News September 11 2019

Zero-commission investment app, BUX Zero, begins its European rollout

  BUX Zero will empower the mobile generation to do more with their money by investing in companies and industries they believe in, all with zero-commission. AMSTERDAM, NL, September 11, 2019 - Today, BUX Zero officially launches to waitlisted users in the Netherlands, signaling the beginning of its broader European launch. The app is meant for both the experienced investor as well as those new to the world of finance. With the launch of BUX Zero, BUX continues its mission to open the financial markets to all by creating apps that make it easy for people to do more with their money. “Today, we are proud to invite our Dutch users to be the first to experience BUX Zero.” said Nick Bortot, BUX Founder and CEO. “Since 2014, we have made it our mission to make the world of finance a more approachable, accessible place for more than 2 million users across Europe. Our experience in building engaging mobile apps, along with our background in operating across Europe has allowed us to create a better solution for investing for a whole new community of digital natives.”   Navigating Europe’s changing investment landscape With a generation of Millennials entering their prime earning years, investing in Europe is no longer a ‘nice-to-have’ but rather a necessity. According to a 2019 ING International Survey, 61% of Europeans are worried about funding their retirement, with 54% expecting that they'll need to keep earning after retiring. Many in this generation will no longer be able to rely solely on more traditional safety nets, like pensions. While Europe does not share a similar investment culture with the U.S., the introduction of zero-commission investing, coupled with intuitive apps, like BUX Zero, will empower more Europeans to take their financial futures into their own hands. The same ING survey found that almost half of Europeans agree that that investing their savings is a good way to build wealth. So how will BUX Zero get more people excited about investing?   Simplifying the complicated The world of finance has long been an overwhelming place for the average person. Many people, put off by the complicated jargon and complex investment strategies, have chosen to ignore the need to invest altogether. BUX Zero will offer a more welcoming experience through an easy-to-navigate app where exploring investments and your performance are effortless.   Saving users’ money For those who may not have a great deal of wealth, commissions can add up quickly, and eat into profit. By charging no commission, BUX Zero allows more people to take part in investing. In addition to saving on commissions, it also makes it possible for users to invest small amounts, which ultimately gives everyone the chance to invest in the brands they know and love - brands that might otherwise be out of reach.   Bringing you closer to the brands you care about BUX Zero will make it easy for users to find brands and companies that they care about in a few simple taps. Unlike previous generations, today’s consumers put their money behind brands and companies that align with their interests and values. A 2018 global survey by Accenture showed that over half of consumers in the UK want companies to take a stand on issues such as sustainability, transparency and employment practices. Nearly 75% of Gen Z consumers are driving this trend. Whether it’s green energy, the sharing economy or companies with female leadership, BUX Zero’s smart search connects users to the brands that are aligned with their values.   Becoming Europe’s go-to neobroker BUX Zero will be one of the few exclusive apps in Europe to be powered by its own back-end broker. This system was built from scratch and is one of the first to be built from the ground up in more than 10 years in continental Europe. “It has taken some time, but we have built a full-fledged stockbroker while simultaneously building the BUX Zero app.” Said Nick Bortot. “Having this full stack back-end gives us a tremendous amount of flexibility because we aren't tied to a third party's legacy system. It makes our operations incredibly cost-efficient, so we can offer zero-commission investing. We can also easily offer innovative features, like fractional stock ownership in the future.” BUX Zero will soon be available to users across Europe. Without the need to secure a third-party back-end brokerage partner in multiple countries, BUX Zero will be able to efficiently launch across multiple countries in Europe. "BUX’s keen understanding of the needs of the mobile generation, coupled with a powerful, in-house back-end brokerage positions them to take a leading role in the changing European investment landscape.” Barbod Namini, Partner, HV Ventures.   With BUX, everyone can now invest commission-free BUX Zero currently offers Market Orders and Limit Orders. Both order types are available commission-free until the end of this year. Next year, BUX Zero will introduce a third order type, the "Basic Order", which will be commission-free forever. When users select this option, their orders will be executed at a fixed time, once a day.   With the introduction of Basic Orders, BUX will start charging the rates below for other order types:   Basic Order: Free Market Order: €1 Limit Order: €2   This will ensure that BUX Zero offers all users at least one order type to invest commission-free now and in the future.   In parallel, BUX will also introduce a subscription plan. Users will have the option of paying a fixed monthly fee to get access to unlimited commission-free Market, Limit and Basic Orders. The subscription fee will be lower than the commission of a single transaction at a traditional online broker.   (Details of the subscription, including the price, are currently being tested among user groups and will be published as soon as the plan is made available.)   BUX receives no payment for order flow from market participants and providers of financial products. Orders are sent to a "smart order router", which forwards them to the place where they are executed according to best execution principles.   Sign-up and availability BUX Zero will begin onboarding users who are on the waitlist and will be progressively onboarding users over the course of the coming weeks. Following today’s launch in the Netherlands, BUX will then subsequently roll out to users in Germany and Austria.   About BUX BUX makes it easy and affordable for Europeans to do more with their money. Since launching in 2014, BUX has made the markets accessible for more than 2 million users across 9 countries in Europe. It’s first app, BUX X, offers short-term, leveraged trading, all powered by a vibrant ‘in app’ community. With the introduction of BUX Zero, BUX is bringing commission-free investing to all, allowing users to invest in the brands and companies they care about through an intuitive, easy-to-use app. BUX Zero is currently available in the Netherlands and will be launching in Germany and Austria shortly after, followed by a broader rollout across Europe in 2020. Headquartered in Amsterdam, the Netherlands, the company is backed by Holtzbrinck Ventures, Velocity Capital, Finch Capital and Initial Capital.

