Fintech Ecosystem Development Corp. (NASDAQ: FEXD) Is ‘One to Watch’

 

• The FEXD management team has extensive international experience in developing global fintech platforms and services
• The company in September 2022 announced a business combination with Rana Financial, which provides transfer of funds services between the U.S. and Latin America
• At that same time, FEXD announced the acquisition of Afinoz, a digital lending platform used by India’s leading banks
• In January 2023 the company announced an extension to close its announced business combinations with Rana and Afinoz through April 2023

Fintech Ecosystem Development (NASDAQ: FEXD) is a special purpose acquisition company (“SPAC”) formed for the purpose of effecting one or more business combinations with an intent to focus on the financial technology sector.

The company’s mission is to create and grow a global financial services ecosystem to address unmet mobile money needs in developing and industrialized countries and markets. FEXD plans to achieve this by acquiring and merging with financial technology pioneers that have the potential to help establish its global fintech ecosystem, and by continuing the development of proprietary technologies and applications to keep the company at the forefront of the cashless society market.

Digital money is replacing physical cash. Consumers can buy products and services from anywhere in the world and make payments across borders. Parents can send money to students studying in other countries. Migrant workers are sending money to families in developing nations. Rural villagers without banks can send and receive money using their smartphones. FEXD is developing mobile transaction platforms, applications and services that are helping to implement these changes.

The company plans to offer a diverse portfolio of products and services to consumers and businesses in the United States, South Asia, East Asia, Africa, Europe and Latin America. Its growth strategy includes acquisition, innovation and market development.

FEXD is a Delaware corporation based in Collegeville, Pennsylvania. The company was launched in May 2021 by a management team led by Dr. Saiful Khandaker that has extensive experience in developing and managing financial service platforms and applications, primarily in the mobile money sector. FEXD is sponsored by Revofast LLC.

Acquisition Targets

In September 2022, FEXD announced definitive agreements for business combinations with Rana Financial Inc., a Georgia corporation, and Mobitech International LLC (dba Afinoz), a limited liability company organized in the United Arab Emirates. The agreements call for Rana and Afinoz to become wholly owned subsidiaries of FEXD, with the combined company expected to continue trading on the Nasdaq under existing ticker symbol ‘FEXD’. The mergers are expected to close in Q2 2023.

Rana Financial

Rana Financial is a licensed money transfer company founded in 2009. Rana provides fast and affordable online and mobile transfer of funds between the U.S. and Latin America. Rana has been providing money transfer services in the U.S. market for 13 years and has 30,000 active users. Rana’s money transfer business grew to 200,000 transactions in 2021. The merger agreement values Rana at an implied $78 million enterprise value.

Mobitech International LLC

Mobitech International LLC (dba Afinoz) is an artificial intelligence-enabled digital lending platform used by India’s leading banks, non-banking financial companies and fintech loan providers. Afinoz’s fintech platform supports enterprises making loans primarily to middle- and working-class borrowers via its website or through its mobile phone application. Afinoz’s platform makes loans available and affordable to millions of Indian workers and unbanked users by providing access at a low cost. Afinoz’s platform has more than 50 lending partners, and its database of registered users in India includes more than two million individuals. The merger agreement values Afinoz at an implied $120 million enterprise value.

Market Opportunity

According to analysis by global market research firm Mordor Intelligence, the worldwide financial technology market is valued at approximately $194 billion in 2023 and is projected to grow to nearly $500 billion by 2028, representing a CAGR of 18.97% for the forecast period. According to the report, various financial crises and the COVID-19 pandemic have fueled consumer adoption of, and investor interest in, fintech over the past several years.

