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British fintech Nimbla attracts £5.1m investment as embedded insurance takes off

Stockwood Strategy

Fintech business insurance startup Nimbla has today announced a £5.1m funding round led by Silicon Valley venture fund Fin VC with participation from Barclays Bank. The funding comes as Nimbla seeks to scale its operations with increased demand from embedded credit risk solutions through its API with banks and alternative lending platforms. Founded in 2016, the Nimbla platform has given businesses the confidence to trade with a peace of mind using invoice insurance with quotes provided within seconds. Their proprietary digital automated credit risk platform is able to process requests immediately and provide real time quotes. Nimbla has processed over 67m invoices worth £2.5b. During the pandemic, volumes of invoices tripled as economic uncertainty and supply chain concerns increased and Nimbla continued writing new business. Flemming Bengtsen, CEO at Nimbla commented: “We have been growing steadily over the past few years, ramping up our technology and team to better understand businesses, the nature of B2B debt and to make faster decisions to serve our growing customer base. 2020 was a seminal year for Nimbla, at a time of global crisis, we were there for businesses enabling them to trade with a peace of mind and giving them confidence to carry on. This funding round will enable us to expand our platform, grow the team as we enable a confident and trusted trading environment for businesses across the UK and beyond”. Nimbla has worked directly with businesses and brokers to provide invoice insurance cover and more recently has launched a new API for Banks, fintech lenders and B2B platforms to enable more business to access the service. Nimbla partnered with Barclays Bank in 2020 to give their one million small business customers the ability to take out insurance against individual invoices, rather than the whole book. “We have built a powerful and robust credit risk model, automated large parts of the process and have now launched a new API to enable others to embed seamless credit risk solutions into their platforms” added Flemming Bengtsen. On investing in funding round Henry Cashin, Head of EMEA at Fin VC, commented: “Nimbla is giving businesses the confidence to trade again. They have a proven credit risk model and its tech is being adopted by top tier banks and a host of lending platforms. We believe this will scale their reach and help more businesses benefit long term”. Looking ahead, Flemming Bengtsen commented: “UK companies have added £1.9tn debt in 2020 to their balance sheets, taking the total amount outstanding to over £6.6tn. This number was inflated by the various government loan schemes. Over half of them are carrying ‘toxic debts’ which carries enormous risk for their trade creditors, there is a huge opportunity and responsibility for Nimbla to give companies a peace of mind and insure their invoices against insolvencies”. About Nimbla Nimbla makes sure businesses get paid for their hard work, even if a customer becomes insolvent. Founded in 2016, the company is on a mission to give SMEs the confidence to trade with a peace of mind using invoice insurance. Nimbla’s digital insurance platform backed by expert risk analysts, allows businesses to check a buyer’s ability to pay and insure individual invoices against non-payment in a fast and affordable way. This will enable business owners to safeguard against insolvent customers, expand into new and existing markets and secure better borrowing terms. The platform can be accessed directly (www.nimbla.com) and through partnerships with Barclays and insurance brokers. Based in London, Nimbla aims to bring the trade credit industry into the 21st century. Challenging traditional insurance models, the cover is flexible and adapts to fit your business — whether it’s a one-off invoice or multiple transactions. Contact Details Nimbla Bilal Mahmood +44 7714 007257 b.mahmood@stockwoodstrategy.com Company Website https://www.nimbla.com/

November 03, 2021 08:00 AM Eastern Daylight Time

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SMEs “keep calm and carry on” despite rising costs from suppliers

