You are receiving this message because you have visited our site and requested to be contacted. If you no longer wish to be contacted, please use the removal link: REMOVE. | | | | This cannabis startup pioneered “rapid onset” gummies | | | | | | Most people prefer to smoke cannabis but that isn’t an option if you’re at work or in public. That’s why we were so excited when we found out about Mood’s new Rapid Onset THC Gummies.
They can take effect in as little as 5 minutes without the need for a lighter, lingering smells or any coughing.
Nobody will ever know you’re enjoying some THC. We recommend you try them out because they offer a 100% money-back guarantee. And for a limited time, you can receive 20% off with code FIRST20. | | | | | | Fintech Renaissance: Promising Startups to Watch in 2024 | | | | Venture Capital in Fintech: A Shift in Dynamics Venture capital funding for fintech startups has experienced a notable decline globally since the onset of the downturn, with deal-making reverting to pre-pandemic levels. In the previous year, investments totaled $46.3 billion across 3,867 deals, as reported by PitchBook, in stark contrast to the 6,517 rounds worth $88.8 billion in 2022. However, an upswing in VC deal-making is anticipated this year, with fintech startups likely to witness increased activity as the market stabilizes. Companies are now placing a greater emphasis on core metrics rather than merely prioritizing unchecked growth.
Emerging Trends in Fintech The current landscape reveals founders adopting more realistic valuation approaches and focusing on maintaining adequate runway during financing rounds. The period following the pandemic has prompted a reassessment of strategies, paving the way for a more sustainable and pragmatic growth environment.
Spotlight on Promising Startups for 2024 Several innovative fintech startups have emerged as noteworthy contenders in the industry, each poised to make a significant impact in the coming year.
Kiln (France) Kiln operates as an enterprise staking platform, enabling institutional clients to stake assets and seamlessly integrate white-label staking into their products. With over $4 billion in crypto assets staked via its infrastructure, Kiln has formed strategic partnerships with notable institutions, positioning itself as a crucial player in the evolving digital assets landscape. The future of financial services is being shaped by such enterprise-grade technologies, and Kiln is well-equipped to support both crypto-native clients and traditional finance organizations.
Palm (Sweden) Palm serves as a modern enterprise treasury operating system, assisting treasurers in efficiently managing cash across numerous bank accounts and legal entities. With a team boasting deep expertise, Palm fosters trust with some of the largest global brands. The solution addresses the gap in effective tools for mid-market companies and enterprises to manage treasury accounts, enhancing cash forecasting and continuous position tracking.
SESAMm (France) SESAMm specializes in identifying ESG controversies through advanced AI techniques, screening billions of documents across multiple languages. This innovative approach uncovers environmental, social, and governance risks, allowing asset managers, banks, and corporations to navigate the complexities of sustainable investing. By applying analytical skills to proprietary datasets, SESAMm revolutionizes ESG risk monitoring, ensuring alignment with global commitments and regulations.
Salv (Estonia) Salv focuses on aiding banks and financial technology companies in combating money laundering and reducing financial crime. As the fight against financial crime remains a priority for financial institutions, leveraging the latest AI advancements will be essential for rapid growth and product development in this dynamic sector.
Volt (UK) Volt, an account-to-account payment provider, is gaining momentum following a successful $60 million Series B raise in 2023. The upcoming year is expected to solidify open banking payments as a mainstream method, driven by favorable regulatory conditions. With technology covering 680 million bank accounts across 25 territories, Volt's recent partnerships position it for another standout year in 2024.
Clara (UK) As AI continues to dominate discussions, 2024 is anticipated to be the year that theoretical advancements translate into practical applications. Clara is developing an innovative solution aimed at enhancing portfolio performance analytics and personalizing client communications. This approach represents the future of client-centric, AI-driven wealth management, with significant implications for the industry.
NomuPay (Ireland) NomuPay is a cutting-edge end-to-end payment platform tailored for expansion into regions experiencing high cross-border and e-commerce growth. The platform facilitates local payment acceptance across Southeast Asia, Europe, and the Middle East through a single integration system. Positioned to capitalize on emerging market opportunities, NomuPay's recent acquisition of Total Processing strengthens its foothold and value-added service capabilities.
Know Your Customer (Hong Kong) Know Your Customer specializes in corporate onboarding and compliance solutions, offering a modular platform with live connections to official company registries across more than 130 countries. In navigating complex cross-border structures, this regtech company enhances traditional data offerings with real-time data access, positioning itself advantageously as demand for SaaS solutions continues to rise. | | | | 5 Ways UpMarket Transforms Your Investment Strategy | | | | | | Are you looking to build a more diversified portfolio or access new investments?' UpMarket offers hedge funds, pre-IPO investments, and more.
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| | | | | | The Tax Trap: Why High Rates Chase Wealth Away | | | | The Fallacy of Higher Taxation Historically, an increase in tax rates has been touted as a solution to economic challenges, yet this perspective is fundamentally flawed. In 1974, a dramatic rise in the top income tax rate to 83%, coupled with a staggering 98% tax on investment income, prompted high earners to seek opportunities abroad. Those who lived through that era witnessed a mass exodus of talent and capital as individuals prioritized environments where their efforts would yield tangible rewards.
