Tag: Business

August 26: JFL Life Sciences Limited, engaged in the business of manufacturing pharmaceutical products having experience of more than a decade, is all set to raise Rs 1,816.58 Lakhs through an initial public offering (IPO). The issue opens on the 25th of August and will be listed on NSE Emerge.

The public issue of JFL Life Sciences Limited is of 29,78,000 equity shares of Face Value ₹10 each (“EQUITY SHARES”) for cash at a price of ₹ 61/- per equity share (including a securities premium of ₹ 51/- per equity share) (the issue price) aggregating ₹ 1,816.58 LACS of the issue. 1,50,000 equity shares aggregating to ₹ 91.50 Lakhs will be reserved for market maker (“Market Maker Reservation Portion”). The issue, less the Market Maker Reservation Portion, i.e., issue of 28,28,000 equity shares of Face Value of ₹ 10/- EACH at an issue price of ₹ 61/- per equity share, aggregating to ₹ 1,725.08 Lakhs, which is hereinafter referred to as “The Net Issue”. The issue and the Net Issue will constitute 27.08% AND 25.71%, respectively of the post issue paid up equity share capital of the company. The company will list at NSE Emerge. The Lead manager of the issue is GYR Capital Advisors Pvt Ltd and the Registrar to the issue is KFin Technologies Ltd. The issue opens on the 25th of August and will close on the 30th of August, 2022 and will subsequently be listed on NSE Emerge.

The company intends to utilize the proceeds of the Issue to meet the following objectives:

1. Repayment of secured and unsecured loans
2. Funding the working capital requirements of the company
3. General Corporate Purposes

JFL Life Sciences Limited is engaged in the business of manufacturing pharmaceutical products. Their product portfolio consists of Dry powder injections (B-Lactam), Tablets & Capsules (B-Lactam) solid oral dosage form and Tablet and capsules (general) Solid Oral Dosage Form and Oral rehydration solutions (ORS). With market presence in pan India, products of JFL supplies to 10 developed and developing countries throughout the World. To maintain its competitiveness and to further the cause of health care JFL has laid a strong R&D foundation and an FDA approved state of the art manufacturing facility near Ahmedabad.

The Company has registered their products to manufacture in various countries like sovereign of Kenya, Nigeria, Yemen & Myanmar. Few of their products are also registered with Ukraine, Uzbekistan, and Kazakhstan as well. This also makes them a ‘one-stop-shop’ service provider for catering to all of the customer’s needs domestically as well as internationally.

The promoters, Mr. Smiral Ashwinbhai Patel and Tejal Smiralbhai Patel are actively involved in the day-to-day business of the company and are the guiding force behind the strategic decisions for the Company. Their management team and other key management personnel are well qualified and have extensive industry expertise, and have been responsible for the operational growth.

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August 26: The life of HRs has now become easier with automated and well-structured business processes. Ultimate Business Systems – a startup originally launched to solve the internal problems that a company encountered while managing its workforce efficiently.

Some companies are still using old-school traditional practices to manage their teams. Many SMEs and startups lack management due to no or improper technology. UBS is developed to cater to the needs of all such small and mid-sized organizations. It helps organizations automate and simplify core HR administrative tasks.

UBS, with an agenda to make business administration easier, is on a mission to help startups and SMEs boost productivity, enhance processes and maximize their business potential with all-in-one HR automation software.

A software that benefits both the employees and the employers in managing work and the company efficiently. With top-notch management, unmatched internal communication, and an efficient PMS, UBS can help organizations traverse the path of being successful and well-structured/managed organizations.

Alpesh Vaghasiya (CEO & Founder of UBSApp) shared – “In the post covid era where most of the companies were struggling to manage their remote workforces, UBS understood the pain points of the companies and delivered the solution to ease the lives of the HRs. With a desire to be the best, now UBS has 200+ clients onboard and all with utmost satisfaction”

Not only in the private sector, but UBS is also expanding its services to government agencies and NGOs where communication and management are chaotic. Since government agencies and NGOs are not much digitized, management is a bit hectic. Therefore, UBS provides a top-notch solution to streamline its processes and improve productivity.