Stockwood Strategy

Supply chain issues and increasing costs have impacted SMEs countrywide and yet they seem to be handling it in their usual resilient stride. Fintech business lender MarketFinance asked 1,000 SME owners 1 across the UK how they are managing rising supplier prices, what measures they have put in place and sought their long term outlook on the increasing costs of doing business. Supplier costs Four out of five (79%) SMEs have faced increased prices from suppliers over the past 6 months. An increase of cost of raw materials was the top ranked rationale for price increases by suppliers, most keenly felt by businesses in the north west of England (85%). This was followed by staff shortages, the ongoing impact of the pandemic slowdown and supply chain disruptions owing to a shortage of truck drivers. Across the UK, a quarter of SMEs reported supplier prices have almost doubled over the past 6 months. Impact A third of SMEs (32%) have been able to absorb the increased costs without passing them on to customers, suggesting that these businesses have the necessary cash reserves to handle the impact. Only a fifth (21%) are passing a portion of the increased costs onto customers. Businesses in the south west of England and Northern Ireland are least likely to absorb the costs while businesses in the north west and Yorkshire are the most likely to do so. Their customers are proving to be equally understanding of the wider supply chain situation with only a fifth (20%) challenging business owners about the price rises. Outlook Looking ahead to the festive season, SMEs feel they will be able to manage the situation but some could increase prices if the pressure gets too much. Two fifths reported they could increase their prices by as much as 10% in the run up to Christmas. Longer term, three quarters (73%) of SMEs are already preparing for the current higher prices to be the norm until at least the end of 2022. A third of SMEs (34%) have taken out loans or are using other finance facilities to manage the increased cost of doing business. Anil Stocker, CEO at MarketFinance, commented: “ The current economic environment with rising costs is presenting some headwinds and headaches for SME owners but they are proving to be as resilient as ever. The vast majority have been thinking ahead and accounted for the longer term scenario, which will hold them in good stead to do business. It’s great to see that SME owners are taking the long view and preserving their customer relationships and managing suppliers by having a finance facility in place to deal with the overhead for now. The British Business Bank announced last week that it will extend its Recovery Loan Scheme to June 2022. This extension will give SMEs easier access to more affordable finance they need to continue running and growing operations in the face of ongoing challenges such as staff shortages and supplier price increases.” 1 Research findings based on a survey of 1,000 UK companies (who are employers with a minimum turnover of £100,000) conducted for MarketFinance in October 2021 by LMRMC Research (a Market Research Society approved partner and ESOMAR corporate member). About MarketFinance MarketFinance is a fintech business lender which believes that SMEs are building the world. By making finance frictionless, they’re solving the cash flow issues getting in the way of progress. MarketFinance uses smart technology to deliver better access to faster, more affordable finance; with one-to-one help whenever businesses need it. Since 2011, MarketFinance has advanced over £2.6 billion worth of invoices and loans, enabling thousands of UK businesses to bridge today’s funding gaps and fuel tomorrow’s big ambitions. MarketFinance is an accredited Recover Loan Scheme lender and has a wide-reaching network of strategic partners including Barclays Bank UK PLC, Tide, Equals Group and Ebury. MarketFinance is backed by Barclays Bank UK PLC, Mouro Capital, Paul Forster (co-founder of Indeed.com) European venture capital fund Northzone (invested in Klarna, iZettle and Trustpilot), Viola Capital and private equity group MCI Capital (also invested in iZettle, Azimo and Gett). Contact Details MarketFinance Bilal Mahmood +44 7714 007257 b.mahmood@stockwoodstrategy.com Company Website https://marketfinance.com/

