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ARway.ai secures four new deals as company sees strong growth to close out 2023

ARway

ARway.ai CEO Even Gappelberg joined Steve Darling from Proactive regarding the company's recent developments and new SaaS subscription deals. ARway.ai has announced four new developer SaaS subscription deals that include monthly recurring revenue. Gappelberg explained that the company expects approximately 50% of these new subscribers to transition to ARway's partner program, which comes at a cost of $10,000. From there, subscribers may move on to a $100,000+ program based on their usage and the square footage of the space they are utilizing. These deals represent a significant milestone for ARway.ai, as they demonstrate the growing demand for the company's advanced augmented reality (AR) solutions. The new subscribers are spread across various countries, including the United States, Belgium, Italy, and India, underscoring the global appeal of ARway's technology. In 2023, ARway.ai has already achieved notable accomplishments, including over 3,500 user accounts signed up for its platform, a total of over 4,000 maps created, and more than 45 pilots and trials underway. These achievements position the company for significant revenue growth potential as it continues to expand its presence and deliver innovative AR solutions to a diverse range of industries and markets. Contact Details Proactive Investors Canada +1 604-688-8158 na-editorial@proactiveinvestors.com

November 16, 2023 11:46 AM Eastern Standard Time

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PathAI Announces AISight Support of DICOM Standards and Commits to Being a Leader in Integrated Enterprise Image Architecture and Strategy

PathAI

PathAI, a leading technology company which combines AI-powered pathology solutions with end-to-end central pathology and histology services, today announced that AISight™ [1] supports rendering DICOM® Visible Light (VL) Whole Slide Microscopy Image files. AISight is a state-of-the-art, interoperable, intelligent case and image management system to assist pathologists in the review of digitized whole slide images (WSIs) with a comprehensive menu of fully embedded AI solutions. The incorporation of modern digital pathology into the DICOM standard was finalized in 2010, allowing organizations to integrate digital pathology into their existing IT systems, providing vendor flexibility, and enabling integrated storage with other imaging modalities (e.g., radiology) in vendor neutral archives (VNAs). DICOM support is a major advancement towards enabling PathAI’s vision of interoperable pathology systems that fit seamlessly into providers current or future enterprise image architecture and strategy. “We’ve been collaborating with many large academic medical centers and health systems over the last year to provide consultative support on digitalization of pathology workflows. In these discussions, one thing is clear. Chief information officers (CIOs) and enterprise imaging architects are pushing for vendors to adopt DICOM to drive imaging interoperability,” said Don O’Neill, SVP of Engineering and IT at PathAI. “PathAI is committed to doing just that and being able to render DICOM image files is the first step in that direction.” As part of its investment into DICOM, PathAI is making a commitment to interoperability and providing solutions that integrate with organizations’ enterprise image management and archive strategy, including through VNAs. PathAI will also launch its DICOMweb API in its next release, which will enable AISight to receive DICOM images from external applications, push images back to VNAs leveraging customer’s DICOMweb API, utilize the DICOM file to supplement or validate image/case data, and enable prefetch to pull historical cases/studies directly from image archives. “By investing into interoperability with enterprise image archives, we’re demonstrating to our customers that we are strategically positioned to provide long term value. No matter where a customer is in the imaging journey, we can help them,” said Andy Beck, MD, PhD, co-founder and chief executive officer of PathAI. To learn more about this integration, visit www.PathAI.com or meet with our team at upcoming conferences including Digital Pathology & AI Congress Europe, London (Booth #30, December 7-8). 1- AISight is for Research Use Only. Not for use in diagnostic procedures. About PathAI PathAI is the only AI-focused technology company to provide comprehensive precision pathology solutions from wet lab services to algorithm deployment for clinical trials and diagnostic use. Rigorously trained and validated with data from more than 15 million annotations, its AI-powered models can be leveraged to optimize the analysis of tissue samples to improve efficiency and accuracy of pathology interpretation, as well as to better gauge therapeutic efficacy and accelerate drug development for complex diseases. PathAI, which is headquartered in Boston, MA, and operates a CAP/CLIA-certified laboratory in Memphis, TN, is proud to be a rapidly expanding organization of innovative thinkers from around the globe. For more information, please visit www.pathai.com. Contact Details SVM Public Relations and Marketing Communications Maggie Naples +1 401-490-9700 pathai@svmpr.com Company Website https://www.pathai.com/

