Tag Archives: Financial

Connecticut-Based Investment Group and State Officials Visits Hartford Location

HARTFORD, Conn., Jan. 25, 2024 /PRNewswire/ — Covr Financial Technologies, a leader in insurance technology, hosted a gathering of investors and politicians in their new Hartford office. The event, attended by State Senator John Fonfara, State Representative Holly Cheeseman, and Advantage Capital investors, spotlighted Covr’s growth of jobs and innovation in the state of Connecticut.

Covr’s approach to reshaping the insurance landscape through cutting-edge technology took center stage. With a focus on simplifying the…

Connecticut-Based Investment Group and State Officials Visits Hartford Location

HARTFORD, Conn., Jan. 25, 2024 /PRNewswire/ — Covr Financial Technologies, a leader in insurance technology, hosted a gathering of investors and politicians in their new Hartford office. The event, attended by State Senator John Fonfara, State Representative Holly Cheeseman, and Advantage Capital investors, spotlighted Covr’s growth of jobs and innovation in the state of Connecticut.

Covr’s approach to reshaping the insurance landscape through cutting-edge technology took center stage. With a focus on simplifying the insurance purchase journey, Covr aims to enhance efficiency and accessibility….

SILICON SLOPES, Utah–(BUSINESS WIRE)–Domo, Inc. (Nasdaq: DOMO) today announced results for its fiscal second quarter ended July 31, 2023.

Fiscal Second Quarter Results

• Total revenue was $79.7 million, an increase of 5% year over year
• Subscription revenue was $71.2 million, an increase of 6% year over year
• Subscription revenue represented 89% of total revenue
• Billings were $70.6 million, a decrease of 2% year-over-year
• Remaining Performance Obligations (RPO) was $357.6 million as of July 31, 2023, an increase of 2% year over year
• RPO expected to be recognized as revenue in the next 12 months was $232.1 million as of July 31, 2023, an increase of 3% year over year
• Net cash provided by operating activities was $0.6 million
• GAAP subscription gross margin was 84%, consistent…

Trading and connectivity solutions provider TRAFiX has tapped Transaction Network Services (TNS) to expand its order execution and routing management systems on TNS’ Dedicated Server across all major Canadian financial exchange markets.

TRAFiX will leverage the full-stack TNS Dedicated Server offering based out of the Equinix TR2 Data Center in Toronto and will also use the recently launched TNS Cloud Server Management…

The global fintech space is the very embodiment of a growth market, with forecasts suggesting that it will achieve a total value of $556.58 billion by the year 2030.

To provide further context, this sector was worth around $133.84 billion at the end of 2022, with the market forecast to grow at a CAGR of 19.50% over the course of the next seven years.

This accelerated growth has much to do with the evolution of fintech and that stage that it has been able to reach, with the next decade likely to see the widespread integration of financial technology and APIs and the fusion between traditional and digital banking.

Appraising the Five Stages of Fintech

Let’s start by considering the five described stages of fintech, the fourth of which arguably began in earnest in 2022….