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Rekk Newtek Small Business Finance Has Funded Over $500M For PPP
Hong Kong-based FinTech Oriente has raised $50 million in its ongoing Series B round, according to finews.asia.Oriente, which provides customers with financial resources like cash loans, digital credit, offline-to-online consumer finance, point-of-sale POS lending solutions, and working capital financing for small- to medium-sized businesses SMBs , has about 5 million users and over 1,000 merchants through its Cashalo app in the Philippines and Finmas app in Indonesia.The main backer of this round is Dr. Peter Lee, who is the co-founder of property developer Henderson Land and website developer Wix.Oriente said it will use the money to boost its growth in existing markets and further new developments in places like Vietnam. The funding will also go toward technological advancements, more improvements on its product suite and better big-data capabilities.Co-Founder Geoffrey Prentice said the investment gives the company a boost during the current troubled times amid the coronavirus pan stanley kubek demic. He said the funding puts us in a strong position as we look to step up our efforts in a highly co stanley cup mpetitive sector. Oriente has been seeing gains recently, with 700 percent year-over-year growth in transactions and over 4 million new users in 2019. Its sales volume increased 20 per stanley thermos cent for merchant partners last year.In March, Oriente announced a new debt funding facility for $50 million from Silverhorn Group.In 2018, Oriente raised $105 million in a funding round, then one of the large Igen BoA Receives $6B In SMB Loan Requests Within Hours
mPOS has been promoted as the next step in secure payments systems. Yet Thursday, MWR InfoSecurity researchers showed how MPOS terminals can be comprised via multiple attack techniques. The researchers鈥isplayed how an attacker could gain full control of the MPOS terminal, allowing them to display try again ; messages, switch the device into insecure mode, capture PIN and credit card data, and even enable the device to accept ille stanley cup gitimate payments from stolen credit cards. Noted SC Magazine.The experiment proved how mPOS, while secure, still needs vigilant monitoring and updated sec stanley mugs urity measures.Watch mPOS solutions continue to evolve, here. Whats Hot is aggregated content stanley polska . PYMNTS claims no responsibility for the accuracy of the content published by the original source. |
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