Delta, a global leader in power and thermal management solutions, today announced a new partnership with DATABOX - Informática, S.A., a prominent IT channel distributor based in greater Lisbon, Portugal, to provide Delta’s wide range of energy-efficient Uninterruptible Power Supplies (UPS) and Data Centre Infrastructure Solutions to IT resellers and system integrators throughout Portugal. By leveraging their close collaboration as well as Delta’s core competencies in energy-efficient ICT infrastructure and DATABOX – Informática’s deep expertise in the local market, this partnership is expected to meet the demanding requirements for edge computing in Portugal.Commenting on the partnership with Delta, João Pedro Reis, CEO of DATABOX - Informática stated: “Delta’s smart energy-efficient solutions are world-renowned for their energy savings and reliability which, combined with the company’s commitment to sustainability, means that we are proud to partner with such an established and recognised brand that complements our values, products and services. By working closely with Delta, we will be able to help our IT resellers and system integrators to deliver highly reliable UPS and data centre solutions to their customers.” 

Jaime Palma, channel manager of Mission Critical Infrastructure Solutions (MCIS) in Portugal for the Delta Electronics EMEA region, added: “DATABOX – Informática is a well-established national IT distributor which has an excellent reputation and long-lasting relationships with its suppliers and customers. Its superior local stockholding, sales force and customer capabilities, combined with Delta’s highly quality products, can offer IT resellers and system integrators the ideal solution for their needs. Delta looks forward to expanding the relationship into other Delta portfolio solutions to help Portuguese corporations enhance their competitive edge through higher energy efficiency and higher productivity.” 

The award-winning UPSs designed by Delta act as advanced power managers, ensuring the availability of an uninterrupted power supply to protect hardware and mission critical applications. High-quality UPSs function as an essential safeguard against many potential energy issues, including voltage surges and spikes, voltage sags, total power failure, and frequency differences. With the rise of edge computing, Delta also offers its InfraSuite Datacenter Infrastructure Solutions to support its customers in building an optimal data centre with fully-integrated infrastructure solutions. 

DATABOX – Informática was founded in 1981 and has earned the trust of almost two hundred suppliers and approximately 4,500 channel partners. It is highly regarded in Portugal and its commitments to quality, value and good customer support will enable Delta to grow the presence in Portuguese markets of its UPS and data centre solutions. DATABOX’s local stock-holding, very strong sales force and first-line support make it highly responsive to its customers. Delta will provide second-level support and beyond, including supplementary value-added services when required. Together, the two companies will work together to offer clients Delta’s reliable UPS and data centre solutions.

• Eiffel Investment Group, a leading specialist in energy transition financing, is initiating a pan African bridge funding strategy for renewable energy infrastructure. 

• This strategy aims to accelerate the electrification of the African Continent with the objective  of funding renewable-based electricity to an equivalent of two million consumers(1). 

• It extends to the African Continent Eiffel Investment Group’s construction bridge fund  programme which has already financed more than 1,900 renewable energy projects, in Europe  and beyond, alongside more than 60 independent developers. 

• It is managed by a dedicated team led by Alan Follmar and Pierrick Paindavoine, seasoned emerging market investment specialists who joined Eiffel Investment Group to reinforce the  existing energy transition team. 

• Eiffel Investment Group has partnered with Finergreen, the leading energy transition financial  advisor operating through three offices in Africa and a team of 15 focusing exclusively on the  African market. 

A first target of 200 million US$ 

Eiffel Investment Group aims to replicate in Africa the successful bridge funding programme it already  implements in Europe. Eiffel Investment Group’s existing bridge funds allow renewable energy developers  to start the construction of their renewable energy projects in parallel with the implementation of a  permanent capital structure. In Europe, these funds have financed over the past five years more than  1,900 renewable energy infrastructure and energy efficiency projects alongside more than 60  independent project developers. 