Today, UBS is one of the best HRMS platforms in the industry and number #1 in Surat with most of the customers adopting this platform for the betterment of their organization.

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Vidhi Vikram Kamat, Managing Director, Vidli Restaurants Limited

August 26: Vidli Restaurants Limited has announced the migration of its Equity Shares from the BSE-SME platform to the main board, effective from August 23rd, 2022. The company debuted on the Bombay Stock Exchange in the year 2017 under the SME segment and witnessed one of the most successful initial public offerings (IPO) listings. Vidli Restaurants Ltd. operates through the brand ‘Kamats’, popularly known as the food people with a legacy of over 80 years. The company manages over 36 restaurants in the quick-serve format at various locations on highways and cities.

Commenting on the listing, VidhiVikramKamat, Managing Director, Vidli Restaurants Limited, said, “We are delighted to achieve yet another milestone, just 5 years since the first listing on BSE. The migration to BSE’s main board will further boost confidence among all stakeholders. It is a matter of immense pride that we have witnessed significant growth in the last 7 years and have remained profitable even during the Covid-19 pandemic. We would like to thank all our shareholders, directors, partners, vendors, investors, and employees for the immense trust reposed in us, which has made this journey memorable. We will continue our growth trajectory in the coming years through dedicated efforts and constant innovations”.

Vidli Restaurants Limited is part of the VITS-Kamats Group, a renowned name in the Upper Mid-scale Hotel and Restaurant segment in India. The group operates its hotels under VITS PremiumFull Service Hotels & Resorts and Economy class – Business & Leisure Hotel by the name of “VITS Select S”, the 3-star category chain. The company manages premium Food & Beverage Brands that include Kamats Original Family Restaurants, Kamats Legacy – Premium South Indian Food, VithalKamats Original Family Restaurants, Pepperfry by Kamats – fine dining restaurant and Urban Dhaba – authentic Punjabi cuisine. Visit:https://www.kamatsindia.com/

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August 26: Since the beginning of 2022, the global stock market has been noticing a downward trend. The amount of money investors have lost is so large that providing an exact figure would take up the entirety of this page. But there are still some instruments that are giving positive returns despite all the negativity.

The market is a complex system of individual, professional, and institutional investors who make decisions based on their own viewpoints and interests. Just like in any other market, the law of supply and demand is valid in this market too. Some factors, like the rate of inflation, have the potential to drive the market higher or lower. Other factors, such as corporate earnings, may cause a single firm or an entire sector to change direction, says Rajesh K – Director – Aliceblue.

Individual investors must consider their unique investing horizons and stock holding capabilities when deciding where to invest for the best results. Shorter investment time frames are riskier due to higher volatility in stock prices.

The Indian stock markets are ripe with possibilities for generating capital. Many investors put their money in the stock market in order to build wealth over a long time. Thus they are likely to remain committed for a period varying from a few months to many years. Meanwhile, short-term investors can make money by trading instruments for short periods of time. Intraday traders, in particular, focus on the short term and close out their trades within a single trading day.

Equities are the most often traded and invested assets on the Indian stock markets. Stocks in India are just one of the many financial instruments available for trading on the exchanges.

There is a clear correlation between the amount of risk and the amount of profit. The smaller the risk, the lesser the returns, whereas the higher the risk, the higher the returns. Market-linked investments, as opposed to fixed-income products, are required if one wishes to achieve sizable returns. It is aptly said, buy fear and sell greed; good news and favorable prices are incompatible. However, the environment has changed dramatically; interest rates will only rise further, crude and energy costs have risen, and demand has been crushed. As a result, the framework has been completely altered as per Mr. Rajesh K – Director – Aliceblue.

Despite all the chaos, derivatives are the instruments that can help investors and traders bring some positivity to their portfolios. According to the most recent estimates, the derivatives market has a notional value of more than 1 quadrillion dollars on the high end, but by some analysts, this value is widely overestimated. As of 2021, there is a significant disparity between the notional and actual netting value of derivatives—$600 trillion against $12.4 trillion.