Management Team

Dr. Saiful Khandaker is Founder, CEO and President of FEXD. He is Group CEO and founder of FAMA Holdings Inc., a global developer of fintech platforms, applications and services based in the U.S. with offices in the U.K., India, Bangladesh and Zambia. He is currently leading the development of the FAMACASH(TM) network, a global fintech ecosystem to provide fast, affordable mobile money services in underserved countries such as Bangladesh. Before founding FAMA, Dr. Khandaker spent more than two decades leading the development of software solutions for Fortune 100 companies and startups. He also helped numerous clients modernize their fintech services as Chief Technology Officer at Mi3. He holds a Doctor of Management in Organizational Leadership, a Master of Science in Technology Management, and a Bachelor of Science in Computer Information Systems.

Jenny Junkeer is CFO at FEXD. She is a Chartered Accountant with over 17 years of experience. As CEO of Junkeer New Era Consulting, she leads a team specializing in helping companies launch and optimize business operations in fast-changing industries. She has extensive experience helping organizations scale operations to maximize value. She is an Adjunct Association Professor at Deakin University in Australia, a board member of the Global Health Initiative Foundation, and Director of Implementation at ConnectCV. She holds a Bachelor of Commerce Degree (Honors) from Monash University.

For more information, visit the company’s website at www.FintechEcoSys.com.

NOTE TO INVESTORS: The latest news and updates relating to FEXD are available in the company’s newsroom at https://nnw.fm/FEXD

About NetworkNewsWire

NetworkNewsWire (“NNW”) is a financial news and content distribution company, one of 50+ brands within the InvestorBrandNetwork (“IBN”), that provides: (1) access to a network of wire solutions via InvestorWire to reach all target markets, industries and demographics in the most effective manner possible; (2) article and editorial syndication to 5,000+ news outlets; (3) enhanced press release solutions to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of corporate communications solutions. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience comprising investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.

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SideChannel Inc. (SDCH) Helping Improve Businesses’ Cybersecurity Attack Readiness Through Affordable and Robust Cybersecurity Support

 

• It is estimated that as a result of the COVID-19 pandemic, cybercrime, including theft, data hacking, and destruction, grew by 600%, forcing nearly every industry to embrace new cybersecurity solutions
• Cybercrime is projected to cost companies worldwide an estimated $10.5 trillion annually by 2025, up from $3 trillion in 2015. However, the hefty upfront cost associated with protecting businesses from these attacks is leaving most SMBs vulnerable
• SideChannel acknowledges this issue, and through its team of vCISOs and vCPOs, it is lowering the barrier of entry to access fundamental cybersecurity services, ultimately providing a robust yet affordable solution
• By doing so, the company is playing a pivotal role in improving cybersecurity attack readiness while making robust cybersecurity solutions more accessible and affordable, particularly to SMBs

SideChannel (OTCQB: SDCH), a company founded on the belief that all enterprises, big or small, can have top-tier security guidance at a manageable cost, recognizes the current cost-prohibitive issue with cybersecurity solutions, and seeks to address it by offering affordable and robust cybersecurity support. In addition, the company acknowledges cybersecurity as a growing concern, and the inability of small and mid-sized businesses (“SMBs”) to access associated services is an issue that needs to be addressed, lest many be put out of business.

It is estimated that due to the COVID-19 pandemic, cybercrime, including everything from theft to data hacking and destruction, grew by 600% (https://nnw.fm/1Siuu). This has forced nearly every industry to embrace new solutions and adapt quickly to the changing cybersecurity environment. With cybercrime projected to cost companies worldwide an estimated $10.5 trillion annually by 2025, up from $3 trillion in 2015, businesses are being forced to identify new and more effective ways of protecting themselves and their data from attacks. However, this comes at a hefty upfront cost that most SMBs cannot afford, leaving them vulnerable to such attacks.

SideChannel acknowledges this issue, and through its team of expert virtual Chief Information Security Officers (“vCISOs”) and virtual Chief Privacy Officers (“vCPOs”), it is lowering the barrier of entry to access essential cybersecurity services. This approach ultimately provides a robust yet affordable solution targeted explicitly toward SMBs. It also helps elevate cybersecurity readiness among these businesses, thus lowering the likelihood of a successful attack and mitigating the damages should one occur.