November 02, 2021 10:00 AM Eastern Daylight Time

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ENEOS AT THE 2021 SEMA SHOW

ENEOS

ENEOS — Japan’s largest oil company, and supplier of motor oil and transmission fluids to the majority of Asian vehicle manufacturers — is returning to the annual SEMA Show in Las Vegas this week to meet and interact with automotive enthusiasts and customers. The lubricant specialist will be located in booth # 21203 at the front of Central Hall. Attendees will be able to explore a reimagined booth, which features a distinctive ENEOS road map aimed at highlighting the company’s core strengths. It includes an area dedicated to the company's crucial OEM relationships, which have allowed ENEOS to share its latest technology with the world’s car makers. The company is the leading expert in synthetic oil formulation, creating some of the thinnest, most efficient lubricants for the very latest gasoline and hybrid engines as well as their transmissions and differentials. As part of its expanding OEM relationships, ENEOS has created a new EV Fluid Line, which is designed to help increase the efficiency and durability of current and future electric vehicle components. And like its conventional motor and transmission oils, which are available to retail customers, the EV Fluid Line will initially be available to car makers as part of its OE Fill Program, with an aftermarket line in development. Full details about the EV Fluid Line are available from the ENEOS SEMA booth or at eneos.us The remaining stops on the ENEOS road map are at Performance and Transmission stations. These focus on the wide range of lubricants dedicated to the majority of current and older vehicles. Of particular interest is the ENEOS Racing Series motor oils, which are designed for use by weekend track day enthusiasts or dedicated racers. The Racing Street Series is engineered to work with emissions equipment and ensures extended high-temperature running, superior protection at initial start-up, and greater performance thanks to significantly reduced friction; benefits that have been proven to improve horsepower when used against its competitors. ENEOS Racing Pro Series oils are designed for dedicated race cars that do not require emissions equipment. The formulation provides the same protection as the Street series but at higher temperatures and for extended track sessions, ensuring maximum protection for the racing community. ENEOS also produces OE-quality lubricants for all transmission types, including automatic and CVT, thanks to its extensive OE partnerships. ENEOS carries two transmission product lines: ENEOS IMPORT SERIES for exact transmission specifications; and ENEOS ECO Series for extremely broad coverage of automatic and CVT transmissions in market today. For more information about the full ENEOS product lines, please visit eneos.us FORMULA DRIFT Thank you, Dai – Hello Fredric! ENEOS has been a sponsoring partner of Formula DRIFT and competing teams for many years. The company currently supports 2011 FD Champion Dai Yoshihara in the PRO Championship, and Rich Whiteman in the PROSPEC class. However, after competing at the highest level for more than 18 years, Dai is retiring from the series to focus on other motorsports activities. While we’re extremely sad to see Dai leave Formula DRIFT, ENEOS is planning to continue supporting Dai as he embarks on new projects. And we can exclusively announce that ENEOS will partner with the newly crowned Formula DRIFT Champion, Fredric Aasbo and Papadakis Racing for the 2022 season. This is extremely exciting for ENEOS because the company works closely with Toyota at the engineering and development level, and its synthetic lubricants will be the perfect addition to Fredric’s Rockstar Energy Toyota GR Supra. "At Papadakis Racing, we're fortunate to work with top tier companies in the automotive industry," said Papadakis Racing team owner Stephan Papadakis. “ We first put ENEOS to the test with our NASCAR-engined Scion tC and already know it’s a great product line. With that knowledge, we’re excited to bring ENEOS on board for our 1000hp Rockstar Energy Toyota GR Supra in Formula DRIFT next year.” ENEOS will work closely with Papadakis Racing over the winter and looks forward to Fredric’s defense of his Championship title throughout the 2022 season of the Formula DRIFT PRO series. HONDA-POWERED BMW Star of the ENEOS SEMA booth # 20213 is a 1985 BMW 318i built by Formula DRIFT PRO driver and owner of DevSpeed Motorsports, Faruk Kugay. To help make the vehicle unique, Faruk undertook an engine swap using the 2.0L four-cylinder engine from the Honda S2000. Codenamed F20C, the potent VTEC engine develops 240hp without requiring forced induction. The purpose of the swap was to provide the BMW with a more powerful yet lightweight engine that compares favorably to even the E30 M3’s 2.3L 16v engine. For this application, DevSpeed resisted the temptation to fit aftermarket tuning equipment, preferring instead to create a CARB-legal conversion that will provide a healthy performance increase without running into emissions problems As such, the engine is equipped with a CARB-legal AEM air intake and Borla Performance stainless steel exhaust system fitted after the BMW’s catalytic converter. Among the other upgrades to accommodate the swap is a custom wiring harness, tucked radiator, aluminum mounts and new installation hardware. The F20C is lubricated by ENEOS Racing Street 0W-50 motor oil to provide the optimum combination of wear protection and performance. Further highlights of the ENEOS BMW 318i F20C include the S2000’s six-speed transmission with a BMW limited-slip differential to aid traction when Faruk utilizes the car for track days and drift events. Both these drivetrain elements are lubricated by ENEOS oils. To improve mechanical grip, DevSpeed chose the Pandem V1.5 widebody kit. Designed and manufactured in Japan, it continues the JDM theme for this DTM classic. The wider Pandem fenders accommodate sticky Toyo Proxes RA1 tires, which are sized 255/40 front and 275/40 ZR17 rear. This is a significant increase over the stock E30. The Toyo Tires are mounted on motorsport-themed 17” Rotiform IGS wheels, which are a generous 9.5” wide at the front and 11” rear. Suspension is controlled by multi-adjustable KW Variant 3 coilovers, and the 36 year-old E30 bodyshell is reinforced with Garagistic components and a custom Devspeed four-point internal roll bar to deal with the increased cornering forces. Braking power has been considerably improved with equipment from the later E36 M3, including its larger front calipers and rotors thanks to specialized adapters. In addition to the widebody fender conversion, the ENEOS BMW 318i F20C also has the distinctive rear window, raised trunk lid and Evo II rear wing of the E30 M3, which helped to both improve airflow and increase downforce. There is also a carbon fiber roof panel, which allowed DevSpeed to delete the stock sunroof and lower the center of gravity. Inside, there are MOMO racing