FINANCE

QuickBooks Checking Now Included in Intuit QuickBooks' Integrated Small Business Bank Account

Intuit | December 20, 2021

QuickBooks Checking was launched today by Intuit, the global technology platform that powers TurboTax, QuickBooks, Mint, Credit Karma, and Mailchimp. QuickBooks Checking, first introduced in 2020 as QuickBooks Cash, has changed business banking into an active money-management center that provides small businesses with increased cash flow predictability and financial control. Differentiated banking experience enhanced with new features to deliver greater value, visibility and cash management capabilities to small businesses.

QuickBooks Checking's active client base has increased fourfold since January 2021, with more than a third of those customers being new small companies operating for less than a year. As an online and mobile-optimized banking solution, small businesses can open a QuickBooks Checking account in minutes and instantly gain access to a variety of services and features, including a debit card (physical and virtual)*, a competitive 1.00 percent annual percentage yield* on all balances, and no-fee bill pay (checks and ACH).

"Thousands of small businesses are turning to QuickBooks Checking to manage their cash flow, and we’re laser-focused on continuing to refine and design an even more robust banking experience with their specific needs in mind."

Rania Succar, Senior Vice President of QuickBooks Money Offerings

QuickBooks Checking will provide small company users with two critical features: Cash Flow Planner* and Envelopes*. The Cash Flow Planner* provides actionable insights to assist with future planning by forecasting cash flow 90 days in advance using machine learning and data analysis. Envelopes* allow small firms to segment cash for anticipated or unforeseen expenses, preventing funds from being spent before their intended use. Sales tax in particular is something businesses need to plan for and trying to manage this manually can take significant time and energy. QuickBooks Checking will help streamline this procedure for small businesses by introducing Sales Tax Automation*.

Additionally, QuickBooks Checking is delivering additional capabilities to further strengthen its position as a one-stop business banking solution. Among the new features are the following:
  • Mobile Check Deposit*
  • A Virtual Debit Card*
  • Apple Pay/Google Pay*

QuickBooks Checking, a business checking account offered by our partner GreenDot Bank, is integrated with QuickBooks' suite of money products, which includes payments, capital, and banking services. These products are specifically designed to assist small business customers in gaining faster access to their money and managing their cash flow more effectively. Through services such as QuickBooks Checking and Money by QuickBooks, Intuit is transforming business banking by simplifying money management and increasing cash flow predictability for small companies at every step of their journey.

About Intuit
Intuit is a multinational technology company that specializes in assisting individuals and small companies with overcoming their most significant financial obstacles. We believe that everyone should have the ability to flourish and serve over 100 million consumers globally through TurboTax, QuickBooks, Mint, Credit Karma, and Mailchimp. We are constantly on the lookout for fresh, inventive methods to make it feasible.

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TECHNOLOGY

Checkr Announces Acquisition of GoodHire

Checkr | April 18, 2022

Checkr, a leading HR technology company powering the future of work, announced today that it has entered into an agreement to acquire Inflection, whose flagship brand GoodHire is a leader in background checks for small businesses. This is Checkr's largest acquisition to date, enhancing its leadership in the background check industry. The transaction closed in April 2022. This acquisition is a critical part of Checkr's expansion strategy in its fastest growing small-to-medium sized (SMB) business segment. GoodHire serves tens of thousands of customers in this segment. It was the first provider to offer a self-service background check solution, designed specifically for small businesses, featuring a 100% online experience, built-in compliance, an intuitive interface and excellent customer service. Companies of all sizes now expect digital tooling and a great candidate experience to win the war for talent — the kind delivered by innovative gig companies like Uber and Doordash. With this acquisition, Checkr is positioned to bring an innovative, best-in-class software platform to customers of all sizes - now including small businesses as well. "This acquisition is bringing two of the most innovative companies in our space together. Our teams have so much in common: a focus on building delightful experiences for customers, very similar cultural values and most importantly, a commitment to build a fairer future for workers." Daniel Yanisse, CEO of Checkr "Small businesses are the backbone of our economy, creating the vast majority of new jobs in North America," said Naeem Ishaq, CFO of Checkr. "We're excited that this strategic acquisition enables Checkr to tap into this incredible growth and further accelerate our fastest growing customer segment." "We're excited to join forces with Checkr and help make compliance and hiring easier, faster and more accurate." said Mike Grossman, CEO of Inflection. "I am confident that together we will continue to always build the best products for our customers." About Checkr Checkr's mission is to build a fairer future by designing technology to create opportunities for all. Established in 2014 and valued at $5 billion, Checkr builds people infrastructure for the future of work. We believe all candidates, regardless of who they are, should have a fair chance to work. That's why we've designed a faster—and more fair—way to screen job seekers. Many of the fastest-growing businesses in the world use Checkr's technology to easily initiate and review background checks. Our customers include Uber, Instacart, Netflix, Adecco, Airbnb, Coinbase and more than tens of thousands of customers from SMBs to Fortune 500 employers. We have the goal to work with our customers to unblock four million candidates in 2022. About GoodHire Since 2013, GoodHire has been a trusted background check partner to tens of thousands of organizations. With its innovative, technology-first approach, coupled with an intense focus on customer delight, GoodHire has redefined the background check service industry. GoodHire uses automation and advanced data engineering to help customers accelerate hiring and make more confident hiring decisions. Thanks to its easy-to-use platform and responsive, FCRA-trained support team, our customer satisfaction and NPS scores match those of America's most trusted brands.

