The COVID-19 pandemic has left many Americans in financial hardship, and with the holidays just around the corner, some individuals may consider turning to payday loans. While using payday loans and other expensive forms of credit may be tempting, doing so can lead to more serious financial problems, one startup founder explains.
“The holiday season is a busy time for short-term lenders and borrowers who feel the pinch over the holiday season especially when (it comes to) spending,” Rick Dent, founder of Pheabs, an online brokerage firm, said.
“It is better to save ahead of time or be more responsible with your finances, rather than resorting to high-cost or payday loans. These products are convenient because they make the application look simple and the turnaround is fast, with loans funded within 24 hours. But for the average person, this is a very expensive form of borrowing money at around 400 percent interest, and if you struggle to repay, the fees really start to add up.”
For many years, payday lending has only been available in a handful of U.S. states. Slowly but surely, these loans are becoming legalized in more states and are now entering the mainstream.
There are a number of startup companies that offer fast finance to consumers, but at a lower cost and with the intention to help build up your credit rating, including LendUp, which is backed by Google. More and more payday loan apps are entering the market in order to offer a solution to the debt spiral, which is suffered by millions of Americans every year.
“This is an interesting time for lending money, because some coronavirus-stricken households might be looking for extra cash, especially during the holidays,” Dan Kettle of U.S. lender Finger Finance said. “But payday loans should really just be used for one-off emergencies such as car repairs or repairing your home, and you should be able to pay them off in just a couple of weeks. They’re not a solution to long-term financial problems.”
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These psychological questions will help you better understand each other and better determine goodness of fit.
Before diving into the role women play in the European blockchain ecosystem, let me just say there is (still) some confusion between blockchain and bitcoin. I’m sure you’ve heard this before. Not sure when it started, but I’ve had several conversions around the two terms. So let’s first get that out of the way. Blockchain…
The post Meet these women driving change in the European blockchain ecosystem first appeared on EU-Startups.
COVID-19 caused the market selloff in March 2020. Many stocks on the Toronto Stock Exchange (TSX) suffered significant drops. Some investors chose to stay away while others remained because it’s also an opportunity to make money while prices are down.
Read more here.
The post [DouxMatok in Motley Fool] Got $ 2,000? Consider Buying These 2 High-Yield Dividend Stocks appeared first on OurCrowd Blog.
Deepomatic takes the first prize as one of the EIT Digital Challenge 2020 winners. The French scaleup’s visual recognition technology won them the grand prize. Other winners are Igomatrix, SwipeGuide, Targomo and Wishibam. All five winners will join the EIT Digital Accelerator.
First prize winner: Deepomatic
Deepomatic is a Paris-based offers a no-code visual automation platform to support field operations with computer vision applications. It applies its technology on industrial projects and empowers businesses with customised AI-driven computer vision applications. Last year they raised €5.5 million in a Series A round. “Our company is only five years old”, says Augustin Marty, CEO and co-founder of first prize winner Deepomatic. “Being named by EIT Digital as the best deep tech startup in Europe is really meaningful at this moment – the beginning of our scaleup stage.”
Other winners include Dutch SwipeGuide
While Deepomatic was awarded the first prize, there were other winners. SwipeGuide represented The Netherlands. The startup has developed intelligent work instructions and procedures via augmented apps. These improve productivity on the factory floor and help to get rid of papers and PDFs. Icometrix, from Belgium, also ended up as one of the EIT Digital Challenge 2020 winners. The scaleup helps to effectively quantify brain abnormalities through AI-powered imaging solution.
Targomo’s location intelligence solution to optimise retail networks, deliver better public services, and improve real estate searches was also among the winners. Targomo is based in Germany and led by ex-Google Manager Patrick Schoenemann. The final winner is Wishibam. This French scaleup enables the creation of scalable marketplaces based on real-time store inventory,
‘These are the top 5 per cent’
The five awarded companies will join the EIT Digital Accelerator, one of the most prestigious deeptech accelerators in the world. For Deepomatic, as the first prize winner, there’s also €100,000 in cash available. For Chahab Nastar, Chief Innovation Officer at EIT Digital, the challenge did not produce just one winner: “The 20 finalists were selected among 403 submissions, that is, they are the top 5 per cent.