The real size of the derivatives market is determined by what a person perceives to be a part of the market and hence what data is included in the calculation. The higher estimates are obtained by adding the notional value of all accessible derivatives contracts.

Some analysts indeed believe that calculating the value of derivative contracts based on their underlying assets, such as stocks or bonds, does not adequately reflect market value, but there are others who believe that such a calculation does reflect reality.

Derivatives are effectively legally binding contracts between parties that are purchased or sold as bets on (or hedges against) the future price movements of the underlying securities. Therefore, the prices of derivatives depend on the values of their underlying assets.

A point to note here is that, although derivatives are instruments to hedge your positions and minimize your risks, they are only effective if done with proper knowledge and after understanding all the consequences. Alice Blue does not recommend any particular instrument; instead, they provide the necessary insights on the same, and you may take your stand later on.

Alice Blue has been working innovatively toward derivatives trading and has introduced various tools that help you hedge your positions effectively. Visit their website to learn more https://aliceblueonline.com/.

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August 25: Felicitous Group, a media and IT business investment company having its presence in Bangalore and Mumbai, has announced the launch of its mobile application and website to serve as a one-stop solution for executing the unique ideas of the individuals and creating more job opportunities in the media and IT sector. Our company has a clear agenda that we will not take any money from any Individuals or firms but rather connect them with the right resources.

Felicitous Group, which is a new venture, aims to connect with deserving people through its application and website and has big expansion plans in the technology and media industries.

“India has an abundance of people with unique ideas. We want to tap such people through our application and website and execute their ideas in the media and technology industries” said Shailendra Kumar Jha and Bibek Subedi, founders of Felicitous Group. “We are looking for a major expansion in the U.S and UK markets after the launch of the website. Ours is a new venture and we are looking at every possibility to grow in the technology and media space.”
“Felicitous Group is working in line with the Government policy of creating more jobs for the youths of the nation,” said Jha & Subedi.

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August 25: Startup Reporter India launched a 75 Indian Startup Founder Stories campaign on August 15, 2022. It was done specifically on this day because India has completed 75 Years of independence. The campaign’s objective was to honor and encourage all startup business owners and co-founders who have invested a lot of time and energy into developing their companies, and to showcase the diversity of the Indian Startup Ecosystem. Their histories, sacrifices to build their enterprises, and contribution to the Indian Startup Ecosystem, with Startup India, also completing six years this year. Most Startup Founder’s story goes unnoticed due to various reasons. Startup Reporter team shortlisted a few founders whose stories must be heard. We got support from AICs like AIC BIMTECH & AIC Nalanda to get more startups. The initiative also showcases the oldest song, “Mile Sur Mera Tumhara”, along with a message shared by founders published on Startup Reporter YouTube Channel and Instagram.

Startup Reporter is a platform for online media interaction that showcases the newest company ideas and startup success stories. It is a business-focused news network. Consequently, it intended to use the 75 Indian Startup Founder Stories campaign to highlight developing businesses and show appreciation for their labor of love. Startup Reporter also highlights PR professionals who play a vital role in branding and marketing. The shortlisted names, along with their Designation, are listed below.

Vibha Narshana, Founder, Partra

Shruti Aggarwal, Founder, The Startuplab

Tejas Rathod, Co-Founder, Mobavenue Media Pvt Ltd

Sudipta Sengupta, Founder, The Healthy Indian Project

Amber Srivastava, Founder, Zyvka Global Services

Pramey Jain, Co-Founder & CEO, TartanHQ Solutions Pvt Ltd

Vineet Sharma, CEO & Co-Founder, FleetX

Kapil Batus, Founder, d’hybrid

Dr. Nilesh Modi, Co-founder, Fractal31 Private Limited

Madhur Mohan Malik, Founder, Startupnews.fyi

Vivek Kumar Srivastava, Founder, Viskin Pharmaceutical Pvt Ltd

Shreya Sharma, Founder, Rest The Case Services Pvt Ltd

Akansha Sharma, Founder, CITTA (Lexicon Lifestyle Pvt.Ltd.)

