Here’s why the former Global Head of Google Payment, former COO of Venmo have backed the €20M Seed round of this fintech

Remagine

Berlin-based Remagine, a finance platform for businesses, has raised €20M in its Seed round of funding. The round saw participation from diverse investors including renowned international fintech business angels such as former Global Head of Google Payment Jonathan Weiner and former COO of Venmo, Michael Vaughan.

Use of the capital

The raised funds in this round will be used by Remagine to accelerate its product development and expand its team. In addition, the funds will also be used to create a financial platform that supports and rewards businesses for being more impactful.

The German fintech has already provided over 20 revenue-based financings to startups while operating in stealth mode.

Julia Profeta Johansson, co-founder of Remagine says, “Having already provided financing to numerous companies, the funds raised will allow us to support many more startups towards more impact. With the upcoming launch of our accounts and cards, we’re excited to continue to grow the team, invest further in our products, and help create a world where money and business are forces for good.”

About Remagine

The company was founded in 2019 by Julia Profeta Johansson and Sebastian Dienst. Both serial founders and impact investing experts are guided by the belief that every business can be more sustainable and impactful without compromising growth. Their company Remagine provides a financial platform tailored to founders, which helps them to accelerate their positive social and environmental impact.

In addition to that, the platform also claims to ease the transition to a more responsible and sustainable world through its own operations – for example, Remagine has committed to a number of impact-driven initiatives, per account opening, financing and card transactions made. The startup has also pledged to contribute 10 per cent of its profits to impact causes.

Sebastian Dienst, co-founder of Remagine says, “We believe capital and technology can be forces for good. When used together, they can be powerful tools that help shape the future. The challenge now is to shape it in a way that aligns people and planet with profit. We believe that every business – big and small – can be more sustainable and impactful. Remagine has been created to help them achieve this.”

Offering product and services for a better tomorrow

Jonathan Weiner, former Head of Google Payment and investor believes, “Sustainability and impact have become increasingly relevant for businesses over the past decade and today, research shows that nearly four-fifths of CEOs are planning to align their business strategy with social and environmental goals. While startups continue to disrupt new verticals practically daily, we’re really starting to understand how the technologies they introduce have the power to guide us in a better direction. Remagine’s mission and business model enables founders to consider both their bottom line and their impact. This is the future of financing and we’re delighted to be a part of it.”

Some of its products are:

  • Team cards – unlimited separate cards for team members to improve expense management
  • Multi-IBAN – split payments across IBANs for more precise accounting
  • Analytics – an omni-channel dashboard that integrates all accounts
  • Zero negative interest – no negative interest rates are applied to any deposit amount
  • Free accounts – companies that have impact at the core of their strategy will be able to apply for a free account

What does Remagine mean for startups?

The startup claims to be a pioneer of revenue-based finance in Europe. A more founder-friendly form of financing than equity or traditional debt products, revenue-based finance allows founders to quickly secure funding while keeping full control of their business. 

The financing is available to digital businesses with more attractive terms planned for companies that score highly on Remagine’s proprietary impact assessment scale.

Remagine supports founders with between €25K to €1M in funding, without taking equity, board seats, personal guarantees or warrants. The fintech thereby enables its clients to stay in control of their business.

Startups – Silicon Canals

Google threatens to remove its search engine from Australia due to media code – Nairametrics

Google threatens to remove its search engine from Australia due to media code  Nairametrics
“nigeria startups when:7d” – Google News

AI-powered transcription service Otter.ai can now record from Google Meet

Otter.ai, the A.I.-powered voice transcription service that already integrates with Zoom for recording online meetings and webinars, is today bringing its service to Google Meet’s over 100 million users. However, in this case, Otter.ai will provide its live, interactive transcripts and video captions by way of a Chrome web browser extension.

Once installed, a “Live Notes” panel will launch directly in the Chrome web browser during Google Meet calls, where it appears on the side of the Google Meet interface. The panel can be moved around and scrolled through as the meeting is underway.

Here, users can view the live transcript of the online meeting, as it occurs. They can also adjust the text size, then save and share the audio transcripts when the meeting has wrapped.

The company says the feature helps businesses cut down on miscommunication, particularly for non-native English speakers who may have trouble understanding the spoken word. It also offers a more accessible way for engaging with live meeting content.

And because the transcriptions can be shared after the fact, people who missed the meeting can still be looped in to catch up — an increasing need in the remote-work era of the pandemic, where home and parenting responsibilities can often distract users from their daily tasks.

The transcripts themselves can also be edited after the fact by adding images and highlights, and they can be searched by keywords, as with any Otter.ai transcription.

In addition, users can access the company’s Live Captions feature that supports custom vocabulary. Otter points out that there are other live captioning options already available for Google Meet, but the difference here is that Otter’s system creates a collaborative transcript when the meeting ends. Other systems, meanwhile, tend to just offer live captions during the meeting itself.

