Invoia Re-Brands, Focuses on Small Businesses With Recurring Revenue

prnewswire | March 11, 2020

Invoia™ mobile web payment application for small businesses that have recurring, installment, and subscription revenue has re-branded to meet customer demands and keep pace with growth. Formerly Tbbbout Paylater, Invoia's new name symbolizes a shift in focus solely to small businesses with a need for simple, affordable invoicing that embraces how customers – and companies – want to do transactions today: on their mobile phones and other mobile devices. Over the course of 2019 and since our launch early last year, we saw a big uptake for our service by those small businesses that just want to get paid without hassle," says Invoia CEO Jason Polancich.

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Starting with the R77.20.51 firmware released in February of 2017 you can enable Threat Emulation to detect unknown zero-day threats contained in files using our sandboxing technology. Watch our video to find out how to trial Threat Emulation on the 700 Small Business Security Appliance.


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TECHNOLOGY

SparkCognition's Award-Winning Cybersecurity Solution Providing Zero-Day Protection Now Available in Lenovo's Small Business Store

SparkCognition | February 02, 2022

SparkCognition, a global leader in artificial intelligence (AI) software solutions for business, announced its award-winning AI endpoint protection product (EPP) solution, DeepArmor, is now available in the LenovoPRO Small Business Store. "We are proud to work with Lenovo to bring our AI-enabled cyber solution to a broader range of small business users, helping them to detect and prevent even the most sophisticated zero-day cyber threats," said Vijay Doradla, President at SparkCognition. "The Deep Armor technology, based on advanced machine learning models, can help prevent never before seen cyberattacks, even while working offline, requiring less than four megabytes of space for deployment." A new cyberattack occurs every 39 seconds, putting businesses at risk of being compromised, shut down, and ransomed. SparkCognition developed DeepArmor as the first line of defense to prevent cyber threats at the edge. Built on proven AI and machine learning (ML) models, rather than rules, heuristics, and specific signatures, DeepArmor helps to prevent malware from accessing sensitive data, taking operational control, and compromising asset integrity, blocking known and new ransomware, trojans, and viruses. Its endpoint protection works both online and off, and installs and activates within minutes, without needing IT support or security skills. "Two in five small to mid-sized businesses were impacted by ransomware in 2020, with 43% lacking any type of cybersecurity defense. Extending our AI expertise and trusted and tested cyber solutions to Lenovo's small business customers is just one way we're able to work together to serve businesses in further protecting their endpoints." Marc Davis, Senior Director of Business Development at SparkCognition Lenovo is a leading OEM in cybersecurity that takes a secure-by-design approach to embed security features throughout the entire lifecycle across device components, ranging from hardware and below-the-operating-system, all the way to the cloud layers. By working with software providers like SparkCognition, Lenovo is able to offer its customers more solutions to further protect their data privacy, intellectual property, strategic investments, and customers. About SparkCognition SparkCognition's award-winning AI solutions allow organizations to predict future outcomes, optimize processes, and prevent cyberattacks. We partner with the world's industry leaders to analyze, optimize, and learn from data, augment human intelligence, drive profitable growth, and achieve operational excellence. Our patented AI, machine learning, and natural language technologies lead the industry in innovation and accelerate digital transformation. Our solutions allow organizations to solve critical challenges—prevent unexpected downtime, maximize asset performance, optimize prices, and ensure worker safety while avoiding zero-day cyberattacks on essential IT and OT infrastructure.

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MANAGEMENT

Novo Launches Boost for Faster E-Commerce Payments; Hires Kevin Phillips as EVP of Lending