Globalization of Wealth By the 1970s, many high-net-worth individuals had embraced a global identity, discovering that their wealth could be better utilized in more favorable tax climates. This trend has only intensified in today's interconnected world, where countless individuals now have the means to relocate their wealth and expertise to more tax-friendly jurisdictions.
The urgency to act is evident; individuals with foresight are proactively divesting assets before a potential hike in Capital Gains Tax (CGT) to 45% from the current 20%.
Political Promises vs. Reality Recent statements from political figures indicated a lack of intention to increase CGT, only for those assertions to crumble under scrutiny. The proposed tax hikes reflect a misunderstanding of business fundamentals and threaten to alienate established entrepreneurs and wealth creators. With escalating taxes, the allure of building a business diminishes significantly when the prospect of handing over nearly half of the profits becomes a reality upon selling.
The Burden of Capital Gains Tax The potential impact of CGT on business sales is staggering. For instance, had recent tax policies been in place during the sale of a major business venture, the financial repercussions would have been drastically different. While substantial profits were made from such transactions, they represented the culmination of decades of hard work and calculated risk.
Entrepreneurs often embody an inherent drive to innovate and create, making it unlikely for them to abandon their pursuits altogether. However, the harsh tax landscape may compel them to shift their ventures to regions that foster a more conducive business environment, ultimately leading to a brain drain in the local economy. | | | | | | | | | | | Bowery Farming Faces Turbulence Amid Valuation Plunge | | | | Financial Struggles in Vertical Farming Vertical farming startup Bowery Farming is experiencing significant financial challenges, marked by multiple rounds of layoffs and a slowdown in growth as its valuation has sharply decreased. As the latest unicorn to face such adversity, Bowery exemplifies the mounting stress within the sector as funding becomes increasingly scarce.
Funding Shortfalls and Valuation Drops In response to sector-wide fundraising difficulties, Bowery secured an initial close of $85 million for its Series D funding round, aiming for a total of $220 million. This amount is considerably less than the $320 million raised during the Series C1 round in 2021. Existing investors have participated in this latest round, but the overall financial climate remains precarious.
In October, the company underwent its second round of layoffs in under five months and postponed the opening of two new farming facilities in Georgia and Texas, originally scheduled for the first quarter.
Dramatic Valuation Adjustments The valuation of Bowery has suffered tremendously, with a leading investor writing down the value of its shares by over 85% since leading the Series C1 round, which valued the company at $2.32 billion. This decline reflects a broader trend affecting various agtech companies during a slowdown in fundraising efforts, as investors withdraw from emerging industries like vertical farming.
Despite the difficult environment, Bowery asserts that the recent funding signals confidence in its core business fundamentals and future growth potential.
Challenges in Securing Debt Financing In 2021, Bowery obtained a $150 million credit facility from an investor group to support the expansion of its smart indoor farm network. However, concerns about the company's ability to meet its credit agreement obligations have emerged, raising the possibility of missed payments. Recent assessments have indicated a substantial drop in the estimated value of this loan.
The fundraising landscape has sharply declined, with VC investments in indoor farming plummeting from $2.1 billion in the first three quarters of 2022 to just $275.5 million in the same timeframe this year—a staggering 87% decrease.
High Operational Costs Affecting Viability Indoor farming requires significant investment, both in terms of labor and overhead costs, making it challenging to achieve venture-scale returns. The capital-intensive nature of this business is compounded by rising interest rates on existing debt. Several prominent indoor farming companies have filed for Chapter 11 bankruptcy protection this year, indicating the struggles within the sector.
In contrast, Bowery has managed to keep its products available in stores and maintain operations at its existing farms, demonstrating resilience in a tough market. The company positions itself as a leader in sustainable farming, boasting 100% renewable energy usage and requiring 90% less water than traditional agriculture.
Strategic Moves to Conserve Cash In an effort to conserve cash, Bowery transitioned its loan terms from cash payments to payment-in-kind interest, allowing unpaid interest to be added to the loan total. This approach reflects a broader trend among borrowers looking to preserve liquidity during challenging economic conditions.
In a positive development for concerned lenders, Bowery paid down $15 million of its credit facility in the most recent quarter. The company maintains that it is current on its payments and is in good standing with creditors.
Continued Commitment to Innovation Despite the hurdles faced, Bowery continues to innovate in the indoor farming space, having acquired a startup focused on robotic strawberry harvesting. Although the landscape appears challenging, Bowery's commitment to sustainable practices and cutting-edge technology positions it as a key player in the future of agriculture. | | | | Emerging Tech Hubs Redefining Startup Success | | | | The Rise of Thriving Startup Cities While the Bay Area and New York have long been the epicenters of venture capital, cities such as Raleigh, N.C., and Istanbul are cultivating vibrant tech ecosystems that are gaining traction. Dubai, for instance, has seen local startups secure $3.8 billion through 815 deals in the past five years, achieving a VC growth score of 72.8 according to PitchBook's rankings. Other cities like Detroit, Berlin, and the Raleigh area are also emerging as strong contenders, showcasing significant growth potential.