This initiative of Eiffel Investment Group aims to meet the growing demand for bridge financing in Africa.  As is often the case, capital raising from international investors, multilateral organisations, development  banks, and local partners can be a long and complex process, and the unavailability of long-term capital 

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at the time when projects are ready to build is a major contributor to slow deployment of renewable  energy on the continent. To date, no other similar financing solution is available to project developers(2).  Demand is strong, several bridge financing have already been closed, including recently a 3 million € financing granted to ManoCap Energy to deploy solar projects in Ghana and Sierra Leone, and numerous  new opportunities are being analysed. 

Eiffel Investment Group aims to raise a fund (strictly dedicated to professional investors) of 200 million  US$, to address a dynamic market with demand for bridge financing estimated at more than 600 million  US$ per year(3). Eiffel Investment Group plans to bring together investment from public and private  institutions in this vehicle. The European Investment Bank has already initiated due diligence in view of investing up to 30 million US$ in the fund (subject to internal approvals). Other European and international  public and private investors are also assessing the opportunity. Launch is targeted in the first half of 2022. 

Pierre-Antoine Machelon, Head of Energy Transition at Eiffel Investment Group, said “We want to  continue supporting those developers for whom we have already provided bridge financing, as well as  other developers, within the context of their projects in Africa”, and added, “This is in line with our overall  corporate strategy of responding to urgent demand for financing where no adequate solution is currently  available in the market.” 

A team of seasoned emerging market investment specialists  

The Eiffel Investment Group investment platform (approximately 75 staff of which two thirds investment  professionals) has been reinforced for this initiative. Alan Follmar and Pierrick Paindavoine, each of whom  has more than 20 years of financing and investment experience in developing countries, have joined the  team to lead the African strategy of Eiffel Investment Group. 

Alan is a recognised expert in emerging market financing, investment, and infrastructure and renewable  energy project development undertaken with the context of concession or public-private partnership  schemes. He has held leadership roles in investment banking, where he completed numerous capital  markets transactions for public utilities. He has also held executive management positions for advisory  and project development companies and investment fund managers. For the past three years Alan has  been responsible for the capital raising and development of the first utility scale renewable energy project  in Chad. 

Pierrick is an accomplished and highly experienced financing and investment professional having managed  strategic projects for large industrials such as Louis Dreyfus as well as for finance institutions. He played a  leading role in the execution of numerous transactions in diverse industry sectors, primarily in emerging  markets, and has lived over ten years in Latin America and Africa. Pierrick has set up several impact  investment funds. 

These appointments highlight Eiffel Investment Group’s strategy of reinforcing the investment team in  view of meeting its commitment to key partners of the energy transition and to maintaining its leadership  in financing a low carbon economy.

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A partnership with Finergreen, global leader in financial advisory for the energy transition 

To address the African market, Eiffel Investment Group has joined forces with Finergreen, a global leader  in financial advisory for the energy transition and in particular within emerging markets. 

Finergreen helps renewable energy developers find and implement financing solutions and has completed  more than 150 transactions since inception. Having established offices on every continent, Finergreen  covers Africa through its three offices located respectively in Abidjan, Nairobi, and Cape Town and which  are staffed by 15 dedicated experienced professionals. 

Finergreen supports Eiffel Investment Group through project sourcing, investment analysis, and asset  monitoring. 

Damien Ricordeau, founder and CEO of Finergreen, and Pierre-Antoine Machelon stated “We are  delighted to bring together a leading asset manager and a leading financial advisor with the aim to  meeting an urgent demand for bridge financing in Africa, where Finergreen opened its first international  office in 2016.” 

Seeking to make a strong impact 

Considering that today more than half of the population of Africa does not have access to electricity, the  deployment of new generation capacity, especially renewable energy plants, is a critical challenge for the  coming decades. Access to energy is the fundamental starting point for economic and social development  in Africa, noting especially that the population is going to continue to grow significantly. Within four years,  Eiffel Investment Group aims to fund enough projects to bring renewable electricity to an equivalent of  two million consumers on the continent(1). 

Looking beyond its ability to accelerate the development of the project pipeline, this new financing  solution will also bring with it many other external benefits relating to job creation and the general  improvement in living conditions for communities. As an impact investor, Eiffel Investment Group has put  at the heart of its corporate strategy the goal of creating positive environmental and social impacts along  with being a leader in financial innovation. These goals are clearly set out in Eiffel Investment Group’s  ESG-Climate strategy published in May 2021. In this respect, funding renewable energy projects in Africa  fits perfectly into the roadmap that has been set out. 

