacks Rank #3.Toyota: Early this month, Toyota announced plans to build the first battery factory in the United States in North Carolina to bring its EV supply chain to the country. The Japan-based automaker plans to invest $1.29 billion in the battery plant, to be named Toyota Battery Manufacturing, North Carolina (TBMNC). The facility is expected to create 1,750 new jobs and use 100% renewable energy to make the batteries. The production is anticipated to commence in 2025. TBMNC will initially have four production lines, each capable of manufacturing battery packs for around 200,000 cars annually. Toyota eventually aims to add two more lines, with the goal to rev up the total production capacity to battery packs sufficient for 1.2 million vehicles per year.The investment decision forms part of Toyota’s wider commitment to investing $3.4 billion (380 billion yen) for automotive battery development and production in the United States through 2030. To cater to the surging demand for clean energy vehicles in the United States, this Zacks Rank #3 (Hold) company targets EVs to account for nearly 70% of U.S. sales by 2030, up from almost 25% currently. TM expects to sell as many as 1.8 million electrified vehicles in the United States by 2030, including zero-emission models.Stellantis: In October, Stellantis entered into a joint venture deal with LG Energy to develop battery cells in North America. Per the deal, the companies will jointly establish a battery factory having an annual capacity of 40 gigawatt-hours (GWh) that will be functional by first-quarter 2024. In the same month, STLA also announced its collaboration with Samsung SDI for battery production in North America. With Samsung, it will develop a plant with an initial annual capacity of 23 GWh, having an expansion capacity up to 40 GWh. This plant is expected to become operational in 2025. Neither the associated cost nor the location of the factories has been disclosed yet. The agreements are in sync with Stellantis’ plans to invest more than €30 billion through 2025 in electrification and software development. In the United States, STLA aims for more than 40% of total sales to comprise low-emission vehicles within the same time period. The auto giant will deliver upon the electrification strategy by securing 130 gigawatt hours (GWh) of battery capacity by 2025, which will expand up to 260 GWh by 2030. Stellantis currently carries a Zacks Rank #3. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Ford Motor Company (F): Free Stock Analysis Report Toyota Motor Corporation (TM): Free Stock Analysis Report General Motors Company (GM): Free Stock Analysis Report Tesla, Inc. (TSLA): Free Stock Analysis Report Stellantis N.V. (STLA): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksDec 28th, 2021

HSBC to Buy L&T Investment, Boosts Wealth Franchise in Asia

To boost HSBC's asset management unit, the London-headquartered bank inks a deal to acquire India's L&T Investment Management Limited for $425 million. As part of the efforts to expand its wealth management business in Asia, HSBC Holdings plc’s HSBC indirect wholly-owned subsidiary HSBC Asset Management (India) Private Ltd has agreed to acquire L&T Investment Management Limited (LTIM) for $425 million. The purchase deal comes four months after HSBC inked a deal to buy AXA Insurance in Singapore for $575 million.LTIM is a wholly-owned subsidiary of L&T Finance Holdings Limited (LTFH) and the investment manager of the L&T Mutual Fund. LTIM facilitates a distribution platform, comprising leading banks, regional distributors, more than 50,000 independent financial advisers, ascertained digital platforms and a footprint covering 65 locations throughout India.Completion of the deal is subject to regulatory approvals and customary condition precedents, following which HSBC intends to integrate the operations of LTIM and its current asset management business in India, having an asset under management balance of $1.6 billion as of September 2021.The transaction will likely be funded using existing resources. It is expected to have a minimal impact on HSBC’s common equity tier 1 ratio, while being immediately accretive to the bank’s earnings following completion. A return on investment of greater than 10% in the medium term is expected by HSBC.LTFH will be entitled to excess cash in LTIM until the completion of the deal apart from the purchase consideration of $425 million. In the meantime, both LTIM and HSBC will warrant continuity of services to their investors and counterparties.Per HSBC CEO Noel Quinn, the acquisition refines its business competencies in India by enhancing its scale, expanding reach and capturing 15-20% annual asset management market growth that is expected in India over the next five years. The transaction helps HSBC inch closer to becoming a pioneering wealth manager in Asia.He further stated, “Together with our recent announcement to acquire AXA Singapore, this demonstrates our commitment to capturing the Asia wealth opportunity. We will continue to invest significantly to achieve that goal.”Surendra Rosha, HSBC’s co-chief executive Asia Pacific, added, “LTIM’s customer base and wide footprint in India will provide HSBC with much deeper access to a high-growth wealth management market. India’s rising income levels and higher life expectancy are driving an expanding and yet under-penetrated sector.”“The transaction with HSBC is in line with our strategic objective of unlocking value from our subsidiaries which will help us to strengthen our balance sheet for our lending business. When seen alongside the recent capital raise it provides us with enough ammunition to increase the pace of retailisation in our lending portfolio, which is one of our long-term goals," said, Dinanath Dubhashi, the managing director and CEO at LTFH.Augmenting HSBC’s asset management business in India will also amplify its capacity to serve the wealth needs of Indian consumers as well as those representing the growing non-resident Indian customer base globally.In February, HSBC announced that it is on an expansion spree in Asia. It plans to inject $3.5 billion worth of capital into its wealth and personal banking business in Asia, of which approximately two-thirds will be used to bolster its distribution competencies via new hires and technology improvements. The bank also announced plans of shifting capital from the underperforming businesses in Europe and the United States to Asia.HSBC’s Asia operations account for almost two-thirds of its adjusted profit before tax in the wealth and personal banking business.Our TakePer a Bloomberg article, India is one of HSBC’s largest markets and the bank made more than $1 billion in the country in 2020, making the country the lender’s third largest Asian profit center, following Hong Kong and mainland China.HSBC’s expansion plans in Asia are expected to help offset some of the adverse impacts that the low interest rate environment is persistently putting on its top line. Nevertheless, competition for fee-generating sustainable businesses in Asia might intensify over the medium term.So far this year, on the NYSE, shares of HSBC have gained 15.3% compared with the industry’s growth of 10.3%.Image Source: Zacks Investment ResearchCurrently, HSBC carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Inorganic Growth Efforts by Other FirmsSeveral companies from the finance sector are making consolidation efforts to counter the low-interest-rate environment and heightened costs of investments in technology.In early December, United Bankshares, Inc. UBSI announced the completion of its merger deal with Community Bankers Trust Corporation.The buyout brought together two high-performing banking companies. It also bolsters United Bankshares’ position as one of the largest and best-performing regional banking companies in the Mid-Atlantic and Southeast. The combined entity will now operate across 250 locations in opportunistic markets in the United States.First Financial Bancorp. FFBC agreed to acquire the fourth-largest independent equipment financing platform in the United States called Summit Funding Group. The deal completion, subject to customary closing conditions, is expected in the fourth quarter of this year.The acquisition of Summit is expected to be accretive to First Financial’s earnings per share by mid-single digits in 2023 (the first year post integration). Thereafter, on a run-rate basis, the deal is expected to be accretive to earnings by low-double digits.U.S. Bancorp’s USB primary subsidiary U.S. Bank completed the buyout of PFM Asset Management LLC. The acquisition was carried out through U.S. Bancorp Asset Management. The deal to acquire PFM Asset Management was announced this July.U.S. Bancorp’s several acquisitions over the past years have enabled the company to foray into untapped markets and fortify its footprint in existing geographies. More Stock News: This Is Bigger than the iPhone! It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market. Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.Click here for the 4 trades >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report U.S. Bancorp (USB): Free Stock Analysis Report First Financial Bancorp. (FFBC): Free Stock Analysis Report United Bankshares, Inc. (UBSI): Free Stock Analysis Report HSBC Holdings plc (HSBC): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksDec 25th, 2021

Check out 30 pitch decks from fintechs disrupting trading, banking, and lending that helped them raise millions

