[Zebra in The Times of Israel] Israel-UK teams to use AI to help flag patients at risk for osteoporosis

Israeli startup Zebra Medical Vision and Scottish consultancy Storm ID will work with UK’s NHS Greater Glasgow and Clyde and Israel’s Assuta to develop the models

Read more here.

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HMBradley raises $18.25 million planting a flag as LA’s entrant into the challenger bank business

With $ 90 million in deposits and $ 18.25 million in new financing, HMBradley is making moves as the Los Angeles-based entrant into the challenger bank competition.

LA is home to a growing community of financial services startups, and HMBradley is quickly taking its place among the leaders with a novel twist on the banking business.

Unlike most banking startups that woo customers with easy credit and savvy online user interfaces, HMBradley is pitching a better savings account.

The company offers up to 3% interest on its savings accounts, much higher than most banks these days, and it’s that pitch that has won over consumers and investors alike, according to the company’s co-founder and chief executive, Zach Bruhnke.

With climbing numbers on the back of limited marketing, Bruhnke said raising the company’s latest round of financing was a breeze. 

“They knew after the first call that they wanted to do it,” Brunke said of the negotiations with the venture capital firm Acrew, a venture firm whose previous exposure to fintech companies included backing the challenger bank phenomenon which is Chime . “It was a very different kind of fundraise for us. Our seed round was a terrible, treacherous 16-month fundraise,” Brunke said.

For Acrew’s part, the company actually had to call Chime’s founder to ensure that the company was okay with the venture firm backing another entrant into the banking business. Once the approval was granted, Brunke said the deal was smooth sailing.

Acrew, Chime and HMBradley’s founders see enough daylight between the two business models that investing in one wouldn’t be a conflict of interest with the other. And there’s plenty of space for new entrants in the banking business, Bruhnke said. “It’s a very, very large industry as a whole,” he said.

As the company grows its deposits, Bruhnke said there will be several ways it can leverage its capital. That includes commercial lending on the back end of HMBradley’s deposits and other financial services offerings to grow its base.

For now, it’s been wooing consumers with one-click credit applications and the high interest rates it offers to its various tiers of savers.

“When customers hit that 3% tier they get really excited,” Bruhnke said. “If you’re saving money and you’re not saving to HMBradley then you’re losing money.”

The money that HMBradley raised will be used to continue rolling out its new credit product and hiring staff. It already poached the former director of engineering at Capital One, Ben Coffman, and fintech thought leader Saira Rahman, the company said. 

In October, the company said, deposits doubled month-over-month and transaction volume has grown to over $ 110 million since it launched in April. 

Since launching the company’s cash back credit card in July, HMBradley has been able to pitch customers on 3% cash back for its highest tier of savers — giving them the option to earn 3.5% on their deposits.

The deposit and lending capabilities the company offers are possible because of its partnership with the California-based Hatch Bank, the company said.

Startups – TechCrunch

Reverse Vesting Mechanism. Isn’t it a red flag??

Hello r/startups

I am curious about the legal standard in startup contracts called a reverse vesting mechanism. Why is this a norm? Why are so many founders okay with signing away such power in their venture, and doesn’t this lead to lots of founders getting kicked out of their own companies? Thanks so much!

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Startups – Rapid Growth and Innovation is in Our Very Nature!

Would income from affiliate links be a red flag to potential investors?

Launched a free app/website last year and it has done fairly well so far, I made it myself and didn't have any funding for marketing. No competitors for the main function of my service.

Several thousand regular users that have generated $ 3000-5000/mo in affiliate income over the past few months. I decided to add affiliate links as it would be easy to do, generate a small amount of revenue, and wouldn't change anything on the user side of things. The revenue from that is going towards marketing starting next month (all of it should have been going towards marketing, but I had some debt I needed to get rid of).

I was chatting with a coworker and they stated that "if your app is generating revenue from affiliate links, no investor will take you seriously." They have 0 business experience, so I'm not putting a ton of faith in their statement.

But I wanted to get other opinions. Would affiliate income be a red flag?

I didn't think affiliate income would hurt anything, and while I don't put much stock in what my coworker said, the high anxiety side of me is obsessing a bit.

Affiliate income was never intended to be the primary revenue stream for the app. Long term, I was planning for revenue to come from the user data. But I'm not large enough for that to be an option at the moment.

After a few more months of growth I was planning on bringing someone on board to help with the data analysis, and maybe this time next year try to find angel investors to help speed up growth.

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Startups – Rapid Growth and Innovation is in Our Very Nature!