November 16, 2023 10:00 AM Eastern Standard Time

Beyond Recycling: Aqua Metals Leads The Charge In Building Circular Domestic Supply Chain of Critical Minerals for Lithium Batteries

Benzinga

By Faith Ashmore, Benzinga As the world ushers in a new era of sustainability and electrification, the ability to recycle the critical minerals that will power our devices, our vehicles and our economy is fundamental to achieving the most ambitious global clean energy goals. In this fast-approaching future, developing truly sustainable recycling stands out as a crucial component of building a circular economy for the critical minerals necessary for manufacturing solar panels, wind turbines, and especially lithium-ion batteries. Companies like Aqua Metals Inc. (NASDAQ: AQMS) are at the forefront of this transition, redefining the recycling landscape with innovative technologies that are delivering a clear path to net-zero battery recycling. Understanding Clean Recycling Sustainable recycling is the process of converting end-of-life products and materials into new resources that can be fed right back into the supply chain, without creating a new environmental hazard due to harmful emissions or significant waste. Today, most lithium battery recycling uses fossil fuel-powered furnaces and/or intensive chemical processes that produce significant carbon emissions and generate untenable waste streams that end up in landfills (or worse, dumped in the ocean). Just because something is labeled as recycling doesn’t mean that it is inherently clean or sustainable – how we recycle matters. With the mounting dependency on battery technology and the need to recycle millions of tons of lithium-ion batteries in the coming years, adopting environmentally sound recycling methods is essential to support the deployment of clean energy technologies and combat climate change. Aqua Metals' Mission And Technology Aqua Metals is pioneering the path toward environmentally responsible recycling with its commitment to clean recycling practices. Utilizing its proprietary AquaRefining™ technology, the company leverages the power of electricity to extract valuable metals from spent lithium and EV batteries. This innovative and patented process, which circumvents the need for thermal processing or trainloads of consumable chemicals, drastically cuts down on both waste and emissions. The crux of their mission is to turn the tide on traditional, environmentally burdensome recycling methods by offering a solution that is not only cleaner but also cost-effective and able to produce battery-grade recycled materials from spent batteries. With this approach, Aqua Metals is hoping to set a new benchmark for sustainability within the clean metals recycling industry – and build a circular domestic supply chain for critical battery minerals. The AquaRefining Process At the core of Aqua Metals' innovation is the AquaRefining process, a sophisticated system that transforms lithium battery ‘ black mass ’ – the industry term for the composite of shredded battery metals and manufacturing scraps ready to be recycled – into high-purity, reclaimed materials ready to be delivered back into the supply chain. Initiating by dissolving this black mass in a specialized solution of water and diluted acid, the process is meticulously automated to yield uniform and predictable outcomes across varying batches of black mass from various sources. The dissolved material then flows through a number of finely tuned stages, from various filters to remove impurities to a number of specific unit operations to capture individual metals found in lithium batteries (including lithium, cobalt, nickel, copper, and manganese). The main differentiator – and what enables the patented recycling process to boast such an environmental and economic advantage – is replacing the polluting furnaces and intensive chemical processes used today with clean electricity. Instead of using heat or chemical reactions to extract the valuable materials, Aqua Metals uses an innovative application of electroplating – quite literally pulling the dissolved metals out of the solution atom-by-atom and attaching them to an electrode for recovery of high-purity materials. The other hallmark of this groundbreaking process is its regenerative approach, where electricity is also employed to replenish the proprietary solution the company uses to dissolve the materials – thereby enhancing economic viability and lowering chemical usage on site by more than 95% compared to competing recycling technologies. These distinctive advantages underscore Aqua Metals' commitment to a sustainable and economically sound recycling methodology that enables a truly circular supply chain – without all the chemical waste and climate pollution of today’s leading recycling processes. Economic And Environmental Impact The economic benefits of Aqua Metals' approach are clear. Aqua Metals' AquaRefining technology delivers advantages through the production of high-purity metals from spent batteries using clean electricity. Replacing furnaces and significant chemical and waste storage facilities in traditional recycling could lower necessary capital costs by as much as half for a new recycling facility. And managing on-site storage for trainloads of chemicals each week, producing and disposing of equal amounts of chemical byproducts, and powering energy-intensive furnaces create much higher and less predictable operating costs. Environmentally, Aqua Metals reports that AquaRefining reduces carbon emissions by more than 83% compared to hydrometallurgy competitors. While traditional methods emit tons of CO2 and generate more sodium sulfate waste than valuable materials recovered, AquaRefining’s emissions are as clean as the electricity the company is able to source, with exceptionally high recovery rates and no waste byproducts sent to a landfill. This approach not only minimizes the environmental footprint but also bolsters the United States' efforts to establish a sustainable loop for lithium and other critical battery minerals. Strategic Partnerships For A Circular Economy Through strategic partnerships with companies like 6K Energy, Aqua Metals is poised to create the first sustainable circular domestic supply chain for critical minerals, creating a continuous loop of recycled materials feeding back into the lithium battery manufacturing supply chain. This venture will see the co-location of recycling and cathode manufacturing facilities, leading to the first production of low-carbon cathode active materials from recycled battery elements in the industry. Advancements In Battery Manufacturing Aqua Metals has also collaborated with Dragonfly Energy Holdings Corp (NASDAQ: DLFI) to supply the manufacture of lithium-based battery cells using high-purity lithium hydroxide recovered through their recycling process. This marks a stride toward a more sustainable lithium battery manufacturing industry, potentially setting the stage for a closed lithium loop within the state of Nevada. Critical Minerals And National Interests In the wake of the Inflation Reduction Act (IRA), Aqua Metals is emerging as a key player in realizing the U.S.'s ambition for a clean, electrified economy. The company's AquaRefining™ technology revolutionizes the recycling of lithium-ion batteries, offering a net-zero emissions pathway that aligns with the IRA's emphasis on sustainable practices and building domestic capacities to produce critical minerals. Critical mineral security is not just an economic opportunity for the country but also a national security necessity as these refined metals become more central to our economy. The company’s innovative approach tackles the challenges of critical mineral scarcity and environmental degradation, ensuring a more sustainable and circular approach to battery recycling, which is crucial for the burgeoning EV sector. Aqua Metals is pushing to become a leader in sustainable lithium battery recycling, offering innovative solutions to the waste and emissions challenges inherent in current recycling. With its advanced technology and strategic initiatives, Aqua Metals is not just recycling materials but possibly reshaping the very fabric of the industry for a sustainable future. This post contains sponsored content. This content is for informational purposes only and not intended to be investing advice. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