Looking for examples of real fintech pitch decks? Check out pitch decks that Qolo, Lance, and other startups used to raise money from VCs. Check out these pitch decks for examples of fintech founders sold their vision.Yulia Reznikov/Getty Images Insider has been tracking the next wave of hot new startups that are blending finance and tech.  Check out these pitch decks to see how fintech founders sold their vision. See more stories on Insider's business page. Fintech VC  funding hit a fresh quarterly record of $22.8 billion in the first three months of 2021, according to CB Insights data. While mega-rounds helped propel overall funding, new cash was spread across 614 deals. Insider has been tracking the next wave of hot new startups that are blending finance and tech. Check out these pitch decks to see how fintech founders are selling their vision and nabbing big bucks in the process. You'll see new financial tech geared at freelancers, fresh twists on digital banking, and innovation aimed at streamlining customer onboarding. A trading app for activismAntoine Argouges, CEO and founder of Tulipshare.TulipshareAn up-and-coming fintech is taking aim at some of the world's largest corporations by empowering retail investors to push for social and environmental change by pooling their shareholder rights.London-based Tulipshare lets individuals in the UK invest as little as one pound in publicly-traded company stocks. The upstart combines individuals' shareholder rights with other like-minded investors to advocate for environmental, social, and corporate governance change at firms like JPMorgan, Apple, and Amazon.The goal is to achieve a higher number of shares to maximize the number of votes that can be submitted at shareholder meetings. Already a regulated broker-dealer in the UK, Tulipshare recently applied for registration as a broker-dealer in the US. "If you ask your friends and family if they've ever voted on shareholder resolutions, the answer will probably be close to zero," CEO and founder Antoine Argouges told Insider. "I started Tulipshare to utilize shareholder rights to bring about positive corporate change that has an impact on people's lives and our planet — what's more powerful than money to change the system we live in?"Check out the 14-page pitch deck from Tulipshare, a trading app that lets users pool their shareholder votes for activism campaignsThe back-end tech for beautyDanielle Cohen-Shohet, CEO and founder of GlossGeniusGlossGeniusDanielle Cohen-Shohet might have started as a Goldman Sachs investment analyst, but at her core she was always a coder.After about three years at Goldman Sachs, Cohen-Shohet left the world of traditional finance to code her way into starting her own company in 2016. "There was a period of time where I did nothing, but eat, sleep, and code for a few weeks," Cohen-Shohet told Insider. Her technical edge and knowledge of the point-of-sale payment space led her to launch a software company focused on providing behind-the-scenes tech for beauty and wellness small businesses.Cohen-Shohet launched GlossGenius in 2017 to provide payments tech for hair stylists, nail technicians, blow-out bars, and other small businesses in the space.Here's the 11-page deck GlossGenius, a startup that provides back-end tech for the beauty industry, used to raise $16 millionPrivate market data on the blockchainPat O'Meara, CEO of Inveniam.InveniamFor investors in publicly-traded stocks, there's typically no shortage of company data to guide investment decisions. Company financials are easily accessible and vetted by teams of regulators, lawyers, and accountants.But in the private markets — which encompass assets that range from real estate to private credit and private equity — that isn't always the case. Within real estate, for example, valuations of a specific slice of property are often the product of heavily-worked Excel models and a lot of institutional knowledge, leaving them susceptible to manual error at many points along the way.Inveniam, founded in 2017, is a software company that tokenizes the business data of private companies on the blockchain. Using a distributed ledger allows Inveniam to keep track of who is touching the data and what they are doing to it. Check out the 16-page pitch deck for Inveniam, a blockchain-based startup looking to be the Refinitiv of private-market dataHelping freelancers with their taxesJaideep Singh is the CEO and co-founder of FlyFin, an AI-driven tax preparation software program for freelancers.FlyFinSome people, particularly those with families or freelancing businesses, spend days searching for receipts for tax season, making tax preparation a time consuming and, at times, taxing experience. That's why in 2020 Jaideep Singh founded FlyFin, an artificial-intelligence tax preparation program for freelancers that helps people, as he puts it, "fly through their finances." FlyFin is set up to connect to a person's bank accounts, allowing the AI program to help users monitor for certain expenses that can be claimed on their taxes like business expenditures, the interest on mortgages, property taxes, or whatever else that might apply. "For most individuals, people have expenses distributed over multiple financial institutions. So we built an AI platform that is able to look at expenses, understand the individual, understand your profession, understand the freelance population at large, and start the categorization," Singh told Insider.Check out the 7-page pitch deck a startup helping freelancers manage their taxes used to nab $8 million in funding Shopify for embedded financeProductfy CEO and founder, Duy Vo.ProductfyProductfy is looking to break into embedded finance by becoming the Shopify of back-end banking services.Embedded finance — integrating banking services in non-financial settings — has taken hold in the e-commerce world. But Productfy is going after a different kind of customer in churches, universities, and nonprofits.The San Jose, Calif.-based upstart aims to help non-finance companies offer their own banking products. Productfy can help customers launch finance features in as little as a week and without additional engineering resources or background knowledge of banking compliance or legal requirements, Productfy founder and CEO Duy Vo told Insider. "You don't need an engineer to stand up Shopify, right? You can be someone who's just creating art and you can use Shopify to build your own online store," Vo said, adding that Productfy is looking to take that user experience and replicate it for banking services.Here's the 15-page pitch deck Productfy, a fintech looking to be the Shopify of embedded finance, used to nab a $16 million Series AReal-estate management made easyAgora founders Noam Kahan, CTO, Bar Mor, CEO, and Lior Dolinski, CPO.AgoraFor alternative asset managers of any type, the operations underpinning sales and investor communications are a crucial but often overlooked part of the business. Fund managers love to make bets on markets, not coordinate hundreds of wire transfers to clients each quarter or organize customer-relationship-management databases.Within the $10.6 trillion global market for professionally managed real-estate investing, that's where Tel Aviv and New York-based startup Agora hopes to make its mark.Founded in 2019, Agora offers a set of back-office, investor relations, and sales software tools that real-estate investment managers can plug into their workflows. On Wednesday, Agora announced a $9 million seed round, led by Israel-based venture firm Aleph, with participation from River Park Ventures and Maccabee Ventures. The funding comes on the heels of an October 2020 pre-seed fund raise worth $890,000, in which Maccabee also participated.Here's the 15-slide pitch deck that Agora, a startup helping real-estate investors manage communications and sales with their clients, used to raise a $9 million seed roundCheckout made easyBolt's Ryan Breslow.Ryan BreslowAmazon has long dominated e-commerce with its one-click checkout flows, offering easier ways for consumers to shop online than its small-business competitors.Bolt gives small merchants tools to offer the same easy checkouts so they can compete with the likes of Amazon.The startup raised its $393 million Series D to continue adding its one-click checkout feature to merchants' own websites in October.Bolt markets to merchants themselves. But a big part of Bolt's pitch is its growing network of consumers — currently over 5.6 million — that use its features across multiple Bolt merchant customers. Roughly 5% of Bolt's transactions were network-driven in May, meaning users that signed up for a Bolt account on another retailer's website used it elsewhere. The network effects were even more pronounced in verticals like furniture, where 49% of transactions were driven by the Bolt network."The network effect is now unleashed with Bolt in full fury, and that triggered the raise," Bolt's founder and CEO Ryan Breslow told Insider.Here's the 12-page deck that one-click checkout Bolt used to outline its network of 5.6 million consumers and raise its Series DHelping small banks lendCollateralEdge's Joel Radtke, cofounder, COO, and president, and Joe Beard, cofounder and CEO.CollateralEdgeFor large corporations with a track record of tapping the credit markets, taking out debt is a well-structured and clear process handled by the nation's biggest investment banks and teams of accountants. But smaller, middle-market companies — typically those with annual revenues ranging up to $1 billion — are typically served by regional and community banks that don't always have the capacity to adequately measure the risk of loans or price them competitively. Per the National Center for the Middle Market, 200,000 companies fall into this range, accounting for roughly 33% of US private sector GDP and employment.Dallas-based fintech CollateralEdge works with these banks — typically those with between $1 billion and $50 billion in assets — to help analyze and price slices of commercial and industrial loans that previously might have gone unserved by smaller lenders.On October 20th, CollateralEdge announced a $3.5 million seed round led by Dallas venture fund Perot Jain with participation from Kneeland Youngblood (a founder of the healthcare-focused private-equity firm Pharos Capital) and other individual investors.Here's the 10-page deck CollateralEdge, a fintech streamlining how small banks lend to businesses, used to raise a $3.5 million seed round Quantum computing made easyQC Ware CEO Matt Johnson.QC WareEven though banks and hedge funds are still several years out from adding quantum computing to their tech arsenals, that hasn't stopped Wall Street giants from investing time and money into the emerging technology class. And momentum for QC Ware, a startup looking to cut the time and resources it takes to use quantum computing, is accelerating. The fintech secured a $25 million Series B on September 29 co-led by Koch Disruptive Technologies and Covestro with participation from D.E. Shaw, Citi, and Samsung Ventures.QC Ware, founded in 2014, builds quantum algorithms for the likes of Goldman Sachs (which led the fintech's Series A), Airbus, and BMW Group. The algorithms, which are effectively code bases that include quantum processing elements, can run on any of the four main public-cloud providers.Quantum computing allows companies to do complex calculations faster than traditional computers by using a form of physics that runs on quantum bits as opposed to the traditional 1s and 0s that computers use. This is especially helpful in banking for risk analytics or algorithmic trading, where executing calculations milliseconds faster than the competition can give firms a leg up. Here's the 20-page deck QC Ware, a fintech making quantum computing more accessible, used to raised its $25 million Series BSimplifying quant modelsKirat Singh and Mark Higgins, Beacon's cofounders.BeaconA fintech that helps financial institutions use quantitative models to streamline their businesses and improve risk management is catching the attention, and capital, of some of the country's biggest investment managers.Beacon Platform, founded in 2014, is a fintech that builds applications and tools to help banks, asset managers, and trading firms quickly integrate quantitative models that can help with analyzing risk, ensuring compliance, and improving operational efficiency. The company raised its Series C on Wednesday, scoring a $56 million investment led by Warburg Pincus with support from Blackstone Innovations Investments, PIMCO, and Global Atlantic. Blackstone, PIMCO, and Global Atlantic are also users of Beacon's tech, as are the Commonwealth Bank of Australia and Shell New Energies, a division of Royal Dutch Shell, among others.The fintech provides a shortcut for firms looking to use quantitative modelling and data science across various aspects of their businesses, a process that can often take considerable resources if done solo.Here's the 20-page pitch deck Beacon, a fintech helping Wall Street better analyze risk and data, used to raise $56 million from Warburg Pincus, Blackstone, and PIMCOInvoice financing for SMBsStacey Abrams and Lara Hodgson, Now cofounders.NowAbout a decade ago, politician Stacey Abrams and entrepreneur Lara Hodgson were forced to fold their startup because of a kink in the supply chain — but not in the traditional sense.Nourish, which made spill-proof bottled water for children, had grown quickly from selling to small retailers to national ones. And while that may sound like a feather in the small business' cap, there was a hang-up."It was taking longer and longer to get paid, and as you can imagine, you deliver the product and then you wait and you wait, but meanwhile you have to pay your employees and you have to pay your vendors," Hodgson told Insider. "Waiting to get paid was constraining our ability to grow."While it's not unusual for small businesses to grapple with working capital issues, the dust was still settling from the Great Recession. Abrams and Hodgson couldn't secure a line of credit or use financing tools like factoring to solve their problem. The two entrepreneurs were forced to close Nourish in 2012, but along the way they recognized a disconnect in the system.  "Why are we the ones borrowing money, when in fact we're the lender here because every time you send an invoice to a customer, you've essentially extended a free loan to that customer by letting them pay later," Hodgson said. "And the only reason why we were going to need to possibly borrow money was because we had just given ours away for free to Whole Foods," she added.Check out the 7-page deck that Now, Stacey Abrams' fintech that wants to help small businesses 'grow fearlessly', used to raise $29 millionInsurance goes digitalJamie Hale, CEO and cofounder of Ladder.LadderFintechs looking to transform how insurance policies are underwritten, issued, and experienced by customers have grown as new technology driven by digital trends and artificial intelligence shape the market. And while verticals like auto, homeowner's, and renter's insurance have seen their fair share of innovation from forward-thinking fintechs, one company has taken on the massive life-insurance market. Founded in 2017, Ladder uses a tech-driven approach to offer life insurance with a digital, end-to-end service that it says is more flexible, faster, and cost-effective than incumbent players.Life, annuity, and accident and health insurance within the US comprise a big chunk of the broader market. In 2020, premiums written on those policies totaled some $767 billion, compared to $144 billion for auto policies and $97 billion for homeowner's insurance.Here's the 12-page deck that Ladder, a startup disrupting the 'crown jewel' of the insurance market, used to nab $100 millionEmbedded payments for SMBsThe Highnote team.HighnoteBranded cards have long been a way for merchants with the appropriate bank relationships to create additional revenue and build customer loyalty. The rise of embedded payments, or the ability to shop and pay in a seamless experience within a single app, has broadened the number of companies looking to launch branded cards.Highnote is a startup that helps small to mid-sized merchants roll out their own debit and pre-paid digital cards. The fintech emerged from stealth on Tuesday to announce it raised $54 million in seed and Series A funding.Here's the 12-page deck Highnote, a startup helping SMBs embed payments, used to raise $54 million in seed and Series A fundingAn alternative auto lenderDaniel Chu, CEO and founder of Tricolor.TricolorAn alternative auto lender that caters to thin- and no-credit Hispanic borrowers is planning a national expansion after scoring a $90 million investment from BlackRock-managed funds. Tricolor is a Dallas-based auto lender that is a community development financial institution. It uses a proprietary artificial-intelligence engine that decisions each customer based on more than 100 data points, such as proof of income. Half of Tricolor's customers have a FICO score, and less than 12% have scores above 650, yet the average customer has lived in the US for 15 years, according to the deck.A 2017 survey by the Federal Deposit Insurance Corporation found 31.5% of Hispanic households had no mainstream credit compared to 14.4% of white households. "For decades, the deck has been stacked against low income or credit invisible Hispanics in the United States when it comes to the purchase and financing of a used vehicle," Daniel Chu, founder and CEO of Tricolor, said in a statement announcing the raise.An auto lender that caters to underbanked Hispanics used this 25-page deck to raise $90 million from BlackRock investorsA new way to access credit The TomoCredit team.TomoCreditKristy Kim knows first-hand the challenge of obtaining credit in the US without an established credit history. Kim, who came to the US from South Korea, couldn't initially get access to credit despite