The teams diligently measure non-financial impacts generated by their bridge funding solutions in Africa.  With this in mind, renewable energy output, equivalent tonnes of CO2 avoided, the number of new  persons supplied with electricity, or even the number of educational and social programmes supported  by the projects that have been financed and commissioned will be monitored and reported. The level of  protection of biodiversity will also be tracked.

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Fabrice Dumonteil, founder and CEO of Eiffel Investment Group, concluded “Our goal of generating  greater positive impacts through our investments is particularly well illustrated with this initiative, because  the issues related to electrification and energy transition in Africa will be crucial over the next 20 years, as  it will also be for Europe and the rest of the world.” 

Several launches of new solutions, NFT creations, job moves, and collaborations took place at the beginning of January 2022. Which ones are worth reading?

Launches

New solution for trade finance intermediaries

A new Broker Module by Fineon Exchange, the leading global AI-powered marketplace for trade finance assets, helps trade finance brokers, advisors, and consultants to source and conclude trade finance agreements more efficiently with the help of a brand-new digital solution. Users can access the whole global network of banks and non-bank financial institutions through the broker-centric platform and identify the bankability transactions. This unique solution can match borrowers and funders, manage the transactions, and provide real-time funder connections visibility. 

Tesco Bank announces its new way of shopping for Clubcard members 

Tesco Clubcard Pay+, a new way for consumers to pay, save, and earn Clubcard points almost every time they purchase, is now available for all customers to sign up for. Tesco Clubcard Pay+, which is a first for the UK market and is given by Tesco Bank, is a more convenient method to pay for purchases. Following a successful phased rollout that began in March 2021 with a small number of customers and Tesco staff, more than 20 million Clubcard members may now apply online. 

Investment and funding 

Checkout.com raised $1 billion in series D

Checkout.com, a payment processing company for merchants, announced that it has secured $1 billion in its Series D fundraising round, valuing the company at $40 billion. Several large mutual fund management companies on the west coast are among the primary investors, including Altimeter, Dragoneer Capital, Franklin Templeton, GIC, Insight Partners, the Qatar Investment Authority, Tiger Global, the Oxford Endowment Fund, and another large west coast mutual fund management firm. The company's other existing investors were also among those who took part in this financing round. 

In addition to providing a full-stack web platform, Checkout.com also provides payment processing services for major worldwide corporate merchants. This contributes to the company's aim of enabling companies and their communities to succeed in the rapidly expanding digital economy.

Sygnum receives more funding

Sygnum, a digital asset technology group, has raised USD90 million in an oversubscribed Series B funding round led by Sun Hung Kai & Co Limited. Co-investors in the round include prominent blockchain, non-fungible token (NFT), and metaverse gaming companies including Animoca Brands and Wemade, founders of leading decentralized finance (DeFi) protocols, and existing strategic investors such as SBI Holdings and Siam Commercial Bank's digital investment arm, SCB 10X. 

Sygnum is valued at $800 million on a post-money basis, according to the round. Additionally, like with all previous fundraising rounds, a big number of workers participated as personal investors during the Series B round as well. These team members have now joined the co-founders, board of directors, and management team as shareholders in the company, and this group continues to own most of the company's stock. The proceeds will be used to speed the development of new institutional-grade Web 3.0 solutions by Sygnum.

Sumeru Equity partners invest in iProov

A growth investment of $70 million in iProov, the world leader in online biometric face identification, was announced by Sumeru Equity Partners, a private equity firm. With its headquarters in Silicon Valley, Sumeru invests in technology startups that have the potential to alter the world, with a special emphasis on assisting enterprises in their expansion into North America. Investment from Sumeru will be used for rapid expansion in the United States and abroad, for accelerating the growth of its global partner network, and maintaining its position at the forefront of technological innovation while hiring qualified employees around the world.