November 16, 2023 09:00 AM Eastern Standard Time

Q3 2023 Proportionate Royalty Revenue Jumps To $1.9M For Altius Renewable Royalties And ARR Secures A $247M Credit Facility

Benzinga

By Faith Ashmore, Benzinga Altius Minerals (OTCQX: ATUSF) (TSX: ALS) has strategically positioned itself within the mining sector by developing an environmentally friendly royalty portfolio, showcasing its commitment to sustainable practices. While the mining industry has faced criticism for its detrimental environmental impact, Altius aims to address these concerns by focusing on minerals that are vital to modern infrastructure while minimizing exposure to environmentally harmful commodities. In addition to its core holdings, Altius owns 58% of Altius Renewable Royalties (OTCQX: ATRWF) (TSX: ARR) which provides royalty financing to the U.S. renewable energy sector. ARR last week announced its Q3 2023 proportionate royalty revenue of $1.9 million, excluding interest income. This revenue represented an increase from $1.6 million recorded in Q3 2022 and $1.0 million last quarter, indicating ARR's growth trajectory. The Q3 2023 royalty revenue reflects ARR's 50% ownership interest in Great Bay Renewables (GBR), which the company reports is rapidly building a customer base with U.S. renewable energy counterparties. The revenue generated by ARR through its ownership stake in GBR highlights the performance of the partnership. ARR also just recently announced that GBR has secured senior secured credit financing agreements totaling $247 million. The financing consists of an initial term facility (ITF) worth $123.5 million, a delayed draw term facility (Delayed Draw Facility) worth $100 million, and a letter of credit facility (L/C) worth $23 million. Both term facilities meet the requirements for green loan eligibility. Great Bay is managed jointly by ARR and funds managed by Apollo Global Management, Inc. Commenting on the quarter and the credit facility, Frank Getman, CEO of GBR, shared, “With the recent closing of our new debt facility, we have demonstrated the underlying strength of our current asset portfolio in the eyes of sophisticated global lenders and have positioned ourselves to continue to seize upon our strong pipeline of growth opportunities. In a few short years, we have scaled up a portfolio of renewable royalties on over 2.3 GW of operating projects and a pipeline of development stage royalties of over 15 GW, providing an embedded stream of future cash-flowing royalties that ensures strong revenue growth for GBR through the remainder of the decade." This financial milestone seems to reinforce ARR's position as a key player in the industry, demonstrating an ability to continue to deploy capital in new, accretive investments without having to return to the equity market. With a track record of revenue growth, ARR seems to prove its commitment to driving innovation and contributing to the sustainable development of the renewable energy sector. As the global shift towards clean and sustainable energy continues, ARR's strategic positioning within the industry could help it capitalize on this growing market opportunity. This post contains sponsored content. This content is for informational purposes only and is not intended to be investing advice. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

November 16, 2023 09:00 AM Eastern Standard Time

Panasonic Enhances TOUGHBOOK® 55 Laptop: Faster, More Versatile, and Ready for Any Challenge