“They are growing fast and have great potential to become European success stories”, says Nastar. “We now welcome them into the EIT Digital Accelerator and will give them dedicated pan European support for customer acquisition and fundraising. We want them to become dominant companies in their respective markets.”
Most mature, most diverse EIT Digital Challenge yet
This year marked the seventh time the EIT Digital Challenge took place, and it turned out to be the most mature and most diverse yet. With average revenues of €1.4M, average funding of €7.6M, and average staff of more than 40, EIT Digital says the 2020 laureates are the most mature prize winners in the history of the Challenge. Besides that, female founders were more present than ever. More than half of the 20 finalists and 3 out of 5 winners feature women as founders or C-level execs.
Virgin Hyperloop executives Josh Giegel and Sara Luchian traveled inside the Hyperloop test tube in what is the company’s first ever human trial. The pod reached speeds of up to 172 km/h during the trip that lasted just 15 seconds.
Read more on Mashable here.
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Every year, Deloitte acknowledges the fastest growing tech companies in the Netherlands with its Fast 50 programme. This year’s list of nominees is out now and multiple Amsterdam-based companies have made it to the list. As expected, several notable companies have made it to the list, which includes companies such as 3D Hubs, MessageBird, Otrium, Picnic, Recruitee, The Next Ad and Zivver.
While the winner of Deloitte Fast 50 will be announced on November 25th, here are some of the Amsterdam-based nominees that you need to take note of.
E-bike to go
Total funding: NA
E-Bike to go was launched in 2015. The company offers a flexible e-bike subscription for its users. Customers can simply purchase a subscription and an e-bike can be picked up, or delivered, as per their convenience. The user’s subscription starts when one receives an e-bike. The company also swaps an e-bike, in case it is defective.
Founders: Loes Daniels and Jorik Schröder
Total funding: NA
Founded in 2014, Experiencegift makes the process of gifting a lot easier. The company offers unique gift cards for notable experiences. These gift cards include hotel-gift cards, which can be used to book rooms in 200,000 hotels from 140 hotel brands. There’s also an option to gift flights, cruises, and activities.
Founders: Bas Swaen, Koen Driessen and Richard van Laak
Total funding: Bootstrapped
Started in 2012, Scribbr is an edutech platform with an aim of helping students graduate. It offers academic proofreading and editing service for students around the globe. The company offers a host of features such as proofreading and editing, plagiarism checker, citation generator and more.
Founders: Homam Karimi and Gerhard Riphagen
Total funding: €13.4M
Founded in 2010, StudyTube offers a simple way for organisations to find, book, manage and deliver their corporate training. The company offers an online learning portal called the Online Academy, which acts as a central learning environment for an entire organisation. There’s also a Learning Management System, which is an online training library and more for companies to help train and upskill their employees.
Windowsketch International BV
Founders: Floris Sanders
Total funding: NA
Founded in 2014, Windowsketch helps companies optimise revenue and maximise their reach using digital window signs in physical shops. The company uses AI and develops data driven marketing solutions to help retails perform better.
Founders: Gys Kappers, Gerhard Pretorius
Total funding: NA
Started back in 2012, Wyzetalk offers a digital employee engagement solution, which helps connect large organisations with their dispersed, frontline workforce. The platform is aimed at helping companies improve communication, increase engagement and drive business performance.
Founders: Johan Smits, Rik Wijngaard
Total funding: NA
Founded in 2014, the Amsterdam-based company Yellowgrape builds next-level e-commerce strategies for online retailers and travel companies. It deals with data, traffic and conversion optimisation for e-commerce businesses.
Deloitte Fast 50 goes virtual
This year, Deloitte is holding the 21st consecutive Technology Fast 50 programme. Like most events this year, Deloitte’s programme will also be hosted virtually. The Deloitte listing takes cognizance of the fifty fastest growing technology companies in the Netherlands. The exceptional growth performance of these companies is noted and the ranking is decided on the basis of the percentage revenue growth of a company over the past four years (2016-2019). Last year, Experiencegift bagged the first spot and prior winners list includes notable names such as The Inner Circle, SendCloud, Catawiki and Adyen.