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Money20/20 Europe Unveils Six Incredible Fintech Startups And Industry Disruptors 

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    AMSTERDAM, NL – June 6, 2024 – Money20/20, the world’s leading fintech show and the place where money does business, has unveiled six startups that are poised to transform the world of money. The selected startups are Flexvelop, Brite Payments, Kore Labs, Nomyx, Velexa, and NALA. The emerging startups were unveiled during Money20/20 Europe’s Startup Media Session on June 5th at the RAI in Amsterdam.

    Money20/20 Europe brings together the most influential figures in the fintech and financial services landscape, unlocking growth opportunities for these startups to transform into industry heavy hitters.

    “Startups have always been at the heart of Money20/20. It has been a real pleasure seeing the early-stage startups begin on our stages before maturing into some of the biggest players in the industry. As the world of money comes together for Money20/20 Europe, we are delighted to showcase startups that we believe will change the future of money, covering the entire gamut of the ecosystem from regulations to infrastructure. It’s a core mission for Money20/20 to identify, support, and elevate startups and we couldn’t be more proud to provide a platform for these handpicked businesses as they continue their growth journey,” said Scarlett Sieber, Chief Strategy and Growth Officer at Money20/20.

    The six startups are:

    Flexvelop is a German flexible financing solution for business equipment, enabling companies to lease technology and purchase it at a reduced price. Thanks to this flexible leasing, rental, and credit model, businesses can trial different equipment to see what best suits their needs, better react to market shifts, and find more cost-effective solutions tailored to them.

    “For Flexvelop, this is the perfect exclusive opportunity to announce our upcoming move towards internationalization across Europe and to promote “Flexing” as a pioneering financing solution beyond the German borders. We are very grateful to the Money20/20 team for this valuable opportunity,“ said Dr. Hans-Christian Stockfisch

    Brite Payments is a Swedish instant payments startup offering smarter, faster, and more financially sustainable ways for payments and payouts thanks to open banking.  Their technology allows funds to be transferred immediately and seamlessly with bank-grade security, minimizing risk for merchants and creating a hassle-free payment experience for consumers.

    It is truly an honor to be chosen by Money20/20 Europe, which has established itself at the center of the European fintech ecosystem, to share our vision for payments and highlight the enormous potential of our out-of-the-box instant payments solution. The regulatory and macroeconomic environment in 2024 is a major catalyst for the growth of Pay by Bank payments. Boosted by fresh funding in 2023, we have now made that crucial step from start-up to scale-up, placing us at the forefront of the movement,” said Lena Hackelöer, Founder & CEO, Brite Payments.

    Kore Labs is a UK-based, award-winning RegTech startup digitizing financial product management to reduce regulatory risks, costs, and time to market for financial products.  Kore serves a wide range of financial institutions, including major European banks, investment managers, and insurance companies.

    “Kore Labs is excited to be named by Money 20/20 as one of Europe’s most promising startups. Our flagship product, KorePRM, continues to be a category-defining product management and governance platform for the financial services industry, already adopted by leading global firms. Kore Labs is disrupting the industry from within, by pioneering a new family of technologies specifically designed to make financial product management more transparent, efficient, and equitable. Kore Labs brings clarity, peace of mind and the power to make fully informed decisions for professionals in this industry – for the ultimate benefit of consumers,” said Sabrina Del Prete, founder and CEO of Kore Labs.

    Nomyx is an American Web3 and AI tokenization startup enabling companies to transform traditional assets into digital tokens in a seamless, secure, and transparent manner. Businesses can tokenize a wide range of assets with Nomyx, such as traditional financial assets, real estate properties, art pieces, company shares, intellectual property rights, and collectibles. Nomyx unlocks liquidity for businesses and provides them with increased flexibility with portfolio management.

    “We look forward to engaging with the global fintech community and showcasing the innovative solutions NOMYX brings to the table. This platform offers an unparalleled opportunity to share our vision for NOMYX and demonstrate how we are revolutionizing the management of digital assets,” said Ubair Javaid, CEO of Nomyx.

    Velexa is a London-based white-label API-based investing platform offering global market access across all major asset classes and currencies. Velexa is the only multi-asset platform that offers a cutting-edge B2B2C WealthTech technology that empowers banks, brokers, wealth managers, and other institutions to embed investing services in their portfolios, delivering a unified personal finance experience for their end users, ultimately making finance less intimidating. In this way, Velexa aims to revolutionize financial literacy and wealth management across Europe.

    “Thank you Money20/20 for selecting us alongside these five stellar startups and for supporting us in making our vision a reality. Wealthtech has the power and therefore the responsibility to enhance financial literacy and accessibility. We’re not just helping Europeans manage their finances; we’re empowering them to embark on a transformative wealth journey. Our partnerships with established banks and neobanks allow us to combine innovation with trust, creating a powerful force for financial initiation, ” said Tamara Kostova founder and CEO of Velexa.