having a job in investment banking after graduating college. "I was in my early twenties, I had a good income, my job was in investment banking but I could not get approved for anything," Kim told Insider. "Many young professionals like me, we deserve an opportunity to be considered but just because we didn't have a Fico, we weren't given a chance to even apply," she added.Kim started TomoCredit in 2018 to help others like herself gain access to consumer credit. TomoCredit spent three years building an internal algorithm to underwrite customers based on cash flow, rather than a credit score.TomoCredit, a fintech that lends to thin- and no-credit borrowers, used this 17-page pitch deck to raise its $10 million Series AAn IRA for alternativesHenry Yoshida is the co-founder and CEO of retirement fintech startup Rocket Dollar.Rocket DollarFintech startup Rocket Dollar, which helps users invest their individual retirement account (IRA) dollars into alternative assets, just raised $8 million for its Series A round, the company announced on Thursday.Park West Asset Management led the round, with participation from investors including Hyphen Capital, which focuses on backing Asian American entrepreneurs, and crypto exchange Kraken's venture arm. Co-founded in 2018 by CEO Henry Yoshida, CTO Rick Dude, and VP of marketing Thomas Young, Rocket Dollar now has over $350 million in assets under management on its platform. Yoshida sold his first startup, a roboadvisor called Honest Dollar, to Goldman Sachs' investment management division for an estimated $20 million.Yoshida told Insider that while ultra-high net worth investors have been investing self-directed retirement account dollars into alternative assets like real estate, private equity, and cryptocurrency, average investors have not historically been able to access the same opportunities to invest IRA dollars in alternative assets through traditional platforms.Here's the 34-page pitch deck a fintech that helps users invest their retirement savings in crypto and real estate assets used to nab $8 millionConnecting startups and investorsHum Capital cofounder and CEO Blair Silverberg.Hum CapitalBlair Silverberg is no stranger to fundraising.For six years, Silverberg was a venture capitalist at Draper Fisher Jurvetson and Private Credit Investments making bets on startups."I was meeting with thousands of founders in person each year, watching them one at a time go through this friction where they're meeting a ton of investors, and the investors are all asking the same questions," Silverberg told Insider. He switched gears about three years ago, moving to the opposite side of the metaphorical table, to start Hum Capital, which uses artificial intelligence to match investors with startups looking to fundraise.On August 31, the New York-based fintech announced its $9 million Series A. The round was led by Future Ventures with participation from Webb Investment Network, Wavemaker Partners, and Partech. This 11-page pitch deck helped Hum Capital, a fintech using AI to match investors with startups, raise a $9 million Series A.Payments infrastructure for fintechsQolo CEO and co-founder Patricia Montesi.QoloThree years ago, Patricia Montesi realized there was a disconnect in the payments world. "A lot of new economy companies or fintech companies were looking to mesh up a lot of payment modalities that they weren't able to," Montesi, CEO and co-founder of Qolo, told Insider.Integrating various payment capabilities often meant tapping several different providers that had specializations in one product or service, she added, like debit card issuance or cross-border payments. "The way people were getting around that was that they were creating this spider web of fintech," she said, adding that "at the end of it all, they had this mess of suppliers and integrations and bank accounts."The 20-year payments veteran rounded up a group of three other co-founders — who together had more than a century of combined industry experience — to start Qolo, a business-to-business fintech that sought out to bundle back-end payment rails for other fintechs.Here's the 11-slide pitch deck a startup that provides payments infrastructure for other fintechs used to raise a $15 million Series ASoftware for managing freelancersWorksome cofounder and CEO Morten Petersen.WorksomeThe way people work has fundamentally changed over the past year, with more flexibility and many workers opting to freelance to maintain their work-from-home lifestyles.But managing a freelance or contractor workforce is often an administrative headache for employers. Worksome is a startup looking to eliminate all the extra work required for employers to adapt to more flexible working norms.Worksome started as a freelancer marketplace automating the process of matching qualified workers with the right jobs. But the team ultimately pivoted to a full suite of workforce management software, automating administrative burdens required to hire, pay, and account for contract workers.In May, Worksome closed a $13 million Series A backed by European angel investor Tommy Ahlers and Danish firm Lind & Risør.Here's the 21-slide pitch deck used by a startup that helps firms like Carlsberg and Deloitte manage freelancersPersonal finance is only a text awayYinon Ravid, the chief executive and cofounder of Albert.AlbertThe COVID-19 pandemic has underscored the growing preference of mobile banking as customers get comfortable managing their finances online.The financial app Albert has seen a similar jump in activity. Currently counting more than six million members, deposits in Albert's savings offering doubled from the start of the pandemic in March 2020 to May of this year, from $350 million to $700 million, according to new numbers released by the company. Founded in 2015, Albert offers automated budgeting and savings tools alongside guided investment portfolios. It's looked to differentiate itself through personalized features, like the ability for customers to text human financial experts.Budgeting and saving features are free on Albert. But for more tailored financial advice, customers pay a subscription fee that's a pay-what-you-can model, between $4 and $14 a month. And Albert's now banking on a new tool to bring together its investing, savings, and budgeting tools.Fintech Albert used this 10-page pitch deck to raise a $100 million Series C from General Atlantic and CapitalGRethinking debt collection Jason Saltzman, founder and CEO of ReliefReliefFor lenders, debt collection is largely automated. But for people who owe money on their credit cards, it can be a confusing and stressful process.  Relief is looking to change that. Its app automates the credit-card debt collection process for users, negotiating with lenders and collectors to settle outstanding balances on their behalf. The fintech just launched and closed a $2 million seed round led by Collaborative Ventures. Relief's fundraising experience was a bit different to most. Its pitch deck, which it shared with one investor via Google Slides, went viral. It set out to raise a $1 million seed round, but ended up doubling that and giving some investors money back to make room for others.Check out a 15-page pitch deck that went viral and helped a credit-card debt collection startup land a $2 million seed roundBlockchain for private-markets investing Carlos Domingo is cofounder and CEO of Securitize.SecuritizeSecuritize, founded in 2017 by the tech industry veterans Carlos Domingo and Jamie Finn, is bringing blockchain technology to private-markets investing. The company raised $48 million in Series B funding on June 21 from investors including Morgan Stanley and Blockchain Capital.Securitize helps companies crowdfund capital from individual and institutional investors by issuing their shares in the form of blockchain tokens that allow for more efficient settlement, record keeping, and compliance processes. Morgan Stanley's Tactical Value fund, which invests in private companies, made its first blockchain-technology investment when it coled the Series B, Securitize CEO Carlos Domingo told Insider.Here's the 11-page pitch deck a blockchain startup looking to revolutionize private-markets investing used to nab $48 million from investors like Morgan StanleyE-commerce focused business bankingMichael Rangel, cofounder and CEO, and Tyler McIntyre, cofounder and CTO of Novo.Kristelle Boulos PhotographyBusiness banking is a hot market in fintech. And it seems investors can't get enough.Novo, the digital banking fintech aimed at small e-commerce businesses, raised a $40.7 million Series A led by Valar Ventures in June. Since its launch in 2018, Novo has signed up 100,000 small businesses. Beyond bank accounts, it offers expense management, a corporate card, and integrates with e-commerce infrastructure players like Shopify, Stripe, and Wise.Founded in 2018, Novo was based in New York City, but has since moved its headquarters to Miami. Here's the 12-page pitch deck e-commerce banking startup Novo used to raise its $40 million Series ABlockchain-based credit score tech John Sun, Anna Fridman, and Adam Jiwan are the cofounders of fintech startup Spring Labs.Spring LabsA blockchain-based fintech startup that is aiming to disrupt the traditional model of evaluating peoples' creditworthiness recently raised $30 million in a Series B funding led by credit reporting giant TransUnion.Four-year-old Spring Labs aims to create a private, secure data-sharing model to help credit agencies better predict the creditworthiness of people who are not in the traditional credit bureau system. The founding team of three fintech veterans met as early employees of lending startup Avant.Existing investors GreatPoint Ventures and August Capital also joined in on the most recent round.  So far Spring Labs has raised $53 million from institutional rounds.TransUnion, a publicly-traded company with a $20 billion-plus market cap, is one of the three largest consumer credit agencies in the US. After 18 months of dialogue and six months of due diligence, TransAmerica and Spring Labs inked a deal, Spring Labs CEO and cofounder Adam Jiwan told Insider.Here's the 10-page pitch deck blockchain-based fintech Spring Labs used to snag $30 million from investors including credit reporting giant TransUnionDigital banking for freelancersJGalione/Getty ImagesLance is a new digital bank hoping to simplify the life of those workers by offering what it calls an "active" approach to business banking. "We found that every time we sat down with the existing tools and resources of our accountants and QuickBooks and spreadsheets, we just ended up getting tangled up in the whole experience of it," Lance cofounder and CEO Oona Rokyta told Insider. Lance offers subaccounts for personal salaries, withholdings, and savings to which freelancers can automatically allocate funds according to custom preset levels. It also offers an expense balance that's connected to automated tax withholdings.In May, Lance announced the closing of a $2.8 million seed round that saw participation from Barclays, BDMI, Great Oaks Capital, Imagination Capital, Techstars, DFJ Frontier, and others.Here's the 21-page pitch deck Lance, a digital bank for freelancers, used to raise a $2.8 million seed round from investors including BarclaysDigital tools for independent financial advisorsJason Wenk, founder and CEO of AltruistAltruistJason Wenk started his career at Morgan Stanley in investment research over 20 years ago. Now, he's running a company that is hoping to broaden access to financial advice for less-wealthy individuals. The startup raised $50 million in Series B funding led by Insight Partners with participation from investors Vanguard and Venrock. The round brings the Los Angeles-based startup's total funding to just under $67 million.Founded in 2018, Altruist is a digital brokerage built for independent financial advisors, intended to be an "all-in-one" platform that unites custodial functions, portfolio accounting, and a client-facing portal. It allows advisors to open accounts, invest, build models, report, trade (including fractional shares), and bill clients through an interface that can advisors time by eliminating mundane operational tasks.Altruist aims to make personalized financial advice less expensive, more efficient, and more inclusive through the platform, which is designed for registered investment advisors (RIAs), a growing segment of the wealth management industry. Here's the pitch deck for Altruist, a wealth tech challenging custodians Fidelity and Charles Schwab, that raised $50 million from Vanguard and InsightPayments and operations support HoneyBook cofounders Dror Shimoni, Oz Alon, and Naama Alon.HoneyBookWhile countless small businesses have been harmed by the pandemic, self-employment and entrepreneurship have found ways to blossom as Americans started new ventures.Half of the US population may be freelance by 2027, according to a study commissioned by remote-work hiring platform Upwork. HoneyBook, a fintech startup that provides payment and operations support for freelancers, in May raised $155 million in funding and achieved unicorn status with its $1 billion-plus valuation.Durable Capital Partners led the Series D funding with other new investors including renowned hedge fund Tiger Global, Battery Ventures, Zeev Ventures, and 01 Advisors. Citi Ventures, Citigroup's startup investment arm that also backs fintech robo-advisor Betterment, participated as an existing investor in the round alongside Norwest Venture partners. The latest round brings the company's fundraising total to $227 million to date.Here's the 21-page pitch deck a Citi-backed fintech for freelancers used to raise $155 million from investors like hedge fund Tiger GlobalFraud prevention for lenders and insurersFiordaliso/Getty ImagesOnboarding new customers with ease is key for any financial institution or retailer. The more friction you add, the more likely consumers are to abandon the entire process.But preventing fraud is also a priority, and that's where Neuro-ID comes in. The startup analyzes what it calls "digital body language," or, the way users scroll, type, and tap. Using that data, Neuro-ID can identify fraudulent users before they create an account. It's built for banks, lenders, insurers, and e-commerce players."The train has left the station for digital transformation, but there's a massive opportunity to try to replicate all those communications that we used to have when we did business in-person, all those tells that we would get verbally and non-verbally on whether or not someone was trustworthy," Neuro-ID CEO Jack Alton told Insider.Founded in 2014, the startup's pitch is twofold: Neuro-ID can save companies money by identifying fraud early, and help increase user conversion by making the onboarding process more seamless. In December Neuro-ID closed a $7 million Series A, co-led by Fin VC and TTV Capital, with participation from Canapi Ventures. With 30 employees, Neuro-ID is using the fresh funding to grow its team and create additional tools to be more self-serving for customers.Here's the 11-slide pitch deck a startup that analyzes consumers' digital behavior to fight fraud used to raise a $7 million Series AAI-powered tools to spot phony online reviews Saoud Khalifah, founder and CEO of Fakespot.FakespotMarketplaces like Amazon and eBay host millions of third-party sellers, and their algorithms will often boost items in search based on consumer sentiment, which is largely based on reviews. But many third-party sellers use fake reviews often bought from click farms to boost their items, some of which are counterfeit or misrepresented to consumers.That's where Fakespot comes in. With its Chrome extension, it warns users of sellers using potentially fake reviews to boost sales and can identify fraudulent sellers. Fakespot is currently compatible with Amazon, BestBuy, eBay, Sephora, Steam, and Walmart."There are promotional reviews written by humans and bot-generated reviews written by robots or review farms," Fakespot founder and CEO Saoud Khalifah told Insider. "Our AI system has been built to detect both categories with very high accuracy."Fakespot's AI learns via reviews data available on marketplace websites, and uses natural-language processing to identify if reviews are genuine. Fakespot also looks at things like whether the number of positive reviews are plausible given how long a seller has been active.Fakespot, a startup that helps shoppers detect robot-generated reviews and phony sellers on Amazon and Shopify, used this pitch deck to nab a $4 million Series ANew twists on digital bankingZach Bruhnke, cofounder and CEO of HMBradleyHMBradleyConsumers are getting used to the idea of branch-less banking, a trend that startup digital-only banks like Chime, N26, and Varo have benefited from. The majority of these fintechs target those who are underbanked, and rely on usage of their debit cards to make money off interchange. But fellow startup HMBradley has a different business model. "Our thesis going in was that we don't swipe our debit cards all that often, and we don't think the customer base that we're focusing on does either," Zach Bruhnke, cofounder and CEO of HMBradley, told Insider. "A lot of our customer base uses credit cards on a daily basis."Instead, the startup is aiming to build clientele with stable deposits. As a result, the bank is offering interest-rate tiers depending on how much a customer saves of their direct deposit.Notably, the rate tiers are dependent on the percentage of savings, not the net amount. "We'll pay you more when you save more of what comes in," Bruhnke said. "We didn't want to segment customers by how much money they had. So it was always going to be about a percentage of income. That was really important to us."Check out the 14-page pitch deck fintech HMBradley, a neobank offering interest rates as high as 3%, used to raise an $18.25 million Series ARead the original article on Business Insider.....»»

