Tag: Fintech

razorpay-trusts-purple-quarter-to-onboard-ex-amazon-techie-as-the-cto

Razorpay Trusts Purple Quarter to Onboard Ex-Amazon Techie as the CTO

June 29, 2022 Published by

 

India’s Preferred Payments and Banking Platform for Businesses, Razorpay, appointed Murali Brahmadesam as the Chief Technology Officer, backed by bespoke CTO search firm, Purple Quarter‘s integrated leadership search.

Co-founded in 2014 by Harshil Mathur and Shashank Kumar, Razorpay has grown from being a payment gateway provider to a leading full-stack financial services company with an extensive product suite for businesses to manage their financial infrastructure. To further expand its technological capabilities across geographies, Razorpay partnered with Purple Quarter for its CTO mandate, seeking a leader to further drive the stellar growth of Razorpay Engineering.

Roopa Kumar, Founder & CEO of Purple Quarter, shared, “As the leading payment gateway, Razorpay has done a commendable job in building a trusted and reliable technology product in such a short span of time. It was only natural that we identify a leader who was capable of handling 10X of the current data size and swiftness. This far-sighted and in-depth technical understanding could only come from someone associated with AWS or the likes of it. Razorpay needed someone who has managed big teams, has been deeply connected with tech and is aligned with the business objective – a true CTO, a tech visionary. Murali Brahmadesam is the perfect match for the tech leader mandate. Thank you, Shashank, and Harshil for entrusting Purple Quarter; I wish the Razorpay team and Murali a successful partnership.”

Shashank Kumar, Co-founder, Razorpay, shared on the appointment, “Driven by our 800+ member strong engineering team, we at Razorpay are solving some of the most critical challenges faced by businesses today. Being one of the most coveted tech talent pools known to build many distinct and industry-defining fintech products, we were seeking a seasoned professional who can not only lead them effectively through growth and expansion but also be a natural fit in our organizational culture. I am excited to have Murali on board at a time when Razorpay is making strides into global markets and further deepening its expertise with all things business payments and business banking. A special thanks to the Purple Quarter team for being an exceptional search partner and identifying the right leader for us.”

Purple Quarter and Razorpay devised a custom plan to understand, map, and locate the ideal technology leader for this crucial mandate. It was imperative to have someone with a diverse portfolio and in-depth knowledge of the technical landscape. Murali Brahmadesam was found to be the right fit for Razorpay’s culture and expanding team. With over 20 years of technical experience, the Ex-Amazon techie has worked across multiple products and domains.

“I am delighted to take on the CTO role at Razorpay and thank Purple Quarter for facilitating this excellent opportunity. Razorpay’s mission of building real-time, intelligent technology solutions to make businesses more efficient is something I resonate with. As the Chief Technology Officer, I will work towards further strengthening the product portfolio and aligning our larger innovation strategy with business goals. I appreciate team Purple Quarter’s support and thoughtful approach throughout the process,” commented Murali Brahmadesam on his appointment.

Purple Quarters’ unmatched tech network, extensive talent pool, and comprehensive end-to-end search process have been instrumental in securing multiple key tech heads for the likes of BigBasket, Licious, PharmEasy, Upstox, Urban Company, Vedantu, Acko, Pratilipi, Rupeek and more.

sia-partners-and-finastra-name-winners-of-student-competition

Sia Partners and Finastra name winners of student competition

June 28, 2022 Published by

 

At a flagship award ceremony, Finastra, Sia Partners, Google Cloud, HSBC Continental Europe, Pépite France and Manaos announced the winners of the Finance and Innovation for Good competition. The initiative invited entrepreneurial students in France to tackle a major challenge around finance for good. Over the past six months, the partners have supported students with their projects from ideation to development.

The overall winners are…

1st place: Sumpler, a solution that facilitates digital receipts at the point of sale, bringing all the data into one place on the banking app.

2nd place: Yam, a digital banking app focused on improving financial inclusion in Africa, including the illiterate population, with some unique digital accessibility innovations.

3rd place: Aphaïa, an equity crowdfunding platform focused on supporting natural capital projects in emerging countries.

The winners of the special project prizes are…

  • Best technical achievement: Eira, an impact investment app focused on generating good financial returns while having a positive impact on the planet.
  • Fastest go-to-market solution: Tetard Capital, a social media platform enabling startups to access funding by connecting them with Gen Z investors.
  • Best social impact innovation: Studlend, a solution which helps US-based students fund their education by connecting them with investors in Europe.
  • Best education innovation: Diwali, a solution which provides financial education for youth, with a focus on Environmental, Social and Governance (ESG) investing and green finance.
  • Best socioeconomic impact: Raivel, a platform which connects social economy organizations with banks and other fundraising solutions.
  • Best financial expertise: Greenvest, an ESG investment platform which includes social features such as voting.

