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Women's World Banking Brings Making Finance Work for Women Summit to Mumbai

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Women's World Banking Brings Making Finance Work for Women Summit to Mumbai

Leading global nonprofit unlocks women’s financial power and announces the winners of the 2023 Fintech Innovation Challenge

Women’s World Banking, a global leader in advancing financial inclusion for low-income women across the world, is bringing the Making Finance Work for Women Summit to Mumbai, India on 24-25 May 2023. Convening for the first time in person since 2019, the Making Finance Work for Women Summit will provide a space for over 300 leaders in the financial services, investor, philanthropy, policy, and technology communities to come together and discuss innovative ways to economically empower all women through financial inclusion.

“From climate change to the ongoing effects of the COVID-19 pandemic, we continue to face an unprecedented number of events negatively impacting the global economy – often with particularly damaging consequences for women,” said Mary Ellen Iskenderian, President and CEO of Women’s World Banking. “Nearly one billion women across the world still lack access to the formal financial services that would allow them to be resilient in the face of these challenges. The Making Finance Work for Women Summit is one of the ways Women’s World Banking is trying to close the gender gap in financial services.  We will showcase proven solutions that can be adapted by financial services providers and policymakers around the globe.”

At this year’s Making Finance Work for Women Summit, attendees will have the opportunity to hear from leaders such as Stephanie Copus Campbell, Australia’s Ambassador for Gender Equality; Soraya Hakuziyaremye, Deputy Governor, National Bank of Rwanda; and Rajesh Bansal, CEO, Reserve Bank Innovation Hub. Panel discussions will touch on everything from finance for displaced women, to gender lens investing, to the role of the ‘S’ in ESG, providing attendees with a space to both better understand why financial power is vital to economic resilience and see what they can do to unshackle women’s financial power.

“We are lucky to have so many thought leaders gathered with us in India, which is where Women’s World Banking’s story began more than 40 years ago and where we continue to do some of our most impactful work,” continued Iskenderian. “With India holding the Presidency for the G20 this year, we could think of no better location for creating innovative pathways to women’s financial inclusion.”

Women’s World Banking is excited to bring back the Fintech Innovation Challenge as a part of this year’s Making Finance Work for Women Summit programming. The Fintech Innovation Challenge is a global competition to showcase solutions that tackle the persistent challenges in serving low-income women.   The Challenge will culminate on the final day of the Summit where the four finalists – GajiGesa, IndiaP2P, MeraBills, and Paycode, selected from a field of 98 applications from 34 countries – will deliver their pitches to a judging panel comprised of experts from financial services, technology, innovation, and regulatory bodies. The winner will receive a priority pitch slot at the Inclusive FinTech Forum in Rwanda, powered by Elevandi. The Challenge is sponsored by the Bill & Melinda Gates Foundation and Ernst & Young LLP (EY US).

“Fintechs have a unique advantage in addressing the digital financial services inclusion gap for women. This year’s applicant pool was full of innovative companies with exciting business models for addressing the biggest obstacles to women’s financial inclusion,” said Iskenderian. “All four of our finalists, three of which are led by female founders, hold enormous potential to promote women’s economic security and prosperity.”

Women’s World Banking is committed to promoting financial inclusion and bolstering economic empowerment for women. To date, the global organization has increased access and/or usage of financial products and services to more than thirteen million women in emerging markets.  In the last year alone, Women’s World Banking invested eighty-eight million dollars in inclusive finance institutions, reaching over six million women.

The Making Finance Work for Women Summit is presented by Women’s World Banking with support from Leading Sponsor, the Bill & Melinda Gates Foundation and Scaling Sponsor Ernst & Young (EY US). The event is made possible with additional sponsorship from MetLife Foundation, European Investment Bank, The Sasakawa Peace Foundation, International Finance Corporation (IFC), and The United Nations Capital Development Fund. Women’s World Banking is grateful for the ongoing support of its core funders: Australia’s Department of Foreign Affairs and Trade (DFAT), the Swedish International Development Cooperation Agency (Sida), and Visa Foundation.

For more information, follow @womensworldbnkg at #MFWW2023.

About Women’s World Banking

Women’s World Banking designs and invests in financial solutions, institutions, and policy environments in emerging markets to create greater economic stability and prosperity for women, their families, and their communities. With a Global Network reach of 61 financial services providers in 34 countries serving more than 136 million women clients, Women’s World Banking drives impact through its scalable, market-driven solutions; gender lens private equity fund; and leadership and diversity programs.

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Brex Launches New Digital Banking* Products for Startups

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New Checking and updates to Treasury and Vault accounts offer increased saving flexibility and higher yield

New partnership with Column N.A., Member FDIC enables businesses to quickly and easily open new accounts, and avoid transaction fees

SAN FRANCISCO, June 18, 2024 — Brex, the leading all-in-one financial stack supporting 1 out of 3 startups in the U.S.**, today launched new digital banking products and a number of updates to its flagship business account, giving founders access to capital where and when they need it. This launch makes Brex the only spend management platform to marry corporate cards, expense management, bill pay, travel booking, treasury, and banking into one vertically integrated offering.