News August 27 2019

Modulr Finance, iwoca, Currencycloud and Atom Bank awarded Banking Competition Remedies fund

Re-posted from Currency Cloud   Currencycloud, the enterprise-class cross-border payments provider, has been awarded a £10 million grant to support SMEs as part of the Banking Competition Remedies (BCR) programme. The award was part of the Capability and Innovation Fund (CIF) Pool C and is designed to facilitate the expansion of business offerings to include lending or payments services to SMEs in the United Kingdom or international payments services to SMEs in the United Kingdom. Mike Laven, CEO Currencycloud commented: “We will be using the funds over the next few years to accelerate our product development for SME’s, particularly in the area of collections. We will also work on distribution partnerships that enhance our ability to deliver to SMEs. Our current UK eco-system of over 150 FX brokers, money transfer firms, payment service firms and banks service 1,000’s of UK SMEs with payment services today. Our intent is to widen access to affordable FX and international payments for UK SMEs, targeting 40,000 SMEs using our platform by 2024.” Currencycloud is unique in the cross-border payments market due to our B2B2X business model. They provide the payments infrastructure and global network to other businesses that serve UK SMEs – neobanks, challenger banks, traditional banks going digital, FinTech platforms and FX brokers. Over the years, their innovative cross-border capabilities have enabled clients to disrupt the SME payments market in the UK, raise the bar on product and customer experience, and elicit a competitive response from the traditional players. Considering their role in the market, the CIF grant will directly raise the capabilities of hundreds of financial services firms serving UK SMEs and have an exponential impact on market competition.   You can see the public commitments as part of their award here.   About Currencycloud Currencycloud’s technology is unlocking the global economy for payment platforms of the future. It’s B2B cross border payments infrastructure enables businesses to deliver an awesome experience to their customers, though one simple and flexible API connection. Launched in 2012, Currencycloud is based in London and is regulated in Europe, the U.S. and Canada, and has processed more than $50bn to over 180 countries. Currencycloud works with banks and fintechs globally including Starling Bank, Standard Bank South Africa, Travelex and Brookline Bank.

News July 3 2019

Vimeo acquires Magisto, a video-creation automation company

Vimeo is acquiring Magisto, a provider of video-editing and production-automation services, aiming to bulk up its video tool set and expand its global customer base. Magisto, founded in 2009, claims to have 113 million users and that its platform has been used to create more than 450 million videos to date. The company had raised $22.5 million from investors including Qualcomm Ventures, SanDisk Ventures, and Horizons Ventures, according to Crunchbase. Terms of the deal weren’t disclosed. Vimeo is paying an estimated $200 million for Magisto, Israeli business publication Globes reported Monday. Magisto has 75 employees with offices at its headquarters in Menlo Park, Calif., and offices in Ness Ziona, Israel. IAC-owned Vimeo expects the deal to close by the end of the second quarter. According to the companies, Magisto enables simple and intuitive short-form video creation for any platform. The combination of Magisto’s professional video creation capabilities with Vimeo’s suite of video hosting, distribution and monetization tools will extend Vimeo’s position as the industry’s most complete video-hosting solution, according to Anjali Sud, CEO of Vimeo. Most small businesses don’t have the tools, resources or expertise to produce the kind of video output expected across social media, Sud said in announcing the deal. “Magisto’s proprietary technology enables cutting-edge mobile apps and AI-powered editing tools which, combined with Vimeo’s scale and unmatched creator community, will empower more people to tell compelling stories through video,” she said. Following the acquisition, Vimeo said it will work with Magisto to develop new short-form video creation capabilities for the Vimeo platform. Magisto users also will be able to access Vimeo’s full suite of workflow tools, so they can deploy their videos across platforms with a click of a button and measure performance all in one place. Vimeo says it currently has around 90 million users in over 150 countries. For the fourth quarter of 2018, IAC reported that Vimeo grew paying subscribers 9% year over year, to 952,000. Vimeo’s revenue for the period increased 28%, to $44.2 million, with average revenue per user climbing 22%. Magisto is Vimeo’s third major acquisition, following its deal to buy video-on-demand platform provider VHX in 2016 and live-video hosting provider Livestream in 2017. Under Sud, who was named Vimeo’s CEO nearly two years ago, the company has doubled down on catering to its paying creator base with new features after axing its plans to intro a direct-to-consumer subscription VOD product. Once the acquisition closes, Magisto founder and CEO Oren Boiman and the rest of the company will be joining Vimeo. Boiman will continue to lead Magisto, reporting directly to Vimeo chief product officer and CTO Mark Kornfilt. In a statement, Boiman said Magisto “level[s] the playing field so that any business can move fast and compete in today’s video-first world. We’re thrilled to join Vimeo’s industry-leading platform, and to power their vision to make professional-quality video creation accessible to all.”