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IMPACT

H&R Block Continues Partnership with Nextdoor® to Connect Neighbors and Improve Communities Across the Country

H&R Block | February 24, 2022

H&R Block announces its third consecutive year of partnership with Nextdoor to find and execute 10 community improvement projects through Block's Make Every Block Better community impact platform. Now through March 31, people can nominate their neighborhood for a project that helps improve the places and spaces where neighborhoods convene. The call for community improvement projects supports neighborhoods and involves small businesses, ultimately positively impacting millions of Americans. The companies will narrow the submissions and bring 10 winning projects to life. Nominations are open for the following categories: neighborhood beautification, neighborhood cleanup, park renewal, community garden and more. In the last two years, this partnership between H&R Block and Nextdoor has received nearly 4,000 submissions narrowed down to 20 projects across the country. The chosen neighborhoods came together to build gardens, community spaces, murals, revitalizations and even a butterfly sanctuary. One example includes a playground project in New Jersey’s West Milford neighborhood that continues to bring life to the community. “The local kids and parents are spending more time together and helping to build better relationships with neighbors at the playground, but it has also increased our community pride.” Elisabeth Kenney, a resident of West Milford, N.J. This partnership is just one way H&R Block is working to Make Every Block Better through its community impact platform, which launched in 2019. To date, the company has supported more than 258 communities and 304,000 small businesses, with H&R Block associates volunteering more than 205,000 hours. About H&R Block H&R Block, Inc. provides help and inspires confidence in its clients and communities everywhere through global tax preparation services, financial products, and small-business solutions. The company blends digital innovation with human expertise and care as it helps people get the best outcome at tax time and also be better with money using its mobile banking app, Spruce. Through Block Advisors and Wave, the company helps small-business owners thrive with innovative products like Wave Money, a small-business banking and bookkeeping solution, and the only business bank account to manage bookkeeping automatically. About Nextdoor Nextdoor is where you connect to the neighborhoods that matter to you so you can belong. Kindness is core to our purpose: to cultivate a kinder world where everyone has a neighborhood they can rely on. Neighbors around the world turn to Nextdoor daily to receive trusted information, give and get help, get things done, and build real-world connections with those nearby neighbors, businesses, and public services.