Novo | May 23, 2022

Novo, the powerfully simple financial platform for small businesses, announced that the company has brought on Kevin Phillips, former CFO at small business lending company Kabbage, to launch and scale Novo’s lending business. Today, Novo is also launching Boost, making it the only financial platform that gives small businesses and freelancers same day access to payments received through e-commerce platforms.Introducing Novo Boost “While some fintech companies and banks claim to offer instant payouts, we saw that the market is filled with solutions that come with significant fees, or serve well-established corporations instead of the millions of small business owners and freelancers that would benefit most from faster payments, Novo Boost is free, and will be available to all Novo customers that process payments via Stripe — from the growing e-commerce store that employs 10 people to the freelance photographer who uses Stripe for her invoicing.” -Michael Rangel, CEO and co-founder of Novo. Small businesses often struggle to manage their cash flow because of a lack of credit, late customer payments or high fee banking services tailored towards enterprises. The technology behind Boost releases funds into a user’s Novo account shortly after a transaction is approved by the payment processor, as opposed to waiting as long as five days for the funds to be accessible. To take advantage of Boost, small businesses can create a free checking account at novo.co, and once approved, integrate with Stripe from within the Novo website or mobile apps. Novo can approve accounts within two days, and customers can set up the Novo integration with Stripe immediately. Novo plans on launching Boost on additional platforms over the next year. To learn more, visit www.novo.co/pd/lp-1. Announcing Kevin Phillips As Novo looks at its next stage of growth, we’re taking the small-business-centric principles that we used to design our award-winning checking account, and creating a financial platform that brings incredible functionality and user friendliness to all aspects of small business finance,” said Rangel. “That’s why we’re thrilled to bring on Kevin Phillips, a true pioneer in the small business lending space who developed one of the world’s most successful lending platforms from the ground up. As EVP of Lending at Novo, Kevin will create lending products that truly put small businesses first. Phillips is a world-renowned senior executive with a record of building high-growth start-ups as well as leading large, complex organizations. In 2011, Phillips was one of the first executives to join the Kabbage team, and over a decade built the company into one of the world’s most successful small business lending platforms. During his tenure at Kabbage, Phillips held multiple leadership positions, including CTO, CFO, and Head of Corporate Development. Prior to Kabbage, Phillips held C-level roles at a number of fast-growing technology startups, including CEO of Support Center Technologies and ZapMedia, COO and CFO at Scientific Intake, and CIO at S1. Phillips received his MBA from Georgia State University. “Virtually every small business fintech company markets themselves as being ‘great’ for their customers, but very few are successful in building out products and services that stay true to their mission,” commented Phillips. “Novo is one of the rare exceptions. The company already has a history of finding innovative, business-friendly ways to improve cash flow, and I look forward to expanding these cashflow-improving efforts in the coming years.” Phillips joins Novo at a time of significant growth for the company. Novo has surpassed $8 billion in lifetime small business transactions. Over the last year, Novo has also raised more than $130 million from leading fintech investors like Stripes Group and Valar Ventures, and added more than 100,000 new small business customers. About Novo Novo Platform, Inc. (“Novo”) is the powerfully simple checking account and financial technology platform built for small businesses. To learn more, visit www.novo.co. Novo Boost and early availability of funds are governed by the program terms and conditions outlined here. Middlesex Federal Savings, F.A. is a federal savings bank and an FDIC-insured depository institution (FDIC Certificate 28368). Deposits made at Middlesex Federal Savings, F.A. through the Novo platform receive FDIC insurance protection on a pass-through basis up to the applicable legal limit. When determining the amount of your deposits covered by FDIC insurance, please note all deposits you make through the Novo platform will be aggregated with all deposit accounts of the same ownership and/or vesting held at Middlesex Federal Savings, F.A. and Middlesex Federal Savings, F.A. brands. Additional information regarding FDIC insurance coverage is available at www.fdic.gov.

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BUSINESS STRATEGY

Vejii Announces Definitive Purchase Agreement to Acquire VEDGEco USA Inc., a leading online B2B wholesale platform for plant-based products