seats, steering wheel and shift knob as well as a motorsport-style dashboard and seat delete panels, adding to the weight reduction measures. As we mentioned, DevSpeed Motorsports will utilize the ENEOS BMW 318i F20C for track days and drift events, and Faruk will be able to drive the car legally on the street in California once it passes inspection after the SEMA Show. TECH SPEC 1985 BMW 318i with Honda S2000 F20C engine swap ENEOS BMW 318i F20C Engine: 2001 Honda S2000 F20C 2.0L four-cylinder 16v VTEC with CARB-legal AEM intake, Borla Performance stainless steel Type S cat-back exhaust, MPC hardware, Ryno Wiring mil-spec harness, ENEOS Racing Street 0W-50 motor oil, Chase Bays tucked radiator, Garagistic aluminum mounts Power: 240hp at 8300rpm / 153 lb-ft at 7500rpm Transmission: Honda S2000 six-speed transmission, Exedy clutch, 3.73:1 BMW limited-slip differential, ENEOS 75W-90 gear oil, custom driveshaft, Garagistic secondary diff mount, diff stud kit, aluminum transmission mounts, and front subframe spacers Suspension/Chassis: KW Variant 3 coilovers with adjustable compression and rebound, E30 M3 front spindles, E36 318Ti rear trailing arms with Garagistic reinforcement, Garagistic chassis and subframe reinforcements, Delrin bushings, power steering delete and camber/castor modification, four-point custom roll bar, E30 325i Convertible front shock tower reinforcement Braking: E36 M3 front brake conversion with custom brake hat adapters, E36 M3 rear brakes with SRS caliper adapters, Chase Bays dual master 6:1 boosterless conversion and stainless steel lines throughout Wheels & Tires: Rotiform IGS 17x9.5” front, 17x11” rear wheels finished in anthracite, 255/40 R17 front, 275/40 R17 rear Toyo Proxes RA1 tires Exterior: 6666 Customs / TRA Kyoto Pandem V1.5 widebody fenders, front spoiler, rear bumper, side skirts, CATuned E30 M3 Evo II rear wing, carbon fiber roof and front grilles, E30Garage Norway M3-style steel C-pillar conversion, E30 M3 trunk lid, Glass-On-The-Go E30 M3 rear glass, Frenchie Smiley headlights, @E30taillights, MPC hardware Interior: MOMO front seats, harnesses, steering wheel and shift knob, custom dashboard with Landmark Grafix 3M anti-glare wrap, rear seat delete panels Thanks / Sponsors: ENEOS, DevSpeed Motorsports, AEM, Borla Performance, CATuned, Chase Bays, Diverse Motorsports, Exedy, Foreign Parts Specialties, Garagistic, GReddy, Hanson Distributing Company, KW Suspension, Landmark Grafix, MOMO, MPC Motorsport, Rotiform, Ryno Wiring Solutions, Toyo Tires, @E30taillights HONDA ACTY Sticking with the JDM theme, ENEOS will also display a very unusual Honda Acty pickup built by Neil Tjin from Tjin Edition. The Kei truck was imported from Japan and has been put into service as a stylish delivery vehicle carrying ENEOS oil products and a distinctive SUPER73-ZX e-bike, which was customized to match the van. The many features and highlights of the Tjin Edition Honda Acty include the following: Mag factory wing, front bumper and fender flares FLP metal rear wing and custom side panels Seafoam green paint 13” Enjoy wheels painted yellow Custom upholstered Status seats and steering wheel Custom LED headlights, Rigid fog lights, reversing lights and third brake light Custom oil pan for mid-mounted three-cylinder 660cc liquid-cooled engine Rear-wheel drive Custom SUPER73-ZX e-bike with matching Seafoam green frame, yellow wheels and seat cover This small, maneuverable, economical Acty pickup is the ideal runaround for busy cities like Tokyo and Los Angeles. Its peppy three-cylinder engine makes light work of city streets and avoids the gas pump for as long as possible. The engine is mid-mounted to provide ample legroom for the occupants. Painted in a distinctive Seafoam green paint with contrasting 13” yellow Enjoy wheels and Status racing seats, the Tjin Edition Honda Acty will put a smile on your face every time you see it. Once the driver arrives at his destination, he's able to unload the custom SUPER73-ZX e-bike from the cargo bed. Painted in the same Seafoam green with yellow highlights to match the Acty's interior, the ZX was launched a few months ago to rave reviews. The e-bike features a lightweight aluminum frame and a removable battery that can provide an estimated 50 miles of range (depending on conditions). The ZX also features four riding modes and can be set to four riding classes to comply with local bylaws, all through the SUPER73 smart phone app. TESLA MODEL 3 PIKES PEAK In addition to sponsoring Dai Yoshihara’s Formula DRIFT season, ENEOS has been a long-time supporter of his Pikes Peak attempts, which culminated in a 2020 Unlimited Class win. For 2021, ENEOS and Dai again partnered with Evasive Motorsports to return to the annual Pikes Peak International Hill Climb (PPIHC). However, the Toyota 86 they had built and prepared for previous years was replaced by a brand new project: the Turn 14 Distribution / Toyo Tires / ENEOS / Evasive Motorsports Tesla Model 3 Pikes Peak race car. With ENEOS announcing its new line of six dedicated EV fluids, the combination of Dai, Evasive, and a new Tesla race car was a tantalizing prospect. However, despite numerous pre-event test sessions, the car suffered an electrical problem as it left the starting line. Undeterred, all parties plan to return to the PPIHC in 2022 to make another attempt to set an EV Production Car track record time in the Exhibition Class. Full details on the car can be found here: eneos.us/blog/eneos-returns-to-pikes-peak-with-dai-yoshihara-evasive-motorsports-and-a-tesla-model-3/ The Turn 14 Distribution / Toyo Tires / ENEOS / Evasive Motorsports Tesla Model 3 Pikes Peak car will be exhibited at SEMA 2021 by Turn 14 Distribution in booth # 21503 in Central Hall. EDITOR’S NOTE High-resolution images of the DevSpeed / ENEOS BMW 318i F20C, Tjin Edition Honda Acty and SUPER73-ZX can be found here for editorial use: dropbox.com/sh/igyyszt4ur61zfi/AABvsPTiRVIIIUTS8F3trQGKa?dl=0 Images of the Turn 14 Distribution / Toyo Tires / ENEOS / Evasive Motorsports Tesla Model 3 Pikes Peak are available here for editorial use: dropbox.com/sh/dkqgsmrz03p6bjo/AACyd_-aCEz7l4P5-2AsUDjna?dl=0 FOLLOW ENEOS USA facebook.com/ENEOSUSA instagram.com/ENEOSUSA twitter.com/ENEOSUSA youtube.com/ENEOSUSA eneos.us MEDIA CONTACT Satomi Yamashita ( media@eneos.us ) Greg Emmerson ( greg@theidagency.com ) ABOUT ENEOS Established in 1888 and headquartered in Tokyo, ENEOS is Japan’s largest oil company, with manufacturing and sales facilities throughout the world. With a unique position in its home market, ENEOS has worked with Asia’s automakers and leading race teams for decades, creating advanced lubricants with their vehicle engineers to provide optimum fuel economy with maximum power and long-term protection. ENEOS also recently announced a new line of products for future electric vehicle applications, helping to ensure the newest EV technology is operating as efficiently as possible. For more information, please visit eneos.us Contact Details Satomi Yamashita media@eneos.us Company Website https://www.eneos.us