Category: topSource: businessinsiderDec 21st, 2021

5 Low-Beta High-Yielding Stocks to Buy in a Capricious Market

We have narrowed our search to five large-cap low-beta stocks whose dividend yield is higher than the current yield on the benchmark 10-Year U.S. These are: TRV, BG, DUK, CHRW and CINF. Wall Street has been suffering since Black Friday as the resurgence of coronavirus with its new variant – Omicron – has shaken market participants’ confidence across the globe. Moreover, a higher interest rate in 2022 as indicated by several major central banks, has also resulted in severe market volatility.Despite the fact that December has generally remained favorable on Wall Street, investors are uncertain about the direction of stock market movement in the final eight trading days of this year. At this stage, it will be prudent to invest in low-beta high dividend-paying stocks with a favorable Zacks Rank. Here  are five of them — The Travelers Companies Inc. TRV, Cincinnati Financial Corp. CINF, Duke Energy Corp. DUK, C.H. Robinson Worldwide Inc. CHRW and Bunge Ltd. BG.Omicron Spreads GloballyWith the coronavirus pandemic showing no signs of letting up, Wall Street continues to grapple with severe volatility, which has been plaguing it over the last three weeks. The resurgence of coronavirus either in the form of Delta or Omicron has been creating intermittent hurdles which otherwise could have been a smooth recovery of the global economy.The available data of Omicron has so far indicated that this variant may be less severe than Delta but  highly transmissible. Most of Europe is already affected by Omicron and big nations have opted for partial or full lockdown during the holiday season. Asia is also reporting increasing Omicron cases. In the United States, 25 states have already reported Omicron cases.On Dec 18, the World Health Organization (WHO) reported that 89 countries have witnessed the Omicron variant of coronavirus and the number of cases is doubling in 1.5 to 3 days in areas with community transmission. Globally, various sports and entertainment programs have been postponed or cancelled due to the spread of Omicron.Higher Interest Rate Looms LargeMarket participants are wondering whether 2022 will be marked as the year of higher interest rate globally. In the United States, on Dec 15, Fed Chairman Jerome Powell said in his post FOMC statement that the central bank will raise the tapering of the monthly bond-buy program from $15 billion per month to $30 billion per month effective January 2022. At this rate, the quantitative easing program will end in March 2022.Although, Powell refrained of commenting anything on when the Fed will raise the benchmark lending rate and at what magnitude, Fed’s dot-plot indicated that all 18 members are expecting at least one rate hike in 2022. Out of 18 Fed members, 12 are expecting three rate hikes in 2022 followed by a two more rate hikes in 2023 and 2024.On Dec 17, the Bank of England raised the benchmark interest rate to 0.25% from 0.1%. This marked the first rate hike by the British central bank in three years. On Nov 10, the European Central Bank (ECB) Governing Council member Robert Holzmann said that the ECB could stop bond-buying program by September 2022.The primary concerns of these central bankers are soaring inflation. The pandemic-led global disruption of the supply-chain system inflated input costs while growing demand is pulling up the general price level.Why Low-Beta Stocks?Wall Street is suffering from day-to-day fluctuations. In the week ended Dec 10, the Dow, the S&P 500 and the Nasdaq Composite – rallied 4%, 3.8% and 3.5%, respectively. However, for the week ended Dec 17, these three indexes tumbled 1.7%, 1.9% and 3%, respectively.Nevertheless, the fundamentals of the U.S. economy remained solid. In its latest projection on Dec 16, the Atlanta Fed reported that the U.S. economy would grow by 7.2% in fourth-quarter 2021. U.S. GDP grew 6.4%, 6.7% and 2.1%, in the first, second and third quarters of this year, respectively. Moreover, in fourth-quarter 2021, total earnings of the S&P 500 Index are expected to up 19.3% year over year on 11.4% higher revenues.At this stage, investment in low-beta stocks with a high dividend yield and a favorable Zacks Rank may be the best option. If market’s northbound journey continues, then the favorable Zacks Rank of these stocks will capture the upside potential. However, if markets take a downturn, then low-beta stocks will minimize portfolio losses and dividend payment will act as a regular income stream.Our Top PicksWe have narrowed our search to five large-cap (market capital > $10 billion) low-beta stocks whose dividend yield is higher than the current yield on the benchmark 10-Year U.S. Treasury Note. These companies have strong growth potential for the rest of 2021 and have seen positive earnings estimate revisions in the last 60 days. Each of our picks carries either a Zacks Rank #1 (Strong Buy) or 2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.The chart below shows the price performance of our five picks in the past three months.Image Source: Zacks Investment ResearchBunge Ltd. operates as an agribusiness and food company worldwide. BG has an integrated global agribusiness spanning the farm-to-consumer food chain. Bunge operates in five segments: Agribusiness, Edible Oil Products, Milling Products, Sugar and Bioenergy, and Fertilizer. Bunge processes, produces, moves, distributes and markets food in five continents.Zacks Rank #1 Bunge has an expected earnings growth rate of 44.9% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 36.1% over the last 60 days. BG has a beta of 0.64 and a current dividend yield of 2.38%.C.H. Robinson is benefiting from favorable freight market conditions, such as increased volumes and higher pricing, amid tight capacity. In the first nine months of 2021, C.H. Robinson returned around $663 million to its shareholders through dividends ($209 million) and share buybacks ($454 million).Zacks Rank #1 CHRW has an expected earnings growth rate of 69.4% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 0.5% over the last 30 days. C.H. Robinson has a beta of 0.72 and a current dividend yield of 2.17%.The Travelers Companies boasts a strong market presence in auto, homeowners’ insurance, commercial U.S. property-casualty insurance with solid inorganic growth. A high retention rate, increase in new business and positive renewal premium change bode well. TRV’s commercial businesses should perform well owing to market stability.The Travelers Companies remains optimistic about the personal line of business, given growth at the profitable agency auto and homeowners business. TRV expects net investment income from non-fixed income portfolio to be $420 million to $430 million quarterly in 2022. Sufficient capital boosts shareholder value.Zacks Rank #2 The Travelers Companies has an expected earnings growth rate of 19.5% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 0.5% over the last 30 days. The Travelers Companies has a beta of 0.76 and a current dividend yield of 2.23%.Cincinnati Financial continues to grow premiums through a disciplined expansion of Cincinnati Re while the division makes a nice contribution to its overall earnings. Price increases and a higher level of insured exposures are the other positives.Cincinnati Financial is focused on earning new business by appointing new agencies and believes that an agent-focused business model will drive long-term premium growth. Cincinnati Financial boasts solid capital position based on which it has returned value to its shareholders. A favorable reserve release should drive growth for CNF. Consistent cash flow and sufficient cash balances will continue to boost liquidity.Zacks Rank #2 Cincinnati Financial has an expected earnings growth rate of 69.5% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 0.2% over the past 30 days. CINF has a beta of 0.68 a current dividend yield of 2.23%.Duke Energy operates as an energy company in the United States. DUK operates through three segments: Electric Utilities and Infrastructure, Gas Utilities and Infrastructure, and Commercial Renewables.Duke Energy is a premier utility service provider that invests heavily in infrastructure and expansion projects. During the 2021-2025 period, it projects to spend $59 billion. DUK has lowered its carbon emissions by 40% since 2005 and aims to electrify all its light-duty vehicles by 2030.Duke Energy has an expected earnings growth rate of 2% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 0.2% over the past 60 days. DUK has a beta of 0.32 a current dividend yield of 3.82%. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Duke Energy Corporation (DUK): Free Stock Analysis Report The Travelers Companies, Inc. (TRV): Free Stock Analysis Report C.H. Robinson Worldwide, Inc. (CHRW): Free Stock Analysis Report Cincinnati Financial Corporation (CINF): Free Stock Analysis Report Bunge Limited (BG): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksDec 20th, 2021