    NALA is an international money transfer app enabling individuals (nala.com) and businesses (rafiki.com) in the EU, US, and the UK to send money to 11 countries in Africa. Payments to Africa are significantly more expensive than payments to any other continent; NALA was built to reduce those fees through fast, reliable, and affordable cross-border payments. NALA has grown 29x in the past 20 months. Earlier this year, NALA turned profitable and achieved 10X revenue growth in the past 12 months. Their team grew from 7 to nearly 100 in this same time period.

    “It’s a great opportunity to share the incredible growth story of Africa, the fastest-growing payment region in the world. Africa’s population is set to grow from 1.2 billion to 2.5 billion, and with 1 in 6 people on the planet projected to be African by 2050, this makes the continent the world’s largest global workforce. Yet, the payments infrastructure in Africa is only 1% built and the opportunity to build the technological infrastructure for Africa’s economic revolution remains largely untapped. This limits global companies like Uber, Netflix and Amazon from operating in the region. At NALA, we’ve made it our mission to build payments for the Next Billion and we’re excited to supercharge this journey with Money20/20.” said Benjamin Fernandes, Founder and CEO of NALA.

    Money20/20’s Startup Media Session was designed as part of its goal to support startups sitting at the intersection of finance and technology. Last year’s winners included Net Purpose, Clima Cash, Eljun, GoKind, KYP, Zing, and Conduit, among others. To learn more about this year’s featured startups, please visit: https://www.money2020.com/

    About Money20/20

    Launched by industry insiders in 2012, Money20/20 has rapidly become the heartbeat of the global fintech ecosystem. Over the last decade, the most innovative, fast-moving ideas and companies have driven their growth on our platform. Mastercard, Wise, J.P. Morgan, SHIELD, Convera, Stripe, Google, VISA, Adyen, and more make transformational deals and raise their global profile with us. Money20/20 attracts leaders from the world’s greatest banks, payments companies, VC firms, regulators and media platforms: convening to cut industry-shaping deals, build world-changing partnerships and unlock future-defining opportunities in Amsterdam (4-6 June 2024), Las Vegas (27-30 October 2024) and in Bangkok (22-24 April 2025).

    Money20/20 also recently launched Twentyfold, a Digital Intelligence product containing the deepest and widest repository of fintech startup data in the world. Money20/20 is where the world’s fintech leaders convene to grow their businesses. Money20/20 is part of Ascential plc. Follow Money20/20 on X and LinkedIn for show developments and updates. We’re Where Money Does Business.

    Follow Money20/20 on Twitter for show developments and updates.

    You can also find us on LinkedIn at Money20/20.

    Contact:
    Tina Loncaric
    Global Head of PR
    Money20/20
    [email protected]
    M: +1 469 288 5556

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    Fanhua Announces Changes to the Board of Directors and Management Team

    2024-10-01T20:35:00Z

    GUANGZHOU, China, Oct. 01, 2024 (GLOBE NEWSWIRE) -- The board of directors (the “Board”) of Fanhua Inc. (Nasdaq: FANH) (the “Company” or “Fanhua”), a leading independent technology-driven financial services provider in China, today announces that Ms. Hang Suong Nguyen has been appointed as the new Chairperson of the Board, effective September 30, 2024..

    Ms. Hang Suong Nguyen, Chairperson of the Board

    Ms. Nguyen has over 10 years of investment management experience. Since October 2019, she has been serving as Deputy Director of International Investment Strategy at Voyager Labs Limited, a global leader in advanced AI-based survey solutions, enabling global organizations to gain in-depth investigative insights on entities, individuals, groups and topics. She also served as vice president of Doji group (formerly TTD Technology Development and Trading Company) from 2016 to 2019. Previously, Ms.Nguyen served as head of investment at VNG Corporation from 2013 to 2016. VNG Corporation is Vietnam's leading local digital AI ecosystem, providing diverse products and services through four key business units: gaming, communications and media, fintech and digital services. From 2010 to 2013, she served in management roles for the Empower Consulting Group. Ms. Nguyen obtained her bachelor’s degree in international business from Vietnam National University in 2008 and her MBA degree from Hanoi University of Science and Technology (“HUST”) in 2009.

    The Board also announces that incumbent independent directors Mr. Yunxiang Tang and Mr. Allen Lueth, along with incumbent executive director Mr. Ben Lin, have tendered their resignations from the Board due to personal reasons, effective September 30, 2024. Additionally, Mr. Lin has resigned from the position of Chief Strategy Officer.

    The Board has appointed Ms. Jiaxing Shi as Independent Director and the Chair of the Audit Committee and Mr. Changfu Li as Independent Director and the Chair of the Compensation Committee to fill the vacancies left by the departure of Mr. Tang and Mr. Lueth, effective September 30, 2024.