Deepti Sharma, Co- Founder, ThinkerPlace Pvt. Ltd.

Neeraj Sharma, Founder, EduCrack Private Limited

Jasdeep Singh, Founder & CEO, TransportSimple

Prahllad Mittal, Founder, Homvery

Arun Kumar, Co-founder, Medxpress

Ritesh Kumar Sharma, Founder, Orderplz

Yogesh Dhingra, Founder, Smartr Logistics

Aditya Kale, Founder, Airattix Storage

Vijender Reddy, Co-Founder, Drinkprime

Vishal Saurav, Founder, VFLYX India

Rajesh Chandan, Founder, India Shoppe

Ankur Srivastava, Founder, QI MEDIA

Pragati Agarwala, Founder, Three Fourth Solution

Sahana Rai, Founder, Glocal Brand Solution

Neha Bahri, Founder, B Connect Communication

Snehal, Founder, PR Chorincle

Manjul Wadhwa, Founder, Anagram Media Labs

Sonali Sokhal, Founder, Intelliquo

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August 25: Achieving an expert status in the industry despite the tremendous competition all around requires a lot of excellence. These industry experts have set themselves apart from the layperson by acquiring extreme proficiency in their respective industries and are continually offering optimal value through their experience and excellence. Fame Finders Media has revealed the names of the Top 20 Industry Experts of the Year 2021-22, who have made the nation proud with their remarkable works.

1. RAHUL SUDAN – Direct Selling Expert

Mr. Rahul Sudan is a Chief Editor of Direct Selling Today Magazine. India’s first direct selling trade magazine focuses on providing the latest updates about Indian Direct Selling Industry to their trusted 20,000+ Subscribers. Over 20+ Industry experience across various domains such as setting up Direct Selling Businesses, Conduct Events for providing one-to-one guidance to the Management of various Direct Selling Start – Ups and Expert advice on the feasibility of a business idea.

2. TARUN SHARMA – Motivational Corporate Speaker

Tarun Sharma is a renowned Motivational Corporate Speaker, Happiness Guru, & Philanthropist who is transforming lives through his power sessions & innovative techniques. Since 2002, he has mentored thousands of Top Executives of R.B.I., ONGC, NMDC, SAIL, Maruti, DRDO, and DLF, to name a few & 5,000 + Principals & Teachers from various Schools. For the last 15 years, his NGO (The Rising) has educated 2,000 + underprivileged kids & is constantly changing the lives of many more.

3. JASON FERNANDES – Crypto Expert and Co-Founder, AdLunam

Jason Fernandes is a Web3 investor and entrepreneur hailing from Goa. While studying at the University of Texas, Austin, Fernandes co-invented the Internet-based DVR, RecordTV and went on to start, advise and invest in multiple award-winning companies in the technology/Web3 space. For his work promoting social/financial inclusion through blockchain, Fernandes was conferred with the Karmaveer Chakra by the United Nations in 2019. He has also been awarded the Seaside Startup Summit 2018 Award, Startup@Singapore Award, and the First National Technopreneurship competition Award (Singapore) among others for various entrepreneurial pursuits.

4. SURAJ MORAJKAR – Realtor, Builder, and Hotelier

Suraj is known in Goa for the luxury homes he has built for celebrities like actors Neha Dhupia, Chunkey Pandey, cricketer Yuvraj Singh, designer Ritu Kumar, Eicher Motors MD, Vikram Lal, and former CEO, Café Coffee Day, Naresh Malhotra, to name a few. He also owns two luxury hotels Sol De Goa and Hilton Goa Resort Suraj started Sun Estates Developers in 1996. Sun Estates has completed projects worth more than Rs.3000 crore.