Our Shopping Obsession Is Causing a Literal Stink

Box factories are enjoying a revival since the pandemic spurred more online shopping, but neighborhoods downwind of box makers say the smell is making life miserable The world is on a spending spree, and no matter what you’re buying, it’s probably going to have been in a box at some point along its route to you. That means companies are rushing to build pulp mills and box factories to meet demand, and many of them are in the United States. About 40 billion boxes—equal to 407 billion square feet, which is roughly the size of Switzerland —were shipped in the U.S. in 2020, surpassing the previous record from 1999 set amidst a hot economy and burgeoning e-commerce. This year is likely to beat that record; in the first nine months of 2021, box shipments were up 3.9% from 2020, according to the Fibre Box Association. [time-brightcove not-tgx=”true”] But making paper products is a smelly operation, and as more box factories expand into U.S. neighborhoods, there’s come a pushback from people who don’t want to be downwind of an American manufacturing revival. In South Carolina, three groups of plaintiffs filed lawsuits this summer against New-Indy, a company that converted a paper mill to make containerboard, saying the conversion has made the air dangerous and unhealthy; the state received more than 17,000 complaints of noxious odors from citizens near the New-Indy plant in the first half of this year, which it calls “an unprecedented number.” New York state fined a Niagara Falls paper mill $375,000 in September for “intolerable odors” that it said impacted the health of the surrounding neighborhood, especially in the summer; the mill, Cascades Containerboard Packaging, agreed to spend millions of dollars in equipment upgrades. The mill says the smell comes from sludge created when the plant processes recycled paper into cardboard, and this recycled sludge was generated at higher rates this year to meet higher demand for boxes. David Goldman—APThe Midwest Paper Group mill in Combined Locks, Wis., is seen from across the the river in Little Chute, Wis., on Aug. 18, 2020. The mill is one of many that switched its focus from producing paper to cardboard for boxes as online shopping soared. And in Kalamazoo, Mich., residents filed a lawsuit against paperboard maker Graphic Packaging International after they say the company started production on a machine that would increase output by 500,000 tons a year; the residents say the mill has “discharged discrete and offensive noxious odors, air particulates, and fugitive dust” into the air. Adding to the tensions: many of these odor-emitting factories are in communities of color, which by virtue of zoning laws find themselves tucked against industrial zones. People of color account for the bulk of exposure to industrial pollutants in the United States, according to a study published in April in ScienceAdvances. How the pandemic changed shopping The complaints about the box factories coincide with the reversal of a long-term trend in the U.S. that saw mills shutting down as demand for printer paper and newspapers waned. Now, shuttered mills that once printed newspapers and magazines in places like Old Town, Maine and Port Angeles, Wash., are reopening to make pulp and containerboard—the liner and brown paper used to make a cardboard box. There are even new mills opening in places like Green Bay, Wisc. and Wapakoneta, Ohio, and new mills planned in places like Henderson, Ky. Though e-commerce has long driven an increase in the boxes passing through the average American’s home, until now it had not led to a huge uptick in box production; the boxes being sent to people’s homes were merely in lieu of the boxes carrying goods to brick and mortar stores. The pandemic changed that. Read more: I Tried Buying Only Used Holiday Gifts. It Changed How I Think About Shopping “There was this extraordinary shift from spending on services to spending on goods,” says Adam Josephson, a paper and packaging analyst at KeyBanc Capital Markets. “Higher purchases of goods leads to higher use of boxes.” Now, people are buying so much stuff—a record $16.3 trillion in October in the U.S. alone—that there’s more demand for boxes than ever before. E-commerce and mail order use seven times more corrugated cardboard per dollar of sales than traditional retail does, according to Fastmarkets RISI, which tracks the industry. The new and updated mills in the U.S.—30 since 2017 by the count of the Northeast Recycling Council—are a boon to efforts to jumpstart American manufacturing and create new jobs in a long dwindling industry. But the manufacturing process can create hydrogen sulfide and other substances that smell like rotten eggs. In some places where mills have come on line or increased production, residents say that the problem goes beyond stench and that the operations, running at full capacity, are polluting the air and water. The downside of ‘Made in America’ For decades, Americans have bought things made from minerals extracted elsewhere, assembled in faraway factories where the stench and pollution impacted someone else. Now that more boxes are being made in the United States, some residents are confronting one of the pitfalls to making things in America again. “It started as rotten eggs but recently it’s been a sweet port-a-potty, urinal cake smell,” says Kerri Bishop, 34, who runs a Facebook group for people trying to do something about the smell in Catawba, S.C., where the New-Indy mill is located. “I don’t really leave my house—it’s worse when I go outside, and I never know when it’s going to hit,” she says. Bishop, who moved her family to South Carolina from Rochester, N.Y., in 2016, says that before the conversion, the mill would make the air smell like rotten eggs a few times a year, but it didn’t bother her. Then, New-Indy Containerboard, a joint venture part-owned by the Kraft Group, bought the mill in 2018 and converted it to making brown paper for containerboard. The mill began high-volume production in February of 2021, and people working within a 30-mile radius started complaining of strong odors and physical reactions, according to the lawsuit. As Robert Kraft, the owner of the New England Patriots and New-Indy Containerboard, headed to his plane, he drove by me, photojournalist Chelsea Pomales, and our big @wcnc sign. We hope Mr. Kraft will follow through and call us. pic.twitter.com/ntV39RZQPn — Brandon Goldner (@BrandonWCNC) November 7, 2021 In order to start making brown paper at the mill, New-Indy had to apply for a new permit; the permit application estimated that hydrogen sulfide emissions would not significantly increase because of the conversion, according to the South Carolina Department of Health and Environmental Control, or DHEC. The state began receiving thousands of complaints about foul odors in the vicinity in February 2021; when it investigated, it found the odors were coming from the mill. When it asked for information about current sludge management at the facility, the state says, New-Indy provided documents from 2014 and 2017, before the conversion. “It started as rotten eggs, but recently it’s been a sweet port-a-potty, urinal cake smell.” In May 2021, the EPA issued an emergency order under the Clean Air Act requiring the company to reduce hydrogen sulfide emissions and install air quality monitors on its fence line. But for Bishop and other residents, that’s not enough; the company was only required to install a few monitors, and air quality has not improved since May, she says. She and other residents blame the odor on something called a steam-stripper, which treats foul condensate; they say that because of the increased volume at the plant, the steam-stripper can’t handle all the waste the company is producing. Bishop has a cranial nerve disorder, which means the smells hit her even harder, making her physically ill; she gets dizzy and starts seeing spots, she says. Her youngest son developed a rash on his face. She and others say that the environmental agencies are monitoring for the wrong chemicals and that the wastewater the mill is sending into surrounding lagoons is contaminating the groundwater. They say that the problem isn’t just the smell, but that the mill is polluting the air, causing nausea, rashes, and other health problems. Other residents say they can’t take their dogs outside when the smell hits, that they can’t sleep at night; one woman says she keeps a gas mask by her bed to wear when the air seems particularly dirty. New-Indy declined to comment for this story. Paul Hennessy—NurPhoto/Getty ImagesBoaters pass near the Georgia-Pacific pulp and paper mill on Dec. 14, 2020 in Brunswick, Georgia. The China connection There’s another reason that there’s a boom in paper mills in the U.S. In 2018, China stopped accepting most types of recycled material from the U.S., including paper and cardboard. That created an opportunity for paper mills that previously couldn’t compete with China on cost. There was cardboard available to recycle, so mills just had to be retrofitted to turn that cardboard into more cardboard. “The Chinese import restrictions changed the recycling equation and spurred a revitalization of the U.S. mill industry,” says Colin Staub, senior reporter at Resource Recycling, who compiled a map of more than two dozen conversions and new mills announced across the U.S. “We’re certainly seeing more interest in buying and opening paper mills.” China consumes 107 million tons of paper per year, but it has fewer trees to use for pulp and less of a recycling infrastructure than the U.S. Its import restrictions mean that it can primarily import pulp, not cardboard, so some Chinese companies are funding new mills in the U.S. to make pulp that can then be sent overseas. A Chinese company, Nine Dragons, reopened the shuttered mill in Old Town, Maine to make pulp to export to China for boxes. (The mill spilled more than 30,700 gallons of chemicals into the Penobscot River in 2020, violating state and federal laws, causing a rise in the river’s PH level and prompting the Penobscot Nation to advocate for greater stewardship of the river.) Of course, the pulp mills and containerboard factories opening now are much more sustainable than the mills of the past. These mills are an important part of the circular economy in which nothing is thrown away and everything is reused; without mills to recycle cardboard, it would be going to a landfill. Jon Cherry—Getty Images Amanda Eversole, a UPS employee and package handler, watches boxes rush past after clearing a chute jam on Dec. 6, 2021 in Louisville, Kentucky. But the communities hosting these mills often don’t want to have to bear the brunt of our obsession with shopping. “They’re causing pollution that’s never going to leave; they’re turning their own community into a superfund site,” says Jackie Lane, a marine biologist who lives near an International Paper mill in Cantonment, Fla., that she and others say has long polluted Perdido Bay. International Paper failed to meet its wastewater treatment plant permit limits for toxicity on 19 documented occasions from 2015 to 2019, according to a final consent order executed by the state in May. The consent order fines International Paper $190,000 in penalties and requires it to pay a $10,000 fine every time it fails certain water quality tests, an order Lane says is a slap on the wrist. International Paper said in a statement that its monitoring, done in coordination with the state, has shown that the wetlands are “biologically rich and diverse” and that it works closely with the state to preserve the wetlands. International Paper employs more than 500 Alabama and Florida residents, the company said. ‘Environmental racism’ Most of the new and improved paper mills are on sites that have long held paper mills—it’s much easier to get the permits and infrastructure on an existing site than to build a new factory. But that’s meant that because of historical zoning practices that located polluting plants near Black neighborhoods, it’s minority neighborhoods who are subject to much of this pollution. Earlier this year, a former resident filed a complaint against the city of Kalamazoo with the Michigan Department of Civil Rights, alleging that leaders discriminated against Black residents by approving a tax break that allowed Graphic Packaging to expand in a predominantly Black neighborhood. The city also agreed to cut down 721 trees for the company, according to the complaint. George Rose—Getty ImagesHoliday shopping contributes to a backlog of boxes outside a U.S. Post Office in Solvang, Calif., on Nov. 27, 2021. Brandi Crawford-Johnson, the plaintiff, also filed a complaint against Michigan’s Department of Environment, Great Lakes, and Energy, alleging that it discriminated against a predominantly Black neighborhood when it approved changes to an air permit allowing Graphic Packaging to expand in November of 2020. In November, the EPA’s Civil Rights Compliance Office said that it would investigate this complaint. “It’s environmental racism,” says Crawford-Johnson, who after moving to the neighborhood was shocked to learn how many of her neighbors had asthma and other health problems. Graphic Packaging said in a statement that the expansion is not yet fully operational and that it has taken several steps over the years to mitigate potential odors. Though it does not comment on pending litigation, the company that there are several other local manufacturers and a city wastewater treatment plant near its operations, and the odors are caused by “a number of complex factors.” And in Brunswick, Georgia, which is 55% Black, residents have long been accustomed to the smell of rotten eggs from a nearby Georgia-Pacific pulp mill. But starting in December of 2020, residents started having such severe health reactions to the smell that some called 911 because they couldn’t breathe in their homes, says Rachael Thompson, the executive director of the Glynn Environmental Coalition. “I feel like if this were a Caucasian neighborhood and community, more would be done about it,” one resident who called 911, Spanline Dixon, told The Current, a news site covering coastal Georgia. Brunswick is home to four Superfund sites, but the University of Georgia worked with the Glynn Environmental Coalition to analyze weather reports and track what was upstream from the odor complaints. The study showed definitively a direct correlation between the mill and the odors, Thompson says. Her group has received 130 complaints since last year; the only time it did not receive any complaints was during a month the mill was temporarily closed. A Georgia-Pacific spokesman said, in an email, that the company is aware of the odor complaints and shares the community’s concern. The company is working with the state environmental regulatory agency and other stakeholders to identify and mitigate the potential sources of the odor, the spokesman said. More from TIME Read more: How American Shoppers Broke the Supply Chain Tensions between growing demand for paper and the environmental problems that causes aren’t limited to the U.S. In Indonesia, more than 30 community groups sent a letter to Asia Pulp & Paper in August arguing that the mill’s plan to triple pulp production will risk the respiratory health of millions of people. And a community in Nova Scotia is divided after a paper company is taking legal action to reopen a mill that was shut in 2020 after community concerns about its wastewater discharge. One thing’s for sure, says Joshua Martin, director of the Environmental Paper Network—these conflicts are likely to mount as the world consumes more packaging. The problem isn’t just that mills create bad odors; despite high cardboard recycling rates, trees are still cut down to make packaging—around 3 billion a year, according to EPN. Although cardboard is easier to recycle than other products like plastic, it can only be recycled about 5-7 times before it can’t be used any more. Recycled cardboard is often mixed with virgin pulp to make boxes. The U.S. drives that demand—it consumes 202 kg of paper and paperboard per capita, compared to Africa’s 6 kg per capita, Latin America’s 44 kg per capita, and Asia’s 44 kg per capita, according to the Food and Agricultural Organization of the United Nations. “If the entire world used the amount of paper as America currently does, it would be completely unsustainable,” he says. The only way to reverse this trend, he says, is to change the way we buy things to have less dependence on paper and packaging. Consumers can send messages to companies by patronizing businesses that use packaging certified by the Forest Stewardship Council; they can try brands like Loop that deliver groceries in reusable packaging, which Loop then collects. Perhaps the easiest solution, though, is to buy less stuff that you’re going to toss soon—disposable coffee cups or takeout packaging or multiple e-commerce orders. “It’s this culture of disposability and single-use, no matter what the product is made from, that needs to change,” he says. It’s something Kerri Bishop, the South Carolina resident, is taking to heart. Bishop spent her career working in manufacturing and says she didn’t join the class-action lawsuit and didn’t even want the mill to shut down at first. She just hoped they would upgrade their equipment. Now, though, she’s worried she moved to a state that values manufacturing and jobs more than the quality of life and health of its residents. She’s considering getting a home air filtration system. Once a frequent Amazon shopper, she tired of ordering a few different things and having them arrive in many different boxes, even if she tried to get them to all come the same day. She’d heard from a local politician that the New-Indy boxes were being used by Amazon, so she started boycotting the online retailer. She lifted the boycott for the holidays, as higher prices and supply chain problems made it hard to buy things elsewhere, but Bishop says she plans to stop shopping at Amazon again in January.    .....»»

Category: topSource: timeDec 17th, 2021

Here are 29 pitch decks from fintechs disrupting trading, banking, and lending that helped them raise millions