Partnership

Ecospend and Contis are becoming partners to develop best BaaS products 

Ecospend, the top Open Banking technology supplier in the United Kingdom, has announced a partnershipwith Contis, the largest pan-European Banking-as-a-Service (BaaS) provider. Customers may choose from a selection of BaaS products from Contis, including cloud-based, real-time accounts and payments systems. Contis' clients will be able to make account-to-account payments and use account information services (AIS) for financial insights thanks to the integration of Ecospend's 'pay-by-bank' technology. 

Customers of Contis will be able to make quick payments across accounts, including holding accounts, allowing them to make immediate withdrawals, refunds, and assure guaranteed deposits. Additionally, an authorization code will be supplied to confirm when payments have settled using Ecospend's technology and to assist clients in managing their accounts. This ensures that no refunds or withdrawals are made before the initial transaction is completed.

Passfort and Trulioo form a global partnership

It was reported that PassFort, a Moody's Analytics firm, has formed an alliance with Trulioo, one of the world's largest identity verification companies. Trulioo and PassFort have formed a partnership to provide regulated businesses with a way to digitally transform their Know Your Customer (KYC) and Know Your Business (KYB) processes, regardless of where the business or their customers are located in the world. PassFort is a global provider of software-as-a-service regulatory technology solutions. 

When it comes to financial technology enterprises and their consumers, borders are becoming less significant as the development and consumption of digital financial services increases throughout the world. Organizations seek to attract and onboard clients from a diverse range of geographic locations, and consumers do not want to be restricted to a single nation of origin when accessing financial products.

Judopay in collaboration with Mastercard planned to revolutionize mobile purchases

Judopay, a leading mobile payments provider, has announced that it will collaborate with Mastercard on the development of its Click to Pay solution, which will be SCA compliant (Secure Customer Authentication compliant, which requires two-factor authentication in order to comply with new European Union regulations). Consumers and businesses benefit from Click to Pay, which provides a more convenient and secure guest checkout experience that is backed by intelligent recognition. Because of this, shoppers can check out online without having to physically input their card data every time or store them with numerous retailers, which makes it more convenient and safer.

This solution enables a smooth journey for guest checkouts by allowing customers to pay with ease on a website or app even if they have never visited it before using their Click to Pay account. Tokenization protects card details by allowing payments to be processed without the merchant having access to the customer's personal information.

Enable and IDEA form an exclusive partnership

Enable, a B2B rebate management SaaS provider, partnered with IDEA (the Industry Data Exchange Association), a member-owned data syndication provider whose innovative solutions make the supply chain faster, easier, and more efficient. IDEA is owned by the electrical industry and provides data syndication solutions to the electrical industry. Distributors may now access their manufacturer-authorized product information through Enable, which was previously unavailable. Organizations may develop, manage, and execute rebate agreements promptly and without the need for data transfer thanks to the continually updated product data made accessible by IDEA Connector, which is available 24/7.

Keebo and Experian collaborate to boost financial inclusion

To significantly increase access to credit for millions of underprivileged customers, Keebo, a challenger credit card issuer, has partnered with Experian, a renowned global information services firm. According to a study conducted by Experian last year, nearly 5.2 million people in the United Kingdom are virtually invisible to the financial system because there is insufficient information about their financial track record for organizations to make informed decisions about their financial well-being. Access to mainstream financial institutions is difficult for these "Credit Invisibles," and they sometimes must pay a premium in order to do so. 

In the rapidly increasing 'passion economy', Keebo provides support to freelancers, content producers, innovators, and millions of other customers, all of whom fall into the category of 'Credit Invisibles.' To support the economic boom of creators, traditional financial institutions are finding it difficult because many of these customers have limited financial histories on which traditional loan choices are based. Consequently, some artists may be obliged to take out loans at exorbitant – and potentially prohibitive – interest rates to fund their projects. Using non-traditional data sources, such as open banking data, Keebo can provide its consumers with better credit options.

AS Roma’s official prepaid cards from EML Payments and REPX

A prepaid card for the fans of the Italian football team AS Roma has been developed in collaboration with the credit card business EML Payments and the fintech firm REPX. The card will be available to fans across Europe. These cards will be available for purchase through an associated application, which will also allow the team to communicate with and engage with their expanding number of fans and followers. AS ROMA cardholders get access to a world of one-of-a-kind experiences that allow them to engage with their favorite team, including special offers and news about merchandising, tickets, invites to VIP events, and even meetings with their favorite football players.