November 02, 2021 05:55 AM Pacific Daylight Time

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Global luxury electric-vehicle manufacturer set to shake up the market

Trouvé Victory Inc.

Trouvé Victory Inc. is bringing the next generation of fully electric vehicles to the global automotive marketplace with delivery starting in 2023. Trouvé-EV vehicles will include an 18-minute quick charge capability and an overnight full charge in 4 hours, which will allow you an 800-1,000 km or 500-700 mile driving range on a single charge. The high-performance vehicles outperform the traditional cars of today -- ALL with zero emissions. “Electric vehicles are quieter, cleaner and more efficient to run than fossil fueled vehicles.” Explains Faruk K. Rama, Trouvé Chairman. “They are the answer to building a better, cleaner world for our children. In order for us to see a true global shift to electric vehicles and their benefits, we need more options for high performing, zero emissions vehicles in the market. The Trouvé-EV is the answer." Trouvé – EV will unveil 3 – model designs in the near future all with designs that are powered by high performance electric technology and are engineered to be recyclable and designed with the Trouvé-EV Regenerative Energy System, harnessing the power of the elements, wind, motion and the sun. This provides extra mileage between charges and a lower operating cost regardless of driving conditions. Trouvé is planning on manufacturing facilities located in Southern Ontario Canada, USA, UK, Oman and EU and as more divisions open up, they will employ tens of thousands of people interested in transitioning to a new career in the electric vehicle industry. All the vehicle bodies are made with natural fibers making them the first fully recyclable electric vehicles. This is in keeping with the goal to create production facilities and vehicles that are environmentally friendly. The Trouvé-EV’s corporate DNA is based on the reduction of pollution to help support environmental sustainability. In addition to the positive economic impact production facilities will have in the communities they operate, Trouvé is also committed to education, working with some of the best Educational Institutions. “We are developing co-op and intern programs to provide students with hands-on learning experiences, leading to possible future employment with Trouvé-EV. These educated, enthusiastic young people will help our company become a world leader.” Comments Trouvé CFO, Peter Fredricks Monchuk. Trouvé is accepting Pre-order sales on their website. www.trouveev.com. Trouvé Victory Inc. welcomes investment enquiries. Sign up for the e-newsletter on the website to keep in the know of Trouve’s developments. -30- For media enquiries or interviews contact: MarySue Furtney enquiries@msmarketing.ca Chairman: Faruk K. Rama chairman@trouveev.com CFO: Peter Fredricks Monchuk peterfm@trouveev.com UK: David MacKinnon david.m@zlx.co.uk Oman: Sultan Al Amri Info@trouveev.com About Trouvé Victory Inc. Trouvé means in English, To Find. Trouvé Victory Inc. is focused on creating an innovative, environmentally friendly fully electric vehicle. Trouvé Victory Inc. assembly and manufacturing will take place in Southern Ontario, Canada USA, UK, Oman and the EU. The manufacturing facility will be carbon neutral, with a solar powered roof, and a state-of-the art robotic assembly line. Trouvé prioritizes working with some of the best Universities, to develop co-op and intern programs which will provide students with hands-on learning experience, leading to possible future employment with Trouvé-EV. These educated, enthusiastic young people will help our company become a world leader. The goal is to make Trouvé Victory Inc., not only the electric vehicle of choice but the employer of choice. Contact Details MarySue Furtney enquiries@msmarketing.ca