Looking for examples of real fintech pitch decks? Check out pitch decks that Qolo, Lance, and other startups used to raise money from VCs. Check out these pitch decks for examples of fintech founders sold their vision.Yulia Reznikov/Getty Images Insider has been tracking the next wave of hot new startups that are blending finance and tech.  Check out these pitch decks to see how fintech founders sold their vision. See more stories on Insider's business page. Fintech VC  funding hit a fresh quarterly record of $22.8 billion in the first three months of 2021, according to CB Insights data. While mega-rounds helped propel overall funding, new cash was spread across 614 deals. Insider has been tracking the next wave of hot new startups that are blending finance and tech. Check out these pitch decks to see how fintech founders are selling their vision and nabbing big bucks in the process. You'll see new financial tech geared at freelancers, fresh twists on digital banking, and innovation aimed at streamlining customer onboarding. The back-end tech for beautyDanielle Cohen-Shohet, CEO and founder of GlossGeniusGlossGeniusDanielle Cohen-Shohet might have started as a Goldman Sachs investment analyst, but at her core she was always a coder.After about three years at Goldman Sachs, Cohen-Shohet left the world of traditional finance to code her way into starting her own company in 2016. "There was a period of time where I did nothing, but eat, sleep, and code for a few weeks," Cohen-Shohet told Insider. Her technical edge and knowledge of the point-of-sale payment space led her to launch a software company focused on providing behind-the-scenes tech for beauty and wellness small businesses.Cohen-Shohet launched GlossGenius in 2017 to provide payments tech for hair stylists, nail technicians, blow-out bars, and other small businesses in the space.Here's the 11-page deck GlossGenius, a startup that provides back-end tech for the beauty industry, used to raise $16 millionPrivate market data on the blockchainPat O'Meara, CEO of Inveniam.InveniamFor investors in publicly-traded stocks, there's typically no shortage of company data to guide investment decisions. Company financials are easily accessible and vetted by teams of regulators, lawyers, and accountants.But in the private markets — which encompass assets that range from real estate to private credit and private equity — that isn't always the case. Within real estate, for example, valuations of a specific slice of property are often the product of heavily-worked Excel models and a lot of institutional knowledge, leaving them susceptible to manual error at many points along the way.Inveniam, founded in 2017, is a software company that tokenizes the business data of private companies on the blockchain. Using a distributed ledger allows Inveniam to keep track of who is touching the data and what they are doing to it. Check out the 16-page pitch deck for Inveniam, a blockchain-based startup looking to be the Refinitiv of private-market dataHelping freelancers with their taxesJaideep Singh is the CEO and co-founder of FlyFin, an AI-driven tax preparation software program for freelancers.FlyFinSome people, particularly those with families or freelancing businesses, spend days searching for receipts for tax season, making tax preparation a time consuming and, at times, taxing experience. That's why in 2020 Jaideep Singh founded FlyFin, an artificial-intelligence tax preparation program for freelancers that helps people, as he puts it, "fly through their finances." FlyFin is set up to connect to a person's bank accounts, allowing the AI program to help users monitor for certain expenses that can be claimed on their taxes like business expenditures, the interest on mortgages, property taxes, or whatever else that might apply. "For most individuals, people have expenses distributed over multiple financial institutions. So we built an AI platform that is able to look at expenses, understand the individual, understand your profession, understand the freelance population at large, and start the categorization," Singh told Insider.Check out the 7-page pitch deck a startup helping freelancers manage their taxes used to nab $8 million in funding Shopify for embedded financeProductfy CEO and founder, Duy Vo.ProductfyProductfy is looking to break into embedded finance by becoming the Shopify of back-end banking services.Embedded finance — integrating banking services in non-financial settings — has taken hold in the e-commerce world. But Productfy is going after a different kind of customer in churches, universities, and nonprofits.The San Jose, Calif.-based upstart aims to help non-finance companies offer their own banking products. Productfy can help customers launch finance features in as little as a week and without additional engineering resources or background knowledge of banking compliance or legal requirements, Productfy founder and CEO Duy Vo told Insider. "You don't need an engineer to stand up Shopify, right? You can be someone who's just creating art and you can use Shopify to build your own online store," Vo said, adding that Productfy is looking to take that user experience and replicate it for banking services.Here's the 15-page pitch deck Productfy, a fintech looking to be the Shopify of embedded finance, used to nab a $16 million Series AReal-estate management made easyAgora founders Noam Kahan, CTO, Bar Mor, CEO, and Lior Dolinski, CPO.AgoraFor alternative asset managers of any type, the operations underpinning sales and investor communications are a crucial but often overlooked part of the business. Fund managers love to make bets on markets, not coordinate hundreds of wire transfers to clients each quarter or organize customer-relationship-management databases.Within the $10.6 trillion global market for professionally managed real-estate investing, that's where Tel Aviv and New York-based startup Agora hopes to make its mark.Founded in 2019, Agora offers a set of back-office, investor relations, and sales software tools that real-estate investment managers can plug into their workflows. On Wednesday, Agora announced a $9 million seed round, led by Israel-based venture firm Aleph, with participation from River Park Ventures and Maccabee Ventures. The funding comes on the heels of an October 2020 pre-seed fund raise worth $890,000, in which Maccabee also participated.Here's the 15-slide pitch deck that Agora, a startup helping real-estate investors manage communications and sales with their clients, used to raise a $9 million seed roundCheckout made easyBolt's Ryan Breslow.Ryan BreslowAmazon has long dominated e-commerce with its one-click checkout flows, offering easier ways for consumers to shop online than its small-business competitors.Bolt gives small merchants tools to offer the same easy checkouts so they can compete with the likes of Amazon.The startup raised its $393 million Series D to continue adding its one-click checkout feature to merchants' own websites in October.Bolt markets to merchants themselves. But a big part of Bolt's pitch is its growing network of consumers — currently over 5.6 million — that use its features across multiple Bolt merchant customers. Roughly 5% of Bolt's transactions were network-driven in May, meaning users that signed up for a Bolt account on another retailer's website used it elsewhere. The network effects were even more pronounced in verticals like furniture, where 49% of transactions were driven by the Bolt network."The network effect is now unleashed with Bolt in full fury, and that triggered the raise," Bolt's founder and CEO Ryan Breslow told Insider.Here's the 12-page deck that one-click checkout Bolt used to outline its network of 5.6 million consumers and raise its Series DHelping small banks lendCollateralEdge's Joel Radtke, cofounder, COO, and president, and Joe Beard, cofounder and CEO.CollateralEdgeFor large corporations with a track record of tapping the credit markets, taking out debt is a well-structured and clear process handled by the nation's biggest investment banks and teams of accountants. But smaller, middle-market companies — typically those with annual revenues ranging up to $1 billion — are typically served by regional and community banks that don't always have the capacity to adequately measure the risk of loans or price them competitively. Per the National Center for the Middle Market, 200,000 companies fall into this range, accounting for roughly 33% of US private sector GDP and employment.Dallas-based fintech CollateralEdge works with these banks — typically those with between $1 billion and $50 billion in assets — to help analyze and price slices of commercial and industrial loans that previously might have gone unserved by smaller lenders.On October 20th, CollateralEdge announced a $3.5 million seed round led by Dallas venture fund Perot Jain with participation from Kneeland Youngblood (a founder of the healthcare-focused private-equity firm Pharos Capital) and other individual investors.Here's the 10-page deck CollateralEdge, a fintech streamlining how small banks lend to businesses, used to raise a $3.5 million seed round Quantum computing made easyQC Ware CEO Matt Johnson.QC WareEven though banks and hedge funds are still several years out from adding quantum computing to their tech arsenals, that hasn't stopped Wall Street giants from investing time and money into the emerging technology class. And momentum for QC Ware, a startup looking to cut the time and resources it takes to use quantum computing, is accelerating. The fintech secured a $25 million Series B on September 29 co-led by Koch Disruptive Technologies and Covestro with participation from D.E. Shaw, Citi, and Samsung Ventures.QC Ware, founded in 2014, builds quantum algorithms for the likes of Goldman Sachs (which led the fintech's Series A), Airbus, and BMW Group. The algorithms, which are effectively code bases that include quantum processing elements, can run on any of the four main public-cloud providers.Quantum computing allows companies to do complex calculations faster than traditional computers by using a form of physics that runs on quantum bits as opposed to the traditional 1s and 0s that computers use. This is especially helpful in banking for risk analytics or algorithmic trading, where executing calculations milliseconds faster than the competition can give firms a leg up. Here's the 20-page deck QC Ware, a fintech making quantum computing more accessible, used to raised its $25 million Series BSimplifying quant modelsKirat Singh and Mark Higgins, Beacon's cofounders.BeaconA fintech that helps financial institutions use quantitative models to streamline their businesses and improve risk management is catching the attention, and capital, of some of the country's biggest investment managers.Beacon Platform, founded in 2014, is a fintech that builds applications and tools to help banks, asset managers, and trading firms quickly integrate quantitative models that can help with analyzing risk, ensuring compliance, and improving operational efficiency. The company raised its Series C on Wednesday, scoring a $56 million investment led by Warburg Pincus with support from Blackstone Innovations Investments, PIMCO, and Global Atlantic. Blackstone, PIMCO, and Global Atlantic are also users of Beacon's tech, as are the Commonwealth Bank of Australia and Shell New Energies, a division of Royal Dutch Shell, among others.The fintech provides a shortcut for firms looking to use quantitative modelling and data science across various aspects of their businesses, a process that can often take considerable resources if done solo.Here's the 20-page pitch deck Beacon, a fintech helping Wall Street better analyze risk and data, used to raise $56 million from Warburg Pincus, Blackstone, and PIMCOInvoice financing for SMBsStacey Abrams and Lara Hodgson, Now cofounders.NowAbout a decade ago, politician Stacey Abrams and entrepreneur Lara Hodgson were forced to fold their startup because of a kink in the supply chain — but not in the traditional sense.Nourish, which made spill-proof bottled water for children, had grown quickly from selling to small retailers to national ones. And while that may sound like a feather in the small business' cap, there was a hang-up."It was taking longer and longer to get paid, and as you can imagine, you deliver the product and then you wait and you wait, but meanwhile you have to pay your employees and you have to pay your vendors," Hodgson told Insider. "Waiting to get paid was constraining our ability to grow."While it's not unusual for small businesses to grapple with working capital issues, the dust was still settling from the Great Recession. Abrams and Hodgson couldn't secure a line of credit or use financing tools like factoring to solve their problem. The two entrepreneurs were forced to close Nourish in 2012, but along the way they recognized a disconnect in the system.  "Why are we the ones borrowing money, when in fact we're the lender here because every time you send an invoice to a customer, you've essentially extended a free loan to that customer by letting them pay later," Hodgson said. "And the only reason why we were going to need to possibly borrow money was because we had just given ours away for free to Whole Foods," she added.Check out the 7-page deck that Now, Stacey Abrams' fintech that wants to help small businesses 'grow fearlessly', used to raise $29 millionInsurance goes digitalJamie Hale, CEO and cofounder of Ladder.LadderFintechs looking to transform how insurance policies are underwritten, issued, and experienced by customers have grown as new technology driven by digital trends and artificial intelligence shape the market. And while verticals like auto, homeowner's, and renter's insurance have seen their fair share of innovation from forward-thinking fintechs, one company has taken on the massive life-insurance market. Founded in 2017, Ladder uses a tech-driven approach to offer life insurance with a digital, end-to-end service that it says is more flexible, faster, and cost-effective than incumbent players.Life, annuity, and accident and health insurance within the US comprise a big chunk of the broader market. In 2020, premiums written on those policies totaled some $767 billion, compared to $144 billion for auto policies and $97 billion for homeowner's insurance.Here's the 12-page deck that Ladder, a startup disrupting the 'crown jewel' of the insurance market, used to nab $100 millionEmbedded payments for SMBsThe Highnote team.HighnoteBranded cards have long been a way for merchants with the appropriate bank relationships to create additional revenue and build customer loyalty. The rise of embedded payments, or the ability to shop and pay in a seamless experience within a single app, has broadened the number of companies looking to launch branded cards.Highnote is a startup that helps small to mid-sized merchants roll out their own debit and pre-paid digital cards. The fintech emerged from stealth on Tuesday to announce it raised $54 million in seed and Series A funding.Here's the 12-page deck Highnote, a startup helping SMBs embed payments, used to raise $54 million in seed and Series A fundingAn alternative auto lenderDaniel Chu, CEO and founder of Tricolor.TricolorAn alternative auto lender that caters to thin- and no-credit Hispanic borrowers is planning a national expansion after scoring a $90 million investment from BlackRock-managed funds. Tricolor is a Dallas-based auto lender that is a community development financial institution. It uses a proprietary artificial-intelligence engine that decisions each customer based on more than 100 data points, such as proof of income. Half of Tricolor's customers have a FICO score, and less than 12% have scores above 650, yet the average customer has lived in the US for 15 years, according to the deck.A 2017 survey by the Federal Deposit Insurance Corporation found 31.5% of Hispanic households had no mainstream credit compared to 14.4% of white households. "For decades, the deck has been stacked against low income or credit invisible Hispanics in the United States when it comes to the purchase and financing of a used vehicle," Daniel Chu, founder and CEO of Tricolor, said in a statement announcing the raise.An auto lender that caters to underbanked Hispanics used this 25-page deck to raise $90 million from BlackRock investorsA new way to access credit The TomoCredit team.TomoCreditKristy Kim knows first-hand the challenge of obtaining credit in the US without an established credit history. Kim, who came to the US from South Korea, couldn't initially get access to credit despite having a job in investment banking after graduating college. "I was in my early twenties, I had a good income, my job was in investment banking but I could not get approved for anything," Kim told Insider. "Many young professionals like me, we deserve an opportunity to be considered but just because we didn't have a Fico, we weren't given a chance to even apply," she added.Kim started TomoCredit in 2018 to help others like herself gain access to consumer credit. TomoCredit spent three years building an internal algorithm to underwrite customers based on cash flow, rather than a credit score.TomoCredit, a fintech that lends to thin- and no-credit borrowers, used this 17-page pitch deck to raise its $10 million Series AAn IRA for alternativesHenry Yoshida is the co-founder and CEO of retirement fintech startup Rocket Dollar.Rocket DollarFintech startup Rocket Dollar, which helps users invest their individual retirement account (IRA) dollars into alternative assets, just raised $8 million for its Series A round, the company announced on Thursday.Park West Asset Management led the round, with participation from investors including Hyphen Capital, which focuses on backing Asian American entrepreneurs, and crypto exchange Kraken's venture arm. Co-founded in 2018 by CEO Henry Yoshida, CTO Rick Dude, and VP of marketing Thomas Young, Rocket Dollar now has over $350 million in assets under management on its platform. Yoshida sold his first startup, a roboadvisor called Honest Dollar, to Goldman Sachs' investment management division for an estimated $20 million.Yoshida told Insider that while ultra-high net worth investors have been investing self-directed retirement account dollars into alternative assets like real estate, private equity, and cryptocurrency, average investors have not historically been able to access the same opportunities to invest IRA dollars in alternative assets through traditional platforms.Here's the 34-page pitch deck a fintech that helps users invest their retirement savings in crypto and real estate assets used to nab $8 millionConnecting startups and investorsHum Capital cofounder and CEO Blair Silverberg.Hum CapitalBlair Silverberg is no stranger to fundraising.For six years, Silverberg was a venture capitalist at Draper Fisher Jurvetson and Private Credit Investments making bets on startups."I was meeting with thousands of founders in person each year, watching them one at a time go through this friction where they're meeting a ton of investors, and the investors are all asking the same questions," Silverberg told Insider. He switched gears about three years ago, moving to the opposite side of the metaphorical table, to start Hum Capital, which uses artificial intelligence to match investors with startups looking to fundraise.On August 31, the New York-based fintech announced its $9 million Series A. The round was led by Future Ventures with participation from Webb Investment Network, Wavemaker Partners, and Partech. This 11-page pitch deck helped Hum Capital, a fintech using AI to match investors with startups, raise a $9 million Series A.Payments infrastructure for fintechsQolo CEO and co-founder Patricia Montesi.QoloThree years ago, Patricia Montesi realized there was a disconnect in the payments world. "A lot of new economy companies or fintech companies were looking to mesh up a lot of payment modalities that they weren't able to," Montesi, CEO and co-founder of Qolo, told Insider.Integrating various payment capabilities often meant tapping several different providers that had specializations in one product or service, she added, like debit card issuance or cross-border payments. "The way people were getting around that was that they were creating this spider web of fintech," she said, adding that "at the end of it all, they had this mess of suppliers and integrations and bank accounts."The 20-year payments veteran rounded up a group of three other co-founders — who together had more than a century of combined industry experience — to start Qolo, a business-to-business fintech that sought out to bundle back-end payment rails for other fintechs.Here's the 11-slide pitch deck a startup that provides payments infrastructure for other fintechs used to raise a $15 million Series ASoftware for managing freelancersWorksome cofounder and CEO Morten Petersen.WorksomeThe way people work has fundamentally changed over the past year, with more flexibility and many workers opting to freelance to maintain their work-from-home lifestyles.But managing a freelance or contractor workforce is often an administrative headache for employers. Worksome is a startup looking to eliminate all the extra work required for employers to adapt to more flexible working norms.Worksome started as a freelancer marketplace automating the process of matching qualified workers with the right jobs. But the team ultimately pivoted to a full suite of workforce management software, automating administrative burdens required to hire, pay, and account for contract workers.In May, Worksome closed a $13 million Series A backed by European angel investor Tommy Ahlers and Danish firm Lind & Risør.Here's the 21-slide pitch deck used by a startup that helps firms like Carlsberg and Deloitte manage freelancersPersonal finance is only a text awayYinon Ravid, the chief executive and cofounder of Albert.AlbertThe COVID-19 pandemic has underscored the growing preference of mobile banking as customers get comfortable managing their finances online.The financial app Albert has seen a similar jump in activity. Currently counting more than six million members, deposits in Albert's savings offering doubled from the start of the pandemic in March 2020 to May of this year, from $350 million to $700 million, according to new numbers released by the company. Founded in 2015, Albert offers automated budgeting and savings tools alongside guided investment portfolios. It's looked to differentiate itself through personalized features, like the ability for customers to text human financial experts.Budgeting and saving features are free on Albert. But for more tailored financial advice, customers pay a subscription fee that's a pay-what-you-can model, between $4 and $14 a month. And Albert's now banking on a new tool to bring together its investing, savings, and budgeting tools.Fintech Albert used this 10-page pitch deck to raise a $100 million Series C from General Atlantic and CapitalGRethinking debt collection Jason Saltzman, founder and CEO of ReliefReliefFor lenders, debt collection is largely automated. But for people who owe money on their credit cards, it can be a confusing and stressful process.  Relief is looking to change that. Its app automates the credit-card debt collection process for users, negotiating with lenders and collectors to settle outstanding balances on their behalf. The fintech just launched and closed a $2 million seed round led by Collaborative Ventures. Relief's fundraising experience was a bit different to most. Its pitch deck, which it shared with one investor via Google Slides, went viral. It set out to raise a $1 million seed round, but ended up doubling that and giving some investors money back to make room for others.Check out a 15-page pitch deck that went viral and helped a credit-card debt collection startup land a $2 million seed roundBlockchain for private-markets investing Carlos Domingo is cofounder and CEO of Securitize.SecuritizeSecuritize, founded in 2017 by the tech industry veterans Carlos Domingo and Jamie Finn, is bringing blockchain technology to private-markets investing. The company raised $48 million in Series B funding on June 21 from investors including Morgan Stanley and Blockchain Capital.Securitize helps companies crowdfund capital from individual and institutional investors by issuing their shares in the form of blockchain tokens that allow for more efficient settlement, record keeping, and compliance processes. Morgan Stanley's Tactical Value fund, which invests in private companies, made its first blockchain-technology investment when it coled the Series B, Securitize CEO Carlos Domingo told Insider.Here's the 11-page pitch deck a blockchain startup looking to revolutionize private-markets investing used to nab $48 million from investors like Morgan StanleyE-commerce focused business bankingMichael Rangel, cofounder and CEO, and Tyler McIntyre, cofounder and CTO of Novo.Kristelle Boulos PhotographyBusiness banking is a hot market in fintech. And it seems investors can't get enough.Novo, the digital banking fintech aimed at small e-commerce businesses, raised a $40.7 million Series A led by Valar Ventures in June. Since its launch in 2018, Novo has signed up 100,000 small businesses. Beyond bank accounts, it offers expense management, a corporate card, and integrates with e-commerce infrastructure players like Shopify, Stripe, and Wise.Founded in 2018, Novo was based in New York City, but has since moved its headquarters to Miami. Here's the 12-page pitch deck e-commerce banking startup Novo used to raise its $40 million Series ABlockchain-based credit score tech John Sun, Anna Fridman, and Adam Jiwan are the cofounders of fintech startup Spring Labs.Spring LabsA blockchain-based fintech startup that is aiming to disrupt the traditional model of evaluating peoples' creditworthiness recently raised $30 million in a Series B funding led by credit reporting giant TransUnion.Four-year-old Spring Labs aims to create a private, secure data-sharing model to help credit agencies better predict the creditworthiness of people who are not in the traditional credit bureau system. The founding team of three fintech veterans met as early employees of lending startup Avant.Existing investors GreatPoint Ventures and August Capital also joined in on the most recent round.  So far Spring Labs has raised $53 million from institutional rounds.TransUnion, a publicly-traded company with a $20 billion-plus market cap, is one of the three largest consumer credit agencies in the US. After 18 months of dialogue and six months of due diligence, TransAmerica and Spring Labs inked a deal, Spring Labs CEO and cofounder Adam Jiwan told Insider.Here's the 10-page pitch deck blockchain-based fintech Spring Labs used to snag $30 million from investors including credit reporting giant TransUnionDigital banking for freelancersJGalione/Getty ImagesLance is a new digital bank hoping to simplify the life of those workers by offering what it calls an "active" approach to business banking. "We found that every time we sat down with the existing tools and resources of our accountants and QuickBooks and spreadsheets, we just ended up getting tangled up in the whole experience of it," Lance cofounder and CEO Oona Rokyta told Insider. Lance offers subaccounts for personal salaries, withholdings, and savings to which freelancers can automatically allocate funds according to custom preset levels. It also offers an expense balance that's connected to automated tax withholdings.In May, Lance announced the closing of a $2.8 million seed round that saw participation from Barclays, BDMI, Great Oaks Capital, Imagination Capital, Techstars, DFJ Frontier, and others.Here's the 21-page pitch deck Lance, a digital bank for freelancers, used to raise a $2.8 million seed round from investors including BarclaysDigital tools for independent financial advisorsJason Wenk, founder and CEO of AltruistAltruistJason Wenk started his career at Morgan Stanley in investment research over 20 years ago. Now, he's running a company that is hoping to broaden access to financial advice for less-wealthy individuals. The startup raised $50 million in Series B funding led by Insight Partners with participation from investors Vanguard and Venrock. The round brings the Los Angeles-based startup's total funding to just under $67 million.Founded in 2018, Altruist is a digital brokerage built for independent financial advisors, intended to be an "all-in-one" platform that unites custodial functions, portfolio accounting, and a client-facing portal. It allows advisors to open accounts, invest, build models, report, trade (including fractional shares), and bill clients through an interface that can advisors time by eliminating mundane operational tasks.Altruist aims to make personalized financial advice less expensive, more efficient, and more inclusive through the platform, which is designed for registered investment advisors (RIAs), a growing segment of the wealth management industry. Here's the pitch deck for Altruist, a wealth tech challenging custodians Fidelity and Charles Schwab, that raised $50 million from Vanguard and InsightPayments and operations support HoneyBook cofounders Dror Shimoni, Oz Alon, and Naama Alon.HoneyBookWhile countless small businesses have been harmed by the pandemic, self-employment and entrepreneurship have found ways to blossom as Americans started new ventures.Half of the US population may be freelance by 2027, according to a study commissioned by remote-work hiring platform Upwork. HoneyBook, a fintech startup that provides payment and operations support for freelancers, in May raised $155 million in funding and achieved unicorn status with its $1 billion-plus valuation.Durable Capital Partners led the Series D funding with other new investors including renowned hedge fund Tiger Global, Battery Ventures, Zeev Ventures, and 01 Advisors. Citi Ventures, Citigroup's startup investment arm that also backs fintech robo-advisor Betterment, participated as an existing investor in the round alongside Norwest Venture partners. The latest round brings the company's fundraising total to $227 million to date.Here's the 21-page pitch deck a Citi-backed fintech for freelancers used to raise $155 million from investors like hedge fund Tiger GlobalFraud prevention for lenders and insurersFiordaliso/Getty ImagesOnboarding new customers with ease is key for any financial institution or retailer. The more friction you add, the more likely consumers are to abandon the entire process.But preventing fraud is also a priority, and that's where Neuro-ID comes in. The startup analyzes what it calls "digital body language," or, the way users scroll, type, and tap. Using that data, Neuro-ID can identify fraudulent users before they create an account. It's built for banks, lenders, insurers, and e-commerce players."The train has left the station for digital transformation, but there's a massive opportunity to try to replicate all those communications that we used to have when we did business in-person, all those tells that we would get verbally and non-verbally on whether or not someone was trustworthy," Neuro-ID CEO Jack Alton told Insider.Founded in 2014, the startup's pitch is twofold: Neuro-ID can save companies money by identifying fraud early, and help increase user conversion by making the onboarding process more seamless. In December Neuro-ID closed a $7 million Series A, co-led by Fin VC and TTV Capital, with participation from Canapi Ventures. With 30 employees, Neuro-ID is using the fresh funding to grow its team and create additional tools to be more self-serving for customers.Here's the 11-slide pitch deck a startup that analyzes consumers' digital behavior to fight fraud used to raise a $7 million Series AAI-powered tools to spot phony online reviews Saoud Khalifah, founder and CEO of Fakespot.FakespotMarketplaces like Amazon and eBay host millions of third-party sellers, and their algorithms will often boost items in search based on consumer sentiment, which is largely based on reviews. But many third-party sellers use fake reviews often bought from click farms to boost their items, some of which are counterfeit or misrepresented to consumers.That's where Fakespot comes in. With its Chrome extension, it warns users of sellers using potentially fake reviews to boost sales and can identify fraudulent sellers. Fakespot is currently compatible with Amazon, BestBuy, eBay, Sephora, Steam, and Walmart."There are promotional reviews written by humans and bot-generated reviews written by robots or review farms," Fakespot founder and CEO Saoud Khalifah told Insider. "Our AI system has been built to detect both categories with very high accuracy."Fakespot's AI learns via reviews data available on marketplace websites, and uses natural-language processing to identify if reviews are genuine. Fakespot also looks at things like whether the number of positive reviews are plausible given how long a seller has been active.Fakespot, a startup that helps shoppers detect robot-generated reviews and phony sellers on Amazon and Shopify, used this pitch deck to nab a $4 million Series ANew twists on digital bankingZach Bruhnke, cofounder and CEO of HMBradleyHMBradleyConsumers are getting used to the idea of branch-less banking, a trend that startup digital-only banks like Chime, N26, and Varo have benefited from. The majority of these fintechs target those who are underbanked, and rely on usage of their debit cards to make money off interchange. But fellow startup HMBradley has a different business model. "Our thesis going in was that we don't swipe our debit cards all that often, and we don't think the customer base that we're focusing on does either," Zach Bruhnke, cofounder and CEO of HMBradley, told Insider. "A lot of our customer base uses credit cards on a daily basis."Instead, the startup is aiming to build clientele with stable deposits. As a result, the bank is offering interest-rate tiers depending on how much a customer saves of their direct deposit.Notably, the rate tiers are dependent on the percentage of savings, not the net amount. "We'll pay you more when you save more of what comes in," Bruhnke said. "We didn't want to segment customers by how much money they had. So it was always going to be about a percentage of income. That was really important to us."Check out the 14-page pitch deck fintech HMBradley, a neobank offering interest rates as high as 3%, used to raise an $18.25 million Series ARead the original article on Business Insider.....»»