Job Moves

Paysend strengthens Americas operation with Jairo Riveros as managing director

Paysend, the pioneer in card-to-card payments, announced that Jairo Riveros is becoming a managing director of North America and Latin America. Paysend has been operating in the US since September 2020 and enables citizens to send money to over 100 nations in near real-time without having to visit a bank. Jairo Riveros will be in charge of developing a world-class Fintech team, acquiring new regulatory permits, licenses, and collaboration arrangements across the Americas. 

Riveros presently leads Paysend's Office of Strategy Management. Riveros was Head of Market Models and Business Strategies for MasterCard Worldwide and its consulting subsidiary, MasterCard Advisors. He has also worked at Artemis Worldwide, a C-suite consulting business, and Monitor, Deloitte's Financial Services Strategy division. Jairo Riveros formerly led the TIAA Strategic Planning team and AIMCo's Strategy department.

IBM appoints new general manager for EMEA

Ana Paula Assis has been named General Manager of IBM Europe, Middle East, and Africa, according to IBM (NYSE) (EMEA). Marta Martnez Alonso, who has worked with IBM for 19 years, will be replaced. Ms. Assis, a renowned business leader with extensive international experience in strategic business development, transformation, and change management in multicultural environments, will oversee business operations in a region that spans more than 100 countries, driving revenue growth, client satisfaction, and employee engagement. 

Ms. Assis has held many senior positions with IBM throughout the course of her 25-year career, including General Manager for the Latin American area, where she achieved steady development and expanded market share. She has also held a number of key corporate positions in both the United States and China.

SmartSearch hires a new CEO

SmartSearch, the premier anti-money laundering company that expanded its operations into the United States last year, announced the hiring of Guy Harrison as its new Chief Executive Officer. Guy Harrison will be responsible for implementing SmartSearch's strategies to achieve further growth. 

Harrison is an experienced business leader with a demonstrated track record of building and developing high-growth enterprises in the data, analytics, and technology sectors. Dow Jones, where he was general manager of Dow Jones Risk & Compliance, a market-leading global provider of regulatory compliance and risk management solutions, has hired him as a senior vice president of the company. At IHS Markit, he was formerly the managing director of risk management, regulatory compliance, and compliance solutions. Guy worked as a management consultant for Deloitte for eight years before joining IHS Markit. He began his career as a management consultant at Goldman Sachs.

Nucleus Commercial Finance has a new business development manager now

Nucleus Commercial Finance, the fintech that is transforming the way small and medium-sized enterprises (SMEs) access finance in the UK, announced the appointment of Gurinder Mandir as business development manager for the Midlands, as part of its ongoing efforts to expand its support to businesses across the country. Gurinder comes to Nucleus from Reparo Finance, where he worked as a senior business development manager, where he was in charge of both unsecured and secured loan transactions and transactions. As a business development manager at Clydesdale and Yorkshire Bank, Gurinder brings with him nearly a decade of banking and finance experience, having previously worked as a relationship manager at Barclays, where he managed a portfolio of 200 clients, and at Clydesdale and Yorkshire Bank, where he supported businesses in a variety of industries. 

Gurinder will be responsible for developing strong broker connections in the Midlands and educating the broker network on Nucleus' product range and capabilities as part of Nucleus' strategy to drive growth and support for UK small and medium-sized enterprises (SMEs).

Sean Cleary is joining LMAX Group

Earlier this month, LMAX Group, the largest independent provider of institutional execution venues for foreign exchange and cryptocurrency trading, announced the appointment of Sean Cleary as Head of Liquidity Management and Analytics for the Americas. Sean will report to Patrick Bartle, the LMAX Group's Managing Director for the Americas, and will be stationed in New York for the duration of his tenure. 

