SaaS Capital, the leading provider of Committed Credit Facilities to SaaS companies, today announced that it has provided a $2 million line of credit to Graduway.
“We are delighted to be joining the highly successful SaaS Capital family,” said Daniel Cohen, Founder and CEO of Graduway. “This new growth funding will provide Graduway the power to drive our clear strategy of developing leading-edge, next-generation products, deepening our relationships with customers, increasing our market share and reaching new markets and geographies.”
With headquarters in the U.K. and operations in the U.S. and Israel, Graduway is proven and trusted by 400+ education institutions and non-profits, including UCLA, Johns Hopkins and the University of Oxford, to manage their online alumni career communities. The company’s SaaS platform is simple to set up, available on all devices, easy to manage and offers alumni exclusive opportunities.
“This is an incredibly driven management team, and we are fortunate to have connected with them,” said Todd Gardner, Founder and Managing Director of SaaS Capital. “They are so focused on serving their customers with great products and support, that they have quickly become the market leader in alumni engagement.”
Read more at SaaS Capital
Dianrong today announced a new technology agreement with Maggie Ng, a leading consumer banking executive in Asia Pacific, to launch the first global fintech marketplace connecting Asian investors with high-quality, low-volatility and largely untapped asset classes, including U.S. consumer lending. The new strategic alliance combines Dianrong’s advanced technology with Ms. Ng’s extensive consumer-lending experience.
Ms. Ng and Dianrong engineers are currently completing beta testing for the new fintech platform that will provide Asian investors with an integrated solution to access U.S. marketplace lending assets. The platform will utilize multiple U.S. marketplace lenders and a single onboarding and know-your-customer process. It will also offer advanced risk modeling capabilities, added credit enhancement and structuring features, and blockchain solutions to safeguard data integrity. Investors will also have access to real-time performance monitoring, U.S. tax-exemption filing capabilities and a secondary market for liquidity.
The new fintech marketplace leverages Dianrong’s award-winning Tuantuanzhuan (TTZ) technology, which has the ability to allocate investor capital across hundreds of thousands of loan assets in real time.
A commercial launch of the platform, to be based in Hong Kong, is expected by the end of the second quarter of 2017, pending final regulatory approvals.
Read more at Cision
Soul Htite, an original co-founder of Lending Club and now the founder of Dianrong, a marketplace lending platform in China, compares the development of peer-to-peer lending between the US and China, and reveal plans for a new supply chain financing platform in the country.
- Htite believes that there is so much capital in people’s hands in China, but no investment opportunities
- He is impressed by how Chinese regulators are looking at the problems of the P2P industry
- Dianrong chose to do its business in China due to three reasons: internet availability, good system of laws and the entrepreneurship mentality of the people
Read the full interview at The Asian Banker
Bizzabo, a startup that wants to simplify the process of marketing events, has raised a Series A round of $6.5 million.
This brings its total funding to $14.5 million. Bizzabo, which is based in Tel Aviv and New York City, will continue to develop and add functions to its cloud-based event management platform.
Bizzabo’s Series A was led by Zvi Limon, a founding partner of Magma Venture Capital; Galileo Technology and Annapurna Labs co-founder Avigdor Willenz; and angel investor Danny Tocatly. Returning investors LionBird, Kaedan Capital, Yair Tauman, Gigi Levy, Eyal Ofer and Eli Alroy also participated.
Bizzabo’s main competitor is Cvent, which is now the world’s largest event management software after it was acquired and merged with Lanyon by Vista Equity Partners for $1.65 billion last year.
Bizzabo founder and CEO Eran Ben-Shushan says his company differentiates by focusing on small and medium-sized businesses and digitizing more of the organizational process. He won’t disclose how many companies currently use Bizzabo, but claims it is in the “high hundreds.” Its highest-profile customers include GE, Virgin, USAA and The Lean Startup.
Read more at TechCrunch
WayUp is making its first acquisition — it’s buying the similarly focused Looksharp.
Both companies have created job listing sites for college students and recent graduates, but WayUp co-founder and CEO Liz Wessel told TechCrunch they’re complementary in a rather specific way.
The key, she said, is search engine optimization — after all, that’s where job seekers usually start looking for opportunities. And while WayUp’s student profiles do well on Google (in some cases ranking above LinkedIn), Wessel said Looksharp has better SEO when it comes to job listings.
For that reason — and because WayUp and Looksharp “had similar users but not the same users” — the two companies started discussing a partnership, which eventually turned into a conversation about a possible acquisition.
WayUp isn’t disclosing the financial terms of the deal. Looksharp had raised more than $10 million in funding from investors, including 500 Startups, Artis Ventures, Kapor Capital and Subtraction Capital. WayUp, meanwhile, has raised nearly $9 million.
Read more at TechCrunch