The three winners were rewarded with prizes from the partners of 7000€, 5000€ and 3000€, while the special project winners received prizes worth 1000€.

Thomas Rocafull, Partner at SIA Partners said, “The competition provided students with an opportunity to tackle important issues and learn about real-world applications in a business setting. Students play an integral role in shaping our future, and this was apparent with the extremely high quality of finished projects. By partnering with industry experts like Finastra, we gave students the necessary education and tools which resulted in a variety of innovative ideas to increase sustainability and inclusivity in financial services.”

Chirine Ben Zaied, Head of Innovation at Finastra said, “Finastra’s commitment to ESG is underpinned by deep-rooted collaboration, which makes competitions like these crucial. We are so impressed with the creative ideas and insights from all the projects and are extremely proud of the students who took part. A key takeaway is that ESG investing might look like a crowded space, but there is still room for innovation. Additionally, financial inclusion remains a huge problem: financial apps are still inaccessible for many, but fintech can play a big role in tackling this challenge. It was a pleasure to collaborate with the partners and we extend a huge congratulations to all of the winners.”

Throughout the past six months, participants received material resources, including access to Finastra’s open platform for innovation, FusionFabric.cloud, and weekly training with nearly a hundred coaches from a variety of industries. Winning projects were selected based on their degree of completion, financial viability and their capacity for disruption and innovation.

currenxie-joins-amazon’s-payment-service-provider-(psp)-program

Currenxie joins Amazon’s Payment Service Provider (PSP) Program

June 28, 2022 Published by

 

Currenxie, the Hong Kong-headquartered cross-border payments company, today announced its official participation in Amazon’s Payment Service Provider (PSP) Program. Through this programme, Amazon sellers around the world can now choose to use Currenxie to collect revenue from their sales and make payments to their suppliers anywhere, anytime, without additional fees.

The COVID-19 pandemic has fundamentally changed the eCommerce landscape. Consumer adoption of digital products and services, as well as online shopping, have exploded – leading to an increase of online sellers jumping to meet the demand. The PSP Program is part of Amazon’s continued efforts to be the safest and the most trusted store in the world for customers and sellers. Participating PSPs must have appropriate risk and compliance controls in place and work with Amazon to reduce the potential for fraud and abuse.

Amazon marketplace sellers now have the option to select Currenxie as their chosen global payment provider to receive their sales proceeds and access one of the largest virtual account networks in the world. Using Currenxie’s Global Account® to transact means that eCommerce sellers can leverage a virtual multi-currency account with over 18 currencies, which they can then use to send and receive payments locally with over 40 countries, without any correspondent bank fees.

Riccardo Capelvenere, Founder and CEO of Currenxie, said: “We are very pleased to become a member of Amazon’s PSP Program. The Program is designed to only accept the world’s most safe and secure cross-border payments companies – ones who are committed to helping sellers around the world have the freedom to pay and be paid anywhere. We will continue to provide high-quality service for our customers on a daily basis leveraging the strength of our global payments infrastructure that we’ve built.”

Alongside Amazon, Currenxie’s platform also connects to other eCommerce marketplaces like Shopify, Etsy and eBay, as well as payment gateway providers such as Stripe, Alipay and PayPal. The company’s successful USD 10 million Series A funding round in August 2021 has allowed Currenxie to accelerate its vision of empowering businesses to access global commerce and was followed by the launch of its Visa card in November 2021 for Hong Kong-based clients.

Amazon’s Payment Service Provider Program is designed to enhance its ability to detect, prevent and take action against bad actors so Amazon and participating PSPs can continue to protect customers and sellers from fraud and abuse. Please see Amazon’s PSPP Policy Help page for important details here), and the FAQ page here for important dates.

sensedia-apix-open-for-registration

Sensedia APIX open for registration

June 24, 2022 Published by

 

APIX one of the world’s largest API business events, is open for registration. Hosted by multinational API technology company Sensedia, the 2022 event offers free online sessions on 29 June, followed by an in-person experience hosted at the World Trade Center, São Paulo, Brazil, on 30 June.

APIX offers access to four simultaneous tracks, presented from the UK, Brazil, US and Mexico, with eight hours of scheduled events and 40+ presentations from world-renowned experts.