    Ms. Jiaxing Shi, Independent Director and the Chair of Audit Committee

    Ms. Jiaxing Shi has served as the Investment Operations Manager at YD Network Technology Co Ltd. since March 2024, overseeing the company’s investment strategy, and financial due diligence to optimize long-term returns. Prior to this role, she served as senior audit professionals at UHY LLP and Marcum LLP from 2022 to 2024. Prior to that, she served as senior manager position in financial reporting and investor relations role at Aurora Mobile Ltd. from 2018 to 2022. She received an MBA Degree in Financial Management from Goldey-Beacom College in 2018 and a Master Degree in Accounting from St. John’s University in 2015. She received Bachelor’s Degree in Inner Mongolia University of Finance and Economics in 2013.

    Mr. Changfu Li, Independent Director and the Chair of Compensation Committee

    Mr. Changfu Li has over a decade of experience in senior management, with a focus on strategic operations and cost management across various industries. Mr. Li has served as a consulting advisor at Beijing Shanying Legal Consulting Co., Ltd since November 2023. Prior to this, he served as a procurement supervisor at Shanghai Sanqing Industrial Development Co., Ltd. from June 2010 to March 2020, where he managed procurement operations and contributed to sales strategy planning. And later he was promoted to Vice President of Administration and Purchasing Manager at the company’s Guangzhou branch in March 2020. Before that, from 2006 to 2010, Mr. Li held the position of procurement associate at Zhejiang Shalangsi Craft Co., Ltd. Mr. Li earned his bachelor’s degree in International Economics and Trade from Yanbian University in 2006.

    With the appointment and departure of these directors, the composition of the Board will be adjusted accordingly. Below is the updated list of board members:

    Ms. Hang Suong Nguyen, Chairperson of Fanhua Inc.

    Mr. Yinan Hu, Vice Chairperson and Chief Executive Officer of Fanhua Inc.

    Mr. Peng Ge, Executive Director and Chief Financial Officer of Fanhua Inc.

    Mr. Mengbo Yin, Independent Director and Chair of Nominating and Governance Committee of Fanhua Inc.

    Ms. Jiaxing Shi, Independent Director and Chair of Audit Committee of Fanhua Inc.

    Mr. Changfu Li, Independent Director and Chair of Compensation Committee of Fanhua Inc.

    Mr. Yinan Hu, Vice Chairperson and Chief Executive Officer of Fanhua, commented: “We are thrilled to announce that Ms. Nguyen has been appointed as our new Chairperson, a decision that signifies a major milestone for the Company’s strategic upgrade towards pursuing growth by harnessing the power of artificial intelligence. At the same time, we deeply appreciate the significant contributions that Mr. Yunxiang Tang, Mr. Allen Lueth, and Mr. Ben Lin have made during their tenure. As we look ahead, our commitment to our strategic goals and growth remains unwavering. With Ms. Nguyen at the helm as Chairperson, we are poised to build upon our momentum and achieve even greater heights.”

    Ms. Hang Suong Nguyen, Chairperson of Fanhua, stated: “It is my pleasure to join the Board and take on the role of Fanhua’s Chairperson. I understand the significant responsibility that comes with this position and I am confident in our Company’s future. And I look forward to working with all of Fanhua’s team members to meet challenges and achieve great success together.”

    About Fanhua Inc.

    Driven by its digital technologies and professional expertise in the insurance industry, Fanhua Inc. is the leading independent financial service provider in China, focusing on providing insurance-oriented family asset allocation services that covers customers’ full lifecycle and a one-stop service platform for individual sales agents and independent insurance intermediaries.

    With strategic focus on long-term life insurance products, we offer a broad range of insurance products, claims adjusting services and various value-added services to meet customers’ diverse needs, through an extensive network of digitally empowered sales agents and professional claims adjusters. We also operate Baowang (www.baoxian.com), an online insurance platform that provides customers with a one-stop insurance shopping experience.

    For more information about Fanhua Inc., please visit https://ir.fanhgroup.com

    Forward-looking Statements

    This press release contains statements of a forward-looking nature. These statements, including the statements relating to the Company’s future financial and operating results, are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by terminology such as “will,” “expects,” “believes,” “anticipates,” “intends,” “estimates” and similar statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about Fanhua and the industry. Potential risks and uncertainties include, but are not limited to, those relating to its ability to attract and retain productive agents, especially entrepreneurial agents, its ability to maintain existing and develop new business relationships with insurance companies, its ability to execute its growth strategy, its ability to adapt to the evolving regulatory environment in the Chinese insurance industry, its ability to compete effectively against its competitors, quarterly variations in its operating results caused by factors beyond its control including macroeconomic conditions in China. Except as otherwise indicated, all information provided in this press release speaks as of the date hereof, and Fanhua undertakes no obligation to update any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although Fanhua believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that its expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results. Further information regarding risks and uncertainties faced by Fanhua is included in Fanhua’s filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F.

    CONTACT: For more information, please contact:
Fanhua Inc.
Investor Relations
Tel: +86 (20) 8388-3191
Email: [email protected]

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