Previously, Sean Cleary worked for market infrastructure firms such as CBOE Worldwide Markets, Currenex, BNP Paribas, and ICAP, where he was responsible for growing and developing global sales teams. Sean will be in charge of liquidity and analytics throughout the LMAX Group product portfolio for all clients in the Americas at the company's headquarters in Boston. Additionally, he will play a key role in the development and implementation of the Group's institutional foreign exchange growth strategy in the area.

Mergers and acquisitions

nCino acquired SimpleNexus and expands cloud-based platform

In addition to the cash consideration of approximately $270 million (excluding transaction expenses), nCino, Inc., a pioneer in cloud banking and digital transformation solutions for the global financial services industry, announced that it has completed its acquisition of SimpleNexus, the leading cloud-based, mobile-first homeownership software company, for a total consideration of approximately 12.76 million shares of nCino common stock and cash consideration of approximately $270 million (excluding transaction expenses).

By acquiring nCino, the company is demonstrating its commitment to revolutionizing the financial services sector via innovation, reputation, and rapid response. The SimpleNexus platform seamlessly integrates the people, systems, and stages of the home-buying process into a single end-to-end experience, allowing loan officers, borrowers, real estate agents, and settlement agents to engage in the homeownership process from any device, anywhere in the world, at any time.

Google acquired cybersecurity startup for $500 million

Google has bought Israel-based Siemplify for $500 million. Although no exact figures were disclosed, it is reported that Google paid $500 million for the Israeli cybersecurity start-up. Google has promised US President Joe Biden to invest in cybersecurity. Given the rise in data breaches and cyber-attacks, the business promised $10 billion over five years. Siemplify delivers security automation and orchestration. 83North and G20 Ventures have invested $58 million in the startup founded by Amos Stern. The company's Google Cloud relationship drew buyers' attention as it was seeking a fresh private round of funding. 

Since the coronavirus epidemic in 2020, Google's cloud income has risen to approximately $5 billion. This was ascribed to the move from office to home work. However, it also posed security risks, driving large corporations to invest in cybersecurity technologies. The Siemplify technology will be connected into Google's cloud, laying the groundwork for the forthcoming capabilities.

Delta Capita acquires JDX Consulting

JDX Consulting, a worldwide resource augmentation and domain consulting company, announced that its shareholders have concluded a deal in which JDX would be purchased by Delta Capita Group, a global technology services company. With the acquisition of JDX by Delta Capita, the merged organization will emerge as a dominant player in global managed services and consultancy in capital markets, utilizing its bank as a service infrastructure platform and bank as a service "one bank" infrastructure platform. 

In this deal, Prytek is acquiring the Financial Services section of Delta Capita, which is part of a $500 million commitment to speed the development and implementation of a "one bank" infrastructure platform. As a successful worldwide resource augmentation and consultancy firm with its headquarters in the United Kingdom, JDX has given Delta Capita a stronger presence in the United States and Asia-Pacific. The merged company will have a broad product and service offering, as well as a stronger presence in the United Kingdom and the European Union. Clients will benefit from the enhanced global scale across the company's complementary consulting products, as well as its technology and managed services solutions. Delta Capita will generate sales of $130 million and employ more than 1100 professional workers, according to the company.

Bluerunner is now owned by ParentPay Group

Earlier this year, ParentPay Limited, the UK's leading provider of school payment and parental engagement services, announced that it had acquired BlueRunner Solutions Limited, a leader in web and mobile-based meal ordering solutions for schools, contract catering companies, and hospitality establishments. ParentPay's existing food management platform will be enhanced with extra features for meal ordering in elementary schools, as well as rewards, loyalty, and hospitality booking for schools and tertiary education institutions, as a result of the agreement. 

A significant addition to the BlueRunner portfolio is a new tablet-based meal ordering and cashless catering product for secondary schools, completing the Group's primary and secondary school meal management solutions. ParentPay's reach into the hotel and corporate catering businesses in the United Kingdom has been expanded as a result of the purchase.

Leading AI-powered credit decisioning platform provider, Scienaptic AI announced its full integration with CU*Answers. The seamless integration of Scienpatic's AI-powered decisioning will provide new opportunities for CU*Answers credit union partners looking to expand credit access for their members.

