TECHNOLOGY

Norma: Turkey’s First Neobank for Freelancers, Sole-Traders, and Micro-SMBs Launches Platform to Help Manage their Business and Finances

Norma | June 24, 2022

Norma: Turkey’s First Neobank
Norma, an all-in-one banking, accounting, and business services platform, has seen interest from members early on with more than 2000 small business pre-registrations for its services. Norma moved from its closed beta to public launch in Turkey and is quickly onboarding small businesses on its list while also acquiring new members. Norma wants to onboard thousands of small businesses in the country before the year end and collect feedback from them to release new features to enhance and automate their financial experience.

Norma completed two successful fundraising rounds within the span of one year; a $350k pre-seed round from various angel investors in Turkey and a seed round of $1,8m led by Global Founders Capital, and joined by MSA Novo, Finberg, D4 Ventures.

The founder Hakan Gonca, a seasoned executive in the Fintech space, is excited about the product release and explains why Turkey is the right place to launch, emphasizing on the crucial role Norma will play in the lives of SMBs and freelancers. Norma wants to build an internationally impactful company, while partnering with globally recognized brands and bringing customer-oriented solutions for small businesses to increase their visibility in the banking system, and to support their financial efficiency.

“All around the world, banking is focused on individual users and the needs of large companies, while ignoring small businesses that need these products the most. Moreover, the products offered to these businesses come with no advantages in terms of segmentation or pricing. Norma offers a next-generation experience by focusing on the needs of these businesses while creating a community where members can learn from each other as well. Norma distinguishes itself from the traditional banking approach by combining all company finance and accounting information on a single platform, while expanding the scope of banking services offered to these businesses. The interest international investors has given us even further assurance that we will make a great deal of difference in banking for small businesses with our customer-oriented vision. Norma is keen to become a multi-regional player and grow both in Turkey and new markets.”

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INDUSTRY OUTLOOK

London Underwriters Launches With Slice to Protect Small Businesses

Slice Labs Inc. | June 17, 2022

Slice Labs Inc. (Slice), a technology company with the first on-demand insurance platform, announced the launch of a new partnership that gives London Underwriters’ agents access to Slice’s 100% digital platform for small business coverage. Agents can quote in 30 seconds and issue in under 5 minutes. “We’re excited about the simplicity and ease of Slice’s solution – the digital experience is a perfect fit for our agents,” -Daniel Feigenbaum, CEO of London Underwriters. The product is under the Slice brand and is available now. It includes General Liability coverage for artisan contractors, general contractors and remodelers, a product that has been very successful with small businesses. “Working with London Underwriters expands our reach and our ability to continue to empower agents with products to protect small businesses,” -Tim Attia, co-founder and CEO of Slice. About Slice Labs: Slice Labs Inc. is building the future of insurance by enabling insurers, MGAs, and technology platforms to build intelligent and intuitive, on-demand digital insurance products via Slice’s cloud-based platform. Founded in 2015 and headquartered in New York City, Slice has been consistently recognized as an insurance and technology leader by industry publications, awards, and Tier 1 publications. To learn more, visit https://slice.is. Follow Slice on Twitter and LinkedIn. About London Underwriters: London Underwriters is an insurance wholesale broker that specializes in writing property and casualty insurance. As one of the nation's largest Insurtech distributor, London Underwriters offers their appointed agents several Insurtech programs where agents can quote and bind online plus hundreds of traditional brokerage markets they can submit business to. If you are interested in becoming an appointed agency of London Underwriters, visit www.londonuw.com for more information.

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BUSINESS STRATEGY

LegalShield Partners with NEWITY to Empower, Protect and Equip Small Businesses with Legal Services and Solutions

LegalShield | May 20, 2022

As we continue to spotlight small businesses during May, LegalShield, the leading provider of membership-based legal services and identity theft protection plans, announces a partnership with NEWITY, the small business marketplace dedicated to creating equitable access to SBA loans and trusted business service providers. As NEWITY’s official legal services provider, its 115,000 small business members will have access to LegalShield’s Small Business Legal Plans, services, and network of provider law firms Our organization cares deeply about the success and sustainability of small businesses and providing them with the tools and resources needed to survive and thrive. It’s important to us to partner with other organizations, like NEWITY, who are champions for small businesses so together, we can create a meaningful impact, said Jeff Bell, CEO of LegalShield. “We are committed to helping our community access the best business resources that enable their growth and profitability, LegalShield’s affordable legal and cyber protection tools are essential to protect the businesses our members have worked so hard to build.” -Luke LaHaie, Co-CEO and Co-Founder at NEWITY LegalShield has legal plans to help small business owners and entrepreneurs make smarter, safer business decisions. From launch phase to growth phase and beyond, members can connect to professional lawyers for advice, guidance and to assist with all legal needs pertaining to the business. NEWITY members will also have access to IDShield for Business, which provides businesses and employers with cybersecurity protection tools, reputation management, recovery services and more. About LegalShield A trailblazer in the democratization of affordable access to legal advice, counsel, protection, and representation, LegalShield is the world's largest platform for legal, identity, and reputation management services protecting individuals and businesses across North America. Founded in 1972, LegalShield, and its privacy management company, IDShield, has provided individuals, families, businesses, and employers with tools and services needed to affordably live a just and secure life. Through technology and innovation, LegalShield is disrupting the traditional legal system and transforming how and where people receive legal guidance and services, with access to thousands of qualified, trusted attorneys and law firms. To learn more about LegalShield and IDShield products and services, visit LegalShield.com and IDShield.com. About NEWITY NEWITY is America's Small Business Marketplace, focused on empowering entrepreneurs with access to trusted service providers and affordable loan solutions – all in one place. NEWITY was founded in 2020 to better service Paycheck Protection Program loans. Today, NEWITY uses leading technologies to help small businesses access services that make running their business more efficient and more profitable. To join NEWITY’s growing small business community, visit NEWITYmarket.com.