These cities may not lead in total VC funding or the number of successful exits, yet their rapid development indicates promising opportunities for future investment and growth.
Cultural and Geographical Diversity in Growth The fastest-growing tech hubs demonstrate a rich tapestry of cultural and geographical backgrounds. A few key characteristics contribute to the flourishing of these VC ecosystems.
An Industry-Centric Environment Cities such as Houston and Detroit benefit from established infrastructure and corporate presence in sectors like energy and automotive. Detroit, recognized as the fastest-growing startup hub in the United States, leverages its automotive industry to create a continuous cycle of talent, investment, and strategic partnerships for new ventures.
For example, Rivian, an electric vehicle startup, was founded in Detroit in 2009 and garnered corporate investment from automotive giants alongside venture capital, eventually achieving a market capitalization of $15.2 billion. This collaboration showcases how a strong industrial foundation can stimulate startup success.
A Young, Diverse Talent Pool The research triangle surrounding Raleigh has become a vibrant VC ecosystem, even when excluding a major funding round for a local gaming company. The collaboration among institutions such as UNC Chapel Hill, Duke University, and North Carolina State has led to a significant influx of local investors, further fueling growth.
Similarly, Nanjing, China, is a prime example of a university-driven ecosystem where institutions prioritize advanced STEM education, producing a remarkable pool of talent. Annually, thousands of graduates enter the local tech scene, contributing to a burgeoning industry supported by VC funds that have raised $12.9 billion in the past five years.
Supportive Government Policies Dubai stands out for its favorable regulatory environment, particularly for blockchain startups. The city has seen a surge of interest from global cryptocurrency companies, reflecting a broader trend of rapid growth across various verticals. The United Arab Emirates exemplifies how low taxes and government-sponsored business incentives attract talent and investment.
In 2023, the UAE's crown prince announced a $100 million VC fund aimed at creating an additional 8,000 jobs, further underscoring the government's commitment to fostering innovation. Additionally, Dubai's wealth of private capital has enabled local VC funds to raise $1.5 billion since mid-2017, making it an appealing destination for investors. | | | | Navigating Cruise and Flight Packages: The Ups and Downs | | | | The Appeal of Cruise-Booked Flights Booking a cruise often includes the enticing option of having the cruise line arrange flights, frequently promoted at discounted rates. This convenience can appeal to travelers looking to simplify their plans, but careful attention to the fine print is essential, as policies can differ significantly across companies. Ultimately, selecting flight-inclusive cruise deals presents both notable advantages and potential challenges.
Advantages of Cruise-Arranged Flights Streamlined Planning Process Opting for flights booked through a cruise line alleviates the burden of coordinating air travel with cruise schedules. The cruise line takes on the responsibility of finding suitable flights that align with departure and return times.
Access to Competitive Rates Cruise lines often secure bulk fares through partnerships with airlines, which can result in lower prices compared to individual bookings. Although these deals may not always be cheaper, independent research is advisable to ensure the best option. For instance, one cruise line guarantees passengers the lowest airfare available, providing a refund for any difference found elsewhere, albeit in the form of shipboard credit rather than cash.
Upgraded Travel Experience Including airfare in the cruise package may lead to favorable seating arrangements. Some premium cruise lines provide complimentary business-class airfare for suite passengers, particularly on long-haul flights, enhancing the overall travel experience. However, it is important to compare cabin prices with and without airfare to assess true value.
Support During Travel Disruptions Should flights be delayed or canceled, cruise lines typically offer round-the-clock assistance to help passengers navigate the logistics of catching up with the ship or arranging alternate accommodations. However, travelers should be aware that any additional costs incurred may ultimately be their responsibility, making it crucial to understand the cruise line's policies regarding missed departures.
Challenges of Booking Flights Through Cruise Lines Limited Flexibility Booking flights through cruise lines often restricts flexibility regarding airline choice, flight times, and whether layovers are required. Many cruise lines require travelers to arrive on the day of departure, potentially limiting the opportunity for pre-cruise exploration unless additional fees are paid.
Frequent Flyers May Be Disappointed Frequent travelers aiming to earn airline rewards might face disappointment when booking through cruise lines. Bulk fare agreements often result in minimal or no mileage accumulation, and passengers may miss out on complimentary upgrades associated with loyalty programs.
Hidden Costs While transfers between the airport and the ship may seem included, they often come with additional fees. Similarly, any changes to itineraries can incur penalties from both the cruise line and the airline, making it vital to consider potential hidden costs when booking a package.
Direct Management of Reservations Required Passengers looking to customize their flight experience, such as selecting specific seats or dietary preferences, must still engage directly with the airline. This includes managing checked luggage and associated fees, adding another layer of complexity to the travel experience.
Final Thoughts Booking airfare through a cruise line can provide convenience and potential savings, but those seeking flexibility and customization should conduct thorough research. Understanding the specific terms and conditions associated with the cruise’s air transportation options will help ensure that this choice aligns with travel preferences. |
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