On 29 June, online attendees can access rich, interactive content and global live streaming, and on 30 June, attendees have access to exclusive content, networking rooms, one-on-one conversations with specialists, and the opportunity to exchange knowledge with IT professionals who leverage digital transformation in their companies.

Based upon three pillars, the event:

  • Shares knowledge about best practice and strategies for integrations, APIs, Microservices and technology
  • Inspires delegates with digital stories that reveal how APIs and Microservices deliver  business results, from leveraging the Ecosystem innovation to unlocking valuable data and preparing more pluggable enterprises
  • Hears from leaders who discuss the future of a more open and connected world and what’s  needed to embrace more agile business models and ecosystems.

UK speakers include:

  • Michelle Kearns, Boots Ireland, covering the role of technology in the healthcare sector
  • Isabel Pitt, Zopa Bank, Bronwyn Boyle, Mambu, and Claire Barrett, APIs First, discussing women in IT
  • Tadas Bakutis, Connect Pay, Elliott Locke, Abroaden, and Patricia Haynes, Zopa, explaining how fintechs are shaping the future of finance
  • Yuri Poletto, the Open & Embedded Insurance Observatory, explaining why every company will be an insurtech.

There are also UK sessions on Open Education and digital transformation in higher education and Open Finance powering the financial future.

This year’s expert line up is available on the events page. Register here

“APIX gives attendees the opportunity to learn about the latest API technologies and best practices to enhance openness, flexibility and agility in their organisations,” comments Lucas Tempestini, Sensedia’s head of marketing.

cityfalcon,-the-spotify-of-financial-content,-raises-$2m-from-a-client,-tbh,-holt,-and-seedrs

CityFALCON, the Spotify of financial content, raises $2m from a client, TBH, Holt, and Seedrs

June 23, 2022 Published by

 

London and Malta based fintech CityFALCON closed an equity fundraising campaign on Seedrs of £1.65m ($2m) to scale up the business and bring even more insightful products to market faster.

On Seedrs, the leading UK private investment platform, CityFALCON has leveraged individual investors from their growing fanbase and onboarded institutional investors.

Serial entrepreneurs took part in the round, including one that sold his last company for £500m.

Moreover, eToro, the social investing network with over 27 million registered users globally, took a small position in the company. eToro is a client and powers its News tab with CityFALCON content, providing users with a quality contextual newsfeed to inform investment decisions and increase engagement.

As further validation, The Holt Xchange, a global early-stage VC firm and platform in Canada, and Terance Butler Holdings (TBH), a property investment company in the UK, have both taken stakes.

TBH’s investment enhances their portfolio of high-growth, IP-based companies. Stephen Walker, Investment Director at TBH, said “We are excited to invest in CityFALCON at what we believe is a pivotal time for the company. Having gained traction, we believe now is the right moment for the company to scale up its sales & marketing effort whilst continuing to develop the product”.

Managing Partner at Holt Xchange, Elisabeth Laett, stated “The democratisation of financial information is the result of a global demand to access better education and deeper financial insights for a broader audience. We have been impressed with the team’s mission at CityFALCON and pleased to further support them in this seed round”.

Overall, CityFALCON boasts 2300 existing investors, with 1200 coming on in this round, including new and repeat investors.

Ruzbeh Bacha, CEO at CityFALCON, commented “We are grateful and very excited about this round, especially during these volatile and uncertain times. Our users, clients, and investors on Seedrs have been amazingly supportive”.

Seedrs’ Kirsty Grant, chief investment officer, added “CityFALCON’s raise far outstripped their original expectations and shows the investor demand for opportunities even amidst the current economic climate. We are happy to have been able to support them in their journey.”

hamilton-lane-names-victor-jung-as-head-of-digital-assets

Hamilton Lane Names Victor Jung as Head of Digital Assets

June 22, 2022 Published by

 

Hamilton Lane (NASDAQ: HLNE) today announced that Victor Jung is joining the firm as Head of Digital Assets. In this newly-created role, Jung will be responsible for developing and overseeing the execution of the firm’s digital asset strategy. He will oversee this strategy globally and report directly to Frederick Shaw, Chief Risk Officer and Global Head of Operations.

Jung brings nearly a decade of leadership experience in financial services across both institutional and private wealth channels to Hamilton Lane. He was most recently Head of Distribution Partners & Liquid Private Markets – Asia Pacific, at Partners Group. In that role, Jung oversaw business development and led the onboarding of the firm’s first three wealth technology platforms.