To use the new feature, Chrome users will need to install the Otter.ai Chrome extension from the Chrome Web Store, then sign in to their Otter.ai account. The new feature is available to all Otter.ai customers, including those on Basic, Pro and Business plans.

Otter in the past leveraged its earlier Zoom integration to push more users from free plans to paid tiers and will likely do the same with the new Google Meet support. The company’s paid plans offer the ability to record more minutes per month and include a range of additional features like the ability to import audio and video for transcription, a variety of export options, advanced search features, Dropbox sync, added security measures and more.

The company has seen its business increase due to the COVID-19 pandemic and the accompanying shift to online meetings. Last April, Otter said it had transcribed over 25 million meetings, and its revenue run rate had doubled compared with the end of 2019. In 2020, Otter.ai’s revenue was up 8x over last year, the company said. It has now transcribed over 100 million meetings and 300 billion+ minutes to date.

Startups – TechCrunch

Google backs India’s Dunzo in $40 million funding round

Google is writing a check to another startup in India. The Android-maker, which last year unveiled a $ 10 billion fund to invest in the world’s second-largest internet market, said on Tuesday that it is participating in a $ 40 million investment round of hyperlocal delivery startup Dunzo, a Bangalore-based firm that it has also previously backed.

Five-year-old Dunzo said Google, Lightbox, Evolvence, Hana Financial Investment, LGT Lightstone Aspada and Alteria among others participated in its Series E financing round, which brings its to-date raise to $ 121 million.

Dunzo operates an eponymous hyper-local delivery service in nearly a dozen cities in India, including Bangalore, Delhi, Noida, Pune, Gurgaon, Powai, Hyderabad and Chennai. Users get access to a wide range of items across several categories, from grocery, perishables, pet supplies and medicines to dinner from their neighborhood stores and restaurants.

E-commerce accounts for less than 3% of all retail sales in India, according to industry estimates. Mom and pop stores and other neighborhood outlets that dot tens of thousands of cities, towns, villages and slums across the country drive most of the sales in the nation.

In a way, Dunzo is reimagining how e-commerce and delivery could be done in India, thereby posing a challenge to Amazon and Walmart-owned Flipkart, as well as local food and grocery delivery startups such as Swiggy, Zomato, BigBasket and Grofers. Several people also use Dunzo to pick up and move random items such as a laptop charger or a wallet or a lunch box from one point in the city to another.

“As merchants go digital, Dunzo is helping small businesses in their digital transformation journey in support of business recovery,” said Caesar Sengupta, VP, Google, in a statement. “Through our India Digitization Fund, we’re committed to partnering with India’s innovative startups to build a truly inclusive digital economy that will benefit everyone.”

Kabeer Biswas, chief executive and co-founder of Dunzo, said the startup has grown its annual gross merchandise value business to about $ 100 million. (GMV used to a popular metric that several e-commerce firms relied on to demonstrate their growth; however, it’s one of the meaningless ways to gauge a startup’s growth. Most firms have stopped using GMV. Additionally, when a startup speaks GMV language, traditionally it has meant they are anything but close to profitability, which happens to be true in the case of Dunzo.)

“Dunzo’s mission resonated stronger than ever in 2020. We have been amazed by everything merchants and users have started to depend on the platform for. We truly believe we are writing a playbook for how hyperlocal businesses can be built with sustainable unit economics and capital responsibility. As a team, we are more focused than ever to enable local Merchants to get closer to their Users and build one of the most loved consumer brands in the country,” Biswas said in a statement.

Google, which invested $ 4.5 billion in Jio Platforms last year, recently backed social news app DailyHunt and Glance, a part of ad giant InMobi Group that is aggressively expanding ways to populate content on Android users’ lockscreens. Google is also in talks with local social media ShareChat and may alone invest more than $ 100 million in the Indian startup, TechCrunch reported earlier this month. Talks about Google’s interest in ShareChat has previously also been reported by local media houses Economic Times and ET Now.

Startups – TechCrunch

What Happens When Google Decides Your SaaS Is Dangerous

If your startup hosts user generated content (UGC), Google Safe Browsing can mark any of your domains as dangerous out of the blue. It happened to us:

One day, with no warning, Google decided the S3 bucket that we use for attachment downloads was dangerous.

They identified one bad file, but blocked the entire subdomain.

The thing is – we power shared business inboxes for other companies and receive lots of email on their behalf, some of which is spammy/malicious.

We already:

  • strip out executable content
  • proxy tracking pixels
  • scan emails to detect bad content

But it wasn't enough. A malicious file of some kind got into our S3 bucket.

This normally shouldn't be a big deal – it will just get deleted when user marks it as spam/trash. But somehow Google detected it and decided to flag the whole S3 bucket as dangerous.

Google Search Console showed one bad file on the S3 bucket.

What's odd here is that the S3 bucket is private. The only way to download a file from there is via a signed URL (our app generates them and they're only valid for a few minutes). So I'm guessing Google verified a checksum of the file when the user downloaded it.