Panasonic Mobility

Panasonic Connect North America, Division of Panasonic Corporation of North America, today announced enhancements to the TOUGHBOOK® 55 laptop, its award-winning semi-rugged laptop. Based on direct feedback from valued customers, the latest TOUGHBOOK 55 offers faster performance, more versatility, and comprehensive support and service offerings anywhere the job takes them. The third generation of the TOUGHBOOK 55, the Mk3, harnesses the power of the 13 th Gen Intel® Core TM i5 and i7 Processor with Intel vPro ® Technology and up to 14 cores. It also features a secondary NVMe OPAL SSD, delivering high bandwidth and low latency, which is especially useful for contractors handling complex blueprints or automotive technicians performing intricate vehicle diagnostics and maintenance. Wi-Fi 6E and Bluetooth 5.3 further enhance connection speeds and options so workers can retrieve, analyze, and transmit data in real time. This can be especially useful for utility professionals conducting on-site inspections, managing infrastructure, or responding to emergencies. The latest version boasts 92dB speakers that include dual array microphones for those operating in loud environments, and now harnesses artificial intelligence to reduce background noise pickup. For police officers, the superior audio capabilities help improve speech recognition accuracy during critical interactions in a squad car or on the scene of a crime. A new interface to the programmable keys provides a more intuitive experience for assigning shortcuts to applications and common actions. The customizable color-selectable keyboard offers four preset options and the ability to create custom colors, further tailoring the experience to the mobile worker’s preferences. “Continuing to enhance our end-to-end solution offerings exemplifies Panasonic’s unwavering commitment to empowering mobile workers who operate in the most challenging conditions,” says Dominick Passanante, Vice President, Mobility Business, Panasonic Connect North America. “Designed with direct input and insights from our customers, the TOUGHBOOK 55 doesn’t just meet expectations. It redefines what mission-critical tools should be and elevates the customer experience now and into the future.” Mission critical workers now have access to an expanded array of user-upgradeable expansion areas (xPAKs) with a new USB-C and USB-A xPAK available this February, which brings the total number of USB ports on the TOUGHBOOK 55 Mk3 to five. This convenient addition empowers mobile workers to connect multiple accessories, such as external keyboards, without cumbersome adapters. The enhanced contactless smartcard reader xPAK adds support of more contactless cards in order to meet professionals’ ever-evolving security and identification needs, particularly in law enforcement, simplifying authentication procedures. Updated TOUGHBOOK 55 mk3 Key Features and Highlights: Available 14’’ FHD 1,000 nit touchscreen Seven modular user-replaceable areas 13th Gen Intel Core i5 & i7 processors with up to 14 cores 512GB-2TB NVMe main storage (quick-release and user-upgradeable) 16-64GB DDR4 RAM (user-upgradeable) Available Intel ® Iris ® Xe Graphics USB-A and USB-C ports including Thunderbolt™ 4 port supporting 40Gbps data transfer speeds, power delivery, and daisy chaining Wi-Fi 6E and Bluetooth 5.3 Infrared webcam with privacy cover Dual-array microphones with AI noise reduction 92dB loud speakers with MaxxAudio 10 hours of battery life or 20 hours with optional second battery (MobileMark25) Rugged certifications include 3’ drop rating, MIL-STD-810H, and IP53* Securing and deploying new technology can be challenging for organizations due to limited IT resources, tight budgets, and a shortage of staff to manage hardware and software. Now, with TOUGHBOOK as a Service (TaaS) Program, Panasonic offers a subscription model to customers and provides a budget-friendly OPEX solution to help organizations stay current with the latest technology. To help customers easily set up and maintain solutions, Panasonic offers staff augmentation and last-mile deployment services that alleviate burdens by providing on-site deployment assistance, TOUGHBOOK product