Founded in 1970, CU*Answers is a credit union-owned cooperative CUSO headquartered in Grand Rapids, Mich., providing services to over 180 credit unions in 23 states plus Washington, D.C., representing two million credit union members and over $24 billion in assets.

Recently, Northern Hills Federal Credit Union (NHFCU), which is integrated with the CU*Answers ecosystem, went live on Scienaptic's AI-enabled underwriting platform. CEO of NHFCU, Floyd Rummel III, said earlier that, “going live with Scienaptic’s AI gives us the ability to provide instant and better credit decisions for every single member we serve. It is empowering our member-owners with more credit, enhancing their lives, and reinforcing our commitment towards the financial well-being of all members.”

“We are tireless in our pursuit of making our technology more attainable to credit unions so we can together revolutionize the lending industry and serve members better,” said Pankaj Jain, President of Scienaptic. “Our partnership with CU*Answers is a milestone that will allow us to help many more credit unions say ‘yes’ to their members, strengthen their portfolios and lower risk.”

After a successful bootstrapping period of three years, Shield closed its growth round, supporting expansion into North America led by Macquarie Capital and OurCrowd and joined by Mindset Ventures.

Shield (the Company), the world’s leading workplace intelligence platform for compliance teams, today, after impressively bootstrapping itself since its launch in 2018, announced it has closed a $15 million Series A funding round led by Macquarie Capital and OurCrowd with significant participation from Mindset Ventures. Shield will use the funding to significantly expand its U.S. presence with a New York City office, while further establishing itself in markets throughout Europe, the Middle East, Africa, and the Asia Pacific. The funding will also be used to ramp up development of Shield’s end-to-end, award-winning communications compliance platform.

Shield enables regulated financial institutions to detect market abuse, gain behavioral analysis, mitigate toxic workplace culture and ultimately automate surveillance over all employee communication channels, saving both operational and compliance cost.

Shield brings an immensely needed cloud native solution that is disrupting an outdated legacy vendor market through its cutting-edge platform that automatically captures, archives and provides surveillance over the communication channels that have become especially relied upon as remote and hybrid work environments become more permanent. Through rigorous data enrichment, powerful analytics, enhanced search tools and proactive surveillance, Shield offers a tailored platform that applies advanced Artificial Intelligence and Natural Language Processing capabilities throughout the entire communications lifecycle. An almost instant Time to Value solution, Shield makes communications compliance a competitive advantage.

“The ability to access and understand new and evolving communication channels is increasingly becoming a pain point for organizations, no matter the industry, and this funding round is well-timed as it will empower us to scale our technology and enhance our already robust platform that addresses compliance concerns that enterprises deal with daily,” said Shiran Weitzman, Co-Founder and CEO of Shield. “As a bootstrapped company, we’ve already proven that our AI platform is unquestionably valuable to banks and financial institutions. Now, with the help of our highly regarded investors, we’re ready to further build out our technology, expand our global sales and customer success teams, and enhance our already impressive ability to discover and manage compliance and risk concerns across electronic communications.”

The capital infusion and subsequent further development of its tech offerings come at a time when the industry is actively seeking cloud-based solutions - evidenced by Shield’s recent signing of a tier one global bank as a client. Global banks have come to rely upon Shield’s unmatched analysis, transparency and understanding of compliance triggers across all business communication channels. An advanced, end-to-end communications compliance platform, Shield allows organizations of any size and across industries to mitigate risks, escape time-consuming data silos, improve operational efficiency and reduce compliance costs.

“Compliance, legal and surveillance professionals in top tier banks and across financial service firms have incorporated the Shield platform, finding inherent value in our eDiscovery, case management, investigations, contextual surveillance and archiving solutions,” said Ofir Shabtai, Co-Founder and CTO of Shied. “From the time they implement our dynamic platform, our customers are seeing the benefits and immediate ROI.”

Over the past two years, since the pandemic hit, there has been a sharp rise in financial crime compliance costs, nearing $50 billion annually, making Shield’s platform much needed in today’s business environment.