“We’re committed to expanding access to this asset class for a broader set of investors, and to bringing greater usability and transparency through the use of technologies like blockchain,” said Shaw. “We are thrilled to welcome Victor to our team as we look to build on our digital asset offering and continue to find innovative ways to serve investors of all sizes around the world.”

This news comes as the firm looks to broaden its digital asset offering, which today includes a partnership with Singapore-based digital securities exchange ADDX, offering tokenized access to Hamilton Lane’s Global Private Assets Fund. The Fund is accessible to ADDX investors at a minimum ticket size of $10,000, compared to the minimum of $125,000 or more for investors who subscribe via traditional, non-tokenized distribution channels.

The partnership, and subsequent balance sheet investment into ADDX, made Hamilton Lane one of the earliest major private markets firms to tokenize a fund, and reflect the firm’s long-standing commitment to identifying and investing in innovative technology solutions as a means of solving for some of the traditional pain points in the asset class. For more than a decade, the firm has been making strategic investments into innovative financial technology firms aimed at improving access and transparency within the private markets. Many of the companies in which the firm has invested today are viewed as standard bearers for the industry. In addition to ADDX, recent investments have included ESG technology platform Novata and wealth management fintech platform TIFIN.

“Hamilton Lane is a firm that shares in my belief that digital assets present a major opportunity for the private markets, and are likely to be transformative within this asset class,” Jung said.  “I look forward to collaborating with a leadership team that is committed to investing in and adopting transformational solutions – and partnering with leading fintech platforms globally – in an effort to deliver best-in-class services to investors looking to diversify into or expand allocation to the private markets.”

top-investors-back-falconx-as-the-need-for-reliable-execution-&-institutional-conviction-in-digital-assets-continues-to-soar

Top Investors Back FalconX as The Need For Reliable Execution & Institutional Conviction In Digital Assets Continues To Soar

June 22, 2022 Published by

 

FalconX, a digital assets platform for institutional investors, today announced a $150M Series D financing round, valuing the company at $8 billion. The round was led by GIC and B Capital, with participation from Thoma Bravo, Wellington Management, Adams Street Partners and Tiger Global Management. This venture round more than doubles the value of FalconX after its Series C raise in August 2021 that valued the company at $3.75 billion. FalconX has now raised $430 million+ from the world’s leading investors, making it one of the most valuable crypto prime brokerages in the world.

Momentum Is Strong Throughout Recent Market Stress Tests

There has been a definitive flight to quality in both the public and private markets – with investors focused on strong, profitable and sustainable companies. In Q1 2022, FalconX had the strongest quarter of customer onboarding in the company’s history, despite the volatile public and private markets. This growth is driven by demand from a diverse range of institutional market customers who are looking for a reliable execution platform in volatile crypto markets, capital efficiency to scale returns and strong risk management.

“FalconX is one of the very few crypto prime brokerages who do not take on market risk, so we’re not in conflict with our clients and their trading strategies. In light of recent market conditions, this is extremely valuable to our clients who demand a reliable market infrastructure provider. This investment is a validation of our client-first focus, the health and strength of the crypto industry, and the move towards digital asset transformation,” said Raghu Yarlagadda, CEO and Founder of FalconX.

FalconX At the Forefront of Digital Asset Transformation

We are in the early stages of a shift towards digital asset transformation and crypto is the first use-case. Soon, every asset will go through a transformation, leverage tokenization and become truly global. This will unlock unparalleled value in industries where 24/7 liquidity and credit did not exist previously. From the world’s largest hedge funds to fintech companies, boardrooms are focused on digital asset transformation. FalconX is driving this transformation by creating the underlying infrastructure required to not just access crypto but pave the way for traditional assets such as equities to be tokenized.

“FalconX is a key liquidity provider for Apex Crypto and a key partner that contributes to best pricing,” said Danny Rosenthal, CEO of Apex Crypto. “We are proud to partner with FalconX to provide strong markets for our customers, representing over 4.5 million cryptocurrency accounts, in a seamless and capital efficient manner. We look forward to our future with FalconX.”

Premier Talent Is Hungry to Be Involved in the Early Stages of Crypto

While there has been a public narrative that the current hiring trend across the technology ecosystem is slowing down, FalconX’s growth strategy remains unchanged. The company is currently hiring across departments. As one of the leading talent hubs in the world of crypto, the company recently announced the hiring of key executives like Suzy Walther (formerly of Carta) and Jon Kaplan (formerly of Pinterest). Because the crypto industry is well funded with more capital eager to engage, premier talent is hungry to be involved in these early stages.