“Henrique and I started Brex after moving from Brazil to the Bay Area and seeing firsthand the uphill financial battle founders face. Traditional banking is too slow, and even ‘founder-friendly’ neobanks still charge hidden fees and lack global support,” said Pedro Franchesci, Co-Founder and CEO of Brex. “Access to banking and cash is one of the most critical factors for startup success, and we’re proud to be expanding our Banking capabilities to support founders from inception to IPO.”

Brex business accounts now benefit from new advanced security features including comprehensive fraud protection, authentication tools and built-in payment approval flows, all accessible directly from the Brex mobile app with 24/7 support via the app, by phone, or through WhatsApp. Customers can now access three distinct accounts within business accounts to:

  • Confidently open accounts and transfer funds around the world with the new Checking account powered by Column N.A., with no transaction fees on ACH transfers, checks, and domestic wires – plus international wires in over 40 currencies. Opening a Checking account is easy and can be done entirely online.
  • Expand spending power with an updated and fully-integrated Treasury account, making it simpler to oversee and manage funds and earn yield from day one with auto-transfer capabilities and no fees, minimum balance requirements, liquidity restrictions, or waiting periods.
  • Safeguard capital with the updated Vault account, where funds are diversified across more than 20 program banks with up to $6M of total FDIC insurance (20x the national average).

“Banking is highly complicated and heavily regulated, but Column built a new type of bank from the ground up and redefined what a bank could be,” said Brex Head of Startups Jason Mok. “We partnered with Column because their unique approach to banking provides the speed, flexible account model, and API-first approach that no one else can. These aspects are essential to building banking products that power our customersʼ growth.

Brex’s original business accounts launched in 2019, enabling founders to open operating accounts and manage finances from anywhere without ever stepping foot in a bank. And when SVB collapsed in early 2023, Brex and the Brex business account were on the front lines helping founders in new ways. Between March 9 and March 16 2023, Brex took in 4,000 customers and $2 billion in deposits, and within 48 hours Brex established a $1B emergency bridge loan to help impacted companies make payroll. More than 90% of the customers that signed up during the week of the SVB collapse are still active Brex customers, and more than 1/3 of customers now use Brex business accounts.

This comes as the latest of Brex’s commitment to helping the fastest-growing startups get the most out of every moment of their journey from day one. In addition to business accounts, Brex offers a full financial stack for early-stage companies:

  • Get their business off the ground faster by accessing Brex business accounts immediately upon incorporation with Stripe Atlas.
  • Unlock operating capital with higher credit limits — without a personal guarantee — and easily issue corporate cards + reimbursements.
  • Pay vendors faster with automated bill pay and simplify all of your onboarding and payment processes.
  • Extend their runway with over $400K in discounts, founder-friendly rewards, exclusive invites to events with VCs in our network, and more.

To learn more about this new capability and how Brex is giving founder a competitive edge through Banking, visit: https://www.brex.com/journal/brex-startups-modern-banking

*Brex is a financial technology company, not a bank. Checking accounts and banking services provided by Column N.A., Member FDIC. Treasury and Vault are offered by Brex Treasury LLC, Member FINRA and SIPC. Vault accounts allow customers to sweep cash into program banks. Brex Treasury is not a bank nor an investment adviser. Yield is variable.
** Market share of customers activated on Brex out of all US-headquartered startups with <50 employees and have raised a professionally invested round in the last 8 quarters.

About Brex
Brex is the AI-powered spend platform. We transform finance teams from reactive no-sayers to proactive growth drivers. With Brex, companies spend with confidence by empowering employees to make smarter financial decisions from anywhere. Brex provides corporate cards, business accounts, and global payments, plus intuitive software for travel and expenses, that make it easy to plan and track all company spend in one place, in real time. Tens of thousands of companies from startups to global enterprises — including DoorDash, Flexport, and Compass — use Brex to proactively control spend, reduce costs, and increase efficiency on a global scale.

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Flex and Yardi Unveil Seamless Rent Payment Integration in RentCafe

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Partnership offers Yardi clients a fully integrated rent payment solution, empowering residents with financial flexibility.

NEW YORK, June 18, 2024Flex, a leader in financial wellness solutions, is proud to announce a new strategic partnership with Yardi®, a leading property management software provider. This collaboration provides residents with unprecedented payment flexibility and simplicity, embedded in the RentCafe resident portal.

“At Flex, we are committed to simplifying the rent payment process for residents and property managers alike,” said Shragie Lichtenstein, CEO and Co-founder at Flex. “Our partnership with Yardi allows us to deliver a seamless, integrated experience that not only enhances resident satisfaction but also improves operational efficiency for property managers.”

The integration allows residents to split their monthly rent into smaller, more manageable payments, ensuring property managers receive the full amount, when it’s due. Residents can discover and sign up for the payment option directly within their RentCafe portal. Once registered, the Flex service is immediately available to residents, with no additional work or cost for onsite teams.