Vejii Holdings Inc. | December 24, 2021

Vejii Holdings Ltd. ("Vejii" or the "Company"), a North American online marketplace for plant-based and sustainable products, is pleased to announce that it has entered into a share purchase agreement (the "Purchase Agreement") to acquire VEDGEco USA Inc. ("VEDGEco"), a leading online business-to-business ("B2B") wholesale platform for plant-based products. "VEDGEco launched as one of the first online wholesale platforms dedicated to providing restaurants and independent grocers with a large selection of high-quality plant-based options. This meant that small business owners could at last gain access to a large selection of plant-based products and ingredients without the requirements that typical larger national distributors have in place, such as large minimum order sizes." Kory Zelickson, CEO of Vejii Pursuant to the terms of the Purchase Agreement, the Company will acquire 100% of the issued and outstanding shares (the "Purchased Shares") of VEDGEco (the "Transaction") from the shareholders of VEDGEco (the "Vendors"). The total purchase price for the Purchased Shares will be US$6,250,000, payable as follows: (a) on the date of the closing of the Transaction (the "Closing"), the Company will issue such number of common shares of the Company (each, a "Common Share") with a deemed value of $3,500,000 (the "Consideration Shares") to the Vendors, as determined based on a price per Consideration Share of the greater of (i) C$0.35 per Consideration Share and (ii) the closing price of the Common Shares on the Canadian Securities Exchange on the date immediately preceding the announcement by the Company of the Transaction, converted into United States dollars at the Bank of Canada exchange rate on such date; and (b) earn-out payments up to a maximum of US$2,750,000, payable in Common Shares (the "Earn-Out Shares"), priced in the context of the market, to be issued to the Vendors upon VEDGEco meeting certain milestones as more particularly set out in the Purchase Agreement. The Consideration Shares and the Earn-Out Shares issued under the Purchase Agreement are subject to a statutory hold period of four months and one day, restrictions on transfer under applicable United States ("U.S.") securities laws and a contractual lock-up as set out in the Purchase Agreement (the "Voluntary Lock Up"). Subject to compliance with applicable securities laws, 12.5% of the Consideration Shares and the Earn-Out Shares will be released from the Voluntary Lock Up on a quarterly basis for a period of 24 months from the date of issuance. VEDGEco's key personnel are expected to continue to run the operations of VEDGEco following closing of the Transaction. The Transaction is expected to close on or around December 31, 2021. Closing of the Transaction is subject to customary closing conditions. The Transaction will significantly augment Vejii's offering of plant-based brands, which have, to date, through ShopVejii.com and VeganEssentials.com, leveraged Vejii's platform for sales, marketing and order fulfillment and distribution across the U.S. and Canada via Vejii Fulfillment Services. "We heard consistently from the brands that we serve that they were seeking to make the leap from e-commerce, to grocery and foodservice distribution. This could mean shipping samples, managing broker relationships, or gaining access to those restaurants and grocers not served by the larger wholesalers," added Zelickson. "We already work with our brand partners on a business-to-consumer ("B2C") strategy through our marketplace, but now we can also help our brand partners get access to distribution in local restaurants and grocers, expanding Vejii's capabilities from just B2C to also include B2B and food service." "I built VEDGEco out of a necessity, given the limited plant-based options available in the small and local grocers and restaurants where I live in Kailua, Hawaii," said Trevor Hitch, CEO of VEDGEco. "Most of us are likely to have our first experience trying new plant-based products at a restaurant before purchasing those items to enjoy at home. With VEDGEco, our mission is to make plant-based options more broadly available by making them accessible to thousands of local restaurants across America. This access gives owners the ability to test products on their menu through our easy-to-use platform, without the need for long-term commitments or high, minimum order volumes. Owners can then see what works for their customer base and then return to re-order or test new options." The Transaction is expected to drive synergies across purchasing, customer service, technology, and logistics for Vejii and VEDGEco. Vejii will also be able to leverage VEDGEco's existing facilities in Hawaii, Northern California and Georgia, while providing VEDGEco with access to its facilities in Texas, Wisconsin, and its soon-to-be operational third-party logistics operation in Southern California. "The acquisition of VEDGEco will allow us to add a new revenue stream while increasing our buying power and margins with large brands, and also adding tremendous value for the brands on our platform. As restaurants and grocers expand their plant-based offerings, we will be strategically positioned to serve them while helping plant-based brands scale their businesses by offering those brands access to national distribution through the VEDGEco wholesale platform." Darren Gill, COO of Vejii In addition to providing VEDGEco's existing offering of wholesale plant-based products, Vejii will now have the ability to significantly expand VEDGEco's product selection by leveraging its existing case-lot purchasing and expanding the range of products on its platform through VEDGEco. VEDGEco operates its distribution centers from Hawaii and California, which will further expand Vejii's distribution network, reducing shipping costs and expanding the Company's offering of regionalized same-day delivery. About VEDGEco USA Inc. Headquartered in Kailua Hawaii, and launched in 2020 VEDGEco, the first nationwide plant-based foodservice distributor, helps restaurants go vegan by offering a selection of uncompromisingly delicious plant-based options that are easy to prepare. With a goal of bringing the freedom of food choice to all restaurants and businesses, VEDGEco distributes plant-based products in bulk to the restaurant and wholesale food industry, as well as to consumers across the U.S. Carrying a carefully curated selection of the best plant-based meat, dairy, and egg alternatives, VEDGEco ships frozen and in recyclable and compostable packaging to reduce our carbon footprint. About Vejii Holdings Inc. Headquartered in Kelowna B.C, Vejii is a unified digital marketplace and fulfillment platform featuring thousands of plant-based and sustainable-living products from a growing list of hundreds of vendors. The platform offers an easy-to-use, omnichannel experience for both vendors and buyers, leveraging big data and artificial intelligence to elegantly connect brands with a targeted consumer base, both organically and through specialized marketing programs. Dynamic fulfillment services empower brands to offer tier-one service, with ongoing engagement being driven through features like smart lists, subscription programs, reordering functions, sampling programs, and more. The Company also owns and operates U.S.-based Veg Essentials LLC ("Vegan Essentials"), which operates VeganEssentials.com. A staple of the plant-based community, Vegan Essentials was established in 1997 and contributes more than 20 years of consumer insight, data, and buying power. VeganEssentials.com was awarded best online vegan store from 2005-2018, as well as best online vegan grocer from 2018-2021 by VegNews Magazine.

