Minneapolis-based Digital Finance Startup DeFiner.org Wins 2019 Detroit Fintech Challenge

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Image result for definer logo mnMINNEAPOLIS–(BUSINESS WIRE)–Less than two years after being conceptualized, Minneapolis-based digital lending & borrowing platform DeFiner.org has beat out 17 other Fintech startups to win one of the industry’s most coveted prizes. DeFiner.org was announced as winner of the 2019 Detroit Fintech Challenge on Sat., Aug. 3. “We are humbled and honored to have received this distinction,” said Jason Wu, Founder and CEO of DeFiner.org, a peer-to-peer lending platform that uses blockchain and smart contract technology to allow safe transactions without a middleman.

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Traive Announces $1.3 Million in Seed Round Funding

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Traieve logoTraive, an ag-fintech that unlocks credit to farmers using a proprietary Machine Learning-based credit risk assessment, announced that it has raised $1.3 million in Seed Round funding.

The new funding comes from The Syndicate Fund (“TSF”) and a mix of investors from the United States, Australia, and Brazil, and will allow Traive to go after the ever growing agricultural lending market. “The wide range of investors and their deep understanding of agriculture and finance symbolizes the need for this type of solution in many different markets.” said CEO and Co-Founder Fabricio Pezente.

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Player’s Health Closes Series A Investment Round to Transform Risk Management and Insurance in Amateur Sports

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Image result for Player's Health Logo“Minneapolis, July 1, 2019 – Player’s Health has secured funding to support growth and capitalize on existing and new opportunities. The investment was made by Eos Venture Partners, a specialist insurance venture capital investor with offices in London and Philadelphia and Boston-based Sports-Tech focused investor Will Ventures.”

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Sezzle Announces Entry into Canadian Market with Disruptive Payment Solution

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“TORONTO and MINNEAPOLISJune 24, 2019 /PRNewswire/ — Sezzle, Inc., the highest consumer-rated installment payment solution, announced today that its platform is now available to Canadian shoppers at thousands of online stores, including Italian sportswear brand Kappa. In the United States, over 3,300 retailers have chosen Sezzle as their preferred installment payment solution.”

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OnRamp Insurance Accelerator Announces 2019 Cohort

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“MINNEAPOLIS-ST. PAUL – June 24, 2019 – The OnRamp Insurance Accelerator welcomed five teams from around the world to the Twin Cities for its inaugural cohort. Rigorously selected by the gener8tor team from a pool of 545 applications, the five teams represent a diverse mix of founders and industries.”

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Target Is Quietly Working On The Blockchain

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Via CoinDesk

“Retail giant Target has quietly entered the blockchain space.

Since mid-2018 the Minnesota-based retailer has been working on a blockchain-powered solution for supply chain management, dubbed ConsenSource. More recently it pledged to support the Hyperledger Grid project, a supply chain framework that earlier saw participation from food giant Cargill, one of Target’s suppliers, together with tech giant Intel and blockchain startup Bitwise.io.”

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Minnesota InsureTech Startup Upsie Raises Another $5M

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Via TechCrunch

“Warranties for purchased products is a $40 billion annual market. But in in their current form, they are considered by some to be one of the bigger scams in the world of retail because they cost so much and often return too little.

Now there is an alternative emerging. A startup out of Minneapolis, Minnesota, called Upsie has decided to wage war on the old warranty, with more reasonable pricing (typically 70 percent lower than what the retailer offers) and a much more modern approach to selling and managing the warranty.”

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Minneapolis Fintech Venture ClickSWITCH Secures $13m Series B

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“MINNEAPOLIS–(BUSINESS WIRE)–ClickSWITCH, a turn-key solution that simplifies and automates the switch of direct deposits and recurring payments for financial institutions’ new and existing account holders, announced today that it has raised $13 million in Series B financing. The funding was led by Commerce Ventures and Point72 Ventures. This round of financing will further accelerate ClickSWITCH’s product roadmap, expand executive leadership, increase headcount within software development and sales teams, amongst other marketing plans for growth.”

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