Abrams and O’Connor Hodgson founded Now in 2010 to provide small businesses a quicker method for getting invoices paid. When a business submits an invoice through NowAccount, the service pays 100% of the invoice, minus a 3% merchant fee.
“We sell bonds in the capital market, just like American Express does,” O’Connor Hodgson explains. “We have very low-cost capital that we’re able to give that small business their revenue immediately. And then we’ve built a system that allows us to manage the cost and risk of that, because we’re going to then wait 30+ days to get paid.”
Today the Georgia-based company announced that it has raised $9.5 million in Series A funding. The round, led by Virgo Investment Group and featuring Cresset Capital Partners, will be used to help scale Now’s offerings. It comes as the pandemic has put even more of a strain on invoices for many companies. O’Connor Hodgson says the average wait time for invoice payment expanded from around 50 days to between 70-80.
— Read on techcrunch.com/2021/06/09/stacey-abrams-cofounded-fintech-company-now-raises-9-5m/
Twitter disclosed on Monday that it blocked four accounts in India to comply with a new legal request from the Indian government. The American social network disclosed on Lumen Database, a Harvard University project, that it took action on four accounts — including those of hip-hop artist L-Fresh the Lion and singer and song-writer Jazzy […]
— Read on techcrunch.com/2021/06/07/twitter-restricts-accounts-in-india-to-comply-with-government-legal-request/
What is Solana (SOL)? Solana is a web-scale blockchain that provides fast, secure, scalable, decentralized apps and marketplaces.
— Read on genesisblockhk.com/what-is-solana/
Investors allocating to crypto are looking for yield, just like dividend paying stocks and bonds. It’s one of the best things about DeFi.
— Read on www.forbes.com/sites/kenrapoza/2021/06/06/defi-yield-farming-what-is-it-how-should-you-invest-in-it/
The US Federal Reserve is took a step toward developing a digital currency as it announced plans to publish a research paper on the subject..
— Read on www.engadget.com/us-federal-reserve-is-looking-closer-at-a-digital-currency-125534039.html
Instagram is interested in building a platform to buy and sell NFTs, based emails sent to artists inviting them to be on a panel to discuss the space with Instagram’s product and development teams. Artists feel that they are being taken advantage of by not being properly compensated.
— Read on www.forbes.com/sites/jacksonweimer/2021/05/22/instagram-is-looking-to-create-an-nft-platform-but-is-overlooking-artists/
Scott Campbell is opening a marketplace where tattoos will be sold as digital tokens.
— Read on www.nytimes.com/2021/05/22/style/nft-art.html
With bitcoin, dogecoin and other cryptocurrencies on a wild ride, regulators are looking at everything from banking to trading to tax regulations.
— Read on www.protocol.com/fintech/bitcoin-cryptocurrency-regulations
‘Jugular’ of the U.S. fuel pipeline system shuts down after cyberattack – POLITICO
— Read on www.politico.com/news/2021/05/08/colonial-pipeline-cyber-attack-485984
NFTs are a flashy new digital trend geared toward the über-rich. But some experts hope to harness their blockchain technology to prove the origins of artifacts taken by European nations—and potentially upend the stagnated pecking order of the art world.
— Read on www.vanityfair.com/news/2021/04/blockchain-is-a-perfect-record-keeper-could-the-viral-nft-craze-help-countries-reclaim-their-stolen-art