November 02, 2021 08:00 AM Eastern Daylight Time

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Greenland’s Prime Minister to Keynote ZESTAs COP26 Burns Supper

Morgan Marketing & Communications

Prime Minister of Greenland, Múte Bourup Egede, will be delivering the keynote address at ZESTAs COP26 Burns Supper on Monday, November 1 st hosted by SHIFT clean energy. The supper will conclude the first day of Ship ZERO hosted by ZESTAs (Zero Emissions Ship Technology Association) in Glasgow as part of the COP26 activities. It is expected that the Prime Minister will be announcing a major Greenland government initiative relating to fossil fuel use. "With the Arctic warming at a rate three times faster than the rest of the world, we are in Greenland experiencing the drastic changes first-hand “stated the Prime Minister. “The science is alarming and our collective actions must be accelerated. That is why the Government of Greenland has announced an immediate halt to all new oil and gas explorations and are putting all efforts into developing our green energy sources. We believe that Greenland can become an important partner for zero-emission shipping. We have huge untapped hydropower resources that exceed our domestic demand multiple times, which can generate cheap renewable electricity for e-fuels, and we have an infrastructure well suited for being early adapters." “Ship ZERO 0 – Charging to True Zero” is a three-day workshop including robust technical presentations from zero-emissions solutions providers, as well as finance, insurance, classification sectors and regulators. Speakers’ panels, audience Q&A, and brainstorming sessions will follow each session to facilitate collaborative solution building, as well as giving stakeholders an opportunity to examine how solutions will fit with their individual business cases. The event takes place well before COP26 transport day, which will give the team of researchers and stakeholders time to summarize the outcomes to be taken in consideration by regulators beforehand. “We are honored that Prime Minister Egede will be making such a pivotal keynote address as part of our event”, stated Madadh MacLaine, Secretary-General of ZESTAs. “His leadership will resonate around the globe as we address a zero emission future.” Highlights of the ShipZERO conference include a keynote by Peter Thomson, Ambassador and Permanent Representative of Fiji to the United Nations as well as the UNSG’s Special Envoy for the Ocean on A healthy planet requires a healthy ocean, a healthy ocean requires clean shipping; Why Zero Emissions Needs Better Battery Safety Standards, delivered by Brent Perry, ZESTAs Board Chair and CEO of SHIFT; and How Financiers, Insurers and Cargo owners can enable innovation and accelerate the transition to true zero emissions from Michael Parker, Chairman of Global Shipping, Citibank and Chairman of the Poseidon Principles Association. Registration is still open, and media are welcome. Go to https://zestas.org/ship-zero/ The Zero Emissions Ship Technology Association promotes the rapid and large-scale uptake of Zero Emissions Ship Technology (ZEST). Zero emissions means zero GHG emissions at the point of use on the vessel with minimal upstream impacts. By combining zero emission technologies, it is possible to achieve zero emissions at the shipboard level faster. With today’s technologies, the shipping industry can achieve fully zero emissions now, particularly on smaller return to base vessels, as well as drastically reduce emissions on larger, ocean-going vessels with more complicated operational profiles. Contact Details Morgan Marketing & Communications Carleen Lyden Walker +1 203-260-0480 c.walker@morganmarketcomm.com Company Website https://morganmarketcomm.com/

October 29, 2021 01:00 PM Eastern Daylight Time

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BitX Funding Connecting Clients with the Right Lender and Right Loan!

BitX Funding

Fairfield, CT., Oct 27, 2021—BitX Funding is the premier lender for your business needs. All the specialized loans you can hope for, from startup to short term, can be secured through a quick application process. Founder Todd Rowe has a 20-year history of service in the financial sector and shows no signs of slowing down. “We’re coming out of the pandemic and business owners are starting to open up. They’re starting to have a need for liquidity to take on new opportunities,” says Rowe. “BitX Funding is the perfect answer to their problems because we have all the right lenders and all the rights loans to make the connection.” Rowe knows BitX Funding can serve those niche industries with the upmost care and attention. He has seen it firsthand. A perfect example of this is the transportation industry. “Trucking and transportation is hot right now. The Port of California is backed up, and they need truckers to come in and move products around the U.S. We’re here to get them the equipment financing they need to get their business started,” says Rowe. Small business owners are often intimidated by the amount of options out there. FinTech’s and alternative lenders relieve the pressure from having to call up a bank, waiting months to hear back. You are guaranteed to get an answer within days. The focus is on you: the human on the other line. That’s the BitX Funding difference. We connect you with the right lender and the right loan. BitX Funding is an omnichannel marketplace for small business loans and business insurance. BitX connects its clients with the right loan and lender from SBA 7a, start-up loans, short-term loans, mid-term loans to merchant cash advances, and business lines of credit. BitX is where lenders compete for your business. Our top-rated lenders focus on real-life business data and cash flow, which means you can qualify for small business loans even if your credit score isn’t perfect. We care about small businesses and it’s our mission to secure the right funding when you need alternative small business loans within our small business loan marketplace. Contact Details BitX Funding L.L.C Todd Rowe +1 203-763-1430 info@bitxfunding.com Company Website https://www.bitxfunding.com