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TECHNOLOGY

Dashlane Launches Small Business Campaign to Increase Security Awareness Among SMBs

Dashlane | May 06, 2022

In honor of World Password Day and Small Business Week, Dashlane, the leading credential and digital identity management company, today announced a brand campaign, Dashlane for SMBs, to increase awareness on the importance of making security simple for small and medium-sized organizations and their people. As part of the campaign, Dashlane is offering 30% off new accounts for Teams and Businesses from May 5 to May 19.Small and medium businesses are the backbone of this country, and often they may lack the IT resources or budget for enhanced security protocols. The pandemic has also shifted workers to remote or hybrid work. In 2021, according to our trend report, 71% of small businesses made some security changes, with 43% adopting new security policies, 40% increasing cybersecurity training, and 31% started investing in digital security tools like password managers. Dashlane’s Password Playbook for Small Businesses shows how small-business leaders can manage passwords to secure company and employee accounts and protect sensitive data—all while improving productivity. The company released initial findings on trends regarding the future of secure work for small businesses, in anticipation of their launch of a full report later this month. We want to empower leaders to create a culture of security, where employees understand their role in protecting data and are active participants in ongoing security conversations,” said Dashlane CEO JD Sherman. “It is key for SMBs to identify, measure, and mitigate cybersecurity risks and have the tools they need to maintain good security habits without trading simplicity for convenience. “Dashlane is passionate about making security simple for small and medium sized businesses, Cybersecurity is now a standard part of doing business and unfortunately, SMBs are even more susceptible to online threats. We will continue to serve as a trustworthy partner to this community, providing the necessary tools and information for them to protect their walls, gates, and human behavior.” -Dhiraj Kumar, Dashlane CMO. Launching this summer, Dashlane’s Domain-based Dark Web Monitoring capability - called Dark Web Insights - will continue their mission in supporting threat management for businesses by helping them identify breaches that could impact their organization. For more on Dashlane’s campaign, visit the Dashlane blog. About Dashlane Dashlane is a tool that simplifies password management for people and businesses. We empower organizations to protect company and employee data, while helping everyone easily log in to the accounts they need—anytime, anywhere. A better digital future starts with secure access. Our team in Paris, New York, and Lisbon is united by a strong sense of community and passion for improving the digital experience. Over 15 million users and 20,000 businesses in 180 countries use Dashlane for a faster, simpler, and more secure internet.

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Spotlight

Starting with the R77.20.51 firmware released in February of 2017 you can enable Threat Emulation to detect unknown zero-day threats contained in files using our sandboxing technology. Watch our video to find out how to trial Threat Emulation on the 700 Small Business Security Appliance.

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