And the block didn't just hit Chrome. Firefox also respects Google's Safe Browsing database. 😞

We removed the bad file and submitted back to Google for review. It took them a few days to respond and remove the block. Given Google's history, I wasn't confident they would respond at all. In the mean time, we decided to put proxies in front of our S3 bucket.

We spread our attachment traffic across lots of public proxy endpoints. If any of them get into the Google Safe Browsing database, it would only affect a small percentage of attachments downloads. And we could fix by dropping the bad proxy.

We now also monitor the presence of our proxies and domains in Google's Safe Browsing database. Google has two public APIs to access this data – Google Safe Browsing API and Google Web Risk API.

Pro tip: Google has been known to take out entire domains when a malicious file is present on a single subdomain. If you're spreading things across proxies like we are, try to use major domains that are too big to take down (Heroku, Google App Engine, etc). We settled on multiple AWS API Gateway endpoints.

Dropbox does this well:

They've segregated account data by subdomain!

Takeaways:

  • UGC can be a liability
  • Where possible, serve UGC from a different domain and segregate customers across subdomains.
  • If your customers don't directly control the UGC, put a pool of proxies in front of the content serving host.
  • If it happens to you, don't wait for Google to respond.

Full story here, if you're interested.

submitted by /u/veesahni
[link] [comments]
Startups – Rapid Growth and Innovation is in Our Very Nature!

Google launches $3 mn fund to fight misinformation around Covid vaccine – ETHealthworld.com

Google launches $ 3 mn fund to fight misinformation around Covid vaccine  ETHealthworld.com
“nigeria startups when:7d” – Google News

A beginner’s guide to Google Analytics for startups

With limited resources on the one hand, and an abundance of things to do (no doubt you have a ‘wearing many hats’ team) on the other, it is necessary for startup businesses to rise to the challenge of prioritisation and organise their processes in a way that is simplified. Therefore, making sure that you have…

This content is for members only. Visit the site and log in/register to read.

The post A beginner’s guide to Google Analytics for startups first appeared on EU-Startups.

EU-Startups

Google and Snap in talks to invest in India’s ShareChat

ShareChat, an Indian social network that added Twitter as an investor in 2019, may soon receive the backing of two more American firms.

The Bangalore-based startup is in advanced stages of talks to raise money from Google and Snap, as well as several existing investors, including Twitter, three sources familiar with the matter told TechCrunch.

The new financing round — a Series E — is slated to be larger than $ 200 million, with Google alone financing more than $ 100 million of it, four sources said, requesting anonymity as the talks are private. The round values ShareChat at more than $ 1 billion, two of the sources said.

ShareChat, Google and Snap did not immediately respond to a request for comment. ShareChat has raised about $ 264 million to date and was valued at nearly $ 700 million last year.

The terms of the deal could change and the talks may not materialize into an investment, the sources cautioned. Local TV channel ET Now reported last year that Google was in talks to acquire ShareChat.

ShareChat’s marquee and eponymous app caters to users in 15 Indian languages and has a large following in small Indian cities and towns. Twitter and Snap, on the other hand, are struggling to gain users beyond urban cities in the world’s second-largest internet market. Both Twitter and Snapchat have about 50 million monthly active users in India, according to a popular mobile insight firm.

In an interview with TechCrunch last year, Ankush Sachdeva, co-founder and chief executive of ShareChat, said the app was growing “exponentially” and that users were spending, on average, more than 30 minutes on the app each day.

If the deal goes through, it would be the first investment from Snapchat’s parent company into an Indian startup. Google, on the other hand, has been on a spree of late. The Android-maker last month invested in DailyHunt and InMobi’s Glance, both of which operate short-video apps.

Like the two, ShareChat also operates a short-video app. Its app, called Moj, had amassed more than 80 million monthly active users as of September last year, the startup said at the time. Several of these short videos apps, as well as Times Internet’s MX TakaTak (operated by MX Player), have witnessed an accelerated growth in recent quarters thanks in part to New Delhi banning ByteDance’s TikTok and hundreds of other Chinese apps mid-last year.

Last year, Google announced that it plans to invest $ 10 billion in India over the course of five to seven years. Days later, the company invested $ 4.5 billion in Indian telecom giant Jio Platforms. Google and Facebook, which invested $ 5.7 billion in Jio Platforms last year, reach more than 400 million users in the country.

Google, Facebook, ShareChat, DailyHunt and Glance generate most of their revenue through ads. About 85% of the ad market in India is currently commanded by Facebook and Google, analysts at Bank of America wrote in a report to clients last year. “We estimate this market to be $ 10 billion by 2024 and see room for Facebook to increase its market-share by 4 percentage points in 4 years led by partnership with Jio. We estimate Facebook may have $ 4.7 billion revenues by 2024,” they wrote in the equity research report, obtained by TechCrunch.

Startups – TechCrunch