“We partner with companies that will have lasting impacts on the industries and customers they serve. As a tech-first digital asset infrastructure platform, FalconX provides a holistic product offering paired with unparalleled execution that supports over 70M+ transactions on a monthly basis. They are well-positioned to lead the ongoing institutional transition to digital assets for years to come,” said Rashmi Gopinath, General Partner, B Capital.

Last month, FalconX became the first CFTC-registered crypto-focused Swap Dealer and one of the first crypto-focused Primary Level Members of the International Swaps & Derivatives Association (ISDA). As a result of adhering to these regulatory and industry standards, U.S. institutions can now engage with this regulated product in a predictable and familiar way.

optty-adds-pace-to-its-growing-buy-now,-pay-later-ecosystem

Optty Adds Pace to its Growing Buy Now, Pay Later Ecosystem

June 22, 2022 Published by

 

Optty, the world’s first independent Buy Now, Pay Later integration platform, today announced that Singapore fintech company Pace has added its buy now, pay later payment offering to the Optty integration platform. Pace is the 45th provider to join the Optty network of buy now, pay later and next generation payment partners.

BNPL Rely, acquired by Pace in March, was part of Optty’s ecosystem of BNPL and next gen payment partners. With Pace’s integration into Optty, previous Rely customers that were transitioned to Pace, seamlessly maintain their advantages of being part of the Optty network.

“Pace is a new BNPL that is swiftly expanding across Asia-Pacific on a mission to build a better way to shop fueled by transparency, trust, and technology that gives people the freedom to take charge of their finances,” said Natasha Zurnamer, CEO of Optty. “We are pleased to have integrated Pace into Optty. By doing so, we are empowering merchants across the region to rapidly add Pace for their shoppers and tap into our BNPL superhighway to revenue.”

Optty is the world’s first independent platform to integrate multiple BNPLs in a single place, empowering merchants the ability to increase sales and conversions, while offering customers more choice and complete flexibility with their shopping experience. It provides retailers with a direct channel to dozens of the top global BNPL providers offering faster connections and improved managed user experience and performance. Optty is available in more than 59 countries and 36 currencies, including Pace’s growing service area in Asia.

“Integrating with Optty’s innovative platform means that more merchants are able to tap into Pace – the fastest growing BNPL in Asia – and provide seamless split payments for shoppers,” said Turochas Fuad, CEO of Pace.  “We are confident that this partnership will accelerate our regional growth and create financial democracy for everyone.”

Optty brings together the world’s BNPL providers in one simple and rapid integration. Retailers can connect using their preferred e-commerce platform, integrate once and switch on the BNPL and next gen payment providers of their choice in minutes. The platform currently has 200 global integrations with 45 BNPL solutions including Afterpay, Affirm, Grab, Klarna, Scalapay, Pace, and Zip. Available through Optty’s integration platform, Pace can quickly reach more shoppers.

Pace is available in Singapore, Japan, Malaysia, Thailand, Hong Kong and Taiwan. Retailers that join Optty can sign up for Pace through the Optty Retail Control Centre.

timo-trippler-of-fcas-wins-two-business-worldwide-magazine-ceo-awards

Timo Trippler of FCAS Wins Two Business Worldwide Magazine CEO Awards

June 22, 2022 Published by

 

Timo Trippler, CEO of award winning blockchain funding organisation Fundraise Capital Advisory Service (FCAS), has received two accolades in the 2022 Business Worldwide Magazine CEO Awards.

The awards seek to identify and honour the Most Respected C-level executives across the globe, from a variety of different sectors. They do not focus on a company’s success, as many do, but instead the spotlight is on the success of individuals who make the corporations tick– namely senior executives such as CEOs, Managing Directors, Directors, and senior-level management. The intention is to give a worthy individual the recognition they deserve, while using use their example to inspire other companies and business leaders to achieve similar success.

Timo Tripper was the outright winner in two categories, being named ‘Fintech Start-up CEO of the Year – Europe‘ & ‘Growth Strategy CEO of Year – Germany‘.

FCAS provides fundraising, development, strategy, and advisory solutions to help deploy blockchain projects and incorporate this technology into worthy projects. As a pioneer in the strategic consulting and fundraising space for global blockchain projects, the German company recognised early on the importance of Web 3.0 (the third generation of the www) and blockchain technology.