engineering expertise, and customized solutions to meet specific customer needs. These services are entirely customizable and flexible, catering to organizations at various stages of their technology journey. The TOUGHBOOK 55 Mk3 i7 is available for purchase now, and the i5 will be available for purchase in February 2024. For complete product details and to learn more about the lineup of accessories, please visit our website. * Tested by an independent third party lab Follow the TOUGHBOOK Brand The Panasonic TOUGHBOOK family of laptops, 2-in-1's, tablets, and handhelds can be followed on various social media channels including LinkedIn, YouTube, Instagram, Facebook, X, and our blog, Rugged Mobility for Business. About Panasonic Connect North America Established on April 1, 2022 as part of the Panasonic Group’s switch to an operating company system, Panasonic Connect North America is a B2B company offering device hardware, software and professional services to provide value to customers across the public sector, federal government, education, immersive entertainment, food services and manufacturing industries. With the mission to “Change Work, Advance Society, Connect to Tomorrow,” Panasonic Connect North America works closely with its community of partners, innovators and integrators to provide the right technologies to address customers’ ever-evolving needs in today’s connected enterprise. Contact Details Kathryn McTyre panasonicmobility@racepointglobal.com Company Website https://na.panasonic.com/us/panasonic-connect

November 16, 2023 08:00 AM Eastern Standard Time

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Sun Miner Unveils Innovative Financial Technology Ecosystem and Seamless Cloud Mining Platform for Global Users

King Newswire

( King NewsWire ) - Sun Miner, a cloud mining platform, has established a robust financial technology service ecosystem. Sun Miner enables both institutional customers and digital asset enthusiasts to efficiently participate in cloud mining, ensuring a stable income. Sun Miner has offered a range of stable and intelligent computing power service solutions globally. The company has modified the access to cloud mining, utilizing state-of-the-art technology and large-scale industrial data centers, making it accessible from any device, anywhere. The company has eliminated the hassle of equipment procurement, transportation, hosting, and maintenance, providing customers – whether novices or experts in cryptocurrency mining – the freedom to focus on building their cryptocurrency portfolios. The company is dedicated to continuous innovation, with additional product solutions and services currently in development. Sun Miner's business model encompasses cloud mining, mining machine hosting, and self-mining, positioning the company to navigate market fluctuations and promote vertical integration within the global digital asset mining industry. Sun Miner has introduced a seamless and user-friendly cloud mining solution, allowing users to explore cryptocurrency mining effortlessly, whether targeting Bitcoin or Ethereum. Sun Miner offers an opportunity to participate in crypto mining without the complexities of equipment procurement. Sun Miner aims to optimize mining operations through advanced technology, ensuring stability, cost-effectiveness, and lucrative returns. The referral program empowers users to achieve a lifetime commission of up to 3%, fostering the creation of thriving businesses. Unlimited referrals amplify users earning potential to limitless heights. For more information about Sun Miner and its services, please visit their website www.sunminer.com About Sun Miner: Sun Miner is a cloud mining company that provides accessible and innovative cloud mining solutions. t has empowered users worldwide to effortlessly participate in the cryptocurrency revolution. With cutting-edge technology, a robust financial technology service ecosystem, and a commitment to security and transparency, Sun Miner is shaping the future of digital asset mining. SunMiner The app can be downloaded by typing "SunMiner" in the Google Play Store or Apple Store. Contact Details SunMiner Alice info@sunminer.com Company Website https://www.sunminer.com