5. DEEPAK BANSAL – Educationist

With a motto to enhance employability, Mr. Deepak Bansal trustee of RK Educational Trust launched academic programs leading to careers in media, entertainment, arts, design and communications. The institutions under RK Educational Group offers a range of certificate and diploma programs. The group is also associated with the Delhi University as training partner for over 20 course programs. With over a decade of experience in the education industry, Mr. Deepak Bansal has led the institution to attain a leadership position that speaks volumes about its enduring commitment, outstanding faculty, and rich learning environment. 

6. TONISHA PAWAR – Fitness & Image Consultant/Personality Coach

She is a fitness enthusiast and a certified Pilates trainer from Balance Body, U.S.A. LIVE IT UP is a place that helps inspire and design the minds of people from all walks of life, to achieve more and shine. It can bring a metamorphosis in your lifestyle through fitness, a sense of style in dressing & grooming, etiquette, dialect, or diction. Through LIVE IT UP, she intends to unleash the real you, break all barriers and mind blocks, empower and transcend to make every life a masterpiece.

7. SHAHNAZ SHEHAB TOWHEED – Training and Development Expert

Psychology Graduate, master’s in computers Having 12 years in Corporate Sector and Still continuing, and 7 years as Educationist, Passionate about grooming young guns of India Started with Student Employability and transformational Programs with Universities/Colleges on Different aspects of Personality development and communication Skills, Whatever I am today is the blessings of My late Mother and My father, Siblings, and support of my Husband.

8. PRAVEEN SINGH – IT Professional, Author, Life Coach, and a Speaker

Praveen Singh’s first book, “PARENTING PIE – Learn the secret ingredients for Teens,” has been very well appreciated. She has given many webinars and sessions on parenting and women empowerment. Several digital media channels have interviewed her for her work. She has won many awards and accolades and has been involved in regular Social Volunteering activities focusing on Education and Training for kids and young adults.

9. POORVA GUPTA – Life Coach

Poorva Gupta, a Breakthrough maven, helps people struggling with challenging situations, by breaking through their inner barriers, resolving confusion, and developing resilience. Around 20 years back, Poorva was diagnosed with Alopecia, an autoimmune disorder. Since then, she has come a long way. She now works with people suffering from autoimmune disorders. She helps them enhance their appearance, increase confidence, handle bullying, and achieve success in all areas of their life.

10. SHRUTI BARBHAYA – Mental Wellness Coach

Shruti is a psychotherapist, Sound Therapist, NLP & Gestalt Master Practitioner. She started Takshati Alchemy to help people who struggle with relationships, single parenting, divorces, and daily life struggles. She also takes public workshops and corporate, school, and college training to help promote good mental health. She aims to make people realize that life is to live and to be happy. Her determination has made her reach out to thousands of people who have attended her training and therapy and have successfully found a new way to live their life.

11. RUCHIKA RASTOGI – Language Skills Expert

She started Learn N Grow with a vision to provide quality education to people so as to make them adopt English as a life skill in their daily routine and not just as yet another subject. The founder aims to make people excel in Reading, Writing, Speaking and Listening skills. Today, her determination and optimism have led her brand to the heights of success.

12. SHILPA SALVE – Holistic Wellness Expert

Shilpa Salve is Holistic Wellness Expert over 19 years of experience. Her unique approach catalyzes transformation on four levels: mind, body, emotions and spirit through mixture of yoga and modern techniques. She has alleviated thousands of people out of lifestyle disorders like Thyroid, PCOS etc. Shilpa’s eccentric approach to spread awareness towards self-health is impactful.

13. NEELIMA THAKUR – Networking Expert

With over decades of experience providing writing, PR, and marketing services for eminent brands like Zee News and Doordarshan. Neelima Thakur has become a renowned name in the industry. She helps emerging businesses wide-spreading their recognition worldwide through print media articles. She organizes promotional events for the association and tie-ups for the social cause.

14. Dr. DIVYA TANWAR – Cyber Security Expert

Dr. Divya Tanwar is a Ph.D. in Computer Science, M.Phil., M.C.A., M.B.A. and B.Sc. (Electronics), and is a distinguished academician with over a decade of experience teaching computer science to B.C.A. and M.C.A. aspirants. She is an author, cyber security expert, and also an active social worker.