This latest version of the internet is set to revolutionise how the world communicates. Powered by decentralisation, encryption, and a shift from server-client interactions to peer-to-peer interactions, more and more companies are relying on data to power their digital transformation journeys. As the founder and CEO of FCAS, Timo Trippler is playing an important part in this revolution, and undertaking valuable work in the process.

The organisation’s client base includes many start-ups who are seeking venture capital funding, but an increasing number of established companies are also joining the portfolio for advice on how to transform via blockchain technology.

Timo has built strong relationships with business angels and venture capital companies throughout his career, which proved invaluable in the establishment of the FCAS. He has also been involved in the blockchain movement since 2015 and since then has held several strategic and marketing advisory roles, as well as working with high profile brands from a diverse range of industries. Since founding the FCAS he has successfully secured funding for over 90 projects, amounting to more than $100 million.

FCAS’ work involves preparing the necessary documents to pitch to investors for future blockchain projects, along with providing in-depth advice on the sector. The organisation only works with projects and companies that Timo personally believes will be successful. Speaking to Business Worldwide Magazine, Timo explained FCAS recipe for success “Our success, and what distinguishes us from our competitors – is our long-standing relationship of trust with investors. I’ve based my career on building valuable networks and partnerships with high-net-worth individuals and investors specialising in many sectors. All have common ground in seeking worthy projects to invest in and industrious, reputable advisors to introduce them.”

leap-launches-home-equity-sharing-capital-access-program-and-robust-education-platform-to-help-close-wealth-gap

Leap Launches Home Equity Sharing Capital Access Program and Robust Education Platform to Help Close Wealth Gap

June 21, 2022 Published by

 

Leap Analytics Inc. (“Leap”), a fintech real estate investment firm that seeks to transform the home finance marketplace and empower historically underserved communities to help close the wealth gap, today announced the launch of its full-service website, featuring free financial education resources and information regarding its customized Home Equity Agreements (HEAs).

Headquartered in Los Angeles, Leap is led by Ashley Bete, a fintech and real estate entrepreneur who has served in executive roles at leading global financial and real estate institutions.

Mr. Bete said, “We combine innovative technology with institutional real estate expertise to empower homeowners in communities of color to improve their financial standing and credit scores. Our goal is to narrow the wealth gap in this country by focusing on education and developing solutions that earmark funds to enhance our clients’ financial relevancy, while expanding their access to financial opportunities.”

How Leap HEAs Work

Home equity is a $19 trillion market in the United States and access to home equity is still the leading wealth generator in the country. HEAs, also known as Home Equity Investments (HEIs), are a new asset class allowing homeowners to access the equity accrued in their homes. An HEA is not a loan. It is a shared agreement between a homeowner and a company (typically an investment firm), where the homeowner receives a lump sum cash payment in exchange for a specified percentage of the home’s present and projected future value, for a fixed period (usually 10 or 30 years).

As the cost of home equity lines of credit rise with interest rates, an HEA provides a more affordable way to unlock home values to address pressing financial needs.

Through HEAs, Leap enables homeowners to stay in their communities and participate in the often-dramatic economic improvements that accompany gentrification.

With the proceeds of an HEA, homeowners can pay down existing debt, resulting in lower debt-to-income ratios (DTIs) and higher credit scores. Leap provides cash payments in exchange for a 6% to 18% equity stake in a home. The homeowner must have at least 30% in equity to qualify for Leap’s program. At the end of a typical HEA term — usually 10 or 30 years — the homeowner can either buy back their equity, extend the agreement’s term, or sell the home so the equity stake can be recouped by Leap or the investor.

Leap Solutions

Leap developed a proprietary family of one-year HEA solutions, which have the shortest term of any HEA on the market. Leap’s gains are capped at a 16% to 28% internal rate of return to provide its investors with a competitive risk-adjusted return.

  • Leap Restore gives homeowners more flexibility and aims to position them as creditworthy borrowers within six months.
  • Leap Relax will provide retired homeowners the ability to ease financial pressures.
  • Leap Revive helps struggling business owners stabilize their finances.

Leap will also partner with like-minded financial institutions that share its core value of demonstrating a commitment to DEI and ESG, and using its fully automated platform to process HEAs, which removes the subjective aspect of the application process.

“Leap was founded to be more than a business that provides homeowners with much-needed capital and investors with solid return potential,” Mr. Bete added. “Together with companies that share our values of integrity, gender-pay equity, and a demonstrated commitment to empowering communities of color, we can scale our mission of closing the wealth gap and helping every homeowner achieve the American dream of prosperity. Our mission is to close the homeownership and wealth gap by providing real estate education and financial literacy for all.”

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