November 16, 2023 07:47 AM Eastern Standard Time

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Layer-Fi Introduces the Super Node Cloud Mining Plan, Pioneering Innovation and Sustainability in Cryptocurrency

King Newswire

In the ever-evolving world of cryptocurrencies, change is the only constant. Innovation and sustainability have become the dominant trends shaping the industry's future. At the forefront of this transformative wave is Layer-Fi, introducing the Super Node Cloud Mining Plan, designed to meet the demands of the future digital economy. Furthermore, Layer-Fi fully embraces the modern trend of Real World Asset (RWA) tokenization. Through the Super Node Cloud Mining Plan, participants can hold Layer-Fi's mining resources, actively engaging in the generation of mainstream digital coins. This groundbreaking economic model provides strong momentum for ecosystem development and community growth. In recent years, the cryptocurrency market has faced periods of stagnation. Nonetheless, Bitcoin remains the most trusted and the only fully decentralized native currency. In an exciting development, the U.S. Securities and Exchange Commission (SEC) is actively exploring the possibility of a Bitcoin Spot ETF trading fund. Global economists widely believe that if the SEC approves this initiative, it will act as a catalyst for the next bull market in the crypto sphere. For Bitcoin holders, this represents a remarkable opportunity. Early participants in Layer-Fi can take advantage of a range of lucrative policies, positioning themselves for substantial potential gains in the digital mining industry. The cryptocurrency market may be unpredictable, but it is rife with opportunities. At Layer-Fi, we firmly believe that the journey into the world of digital mining begins here. We invite you to join us and embrace the boundless opportunities that lie ahead in the digital mining industry. For more information Visit https://layerfi.org About Layer-Fi: Layer-Fi is a leading innovator in the cryptocurrency industry, dedicated to combining innovation and sustainability. The company's Super Node Cloud Mining Plan is a testament to their commitment to reshaping the digital economy through cutting-edge technology and renewable energy solutions. website: https://layerfi.org Contact Details Mr.Layer LayerFi Layerfinance@gmail.com Company Website https://layerfi.org

November 16, 2023 07:41 AM Eastern Standard Time

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Half of European fintech unlikely to reach profitability with $550m of VC money at risk, finds credit fund WinYield