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FINANCE

Voya announces recipients of new Black-owned small business grants

Voya Financial | February 25, 2022

Voya Financial, Inc., announced today, the launch of a new grant program to aid small businesses owned by individuals from underrepresented communities. The five recipients, all Black-owned, technology-based businesses, will each be awarded $10,000 to help them grow and thrive. “This inaugural grant program reflects our mission to make a secure financial future possible for everyone. Several of these startups are women-owned, all are Black-owned, and each one demonstrates a commitment not just to success, but to a shared value with Voya giving back to the community,” said Braeden Mayrisch, associate vice president, Stakeholder Equity and Impact, and vice president, Voya Foundation. “We invest in Black and African American leaders, be they teachers, STEM professionals, or small businesses and nonprofit executives, and showcase aspirational careers to our nation’s children.” The grants are a program developed by the company’s Diversity, Equity and Inclusion (DEI) Task Force, undertaken in collaboration with the Association for Enterprise Opportunity (AEO), focused on supporting Black- and African American-owned businesses and positioning Black entrepreneurs as role models for youth. “AEO and our 2,600 members and partners are excited to support this vital work helping underserved entrepreneurs contribute to the economic growth of their families and communities. It is even more impactful that these grants are targeting an underrepresented field like technology.” Connie E. Evans, president and CEO of AEO The five grant recipients each of which offer technology-based products and solutions for different industries and are at various stages in their corporate development are: Imani Software, a technology service based in Pflugerville, Texas, that provides education administrators with early warning and intervention assistance for at-risk youth. LiftEd, located in Brooklyn, New York, this education technology service uses data and software tools to support special-education instructors, simplify success monitoring, and enhance lesson plans. Nailstry, an augmented reality beauty application based in Davie, Florida. Shared Knowledge, an education technology service that designs free smartphone apps to help with data analysis, training, and mental health in school systems, based in Sterling, Virginia. Total Analysis, is a Detroit-based technology company that uses a platform to streamline pathogen identification in the healthcare space. About Voya Financial® Voya Financial, Inc., is a leading health, wealth and investment company that provides products, solutions and technologies that help Americans become well planned, well invested and well protected. Serving the needs of 14.3 million individual, workplace and institutional clients, Voya is a Fortune 500 company that had $4.2 billion in revenue in 2021 and $739 billion in total assets under management and administration as of Dec. 31, 2021. Certified as a “Great Place to Work” by the Great Place to Work® Institute, Voya is purpose-driven and is equally committed to conducting business in a way that is socially, environmentally, economically and ethically responsible. Voya has earned recognition as: one of the World’s Most Ethical Companies® by the Ethisphere Institute; a member of the Bloomberg Gender-Equality Index; and a “Best Place to Work for Disability Inclusion” on the Disability Equality Index. About Association for Enterprise Opportunity (AEO) AEO is the leading voice of innovation for microbusiness and microfinance. We create economic opportunity for underserved entrepreneurs throughout the United States. We engineer transformational change through Research, Incubation, Convening & Advocacy to foster a robust and inclusive marketplace.

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MARKETING AND NETWORKING

H.I.G. Capital Completes the Sale of Digital Room

H.I.G. Capital | December 23, 2021

H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with over $45 billion of equity capital under management, is pleased to announce the sale of its portfolio company Digital Room, LLC (“Digital Room” or the “Company”) to an affiliate of Sycamore Partners. Terms of the transaction were not disclosed. Headquartered in Sherman Oaks, CA, Digital Room is a leading e-commerce provider of customized marketing products to small and medium sized businesses. The Company reaches its diversified customer base through a series of its own websites and fulfills the products through an extensive network of facilities across North America. H.I.G. acquired Digital Room in December 2017 in partnership with the Company’s senior management. Through a combination of significant organic growth as well as highly strategic tuck-in acquisitions, Digital Room doubled revenue and profitability during H.I.G.’s ownership period, generating an outstanding return for its investors. Mike Turner, CEO of Digital Room, added: “H.I.G. has been an outstanding partner to Digital Room since their initial investment in 2017. In addition to supporting our acquisitions efforts, H.I.G. provided us with the freedom and flexibility to grow the business organically and served as a value-added advisor to our senior leadership team. As a result of our work together with H.I.G., Digital Room is larger, stronger, and more diversified today than it was in 2017. We now offer a more comprehensive set of value-added solutions to our small and medium sized business customers.” “We are extremely pleased with the results of our investment in Digital Room and are proud that H.I.G. played a role in building a solid foundation upon which the Company will continue to profitably grow. Digital Room is an exceptional organization with outstanding leadership and we wish the Company the best in the next chapter.” Rahul Vinnakota, Managing Director at H.I.G. Matt Hankins, Managing Director at H.I.G., further commented, “We have been thrilled with the partnership with Digital Room management and look forward to the Company’s continued success.” Baird and Harris Williams were the financial advisors to Digital Room, and Ropes & Gray LLP represented H.I.G. Capital and Digital Room as legal counsel. About Digital Room Digital Room offers a broad array of marketing products for small and medium sized businesses through a portfolio of uniquely branded eCommerce websites, including Uprinting.com, Signs.com logosportswear.com, packola.com, eSigns.com, PrintPlace.com, NextDayFlyers.com, PrintRunner.com, and 48HourPrint.com. Digital Room’s focus on providing an outstanding user experience and excellent products has built loyal repeat customers from its base of small business owners, design professionals and marketers. About H.I.G. Capital H.I.G. is a leading global alternative assets investment firm with over $45 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro and São Paulo, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/value-added approach. Since its founding in 1993, H.I.G. has invested in and managed more than 300 companies worldwide. The firm's current portfolio includes more than 100 companies with combined sales in excess of $30 billion.

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