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Global Payments Part Two: Cross Border Payments

Global Payments Part Two: Cross Border Payments

Aug 16, 2017 |

Part Two of this FinTech series will discuss the current breakthroughs in cross border payments that are waving in a golden age of FinTech, despite regulation. Global Payments Part Two: Cross Border Payments “By 2020 it is expected that some 94 million online shoppers will spend almost $1 trillion on cross-border eCommerce transactions. To get a piece of this opportunity, retailers need to be able to handle the complexities of selling to shoppers in multiple countries. Shipping logistics, tax handling, localization of the checkout page and local payment processing are all critical to be successful selling cross-border.” The statement, released by FedEx when they announced their partnership with eCommerce gateway BlueSnap, highlights the reasons and difficulties in cross-border shopping, and payments in particular. This slow-moving issue hits everyone from those looking to send a few dollars every month to families back home, to huge businesses wanting to participate in cross border eCommerce orders. The $1T estimate from FedEx only covered eCommerce transactions, which is just a fraction of the span of cross-border payments. The problem can complicate even minute...

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Global Payments Part One: Remittances

Global Payments Part One: Remittances

Aug 9, 2017 |

This post is part of a three-part series discussing the current struggles and future potential of payments globally. This first piece will discuss the huge issue of remittances and the effect that FinTech breakthroughs can have on the space to make the lives of millions of foreign workers easier. With all the technological innovation impacting people across sectors, lifestyles and regions, it’s a wonder that the finance sector seems to capture less of our collective imaginations. The potential of, say, blockchain on the FinTech sector to create a new, freer global money market is exponential. Booming e-commerce is questioning the slow pace of cross-boarder payments. Yet there has been a long standing issue that effects many of the world’s poor. With all the new questions, the old question of improving remittance payments can get overlooked. Yet FinTech innovation has the power to change the lives of millions of people, especially within the third world, where migrants and expats are struggling to send money home to their families abroad. The need to provide direct, fast, and not exorbitant ways to...

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A different path to impact investing: Startups’ role in social responsibility

A different path to impact investing: Startups’ role in social responsibility

Aug 1, 2017 |

Aside from an impact investing opportunity (think green, education, ‘the greater good’), you’d be forgiven for not associating startup investing with social responsibility. Actually, there is plenty of room for helping the non-profit world in startup investing. Tmura, the Israeli public service venture fund, is one example – enabling founders to do good while making their exits. Since 2013, every new OurCrowd portfolio company has been required to dedicate a portion of their equity to charity, through Tmura. At exit, Tmura sells its shares, and donates the proceeds to the high-tech company’s preferred charity, focused on educational and youth-related activities. OurCrowd has long made its social responsibility a priority, believing that the startup sector can give back to society. OurCrowd was the first VC to require its Israeli companies to commit equity as part of the deal terms. Seeking investments with OurCrowd is synonymous with adopting a charitable aspect to each startup. This quarter alone, three companies, Scopio Labs, BrainQ and Splacer all joined Tmura. The program is especially appealing because it ties charitable giving to the success of...

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Download: OurNetwork’s Quarterly Innovation Report

Download: OurNetwork’s Quarterly Innovation Report

Jul 31, 2017 |

OurNetwork’s Strategic Collaboration Program has released its first Quarterly Innovation report, which brings its readers the latest information on the edge of the startup ecosystem. The OurNetwork program is designed to foster collaboration between startups and corporations and to develop mutually beneficial relationships. This report includes: a corporate innovation map highlighting how corporations are innovating an in-depth view on Ethereum and blockchain technology  investment trends discussion of Amazon’s purchase of Whole Foods. Download it here. Join OurNetwork’s Strategic Collaboration Program to gain access to cutting-edge global innovation here....

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6 things you didn’t know about OurCrowd President Andy Kaye

6 things you didn’t know about OurCrowd President Andy Kaye

Jul 25, 2017 |

6 things you didn’t know about OurCrowd president Andy Kaye OurCrowd recently welcomed Andy Kaye as the new President and CIO. With over 20 years of experience in the financial industry, he has led investment banking operations around the globe. We sat down with Andy to find out a little more beyond his resume. Here are six surprising facts we learned. 1) He spent 7.5 years in the Israeli navy. After finishing high school, Andy volunteered to an elite naval unit, after graduating from the 20 month program he continued to the Naval officers course and ship command.  After almost 8 years, it was time to make a choice whether to make a career out of it, so he took a year off to travel and decide his path. A stop in London started a love affair with the stock market, eventually leading to his financial career. He never forgot the navy, however, and both his son and daughter served periods in the Israeli navy as well.   2) He is more Israeli than you think. Despite the English accent and kind manner, Andy made Aliyah at 16 and despite having traveled most of the globe and living in London, China, and New York for long stretches, he always came...

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