15. CHAITALI HIMANSHU JHAVERI – Healing Therapist

Chaitali Himanshu Jhaveri is a Magnified Healing teacher. She has been honored with international accolades. Through her own brand, Cosmic Healings, she trains people in various healing modalities like understanding the chakras, Access Bars, Magnified Healing, Lamafera, Past life Healing, and Reiki so that they sort out their problems and learn how to reduce negativity from life. Through her workshops, she helps people learn how to remain positive and give the maximum energy to every kind of work that they do and be successful. 

16. BRINDHA GOVINDAN – Import-Export Business Consultant

Brindha Govindan is the International supplier of Rice Spices Sugar in Bulk quantity, Mediator for Iron Scrap & copper scrap metals. She is the Business Consultant for Incorporation of the companies in Singapore, Malaysia, UAE, USA, and the UK & for the import Export Business. She is a Strong business development professional who graduated MBA from Madurai Kamraj University and is skilled in Consumer Products, Sales, Marketing Analytics, International Sales, Branding and Product Marketing Globally.

17. Dr. BAANI YADAV – Rally Driver

Dr. Baani Yadav is a well-known name in Indian Motorsports. She is the country’s top woman rally driver & car racer and the Recipient of 32 Rallies and 28 Awards. Dr. Baani is a double “Asia Pacific Rally Cup – Indian Rally Championship” winner not only in the Ladies class but also stood first in the 2000 CC category, competing against male drivers. She has been twice honoured with National Awards by FMSCI and was adjudged as “Best Sports Person” for the year 2017, by Haryana Government.

18. LOKENDRA MAHAVAR – Social Safeguard Expert

Lokendra Mahavar is the Social Safeguard Expert at LEA Associates South Asia Private Limited and specialized in providing need-based support on the Implementation of Community Development programs, ensuring the early integration of social risk/ impact consideration.

Supervise the setting up and implementation and monitoring plans related to social impacts. Manage the assignment and execution of the social impact assessment perspective in close collaboration with the environmental experts and the project development teams. Coordination with govt. officials, Land Acquisition, and Land Record related surveys.

19. RAVI RAMAN – Life Skills Coach

Mr. Ravi Raman from Nerul, Navi Mumbai is a Life Skills Coach and a Soft Skills trainer delivering sessions for leading organizations Pan India in the public/private sector, including multinationals in six languages English Hindi, Marathi Bengali, Tamil, and Malayalam.

He holds the distinction of representing the Government of India on multiple occasions at the International Labour Conferences at Geneva, Switzerland. He has also been elected as the Worker Bureau Member representing the Asia Pacific Region to speak on behalf of workers at the plenary session of the ILC in Geneva.

20. Dr. GAURAV SHARMA – Educationist

The humanitarian initiative NEKI KI RAAH – an act of devoting oneself to the Upliftment of society has founded by Dr. Gaurav Sharma.

“The actual purpose of life lies in living for others”- is his life’s prime principle. Dr. Gaurav Sharma has been strenuously working for the unprivileged children enabling them to get empowered with the gifts of Education and proper healthcare.

Top 20 Experts campaign is successfully organized, managed, and coordinated by Fame Finders. To know more about our future campaigns, visit us at https://famefinders.in/ or contact at +91 8376073113 or manoj@famefinders.in

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August 25: A comprehensive annual report co-authored by experts at KPMG and HSBC, places Bengaluru-based fintech start-up Jar (the nation’s first micro savings and investments platform) on a select list of ‘Leading 100 Emerging Giants in Asia Pacific’, 2022. The report, which surveys over 11 countries, takes an in-depth look at new economy businesses across the region which are believed to make a lasting impact on the global business landscape over the next decade.

As the report states, consideration for placement on this list is made after intensive market analysis including metrics such as valuations and venture capital received, as well as KPMG and HSBC’s assessment of the future growth potential of these companies.