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FINANCE

Caary Capital Partners With Ceridian to Enhance Its Small Business Payments Offering

Caary Capital | August 04, 2022

Caary Capital announced a joint effort with Ceridian, a global leader in human capital management (HCM) technology, to extend its value to Ceridian’s Powerpay customers.Powerpay, a cloud-based payroll and HR solution, is designed to meet the needs of Canada’s small business segment. Together with Caary Capital’s credit and spend management platform, the two companies will better meet the needs of Canadian small and medium-sized businesses by offering enhanced services. “Ceridian is a global software leader and champion for Canadian businesses, Shared values are an integral component of any partnership, and we are pleased to join forces with Ceridian to continue to offer solutions for the small business community, a long-underserved segment.” -John MacKinlay, CEO of Caary Capital. According to recent research from Caary Capital, the Canadian Lenders Association and Xero, Canadian small and medium-sized enterprises struggle with access to corporate credit and financial products and services, often having to rely on a personal guarantee or a personal credit card. This is compounded by the administrative aspects of payroll that take small business owners’ focus away from business growth. “At Ceridian, we’re driven to extend our Makes Work Life Better™ brand promise to our customers and their employees. Today’s announcement marks the start of a meaningful collaboration with Caary Capital and will deliver benefits for small and medium-sized business in Canada,” -Ettan Romm, Director of Product Management at Ceridian. By delivering corporate credit without the usual required personal guarantees and credit checks, Caary Capital is enabling greater access to financial services. Caary Capital looks at a business’ cash flow and assets to assess risk and make corporate credit an option for small and medium-sized businesses. The fintech platform provides no-fee credit cards, 1.5 per cent cash back on all spend and administrator-managed virtual cards to streamline employee and supplier expenses. The new partnership with Ceridian will provide access to Caary Capital’s product and services to Ceridian’s Powerpay customers, giving easier access to joint products, discounts for customers and continued collaboration. For more information visit caary.com or ceridian.ca. About Caary Capital Ltd. Caary is a fintech platform for small and medium-sized enterprises (SMEs) led by the Caary Business Mastercard®. With Caary, SMEs can better control their spending and automate expense management. The Caary platform comes with 1.5% cash back on all spend, no fees, no foreign exchange fees and self-directed employee and supplier cards. 98% of Canadian businesses are SMEs. Accessible credit cards, capital and fintech products are the tools to help them compete, grow and thrive. Visit caary.com for more information.

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TECHNOLOGY

Firstbase Startup Platform Adds Wise to Initiate Instant Cross-Border Payments

Firstbase | June 08, 2022

Firstbase, the first all-in-one OS that allows anyone to incorporate a U.S. company and manage their entire business on a single platform, today announced a partnership with Wise (LON: WISE)—the global technology company that built the best way to move money around the world—to integrate the Wise Platform API into Firstbase Loop. Now any business can experience seamless account creation and verification with Wise directly through the Firstbase platform. Firstbase makes it easy for anyone in the world to incorporate a company in the U.S., while Wise makes it possible to instantly move money abroad more with lower exchange fees and other costs than traditional banking solutions. The tens of thousands of existing businesses on Firstbase now have a fast and affordable way to send money internationally, joining the 13M people and businesses using Wise—processing over $8B in cross-border transactions every month and saving customers over $1B a year by using the real exchange rate. Research conducted by Wise discovered that 46% of small businesses around the world operate internationally. Over half (51%) reported that the complexity of making and managing international payments is a major deterrent to either venturing or further expanding overseas. Ninety-five percent of the companies that incorporate with Firstbase onboard a business banking product. Over 80% of these companies that incorporate using Firstbase come from 180+ countries, with the largest markets including India, the United Kingdom, Nigeria, Pakistan, and Canada. As such, Firstbase customers require a cross-border, multi-currency financial solution that keeps pace with their company’s global footprint. Now with Wise seamlessly integrated into Firstbases’s all-encompassing platform, affordable international payments are readily available to match the digital demands facing today's founders. Wise ensures that all businesses have a trustworthy and transparent solution to send money abroad, which is now accessible within the Firstbase operating system,” said Ryan Zagone, Americas Partnerships Lead at Wise. “By integrating with Firstbase Loop, newly incorporated companies around the globe can now send money safely and with ease. “The global reach of Firstbase companies means we need financial solutions that work across the world, and that’s exactly what Wise offers our platform, Now any U.S. entity that Firstbase serves has an international money transfer solution they can count on with Wise.” -Firstbase CEO and founder Mark Milastsivy. About Firstbase Firstbase is the first all-in-one company OS that helps anyone launch, grow, and manage a U.S.-based business. With a growing suite of products, Firstbase makes it easy for founders to incorporate their business, access critical growth tools, and manage their company from a single online dashboard—no matter where they are located anywhere in the world. More than 15,000 founders from over 180 countries trusted Firstbase to help them launch their business. Start and grow your company in minutes at https://www.firstbase.io/ About Wise Wise is a global technology company building the best way to move money worldwide. With the Wise account, people and businesses can hold over 50 currencies, move money between countries and spend money abroad. Large companies and banks use Wise technology too; an entirely new cross-border payments network that will one day power money without borders for everyone, everywhere. However you use the platform, Wise is on a mission to make your life easier and save you money. 13 million people and businesses use Wise, which processes over £6 billion in cross-border transactions every month, saving customers over £1 billion a year.

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