A Cybersecurity Readiness Index released by Cisco (NASDAQ: CSCO) noted that a mere 15% of organizations globally have a “mature” level of readiness needed to be resilient against today’s modern cybersecurity risk. In addition, the report noted that more than half (55%) of companies globally fall under the “beginner” (8%) or “formative” (47%) stages, meaning that they perform grossly below average on cybersecurity readiness (https://nnw.fm/UMCFu).

60% of respondents in the Cisco study noted that they had a cybersecurity incident in the last 12 months, with 41% of those affected citing losses of at least $500,000. The double-blind survey, which involved 6,700 private sector cybersecurity leaders across 27 markets, laid bare the prevalence of cybersecurity threats and attacks. In addition, it highlighted the cost implications of these threats while emphasizing the importance of preparedness and the right systems and infrastructure to protect one’s business against such threats.

SideChannel looks to provide access to expertise through experienced vCISOs, a dependable and consistent source of critical information and experience. By doing so, it enables enterprises, specifically SMBs, to understand the cyber environment, develop cybersecurity programs specific to their use cases and track those programs in a way that mitigates cyber risk and guarantees the smooth running of the business. Through these efforts, SideChannel is playing a pivotal role in improving cybersecurity attack readiness while making robust cybersecurity solutions more accessible and affordable, particularly to SMBs.

For more information, visit the company’s website at www.SideChannel.com.

NOTE TO INVESTORS: The latest news and updates relating to SDCH are available in the company’s newsroom at https://nnw.fm/SDCH

About NetworkNewsWire

NetworkNewsWire (“NNW”) is a financial news and content distribution company, one of 50+ brands within the InvestorBrandNetwork (“IBN”), that provides: (1) access to a network of wire solutions via InvestorWire to reach all target markets, industries and demographics in the most effective manner possible; (2) article and editorial syndication to 5,000+ news outlets; (3) enhanced press release solutions to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of corporate communications solutions. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience comprising investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.

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Social Media Strategies Summit – First Responders to Accelerate Your Career and Stay Ahead of the Curve

 Digital Engagement experts, Public Relations officers, and Social Media & Content Management executives, are all invited to attend the 2023 edition of Social Media Strategies Summit – First Responders. The summit will be held from April 12-13, 2023 as a virtual event.

The Social Media Strategies Summit (“SMSI”) will provide a stage to learn about real-life case studies that offer practical insights into generating fresh, creative ideas for social campaigns. SMSI will feature a mix of industry experts who will share advanced social media strategies to grow online communities for SMEs.

As the leading social media conference for social media service and solution providers, SMSI offers a unique opportunity to engage with a targeted audience of decision-making first responder specialists. This virtual social media summit series will offer marketing inspiration led by senior-level executives from across the world.

Highlights

• Learn the intricacies of a winning social media strategy
• Evaluate social media initiatives through discussions and real-life feedback
• Revive strategy framework
• Nurture a cache of resources, tools, and connections
• Experience an exclusive online assembly of cross-industry, senior-level marketers.

Being Social Media Champion With SMSI

Investing in professional growth is the best way to enhance skills, stay informed, and connect with experienced industry experts. SMSI continues to be the leading social media marketing conference for marketers. This virtual conference summit will help marketers with social media marketing challenges in the current scenario.

SMSI offers a great opportunity to learn the best practices in social media marketing from a mix of experienced award-winning agencies and in-house practitioners. Attendees will get a 360° view of what it takes to implement an effective, revenue-driving social media strategy. This virtual event is a chance to participate in interactive sessions and activity-based workshops to deep dive into explicit social media topics. Each speaker is committed to bringing the latest knowledge to help generate winning ideas for social media campaigns.

The Social Media Strategies Summit will bring together leading experts and scholars from around the world. It will provide the opportunity for both senior and young scholars to present their research and take feedback to excel in their careers.

To learn more, please visit https://nnw.fm/xk4l5.