October 28, 2021 11:05 AM Eastern Daylight Time

British cyber security startup Risk Ledger secures £2.1m funding as supply chains hit the headlines

Risk Ledger

British cyber security company Risk Ledger has today raised £2.1 million in seed funding. The funding round was led by Finnish VC Lifeline Ventures with participation from Seedcamp, firstminute Capital, Episode 1 and Village Global. This news comes hot on the heels of a flurry of new customers including NHS Test and Trace, wealth management giant Quilter, and tech unicorn Snyk. The Risk Ledger platform is a first of a kind global network of connected organisations, all working together to defend as one against cyber attacks. This game changing approach makes the platform ideal for almost any organisation trying to identify, measure and mitigate supply chain risks regardless of industry. Supply chain cyber breaches often result in personal data such as payment details, addresses and medical records being accessed by unauthorised third parties. Major supply chain cyber security breaches in 2021 at Accellion, Solarwinds and Microsoft have put the challenge of defending against supply chain breaches at the top of the agenda for every large organisation globally. Haydn Brooks, founder and CEO at Risk Ledge r commented: “The past 18 months have been a period of rapid growth in the company. We grew our client base and our user numbers have sky-rocketed despite the significant economic disruption caused by the pandemic. We have expanded the product into non-cyber security factors, including ESG and financial supply chain risks. Testament to the wider scope of the platform, we are now engaging procurement leaders in companies as well as their information security counterparts. This investment will help us grow our team and operations to fully capitalise on the heightened focus on supply chain security driven by all the new regulations and high-profile breaches.” Risk Ledger's client base includes a wide range of organisations including NHS Test & Trace, BAE Systems Applied Intelligence, City of London Police, Schroders Personal Wealth and ASOS among others. Recently, the Risk Ledger platform was able to help the NHS Test & Trace team identify complex vulnerabilities in multiple interdependent suppliers that provide key reagents to the organisation. These systemic risks within supply chains often go undiscovered and in this case could have caused weeks of disruption to the UK’s ongoing COVID-19 response in the event of a cybersecurity incident. Petteri Koponen, founding partner at Lifeline Ventures said: “We wanted to be part of Risk Ledger’s growth journey because they have the right product at the right time. With supply chain breaches becoming mainstream and regulators globally mandating better management of the risks, the Risk Ledger platform is in a fantastic position to become the industry agnostic tool of choice and penetrate the market extensively. The potential for the platform to proliferate virally is also unique. Capturing 30% of the UK water market in just over a year shows this possibility which is exciting for us.” Risk Ledger is a rising star of the UK's growing cyber security industry having won competitions run by the UK Government's National Cyber Security Centre, the tech industry body TechUK and most recently a winner in the Department for Digital, Culture, Media, and Sport’s ‘Most Innovative UK Cyber SME of the Year’ competition. The company is also a member of the UK Government backed LORCA programme (London Office of Rapid Cybersecurity Advancement). About Risk Ledger Risk Ledger is a British company that manages cyber security risks in supply chains. The process of supply chain security risk management ensures third parties who deliver critical services, have access to data, corporate networks, or any other status of business trust, maintain a good base level of cyber security controls to prevent bad actors using the third party as an attack vector. Risk Ledger's client base includes organisations like BAE AI, City of London Police, Telenor, Schroders Personal Wealth and ASOS. Risk Ledger is a rising star of the UK's growing cyber security industry having won competitions run by the UK Government's National Cyber Security Centre, the tech industry body TechUK and most recently a winner in the Department for Digital, Culture, Media, and Sport’s ‘Most Innovative UK Cyber SME of the Year’ competition. The company is also a member of the UK Government backed LORCA programme (London Office of Rapid Cybersecurity Advancement). Contact Details Risk Ledger Bilal Mahmood +44 7714 007257 b.mahmood@stockwoodstrategy.com Company Website https://riskledger.com/

October 28, 2021 08:00 AM Eastern Daylight Time

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Cyvatar Named Finalist in Computing Security Excellence Awards 2021