“In order to support hybrid working, better manage changing compliance and regulatory requirements and the need to be cloud native Shield has adopted a new architectural approach to software development. Shield’s leading edged software platform, agile development philosophy and ability to rapidly implement its solution to deliver more immediate benefits to customers positions Shield to be a new market leader,” said David Standen, Co-Head Venture Capital Group, Macquarie Capital. “We are excited to be the lead investor and support the aspirations of the very talented team at Shield.”

Ontology aims to contribute to the burgeoning European privacy ecosystem through new partnerships, community members, and employees 

Ontology, the project bringing trust, privacy, and security to Web3 through decentralized identity and data solutions, has today announced the opening of a new European office in Berlin, Germany. 

Ontology’s move reflects its alignment with Europe’s efforts to increase data privacy and protection through legislation such as GDPR. In addition, the European Commission’s endorsement of Digital Identity as a more secure and convenient means for data storage and exchange for citizens makes Germany an ideal environment for Ontology’s expansion. By opening its new office in Europe, Ontology aims to play a role in increasing privacy across the continent and highlight the benefits that its decentralized solutions can bring to users and regulators alike.

Increasing privacy, transparency, and trust, Ontology’s high speed, low cost blockchain is designed to give users and enterprises the flexibility to build blockchain-based solutions that suit their needs, while also ensuring regulatory compliance. ONT ID, Ontology’s decentralized digital identity application, which enables users to fully control their digital identity, surpassed 1.5 million users in September 2021. Other products include the ONTO wallet, which allows users to securely manage their identities, data, and digital assets.

Europe is one of the largest hubs for blockchain related services and Web3 innovation worldwide, with much of the action happening in Berlin, which has seen over $13 billion of investment since 2016. As such, Ontology has chosen Berlin as a key strategic location where it will aim to expand its reach and capitalize on the incredible talent and resources available. 

Gloria Wu, Chief of Ecosystem Partnerships at Ontology, said: “Europe sits at the forefront of Web3 and technical innovation and its continued focus on increasing user privacy and security aligns clearly with our mission at Ontology. By opening our new office in Berlin, we are excited to contribute to the continent's ongoing efforts to create a more secure web. We look forward to growing our presence in Europe and contributing to the ecosystem through a host of new partnerships, community members, and employees. We are currently hiring for a number of roles available.”

The opening of the office supplements Ontology’s long standing roots in Europe, which have been established through a host of different partnerships. Following on from its previous partnership with Mercedes parent Daimler Mobility to develop Welcome Home, an in-car system designed to transform driving experiences, Ontology recently partnered with bloXmove, a European mobility blockchain platform designed to simplify travel across multiple forms of transportation. The partnership will see bloXmove integrate Ontology’s decentralized digital identity protocol into its platform, providing users with an identifier that will allow them to share their verifiable credentials, such as driving licenses and passports just once, in a way that is totally private, secure, and encrypted. 

Specifically in Berlin, Ontology has partnered with the Hochschule für Technik und Wirtschaft (HTW) University to explore joint research and teaching initiatives, with a view to developing a number of bespoke blockchain applications.

Dr. Rajesh Pant, National Cyber Security Coordinator, Government of India, has said that cybercrime is a national security issue and poses a biggest threat to a nation’s economic progress and various countries are coming together to ward off such threats. He was speaking at the 16^th edition of India Digital Summit 2022, organised by IAMAI.

About 32 nations have come together to fight the threat of ransomware. This year will be the year of consolidation and collaboration to keep cybercrimes at bay. Like-minded nations are finding solutions to it, he said.

The United Nations came out with 11 norms for responsible state behavior and various nations, including India, are planning how to implement these norms. Some of the norms are promoting inter-state corporation, respecting human rights and privacy, protecting critical infrastructure, safeguarding critical supply chains and preventing malicious use of digital technologies.

In 2020, when the pandemic broke out, we saw a number of phishing attacks. Last year, was the year of ransomware with some big-ticket attacks. This year it’s going to be the year of consolidation and cooperation to ward off certain attacks, he said.

The Indian cybersecurity services industry grew from USD 4.3 billion in 2019 to about USD 8.5 billion in 2021. The Indian cybersecurity products grew from USD 740 million in 2019 to reach USD 1.37 billion last year, as per reports