News July 2 2019

Contentsquare acquires Clicktale to create the definitive global leader in experience analytics

  Combination Sets the Bar for Behavioural Insights Critical to Compete On Digital Experience Contentsquare, a leading digital experience insights platform trusted by brands like AccorHotels, Sephora and Walmart, announced today it has acquired Israel-based experience analytics company Clicktale, another leading digital experience platform, with clients such as Dell, RBS and T-Mobile. This combination creates the definitive global leader in the experience analytics market. The combined entity serves 600 enterprise clients around the world, including 30% of the Fortune Global 100, showing strong market presence in the U.S., Europe and Asia, and a global community of 12,000 users comprised of analytics, e-commerce, e-merchandising, content, marketing, UX and IT professionals. Just last week, Contentsquare announced the acquisition of Pricing Assistant, an innovative pricing optimisation and merchandising solution, making this the company's second acquisition. Contentsquare and Clicktale both go beyond traditional web analytics and heat-maps to give e-commerce and digital teams a granular understanding of customer behaviour on their web, mobile site and app. They collectively analyze nine trillion digital interactions every day to provide ready-to-use KPIs, benchmarks and recommendations many prestigious brands rely on to improve their digital conversions, revenue and loyalty. Together, Contentsquare and Clicktale provide the richest set of behavioural data, solutions and innovations to empower companies to understand how their digital experiences perform and prioritise the improvements that matter most. "The combination of Clicktale and Contentsquare heralds an unprecedented goldmine of digital data that enables companies to interpret and predict the impact of any digital element -- including user experience, content, price, reviews and product -- on visitor behaviour," said Jonathan Cherki, Founder and CEO of Contentsquare. "Increasingly, this unique data can be used to activate custom digital experiences in the moment via an ecosystem of over 50 martech partners.  With a global community of customers and partners, we are accelerating the interpretation of human behaviour online and shaping a future of addictive customer experiences." While they share a common mission rooted in behavioural data science, solutions from Clicktale and Contentsquare are highly complementary. Clicktale's focus has been to help digital teams see and solve issues to reduce friction in the buying journey, while Contentsquare empowers the discovery of formerly unseen opportunities to improve conversion and optimise content performance. "Clicktale boasts a heritage of driving meaningful insights for its customers while forging a path in digital experience innovation," said Shlomi Hagai, CEO of Clicktale. "Contentsquare and Clicktale are exceptionally compatible. By combining our resources, we unlock the next level of digital experience success for our customers." Product as well as research and development teams are working aggressively to deliver a joint augmented platform combining the best functionalities of each product.  Research and development resources will be integrated and expanded with teams working together in Paris and Tel Aviv. In total, the combined company now has more than 550 employees, with 170 people in R&D, including strong expertise in A.I. Since its founding, Contentsquare has experienced tremendous growth, including during the last year, in which it experienced 100% year over year growth; raised $60 million of Series C capital; and acquired Pricing Assistant. Contentsquare has raised $120 million over the last three years from Eurazeo, Canaan, Highland Europe and H14. Existing investors of Clicktale, including global investment firm KKR, will become investors in Contentsquare. About Contentsquare Contentsquare is a digital experience insights platform that helps businesses understand how and why visitors are interacting with their app, mobile and websites by analysing trillions of micro-behaviours -- such as hovers, scrolls and clicks -- each day. Contentsquare empowers every member of the digital team to easily measure the impact of their actions, and make fast and productive data-driven decisions to optimise the customer journey. Founded in 2012, Contentsquare has more than 400 clients worldwide, trusted by major brands such as AccorHotels, GoPro, Sephora, Walmart, and offices in London, Munich, New York, Paris and San Francisco. For more information, visit contentsquare.com. About Clicktale Clicktale tells the story of what your digital customers see and do, so you can help them achieve their goals. The leader in experience analytics, our platform and customer experience expertise transform millisecond-level behaviours and gestures into visualisations and insights worth millions of dollars. An enterprise-class platform, our architecture processes large, unpredictable workloads, and maintains stringent security and performance requirements. We offer deep integrations with over 50 vendors to extend the value of your marketing technology ecosystem. With a powerful combination of rich behavioural data and intuitive visualisations — enriched by layers of human intelligence — the world's most prominent brands rely on Clicktale to drive superior experiences on every digital channel.