About NetworkNewsWire

NetworkNewsWire (“NNW”) is a financial news and content distribution company, one of 50+ brands within the InvestorBrandNetwork (“IBN”), that provides: (1) access to a network of wire solutions via InvestorWire to reach all target markets, industries and demographics in the most effective manner possible; (2) article and editorial syndication to 5,000+ news outlets; (3) enhanced press release solutions to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of corporate communications solutions. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience comprising investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.

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Prime Harvest Inc. Launches Weed 4 The People Reg A+ Offering to Fund Cannabis Retail and Delivery Expansion Across California

 

• Prime Harvest launched Reg A+ offering, Weed 4 The People, which enables public to invest for as little as $4.20 per share
• Company aims to raise $42M to fund expansion of JAXX Cannabis, flagship store and delivery platform
• Company achievements include 976% revenue growth from 2019-2022, 395% unique customer growth, 60+ brand partners
• Company aims to open 20++ locations across California within five years, recently received approval recommendation for conditional use permit to open retail cannabis outlet in the City of San Diego

Prime Harvest, a tech-focused legal cannabis enterprise and parent company to SoCal’s premier dispensary JAXX Cannabis, recently launched Weed-4-The-People – the company’s Reg A+ offering that allows the public to own a piece of the company for as little as $4.20 per share at a minimum of 100 shares.

Prime Harvest aims to raise upwards of $42M to fund the expansion of JAXX Cannabis, the company’s flagship store, and delivery platform. Options for potential investors range from $420 to $50,000+, with rewards that include equity stake in the company, and in store benefits including instant rebates, cashback incentives, Jaxx tasting room access, bonus shares, and more.

“Weed-4-The-People is a  different type of stock offering; an offering where every single dollar you invest goes toward the acquisition of licensed assets, toward the development our direct-to-consumer mobile app, and the expansion of state-wide delivery,” stated Prime Harvest Founder Duane Alexander in a note on the Reg A+ offering website.

Prime Harvest has been active in the San Diego cannabis space since its inception as a local producer in 2017. The company has since grown to include 60+ brand partners, including iconic brands like Jeeters, STIIIZY, Lime Cannabis Co., West Coast Cure, and Grizzly Peak.

The company’s objective is to continue the development of its upcoming first-in-class delivery service mobile app which promises to strengthen the commercial cannabis pipeline while offering consumers a personalized, data-driven experience. According to Reg A+ offering website, company revenue grew by 976% from 2019-2022, while annual customer growth increased by $696 and unique customer growth expanded by 395%.

Prime Harvest aims to open 20+ locations across California within the next five years. The company recently received an approval recommendation from the San Diego Planning Group for a conditional use permit to open a retail cannabis outlet in the City of San Diego (https://nnw.fm/ryN3B). Unlike previous attempts from different business entities, Prime Harvest’s application took a positive turn due to noteworthy support by the local community during the public hearings process.

Prime Harvest continues to grow its footprint in California by investing in the growth and scale of current licensed assets, focusing on acquisition, compliance management, and direct-to-consumer operations. With an experienced leadership team, a solid business foundation, and a winning track record, the company is strongly positioned to lead California’s rapidly growing cannabis sector.

For more information on Prime Harvest’s Reg A+ offering, visit www.weed4thepeople.com.

For more information, visit the company’s website at www.PrimeHarvestInc.com.

NOTE TO INVESTORS: The latest news and updates relating to Prime Harvest are available in the company’s newsroom at https://nnw.fm/PRIME

About NetworkNewsWire

NetworkNewsWire (“NNW”) is a financial news and content distribution company, one of 50+ brands within the InvestorBrandNetwork (“IBN”), that provides: (1) access to a network of wire solutions via InvestorWire to reach all target markets, industries and demographics in the most effective manner possible; (2) article and editorial syndication to 5,000+ news outlets; (3) enhanced press release solutions to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of corporate communications solutions. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience comprising investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.

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NetworkNewsWire (NNW)
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