Cyvatar

Cyvatar today announced that it has been chosen as a finalist in Computing’s Security Excellence Awards 2021 for the Small and Medium Enterprise (SME) Security Solution Award. Computing celebrates the achievements of the IT industry's leading security companies, solutions, products, and personalities that keep every other part of the industry operating. Award categories include product- and project-related recognition, organizational achievements, and accolades for outstanding individual success. Computing selected Cyvatar for its cybersecurity-as-a-service (CSaaS) platform, designed with SMEs in mind. SMEs are increasingly at the mercy of ransomware attacks, phishing scams, and other cyber threats, but unlike larger orgs, most SMEs don’t have the budget or expertise to invest in comprehensive in-house security programs. Moreover, they struggle to show value from the security tools they do buy. Cyvatar CSaaS democratizes cybersecurity, making the best protection accessible and affordable for any SME regardless of budget, even if they have no cybersecurity expertise in-house. Customers can select the membership and pricing that meet their desired business outcomes in seconds; a freemium model ensures they can achieve tangible results fast with no out-of-pocket costs--an industry first. And they can cancel anytime--another industry first. “We don’t throw technology over the wall and expect our customers to figure it out themselves the way many product companies do,” said Corey White, Cyvatar co-founder and chief executive. “We deliver all three pillars of cybersecurity—the teams, technology solutions, and best practices—to SMEs that would not otherwise be able to implement them. Our subscription model ensures they don’t end up buying solutions they can’t use or don’t need, and our platform lets them see at a glance what’s going on in their environment to give them the best cyber prevention available.” Cyvatar offers its proprietary ICARM™ (install, configure, assess, remediate, maintain) methodology to deliver smarter, more efficient solutions, allowing SMEs to achieve security compliance and cyber-attack prevention faster and more effectively. ICARM ensures SMEs won’t get crushed under the weight of too many products, and guaranteed outcomes mean they get maximum value from their technology spend. Choose the Cyvatar membership with the best outcomes for your business today. About Cyvatar Cyvatar is committed to effortless cybersecurity for everyone. As the industry’s first subscription-based, cybersecurity-as-a-service (CSaaS) company, it’s our mission to transform the way the security industry builds, sells, and supports cyber solutions. We empower our members to achieve successful outcomes by providing expert practitioners, market-leading technologies, and proven best practices to guarantee business results. Our approach is rooted in a proprietary ICARM (installation, configuration, assessment, remediation, maintenance) methodology that delivers measurable security solutions for superior compliance and cyber-attack prevention, all bundled into a fixed monthly subscription that members can cancel anytime. Cyvatar is headquartered in Irvine, California, with locations around the world. Begin your journey to security confidence at cyvatar.ai and follow us on LinkedIn and Twitter. Contact Details Cyvatar Dan Chmielewski +1 949-231-2963 dchm@madisonalexanderpr.com Company Website https://cyvatar.ai/

October 28, 2021 08:00 AM Eastern Daylight Time

VavaCars raises $50 million in Series B to build presence in Turkey and Pakistan

VavaCars

ISTANBUL, TURKEY - G MEDYA - 26 October 2021 - VavaCars, a Turkey-based online trading platform for buying and selling used cars has raised $50 million to expand its operations in Turkey and Pakistan. Duquesne Family Office LLC ( founded by Stanley F. Druckenmiller), founding investor, Vitol, plus one other new investor participated in the round. Since VavaCars’ launch in April 2019 in Turkey, where it operates in close partnership with the leading fuel retailer, Petrol Ofisi, the Company has traded more than 10,000 cars, and has grown to 300 employees. The Company has been growing GMV by an average of 30 percent month-on-month serving the wholesale and retail market with the very best selection of consumer sourced cars. VavaCars aims to bring trust, transparency, and convenience to the pre-owned car market. Customers can sell their cars instantly for cash by using VavaCars online valuation tool combined with a physical inspection at one of its Customer Centres, typically located on a Petrol Ofisi forecourt in Turkey. VavaCars recently launched its direct-to-consumer offering to complement its high frequency online auction sales to dealers, where consumers can buy cars fully online without ever setting foot in a dealership; every car is fully inspected, reconditioned and delivered to the consumer’s home for free. Consumers benefit from a 14-day money-back guarantee and a 3-month warranty, for complete peace of mind. VavaCars is reinventing the car buying experience, and the new funds will be used to accelerate the buildout of VavaCars’ technology platform, physical infrastructure and brand. In the future, VavaCars intends to expand into new markets leveraging the fuel station networks of its founding investor, Vitol. Lawrence Merritt, CEO & Co-founder: ”We intend to build the world’s most trusted used car trading platform and to make it easy for anyone to buy or sell a car without the worry. This funding round allows us to keep disrupting, keep inventing and keep simplifying on behalf of our customers. In the two and half years since launch we’ve become the number one trader of consumer sourced cars in Turkey accounting for 90% of all fully online sales. This demonstrates the power of our model and the huge market opportunity.” Contact Details VavaCars Gaye KARAKAS gaye@diyalogmedya.com.tr

October 26, 2021 10:00 AM Eastern Daylight Time

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VavaCars raises $50 million in Series B to build presence in Turkey and Pakistan