“Integrating Flex’s innovative payment solutions within RentCafe helps our clientsmeet the expectations of today’s renters,” added Patrick Hennessey, Vice President and General Manager at Yardi. “Personalizing the rent payment process is a crucial step towards enhancing our overall customer experience.”

“Flex is the only company to work directly with both property management companies and their underlying management software to offer the best possible flexible rent payment experience,” continued Lichtenstein. “Now, by embedding Flex directly into RentCafe, we are setting a new standard for accessibility and convenience.”

Flex has facilitated over $8 billion in on-time rent payments for thousands of property management companies across the U.S. By implementing Flex’s solutions, property managers can increase resident retention and boost NOI, while residents benefit from improved cash flow. This dual advantage strengthens the financial stability of both property management companies and the communities they serve.

About Flex
Flex is a leading financial services company that allows residents to split their rent and build their credit. Trusted by over 1,600 property management companies and offered in more than 6 million units nationwide, Flex has paid more than $8 billion in on-time rent. By integrating seamlessly with major property management systems, Flex offers a simple solution that supports operational efficiency and creates a superior resident experience.

About Yardi
Celebrating its 40-year anniversary in 2024, Yardi® develops and supports industry-leading investment and property management software for all types and sizes of real estate companies. With over 9,000 employees, Yardi is working with clients globally to drive innovation in the real estate industry.

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Acquisition

Fifty 1 Labs, Inc Announces Acquisition of Drago Knives, LLC

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Company adds another patent to its portfolio with acquisition

MELBOURNE, Fla., June 18, 2024Fifty 1 Labs, Inc. (OTCPK: CAFI), a leading company in the sports supplement, sports equipment, and health and wellness industries, is thrilled to announce the acquisition of Drago Knives, LLC, a Florida-based company specializing in innovative throwing knives. Founded by Dragan Zivotic, a former member of the Serbian Army and an expert in knife throwing, Drago Knives plans to make significant contributions to the sports and outdoor equipment sector with its patent-pending design for throwing knives.

The acquisition of Drago Knives, LLC, marks a significant milestone for Fifty 1 Labs as it expands its portfolio into the growing market of throwing knives, an ancient practice with a rich history that dates back to prehistoric times. Historically, throwing knives have been used across various cultures for hunting, combat, and sport, evolving over centuries into a popular activity for enthusiasts and professional competitors alike.

Drago Knives, LLC, will distinguish itself in this market with a unique patent-pending design that enhances the throwing knife experience. This design allows users to correctly place their fingers and hand on the knife, enabling quick proficiency in knife throwing—a skill that combines art, sport, and precision. This innovation not only honors the traditional aspects of knife throwing but also brings a modern twist that appeals to beginners and experienced throwers.

“We are excited to welcome Drago Knives into the Fifty 1 Labs family. This acquisition aligns with our commitment to providing high-quality, innovative products to our customers,” said Robert Clark, CEO of Fifty 1 Labs, Inc. “Dragan Zivotic’s expertise and passion for knife throwing have led to the creation of a product that we believe will set a new standard in the industry.”

Throwing knives are currently sold in select sports equipment stores, online retailers, and specialty shops across the United States and are gaining popularity among a wide range of consumers, from outdoor enthusiasts to professional athletes. The growing interest in throwing knives as a sport and hobby is evident in the increasing number of competitions and clubs dedicated to knife throwing, indicating a bright future for this segment.

Fifty 1 Labs, Inc is committed to leveraging its resources and network to further enhance the Drago Knives brand, expand its distribution channels, and introduce the sport of knife throwing to a broader audience.

About Fifty 1 Labs, Inc (CAFI)

Fifty 1 Labs, Inc. (Ticker symbol: CAFI), a publicly traded entity presently in the process of a name and symbol transition to become Fifty 1 Labs, Inc. from Consumer Automotive Finance, Inc. This transformation accompanies the company’s ownership of three distinct subsidiaries entrenched within the domains of sports supplementation, fitness apparatus, and the realm of holistic well-being. These subsidiaries encompass 51, LLC, a distinguished brand specializing in sports supplementation; The Quickness, the proud bearer of a patent for pioneering athletic training equipment, meticulously crafted to amplify linebacker development; and Astound NMN, a beacon of excellence within the anti-aging sector, heralding the era of DNA reparation through its premium supplements. Guided by an unwavering commitment, Fifty 1 Labs, Inc. remains at the forefront of ingenuity, consistently presenting avant-garde solutions infused with state-of-the-art technology, poised to empower individuals in their pursuit of fitness and holistic health aspirations. Furthermore, Fifty 1 Labs, Inc. remains actively engrossed in the pursuit of strategic acquisitions, aimed at fortifying its portfolio by incorporating profit-generating enterprises into its fold.

About Drago Knives, LLC

Founded by Dragan Zivotic, Drago Knives, LLC, is based in Florida and specializes in the design and manufacture of high-quality throwing knives. With a patent-pending design, Drago Knives aims to make knife throwing accessible and enjoyable for everyone, from beginners to seasoned throwers.

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