F|T: The FinTech Times – Massive momentum

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Some banks begin rollout of EDC loan guarantee for Canadian businesses (BETAKIT)

Scotiabank and National Bank have made available the EDC loan guarantee program, signalling that Canada’s big banks are starting to roll out the program.


Your accounting and finance system may be slowing you down

Billing used to be easy. Products were billed once when they were sold or delivered. Now software companies have a blend of products—subscriptions, usage billing, services, training, and perpetual licenses. Some of it is billed once, and some of it is billed every month.

Many accounting systems weren’t built to handle this complexity, and can’t be easily integrated with Salesforce to automate your quote to cash process. Learn the clear five signs you’re outgrowing your accounting and finance system.

A major FinTech startup exec is being minted into NYC’s latest VC (TECHCRUNCH)

VC firms are bulking up on their FinTech talent — even those who specialize in the field itself.

London-based FinTech startup Capdesk raises £3 million for equity management platform (TECH.EU)

Capdesk, a London-based platform allowing private companies to digitise their equity management, has raised £3 million in a Series A round led by Fuel Ventures.

Clearbanc tightens belt following new cashflow product for COVID-impacted companies (BETAKIT)

Revenue share investor Clearbanc launched a new product to support entrepreneurs facing a finance crunch due to COVID-19 and has also laid off 17 employees.

FinTech startup Libeo raises €4m (UKTN)

This second round will enable Libeo to accelerate its growth, in a crisis context that increases the need for effective cash management.

FinTech startup Yap raises $4.5 million led by Beenext (THE ECONOMIC TIMES)

The five-year-old Chennai-based startup, which in February raised Rs 10 crore, claimed it closed last financial year with a 400% revenue growth.

As applications open, here are the details of the new $250 million COVID-19 IRAP subsidy program (BETAKIT)

The National Research Council of Canada has opened applications for the $250 million IRAP COVID-19 Innovation Assistance Program (IAP).

Digits launches a free expense monitoring dashboard for small businesses, closes on $22M Series B (TECHCRUNCH)

The dashboard, called Digits for Expenses, helps business owners track how their company is spending money, by showing things like spend by category, by identifying vendors and recurring expenses and by offering real-time alerts, among other features.

Shell-backed firm raises $2.5M for zero-knowledge proof platform (COINTELEGRAPH)

Applied blockchain, a Shell-backed distributed ledger technology, or DLT, firm, has secured $2.5 million in funding for applications that use zero-knowledge proofs, or ZKPs, in the context of business-to-business transactions.

Applications for emergency co-lending begin to open as BDC finalizes program (BETAKIT)

Financial institutions will now roll out the program to businesses today and in the coming days.

FinTech firms race to plug gaps in UK’s coronavirus relief measures (CNBC)

Alternative lenders say they can provide support to small businesses more quickly than their larger competitors.

Stripe’s API “Stripe Issuing” now open to all U.S. businesses (CROWDFUND INSIDER)

According to Stripe, Stripe Issuing was created to help businesses manage how funds get spent.

Caitlin Hotchkiss

Caitlin Hotchkiss

Content coordinator, social media smartypants, wordsmith, Human Workflow™. Exists primarily on coffee, cat pictures, German dance metal, and pro wrestling. I will fight for your right to the Oxford comma.

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