WinYield

European fintech lending startups have racked up over €11B in debt facilities in 2023 to help them lend to consumers and businesses. However, cracks in their credit models and approach are starting to appear. Based on findings from 95 in-depth interviews and due diligence of 27 fintechs, credit fund WinYield has today exposed some serious challenges on the horizon for the industry. WinYield found that fintech lenders lack the necessary credit experience: less than 10% of the fintechs interviewed had staff with previous relevant credit experience. Common underwriting models were composed of a black box using basic regression analysis with no human overlay to assess the actual viability of loans. WinYield found in many cases that delayed payments were running up to 10% of the entire fintech lenders portfolio, this is four times higher than in bank SME portfolios. While the $12B in debt facilities is largely composed of senior debt, it's the €514m ($550m) venture capital that is at risk of disappearing which has first-loss exposure. Having analysed the various operating models, the report finds many fintech lenders are running an uneconomical business. It was clear that most will never become profitable. This was largely because marketing and operational costs were significantly underestimated while the market opportunity was dramatically overhyped. Fabricio Mercier, founder of WinYield, commented: “Ecommerce, for example, was a €596bn sales market according to Statista in 2022. It sounds like a huge number. But because there’s a 30-day sales cycle, fintech lenders in ecommerce have to lend 12 times a year to keep the same amount of lending on their books. In addition to this, the vast majority of ecommerce companies are either operating abroad, or have very limited trading history. Factoring this in, the opportunity plummets to somewhere between €1.5 to €2.5bn. That’s more than 200x smaller!” Many European fintech lenders are opting for the multi-product approach and aggressive marketing budgets favoured in the US. But this does not work in a fragmented European market where the break-even portfolio size is much too high. “The US market is a single market with its own regulation. Europe, on the other hand, has 27 different markets with 27 different combinations of rules, laws and languages. It is therefore incredibly difficult for a single fintech to compete across all 27 jurisdictions of the European market. Europeans also find very limited synergies when adding a second product because doing so would require an entirely new client journey, operations, and funding facilities. Another way to think of this is to look at the number of full-time employees per million of assets under management. Single product, uni jurisdiction fintech can go as low as 2 FTEs per million even in the case of a small portfolio vs 12 for a multi-product/multi jurisdiction.” added Fabricio Mercier. Reaching profitability will be a challenge for most European fintech lenders. Those that do become profitable will likely need to pivot several times and ultimately partner with a bank. Indeed, European banks are getting more competitive, using partners like Thought Machine and others to plug their APIs to fintechs directly. Based on the numbers WinYield gathered, with a single product and one jurisdiction, the asset under management (“AUM”) level for which a lending fintech would break even can be as high as €150m for a SaaS lender, €35m for an embedded lender and €160m for a credit card lender. Reaching these levels may be challenging in many European countries. Fabricio Mercier, CEO of WinYield commented: "The VC funding drought has actually helped clean a lot of the malpractice in fintech lending, bringing European fintechs to their senses with a degree of discipline and rationality returning to their decision making. Now we are entering into the phase of Fintech 3.0, with more experienced founders doing more with less. Although there's still a lot of learning to be done, the fintech sector is reshaping for a better future. By getting serious and institutionalised, fintech will grow again, partnering with credit funds and banks." Off the back of the report, WinYield offers the following considerations that fintech founders could act on to achieve sustainable growth: Start with a small team of no more than 5 people, build a product that works well, and then start looking at scaling the business Find a funding partner who understands the intricacies of your operations and the fintech lending ecosystem and seek the highest LTV possible Find a niche market where high cost of money solves a problem that is not related to high credit risk. For investors, WinYield recommends: Don’t trust black box underwriting – you are the credit expert. Favour fintechs that are growing steadily by focusing more on their product and risk proposition as opposed to following a VC agenda. Partner with small funds or high quality advisors to reduce your workload as transactions tend to be smaller than expected. Despite the challenges faced by fintech today, the outlook is not all doom and gloom. Fabricio Mercier, CEO of WinYield noted, "Our latest industry report reflects that the ample liquidity provided by VCs fostered bad habits among fintech lenders. It’s become clear that the bull market of 2020 was creating an irrational bubble in fintech lending. While there are still many bad apples, we believe that the shortage of venture capital may bring European fintechs to their senses with a degree of discipline and rationality returning to their decision making. However, a lot of education is needed to have a healthy market.” About WinYield WinYield is a specialised fintech credit fund founded in 2022 with a focus on providing first-loss financing for fintech and investment solutions for early-stage fintech companies. WinYield is tackling the challenge of venture capital funding scarcity for lending fintechs, particularly in segments such as early-stage fintechs. WinYield leverages expertise in identifying risk earlier with real-time, big data analysis and by partnering with the originator in the underwriting. For more information please visit: https://www.winyield.co/ Contact Details WinYield Bilal Mahmood +44 7714 007257 b.mahmood@stockwoodstrategy.com Company Website https://www.winyield.co/

November 16, 2023 07:00 AM Eastern Standard Time

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WHAT’S HOT THIS HOLIDAY – BLACK FRIDAY & CYBER MONDAY DEALS

News Media Group, Inc.

Contact Details Karl Wayne +1 334-440-6397 karl@newsmg.com Company Website https://newsmg.com/

November 16, 2023 07:00 AM Eastern Standard Time

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