Category: topSource: businessinsiderDec 16th, 2021

Our Shopping Obsession Is a Boon to Box Makers, But Not to Their Neighbors

Box factories smell, and the neighborhoods near them say ramped-up production to meet online shopping needs is making life miserable The world is on a spending spree, and no matter what you’re buying, it’s probably going to have been in a box at some point along its route to you. That means companies are rushing to build pulp mills and box factories to meet demand, and many of them are in the United States. About 40 billion boxes—equal to 407 billion square feet, which is roughly the size of Switzerland —were shipped in the U.S. in 2020, surpassing the previous record from 1999 set amidst a hot economy and burgeoning e-commerce. This year is likely to beat that record; in the first nine months of 2021, box shipments were up 3.9% from 2020, according to the Fibre Box Association. [time-brightcove not-tgx=”true”] But making paper products is a smelly operation, and as more box factories expand into U.S. neighborhoods, there’s come a pushback from people who don’t want to be downwind of an American manufacturing revival. In South Carolina, three groups of plaintiffs filed lawsuits this summer against New-Indy, a company that converted a paper mill to make containerboard, saying the conversion has made the air dangerous and unhealthy; the state received more than 17,000 complaints of noxious odors from citizens near the New-Indy plant in the first half of this year, which it calls “an unprecedented number.” New York state fined a Niagara Falls paper mill $375,000 in September for “intolerable odors” that it said impacted the health of the surrounding neighborhood, especially in the summer; the mill, Cascades Containerboard Packaging, agreed to spend millions of dollars in equipment upgrades. The mill says the smell comes from sludge created when the plant processes recycled paper into cardboard, and this recycled sludge was generated at higher rates this year to meet higher demand for boxes. David Goldman—APThe Midwest Paper Group mill in Combined Locks, Wis., is seen from across the the river in Little Chute, Wis., on Aug. 18, 2020. The mill is one of many that switched its focus from producing paper to cardboard for boxes as online shopping soared. And in Kalamazoo, Mich., residents filed a lawsuit against paperboard maker Graphic Packaging International after they say the company started production on a machine that would increase output by 500,000 tons a year; the residents say the mill has “discharged discrete and offensive noxious odors, air particulates, and fugitive dust” into the air. Adding to the tensions: many of these odor-emitting factories are in communities of color, which by virtue of zoning laws find themselves tucked against industrial zones. People of color account for the bulk of exposure to industrial pollutants in the United States, according to a study published in April in ScienceAdvances. How the pandemic changed shopping The complaints about the box factories coincide with the reversal of a long-term trend in the U.S. that saw mills shutting down as demand for printer paper and newspapers waned. Now, shuttered mills that once printed newspapers and magazines in places like Old Town, Maine and Port Angeles, Wash., are reopening to make pulp and containerboard—the liner and brown paper used to make a cardboard box. There are even new mills opening in places like Green Bay, Wisc. and Wapakoneta, Ohio, and new mills planned in places like Henderson, Ky. Though e-commerce has long driven an increase in the boxes passing through the average American’s home, until now it had not led to a huge uptick in box production; the boxes being sent to people’s homes were merely in lieu of the boxes carrying goods to brick and mortar stores. The pandemic changed that. Read more: I Tried Buying Only Used Holiday Gifts. It Changed How I Think About Shopping “There was this extraordinary shift from spending on services to spending on goods,” says Adam Josephson, a paper and packaging analyst at KeyBanc Capital Markets. “Higher purchases of goods leads to higher use of boxes.” Now, people are buying so much stuff—a record $16.3 trillion in October in the U.S. alone—that there’s more demand for boxes than ever before. E-commerce and mail order use seven times more corrugated cardboard per dollar of sales than traditional retail does, according to Fastmarkets RISI, which tracks the industry. The new and updated mills in the U.S.—30 since 2017 by the count of the Northeast Recycling Council—are a boon to efforts to jumpstart American manufacturing and create new jobs in a long dwindling industry. But the manufacturing process can create hydrogen sulfide and other substances that smell like rotten eggs. In some places where mills have come on line or increased production, residents say that the problem goes beyond stench and that the operations, running at full capacity, are polluting the air and water. The downside of ‘Made in America’ For decades, Americans have bought things made from minerals extracted elsewhere, assembled in faraway factories where the stench and pollution impacted someone else. Now that more boxes are being made in the United States, some residents are confronting one of the pitfalls to making things in America again. “It started as rotten eggs but recently it’s been a sweet port-a-potty, urinal cake smell,” says Kerri Bishop, 34, who runs a Facebook group for people trying to do something about the smell in Catawba, S.C., where the New-Indy mill is located. “I don’t really leave my house—it’s worse when I go outside, and I never know when it’s going to hit,” she says. Bishop, who moved her family to South Carolina from Rochester, N.Y., in 2016, says that before the conversion, the mill would make the air smell like rotten eggs a few times a year, but it didn’t bother her. Then, New-Indy Containerboard, a joint venture part-owned by the Kraft Group, bought the mill in 2018 and converted it to making brown paper for containerboard. The mill began high-volume production in February of 2021, and people working within a 30-mile radius started complaining of strong odors and physical reactions, according to the lawsuit. As Robert Kraft, the owner of the New England Patriots and New-Indy Containerboard, headed to his plane, he drove by me, photojournalist Chelsea Pomales, and our big @wcnc sign. We hope Mr. Kraft will follow through and call us. pic.twitter.com/ntV39RZQPn — Brandon Goldner (@BrandonWCNC) November 7, 2021 In order to start making brown paper at the mill, New-Indy had to apply for a new permit; the permit application estimated that hydrogen sulfide emissions would not significantly increase because of the conversion, according to the South Carolina Department of Health and Environmental Control, or DHEC. The state began receiving thousands of complaints about foul odors in the vicinity in February 2021; when it investigated, it found the odors were coming from the mill. When it asked for information about current sludge management at the facility, the state says, New-Indy provided documents from 2014 and 2017, before the conversion. “It started as rotten eggs, but recently it’s been a sweet port-a-potty, urinal cake smell.” In May 2021, the EPA issued an emergency order under the Clean Air Act requiring the company to reduce hydrogen sulfide emissions and install air quality monitors on its fence line. But for Bishop and other residents, that’s not enough; the company was only required to install a few monitors, and air quality has not improved since May, she says. She and other residents blame the odor on something called a steam-stripper, which treats foul condensate; they say that because of the increased volume at the plant, the steam-stripper can’t handle all the waste the company is producing. Bishop has a cranial nerve disorder, which means the smells hit her even harder, making her physically ill; she gets dizzy and starts seeing spots, she says. Her youngest son developed a rash on his face. She and others say that the environmental agencies are monitoring for the wrong chemicals and that the wastewater the mill is sending into surrounding lagoons is contaminating the groundwater. They say that the problem isn’t just the smell, but that the mill is polluting the air, causing nausea, rashes, and other health problems. Other residents say they can’t take their dogs outside when the smell hits, that they can’t sleep at night; one woman says she keeps a gas mask by her bed to wear when the air seems particularly dirty. New-Indy declined to comment for this story. Paul Hennessy—NurPhoto/Getty ImagesBoaters pass near the Georgia-Pacific pulp and paper mill on Dec. 14, 2020 in Brunswick, Georgia. The China connection There’s another reason that there’s a boom in paper mills in the U.S. In 2018, China stopped accepting most types of recycled material from the U.S., including paper and cardboard. That created an opportunity for paper mills that previously couldn’t compete with China on cost. There was cardboard available to recycle, so mills just had to be retrofitted to turn that cardboard into more cardboard. “The Chinese import restrictions changed the recycling equation and spurred a revitalization of the U.S. mill industry,” says Colin Staub, senior reporter at Resource Recycling, who compiled a map of more than two dozen conversions and new mills announced across the U.S. “We’re certainly seeing more interest in buying and opening paper mills.” China consumes 107 million tons of paper per year, but it has fewer trees to use for pulp and less of a recycling infrastructure than the U.S. Its import restrictions mean that it can primarily import pulp, not cardboard, so some Chinese companies are funding new mills in the U.S. to make pulp that can then be sent overseas. A Chinese company, Nine Dragons, reopened the shuttered mill in Old Town, Maine to make pulp to export to China for boxes. (The mill spilled more than 30,700 gallons of chemicals into the Penobscot River in 2020, violating state and federal laws, causing a rise in the river’s PH level and prompting the Penobscot Nation to advocate for greater stewardship of the river.) Of course, the pulp mills and containerboard factories opening now are much more sustainable than the mills of the past. These mills are an important part of the circular economy in which nothing is thrown away and everything is reused; without mills to recycle cardboard, it would be going to a landfill. Jon Cherry—Getty Images Amanda Eversole, a UPS employee and package handler, watches boxes rush past after clearing a chute jam on Dec. 6, 2021 in Louisville, Kentucky. But the communities hosting these mills often don’t want to have to bear the brunt of our obsession with shopping. “They’re causing pollution that’s never going to leave; they’re turning their own community into a superfund site,” says Jackie Lane, a marine biologist who lives near an International Paper mill in Cantonment, Fla., that she and others say has long polluted Perdido Bay. International Paper failed to meet its wastewater treatment plant permit limits for toxicity on 19 documented occasions from 2015 to 2019, according to a final consent order executed by the state in May. The consent order fines International Paper $190,000 in penalties and requires it to pay a $10,000 fine every time it fails certain water quality tests, an order Lane says is a slap on the wrist. International Paper said in a statement that its monitoring, done in coordination with the state, has shown that the wetlands are “biologically rich and diverse” and that it works closely with the state to preserve the wetlands. International Paper employs more than 500 Alabama and Florida residents, the company said. ‘Environmental racism’ Most of the new and improved paper mills are on sites that have long held paper mills—it’s much easier to get the permits and infrastructure on an existing site than to build a new factory. But that’s meant that because of historical zoning practices that located polluting plants near Black neighborhoods, it’s minority neighborhoods who are subject to much of this pollution. Earlier this year, a former resident filed a complaint against the city of Kalamazoo with the Michigan Department of Civil Rights, alleging that leaders discriminated against Black residents by approving a tax break that allowed Graphic Packaging to expand in a predominantly Black neighborhood. The city also agreed to cut down 721 trees for the company, according to the complaint. George Rose—Getty ImagesHoliday shopping contributes to a backlog of boxes outside a U.S. Post Office in Solvang, Calif., on Nov. 27, 2021. Brandi Crawford-Johnson, the plaintiff, also filed a complaint against Michigan’s Department of Environment, Great Lakes, and Energy, alleging that it discriminated against a predominantly Black neighborhood when it approved changes to an air permit allowing Graphic Packaging to expand in November of 2020. In November, the EPA’s Civil Rights Compliance Office said that it would investigate this complaint. “It’s environmental racism,” says Crawford-Johnson, who after moving to the neighborhood was shocked to learn how many of her neighbors had asthma and other health problems. Graphic Packaging said in a statement that the expansion is not yet fully operational and that it has taken several steps over the years to mitigate potential odors. Though it does not comment on pending litigation, the company that there are several other local manufacturers and a city wastewater treatment plant near its operations, and the odors are caused by “a number of complex factors.” And in Brunswick, Georgia, which is 55% Black, residents have long been accustomed to the smell of rotten eggs from a nearby Georgia-Pacific pulp mill. But starting in December of 2020, residents started having such severe health reactions to the smell that some called 911 because they couldn’t breathe in their homes, says Rachael Thompson, the executive director of the Glynn Environmental Coalition. “I feel like if this were a Caucasian neighborhood and community, more would be done about it,” one resident who called 911, Spanline Dixon, told The Current, a news site covering coastal Georgia. Brunswick is home to four Superfund sites, but the University of Georgia worked with the Glynn Environmental Coalition to analyze weather reports and track what was upstream from the odor complaints. The study showed definitively a direct correlation between the mill and the odors, Thompson says. Her group has received 130 complaints since last year; the only time it did not receive any complaints was during a month the mill was temporarily closed. A Georgia-Pacific spokesman said, in an email, that the company is aware of the odor complaints and shares the community’s concern. The company is working with the state environmental regulatory agency and other stakeholders to identify and mitigate the potential sources of the odor, the spokesman said. Read more: How American Shoppers Broke the Supply Chain Tensions between growing demand for paper and the environmental problems that causes aren’t limited to the U.S. In Indonesia, more than 30 community groups sent a letter to Asia Pulp & Paper in August arguing that the mill’s plan to triple pulp production will risk the respiratory health of millions of people. And a community in Nova Scotia is divided after a paper company is taking legal action to reopen a mill that was shut in 2020 after community concerns about its wastewater discharge. One thing’s for sure, says Joshua Martin, director of the Environmental Paper Network—these conflicts are likely to mount as the world consumes more packaging. The problem isn’t just that mills create bad odors; despite high cardboard recycling rates, trees are still cut down to make packaging—around 3 billion a year, according to EPN. Although cardboard is easier to recycle than other products like plastic, it can only be recycled about 5-7 times before it can’t be used any more. Recycled cardboard is often mixed with virgin pulp to make boxes. The U.S. drives that demand—it consumes 202 kg of paper and paperboard per capita, compared to Africa’s 6 kg per capita, Latin America’s 44 kg per capita, and Asia’s 44 kg per capita, according to the Food and Agricultural Organization of the United Nations. “If the entire world used the amount of paper as America currently does, it would be completely unsustainable,” he says. The only way to reverse this trend, he says, is to change the way we buy things to have less dependence on paper and packaging. Consumers can send messages to companies by patronizing businesses that use packaging certified by the Forest Stewardship Council; they can try brands like Loop that deliver groceries in reusable packaging, which Loop then collects. Perhaps the easiest solution, though, is to buy less stuff that you’re going to toss soon—disposable coffee cups or takeout packaging or multiple e-commerce orders. “It’s this culture of disposability and single-use, no matter what the product is made from, that needs to change,” he says. It’s something Kerri Bishop, the South Carolina resident, is taking to heart. Bishop spent her career working in manufacturing and says she didn’t join the class-action lawsuit and didn’t even want the mill to shut down at first. She just hoped they would upgrade their equipment. Now, though, she’s worried she moved to a state that values manufacturing and jobs more than the quality of life and health of its residents. She’s considering getting a home air filtration system. Once a frequent Amazon shopper, she tired of ordering a few different things and having them arrive in many different boxes, even if she tried to get them to all come the same day. She’d heard from a local politician that the New-Indy boxes were being used by Amazon, so she started boycotting the online retailer. She lifted the boycott for the holidays, as higher prices and supply chain problems made it hard to buy things elsewhere, but Bishop says she plans to stop shopping at Amazon again in January.    .....»»

Category: topSource: timeDec 15th, 2021

Check out 27 pitch decks that fintechs disrupting trading, banking, and lending used to raise millions

Looking for examples of real fintech pitch decks? Check out pitch decks that Qolo, Lance, and other startups used to raise money from VCs. Check out these pitch decks for examples of fintech founders sold their vision.Yulia Reznikov/Getty Images Insider has been tracking the next wave of hot new startups that are blending finance and tech.  Check out these pitch decks to see how fintech founders sold their vision. See more stories on Insider's business page. Fintech VC  funding hit a fresh quarterly record of $22.8 billion in the first three months of 2021, according to CB Insights data. While mega-rounds helped propel overall funding, new cash was spread across 614 deals. Insider has been tracking the next wave of hot new startups that are blending finance and tech. Check out these pitch decks to see how fintech founders are selling their vision and nabbing big bucks in the process. You'll see new financial tech geared at freelancers, fresh twists on digital banking, and innovation aimed at streamlining customer onboarding. Helping freelancers with their taxesJaideep Singh is the CEO and co-founder of FlyFin, an AI-driven tax preparation software program for freelancers.FlyFinSome people, particularly those with families or freelancing businesses, spend days searching for receipts for tax season, making tax preparation a time consuming and, at times, taxing experience. That's why in 2020 Jaideep Singh founded FlyFin, an artificial-intelligence tax preparation program for freelancers that helps people, as he puts it, "fly through their finances." FlyFin is set up to connect to a person's bank accounts, allowing the AI program to help users monitor for certain expenses that can be claimed on their taxes like business expenditures, the interest on mortgages, property taxes, or whatever else that might apply. "For most individuals, people have expenses distributed over multiple financial institutions. So we built an AI platform that is able to look at expenses, understand the individual, understand your profession, understand the freelance population at large, and start the categorization," Singh told Insider.Check out the 7-page pitch deck a startup helping freelancers manage their taxes used to nab $8 million in funding Shopify for embedded financeProductfy CEO and founder, Duy Vo.ProductfyProductfy is looking to break into embedded finance by becoming the Shopify of back-end banking services.Embedded finance — integrating banking services in non-financial settings — has taken hold in the e-commerce world. But Productfy is going after a different kind of customer in churches, universities, and nonprofits.The San Jose, Calif.-based upstart aims to help non-finance companies offer their own banking products. Productfy can help customers launch finance features in as little as a week and without additional engineering resources or background knowledge of banking compliance or legal requirements, Productfy founder and CEO Duy Vo told Insider. "You don't need an engineer to stand up Shopify, right? You can be someone who's just creating art and you can use Shopify to build your own online store," Vo said, adding that Productfy is looking to take that user experience and replicate it for banking services.Here's the 15-page pitch deck Productfy, a fintech looking to be the Shopify of embedded finance, used to nab a $16 million Series AReal-estate management made easyAgora founders Noam Kahan, CTO, Bar Mor, CEO, and Lior Dolinski, CPO.AgoraFor alternative asset managers of any type, the operations underpinning sales and investor communications are a crucial but often overlooked part of the business. Fund managers love to make bets on markets, not coordinate hundreds of wire transfers to clients each quarter or organize customer-relationship-management databases.Within the $10.6 trillion global market for professionally managed real-estate investing, that's where Tel Aviv and New York-based startup Agora hopes to make its mark.Founded in 2019, Agora offers a set of back-office, investor relations, and sales software tools that real-estate investment managers can plug into their workflows. On Wednesday, Agora announced a $9 million seed round, led by Israel-based venture firm Aleph, with participation from River Park Ventures and Maccabee Ventures. The funding comes on the heels of an October 2020 pre-seed fund raise worth $890,000, in which Maccabee also participated.Here's the 15-slide pitch deck that Agora, a startup helping real-estate investors manage communications and sales with their clients, used to raise a $9 million seed roundCheckout made easyBolt's Ryan Breslow.Ryan BreslowAmazon has long dominated e-commerce with its one-click checkout flows, offering easier ways for consumers to shop online than its small-business competitors.Bolt gives small merchants tools to offer the same easy checkouts so they can compete with the likes of Amazon.The startup raised its $393 million Series D to continue adding its one-click checkout feature to merchants' own websites in October.Bolt markets to merchants themselves. But a big part of Bolt's pitch is its growing network of consumers — currently over 5.6 million — that use its features across multiple Bolt merchant customers. Roughly 5% of Bolt's transactions were network-driven in May, meaning users that signed up for a Bolt account on another retailer's website used it elsewhere. The network effects were even more pronounced in verticals like furniture, where 49% of transactions were driven by the Bolt network."The network effect is now unleashed with Bolt in full fury, and that triggered the raise," Bolt's founder and CEO Ryan Breslow told Insider.Here's the 12-page deck that one-click checkout Bolt used to outline its network of 5.6 million consumers and raise its Series DHelping small banks lendCollateralEdge's Joel Radtke, cofounder, COO, and president, and Joe Beard, cofounder and CEO.CollateralEdgeFor large corporations with a track record of tapping the credit markets, taking out debt is a well-structured and clear process handled by the nation's biggest investment banks and teams of accountants. But smaller, middle-market companies — typically those with annual revenues ranging up to $1 billion — are typically served by regional and community banks that don't always have the capacity to adequately measure the risk of loans or price them competitively. Per the National Center for the Middle Market, 200,000 companies fall into this range, accounting for roughly 33% of US private sector GDP and employment.Dallas-based fintech CollateralEdge works with these banks — typically those with between $1 billion and $50 billion in assets — to help analyze and price slices of commercial and industrial loans that previously might have gone unserved by smaller lenders.On October 20th, CollateralEdge announced a $3.5 million seed round led by Dallas venture fund Perot Jain with participation from Kneeland Youngblood (a founder of the healthcare-focused private-equity firm Pharos Capital) and other individual investors.Here's the 10-page deck CollateralEdge, a fintech streamlining how small banks lend to businesses, used to raise a $3.5 million seed round Quantum computing made easyQC Ware CEO Matt Johnson.QC WareEven though banks and hedge funds are still several years out from adding quantum computing to their tech arsenals, that hasn't stopped Wall Street giants from investing time and money into the emerging technology class. And momentum for QC Ware, a startup looking to cut the time and resources it takes to use quantum computing, is accelerating. The fintech secured a $25 million Series B on September 29 co-led by Koch Disruptive Technologies and Covestro with participation from D.E. Shaw, Citi, and Samsung Ventures.QC Ware, founded in 2014, builds quantum algorithms for the likes of Goldman Sachs (which led the fintech's Series A), Airbus, and BMW Group. The algorithms, which are effectively code bases that include quantum processing elements, can run on any of the four main public-cloud providers.Quantum computing allows companies to do complex calculations faster than traditional computers by using a form of physics that runs on quantum bits as opposed to the traditional 1s and 0s that computers use. This is especially helpful in banking for risk analytics or algorithmic trading, where executing calculations milliseconds faster than the competition can give firms a leg up. Here's the 20-page deck QC Ware, a fintech making quantum computing more accessible, used to raised its $25 million Series BSimplifying quant modelsKirat Singh and Mark Higgins, Beacon's cofounders.BeaconA fintech that helps financial institutions use quantitative models to streamline their businesses and improve risk management is catching the attention, and capital, of some of the country's biggest investment managers.Beacon Platform, founded in 2014, is a fintech that builds applications and tools to help banks, asset managers, and trading firms quickly integrate quantitative models that can help with analyzing risk, ensuring compliance, and improving operational efficiency. The company raised its Series C on Wednesday, scoring a $56 million investment led by Warburg Pincus with support from Blackstone Innovations Investments, PIMCO, and Global Atlantic. Blackstone, PIMCO, and Global Atlantic are also users of Beacon's tech, as are the Commonwealth Bank of Australia and Shell New Energies, a division of Royal Dutch Shell, among others.The fintech provides a shortcut for firms looking to use quantitative modelling and data science across various aspects of their businesses, a process that can often take considerable resources if done solo.Here's the 20-page pitch deck Beacon, a fintech helping Wall Street better analyze risk and data, used to raise $56 million from Warburg Pincus, Blackstone, and PIMCOInvoice financing for SMBsStacey Abrams and Lara Hodgson, Now cofounders.NowAbout a decade ago, politician Stacey Abrams and entrepreneur Lara Hodgson were forced to fold their startup because of a kink in the supply chain — but not in the traditional sense.Nourish, which made spill-proof bottled water for children, had grown quickly from selling to small retailers to national ones. And while that may sound like a feather in the small business' cap, there was a hang-up."It was taking longer and longer to get paid, and as you can imagine, you deliver the product and then you wait and you wait, but meanwhile you have to pay your employees and you have to pay your vendors," Hodgson told Insider. "Waiting to get paid was constraining our ability to grow."While it's not unusual for small businesses to grapple with working capital issues, the dust was still settling from the Great Recession. Abrams and Hodgson couldn't secure a line of credit or use financing tools like factoring to solve their problem. The two entrepreneurs were forced to close Nourish in 2012, but along the way they recognized a disconnect in the system.  "Why are we the ones borrowing money, when in fact we're the lender here because every time you send an invoice to a customer, you've essentially extended a free loan to that customer by letting them pay later," Hodgson said. "And the only reason why we were going to need to possibly borrow money was because we had just given ours away for free to Whole Foods," she added.Check out the 7-page deck that Now, Stacey Abrams' fintech that wants to help small businesses 'grow fearlessly', used to raise $29 millionInsurance goes digitalJamie Hale, CEO and cofounder of Ladder.LadderFintechs looking to transform how insurance policies are underwritten, issued, and experienced by customers have grown as new technology driven by digital trends and artificial intelligence shape the market. And while verticals like auto, homeowner's, and renter's insurance have seen their fair share of innovation from forward-thinking fintechs, one company has taken on the massive life-insurance market. Founded in 2017, Ladder uses a tech-driven approach to offer life insurance with a digital, end-to-end service that it says is more flexible, faster, and cost-effective than incumbent players.Life, annuity, and accident and health insurance within the US comprise a big chunk of the broader market. In 2020, premiums written on those policies totaled some $767 billion, compared to $144 billion for auto policies and $97 billion for homeowner's insurance.Here's the 12-page deck that Ladder, a startup disrupting the 'crown jewel' of the insurance market, used to nab $100 millionEmbedded payments for SMBsThe Highnote team.HighnoteBranded cards have long been a way for merchants with the appropriate bank relationships to create additional revenue and build customer loyalty. The rise of embedded payments, or the ability to shop and pay in a seamless experience within a single app, has broadened the number of companies looking to launch branded cards.Highnote is a startup that helps small to mid-sized merchants roll out their own debit and pre-paid digital cards. The fintech emerged from stealth on Tuesday to announce it raised $54 million in seed and Series A funding.Here's the 12-page deck Highnote, a startup helping SMBs embed payments, used to raise $54 million in seed and Series A fundingAn alternative auto lenderDaniel Chu, CEO and founder of Tricolor.TricolorAn alternative auto lender that caters to thin- and no-credit Hispanic borrowers is planning a national expansion after scoring a $90 million investment from BlackRock-managed funds. Tricolor is a Dallas-based auto lender that is a community development financial institution. It uses a proprietary artificial-intelligence engine that decisions each customer based on more than 100 data points, such as proof of income. Half of Tricolor's customers have a FICO score, and less than 12% have scores above 650, yet the average customer has lived in the US for 15 years, according to the deck.A 2017 survey by the Federal Deposit Insurance Corporation found 31.5% of Hispanic households had no mainstream credit compared to 14.4% of white households. "For decades, the deck has been stacked against low income or credit invisible Hispanics in the United States when it comes to the purchase and financing of a used vehicle," Daniel Chu, founder and CEO of Tricolor, said in a statement announcing the raise.An auto lender that caters to underbanked Hispanics used this 25-page deck to raise $90 million from BlackRock investorsA new way to access credit The TomoCredit team.TomoCreditKristy Kim knows first-hand the challenge of obtaining credit in the US without an established credit history. Kim, who came to the US from South Korea, couldn't initially get access to credit despite having a job in investment banking after graduating college. "I was in my early twenties, I had a good income, my job was in investment banking but I could not get approved for anything," Kim told Insider. "Many young professionals like me, we deserve an opportunity to be considered but just because we didn't have a Fico, we weren't given a chance to even apply," she added.Kim started TomoCredit in 2018 to help others like herself gain access to consumer credit. TomoCredit spent three years building an internal algorithm to underwrite customers based on cash flow, rather than a credit score.TomoCredit, a fintech that lends to thin- and no-credit borrowers, used this 17-page pitch deck to raise its $10 million Series AAn IRA for alternativesHenry Yoshida is the co-founder and CEO of retirement fintech startup Rocket Dollar.Rocket DollarFintech startup Rocket Dollar, which helps users invest their individual retirement account (IRA) dollars into alternative assets, just raised $8 million for its Series A round, the company announced on Thursday.Park West Asset Management led the round, with participation from investors including Hyphen Capital, which focuses on backing Asian American entrepreneurs, and crypto exchange Kraken's venture arm. Co-founded in 2018 by CEO Henry Yoshida, CTO Rick Dude, and VP of marketing Thomas Young, Rocket Dollar now has over $350 million in assets under management on its platform. Yoshida sold his first startup, a roboadvisor called Honest Dollar, to Goldman Sachs' investment management division for an estimated $20 million.Yoshida told Insider that while ultra-high net worth investors have been investing self-directed retirement account dollars into alternative assets like real estate, private equity, and cryptocurrency, average investors have not historically been able to access the same opportunities to invest IRA dollars in alternative assets through traditional platforms.Here's the 34-page pitch deck a fintech that helps users invest their retirement savings in crypto and real estate assets used to nab $8 millionConnecting startups and investorsHum Capital cofounder and CEO Blair Silverberg.Hum CapitalBlair Silverberg is no stranger to fundraising.For six years, Silverberg was a venture capitalist at Draper Fisher Jurvetson and Private Credit Investments making bets on startups."I was meeting with thousands of founders in person each year, watching them one at a time go through this friction where they're meeting a ton of investors, and the investors are all asking the same questions," Silverberg told Insider. He switched gears about three years ago, moving to the opposite side of the metaphorical table, to start Hum Capital, which uses artificial intelligence to match investors with startups looking to fundraise.On August 31, the New York-based fintech announced its $9 million Series A. The round was led by Future Ventures with participation from Webb Investment Network, Wavemaker Partners, and Partech. This 11-page pitch deck helped Hum Capital, a fintech using AI to match investors with startups, raise a $9 million Series A.Payments infrastructure for fintechsQolo CEO and co-founder Patricia Montesi.QoloThree years ago, Patricia Montesi realized there was a disconnect in the payments world. "A lot of new economy companies or fintech companies were looking to mesh up a lot of payment modalities that they weren't able to," Montesi, CEO and co-founder of Qolo, told Insider.Integrating various payment capabilities often meant tapping several different providers that had specializations in one product or service, she added, like debit card issuance or cross-border payments. "The way people were getting around that was that they were creating this spider web of fintech," she said, adding that "at the end of it all, they had this mess of suppliers and integrations and bank accounts."The 20-year payments veteran rounded up a group of three other co-founders — who together had more than a century of combined industry experience — to start Qolo, a business-to-business fintech that sought out to bundle back-end payment rails for other fintechs.Here's the 11-slide pitch deck a startup that provides payments infrastructure for other fintechs used to raise a $15 million Series ASoftware for managing freelancersWorksome cofounder and CEO Morten Petersen.WorksomeThe way people work has fundamentally changed over the past year, with more flexibility and many workers opting to freelance to maintain their work-from-home lifestyles.But managing a freelance or contractor workforce is often an administrative headache for employers. Worksome is a startup looking to eliminate all the extra work required for employers to adapt to more flexible working norms.Worksome started as a freelancer marketplace automating the process of matching qualified workers with the right jobs. But the team ultimately pivoted to a full suite of workforce management software, automating administrative burdens required to hire, pay, and account for contract workers.In May, Worksome closed a $13 million Series A backed by European angel investor Tommy Ahlers and Danish firm Lind & Risør.Here's the 21-slide pitch deck used by a startup that helps firms like Carlsberg and Deloitte manage freelancersPersonal finance is only a text awayYinon Ravid, the chief executive and cofounder of Albert.AlbertThe COVID-19 pandemic has underscored the growing preference of mobile banking as customers get comfortable managing their finances online.The financial app Albert has seen a similar jump in activity. Currently counting more than six million members, deposits in Albert's savings offering doubled from the start of the pandemic in March 2020 to May of this year, from $350 million to $700 million, according to new numbers released by the company. Founded in 2015, Albert offers automated budgeting and savings tools alongside guided investment portfolios. It's looked to differentiate itself through personalized features, like the ability for customers to text human financial experts.Budgeting and saving features are free on Albert. But for more tailored financial advice, customers pay a subscription fee that's a pay-what-you-can model, between $4 and $14 a month. And Albert's now banking on a new tool to bring together its investing, savings, and budgeting tools.Fintech Albert used this 10-page pitch deck to raise a $100 million Series C from General Atlantic and CapitalGRethinking debt collection Jason Saltzman, founder and CEO of ReliefReliefFor lenders, debt collection is largely automated. But for people who owe money on their credit cards, it can be a confusing and stressful process.  Relief is looking to change that. Its app automates the credit-card debt collection process for users, negotiating with lenders and collectors to settle outstanding balances on their behalf. The fintech just launched and closed a $2 million seed round led by Collaborative Ventures. Relief's fundraising experience was a bit different to most. Its pitch deck, which it shared with one investor via Google Slides, went viral. It set out to raise a $1 million seed round, but ended up doubling that and giving some investors money back to make room for others.Check out a 15-page pitch deck that went viral and helped a credit-card debt collection startup land a $2 million seed roundBlockchain for private-markets investing Carlos Domingo is cofounder and CEO of Securitize.SecuritizeSecuritize, founded in 2017 by the tech industry veterans Carlos Domingo and Jamie Finn, is bringing blockchain technology to private-markets investing. The company raised $48 million in Series B funding on June 21 from investors including Morgan Stanley and Blockchain Capital.Securitize helps companies crowdfund capital from individual and institutional investors by issuing their shares in the form of blockchain tokens that allow for more efficient settlement, record keeping, and compliance processes. Morgan Stanley's Tactical Value fund, which invests in private companies, made its first blockchain-technology investment when it coled the Series B, Securitize CEO Carlos Domingo told Insider.Here's the 11-page pitch deck a blockchain startup looking to revolutionize private-markets investing used to nab $48 million from investors like Morgan StanleyE-commerce focused business bankingMichael Rangel, cofounder and CEO, and Tyler McIntyre, cofounder and CTO of Novo.Kristelle Boulos PhotographyBusiness banking is a hot market in fintech. And it seems investors can't get enough.Novo, the digital banking fintech aimed at small e-commerce businesses, raised a $40.7 million Series A led by Valar Ventures in June. Since its launch in 2018, Novo has signed up 100,000 small businesses. Beyond bank accounts, it offers expense management, a corporate card, and integrates with e-commerce infrastructure players like Shopify, Stripe, and Wise.Founded in 2018, Novo was based in New York City, but has since moved its headquarters to Miami. Here's the 12-page pitch deck e-commerce banking startup Novo used to raise its $40 million Series ABlockchain-based credit score tech John Sun, Anna Fridman, and Adam Jiwan are the cofounders of fintech startup Spring Labs.Spring LabsA blockchain-based fintech startup that is aiming to disrupt the traditional model of evaluating peoples' creditworthiness recently raised $30 million in a Series B funding led by credit reporting giant TransUnion.Four-year-old Spring Labs aims to create a private, secure data-sharing model to help credit agencies better predict the creditworthiness of people who are not in the traditional credit bureau system. The founding team of three fintech veterans met as early employees of lending startup Avant.Existing investors GreatPoint Ventures and August Capital also joined in on the most recent round.  So far Spring Labs has raised $53 million from institutional rounds.TransUnion, a publicly-traded company with a $20 billion-plus market cap, is one of the three largest consumer credit agencies in the US. After 18 months of dialogue and six months of due diligence, TransAmerica and Spring Labs inked a deal, Spring Labs CEO and cofounder Adam Jiwan told Insider.Here's the 10-page pitch deck blockchain-based fintech Spring Labs used to snag $30 million from investors including credit reporting giant TransUnionDigital banking for freelancersJGalione/Getty ImagesLance is a new digital bank hoping to simplify the life of those workers by offering what it calls an "active" approach to business banking. "We found that every time we sat down with the existing tools and resources of our accountants and QuickBooks and spreadsheets, we just ended up getting tangled up in the whole experience of it," Lance cofounder and CEO Oona Rokyta told Insider. Lance offers subaccounts for personal salaries, withholdings, and savings to which freelancers can automatically allocate funds according to custom preset levels. It also offers an expense balance that's connected to automated tax withholdings.In May, Lance announced the closing of a $2.8 million seed round that saw participation from Barclays, BDMI, Great Oaks Capital, Imagination Capital, Techstars, DFJ Frontier, and others.Here's the 21-page pitch deck Lance, a digital bank for freelancers, used to raise a $2.8 million seed round from investors including BarclaysDigital tools for independent financial advisorsJason Wenk, founder and CEO of AltruistAltruistJason Wenk started his career at Morgan Stanley in investment research over 20 years ago. Now, he's running a company that is hoping to broaden access to financial advice for less-wealthy individuals. The startup raised $50 million in Series B funding led by Insight Partners with participation from investors Vanguard and Venrock. The round brings the Los Angeles-based startup's total funding to just under $67 million.Founded in 2018, Altruist is a digital brokerage built for independent financial advisors, intended to be an "all-in-one" platform that unites custodial functions, portfolio accounting, and a client-facing portal. It allows advisors to open accounts, invest, build models, report, trade (including fractional shares), and bill clients through an interface that can advisors time by eliminating mundane operational tasks.Altruist aims to make personalized financial advice less expensive, more efficient, and more inclusive through the platform, which is designed for registered investment advisors (RIAs), a growing segment of the wealth management industry. Here's the pitch deck for Altruist, a wealth tech challenging custodians Fidelity and Charles Schwab, that raised $50 million from Vanguard and InsightPayments and operations support HoneyBook cofounders Dror Shimoni, Oz Alon, and Naama Alon.HoneyBookWhile countless small businesses have been harmed by the pandemic, self-employment and entrepreneurship have found ways to blossom as Americans started new ventures.Half of the US population may be freelance by 2027, according to a study commissioned by remote-work hiring platform Upwork. HoneyBook, a fintech startup that provides payment and operations support for freelancers, in May raised $155 million in funding and achieved unicorn status with its $1 billion-plus valuation.Durable Capital Partners led the Series D funding with other new investors including renowned hedge fund Tiger Global, Battery Ventures, Zeev Ventures, and 01 Advisors. Citi Ventures, Citigroup's startup investment arm that also backs fintech robo-advisor Betterment, participated as an existing investor in the round alongside Norwest Venture partners. The latest round brings the company's fundraising total to $227 million to date.Here's the 21-page pitch deck a Citi-backed fintech for freelancers used to raise $155 million from investors like hedge fund Tiger GlobalFraud prevention for lenders and insurersFiordaliso/Getty ImagesOnboarding new customers with ease is key for any financial institution or retailer. The more friction you add, the more likely consumers are to abandon the entire process.But preventing fraud is also a priority, and that's where Neuro-ID comes in. The startup analyzes what it calls "digital body language," or, the way users scroll, type, and tap. Using that data, Neuro-ID can identify fraudulent users before they create an account. It's built for banks, lenders, insurers, and e-commerce players."The train has left the station for digital transformation, but there's a massive opportunity to try to replicate all those communications that we used to have when we did business in-person, all those tells that we would get verbally and non-verbally on whether or not someone was trustworthy," Neuro-ID CEO Jack Alton told Insider.Founded in 2014, the startup's pitch is twofold: Neuro-ID can save companies money by identifying fraud early, and help increase user conversion by making the onboarding process more seamless. In December Neuro-ID closed a $7 million Series A, co-led by Fin VC and TTV Capital, with participation from Canapi Ventures. With 30 employees, Neuro-ID is using the fresh funding to grow its team and create additional tools to be more self-serving for customers.Here's the 11-slide pitch deck a startup that analyzes consumers' digital behavior to fight fraud used to raise a $7 million Series AAI-powered tools to spot phony online reviews Saoud Khalifah, founder and CEO of Fakespot.FakespotMarketplaces like Amazon and eBay host millions of third-party sellers, and their algorithms will often boost items in search based on consumer sentiment, which is largely based on reviews. But many third-party sellers use fake reviews often bought from click farms to boost their items, some of which are counterfeit or misrepresented to consumers.That's where Fakespot comes in. With its Chrome extension, it warns users of sellers using potentially fake reviews to boost sales and can identify fraudulent sellers. Fakespot is currently compatible with Amazon, BestBuy, eBay, Sephora, Steam, and Walmart."There are promotional reviews written by humans and bot-generated reviews written by robots or review farms," Fakespot founder and CEO Saoud Khalifah told Insider. "Our AI system has been built to detect both categories with very high accuracy."Fakespot's AI learns via reviews data available on marketplace websites, and uses natural-language processing to identify if reviews are genuine. Fakespot also looks at things like whether the number of positive reviews are plausible given how long a seller has been active.Fakespot, a startup that helps shoppers detect robot-generated reviews and phony sellers on Amazon and Shopify, used this pitch deck to nab a $4 million Series ANew twists on digital bankingZach Bruhnke, cofounder and CEO of HMBradleyHMBradleyConsumers are getting used to the idea of branch-less banking, a trend that startup digital-only banks like Chime, N26, and Varo have benefited from. The majority of these fintechs target those who are underbanked, and rely on usage of their debit cards to make money off interchange. But fellow startup HMBradley has a different business model. "Our thesis going in was that we don't swipe our debit cards all that often, and we don't think the customer base that we're focusing on does either," Zach Bruhnke, cofounder and CEO of HMBradley, told Insider. "A lot of our customer base uses credit cards on a daily basis."Instead, the startup is aiming to build clientele with stable deposits. As a result, the bank is offering interest-rate tiers depending on how much a customer saves of their direct deposit.Notably, the rate tiers are dependent on the percentage of savings, not the net amount. "We'll pay you more when you save more of what comes in," Bruhnke said. "We didn't want to segment customers by how much money they had. So it was always going to be about a percentage of income. That was really important to us."Check out the 14-page pitch deck fintech HMBradley, a neobank offering interest rates as high as 3%, used to raise an $18.25 million Series ARead the original article on Business Insider.....»»

Category: topSource: businessinsiderDec 10th, 2021