Jar recently raised $22.6 million as a part of its Series B funding round led by Tiger Global, at a valuation of $300 million. Jar will, in part, use the fresh funds to expand into multiple financial services like facilitating lending, selling insurance products and advising people on investing in financial products from mutual funds to fixed deposits.

In the report, Dan Roberts, Global Head of Business Banking, HSBC, says: “With a fast growing and digitally native middle class, Asia Pacific will continue to be the world’s growth engine. Combined with a very dynamic business environment, this presents tremendous growth opportunities for businesses that can leverage the rapid digitization of this vast ecosystem.”

Jar speaks closely to this large addressable market. The app, links to existing user accounts with any formal bank, automatically rounds up every transaction to the nearest 10th digit number and uses the collected difference to purchase digital gold. And for those who want to automate their savings, Jar lets the user set any amount (starting from Rs.10) to be saved daily and automatically.

Jar aligns with existing behavioral norms such as daily user interactions across digital platforms and leverages India’s long standing confidence in gold as a tangible, mobile and low-risk asset class. Founded in January 2021 by Misbah Ashraf and Nishchay AG, the company’s vision is to inculcate the habit of savings and investments among Indians, thereby helping them achieve financial independence and create wider societal financial inclusion.

Jar launched its first gold-backed savings product in June 2021. The company currently serves over 9 million customers and clocks an average of 220,000 daily transactions.

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August 25:  Crypto-fiat exchange XREX today announced its partnership with Customers Bank, the banking subsidiary of Customers Bancorp (NYSE: CUBI), to expand its fiat gateways and provide users with better U.S. dollar (USD) deposit and withdrawal experiences.

With a mission to redefine banking together, XREX helps cross-border merchants and businesses in emerging markets leverage stablecoins and cryptocurrencies for business payments and access USD globally. This is where XREX and Customers Bank find great synergy; Customers Bank aims to offer a range of banking and lending services to small and medium-sized businesses, professionals, individuals, and families.

“We are excited to collaborate with Customers Bank, a publicly listed bank holding company and also a member of the Federal Reserve System with deposits insured by the Federal Deposit Insurance Corporation (FDIC),” said Wayne Huang, co-founder and CEO at XREX. “XREX bridges blockchain-driven financial innovations with the traditional banking system. Adding Customers Bank to our ecosystem strengthens our confidence to solve dollar shortage issues in emerging markets such as India, Africa, and South America.”

Customers Bank is among the crypto-friendly banks in the U.S. that are forward-looking and open-minded to embracing financial innovations enabled by cryptocurrency and blockchain technologies. With the newly established partnership with Customers Bank, XREX is able to process USD deposits and withdrawals in any ticket size.

“We appreciate that XREX recognized the power and versatility of our Customers Bank Instant Token (CBIT^TM) platform,” stated Christopher Smalley, Managing Director, Head of Digital Bank of Customers Bank. “We welcome the opportunity to work with and support a major player in the global markets as we continue to expand our cryptocurrency and digital asset services.”

Though XREX still sets certain deposit and withdrawal limits for both personal and corporate accounts according to their identity verification level, users can directly approach the XREX team to handle larger ticket sizes.

“XREX is known for its strict anti-money laundry mechanism, identity verification system, and risk management control,” said Robb Layfield, Managing Director, Digital Assets at Customers Bank. “Regulated, compliant, and secure crypto exchanges are always preferred to banks. We look forward to serving more people in developing countries together with XREX, ensuring they enjoy deep USD liquidity.”

On the XREX platform, users can buy, sell, trade, and convert fiat-to-crypto, crypto-to-crypto, and crypto-to-fiat. They can make transactions with XREX’s star feature BitCheck. This online escrow service acts as an independent third party, withholding funds until both parties fulfil their responsibilities in the transaction.

BitCheck is commonly used for business payments, OTC desk trading, and P2P deals. Furthermore, users can now add a contract to BitCheck to document users’ agreed terms and conditions.

To facilitate a secure and trustworthy trading environment with safe fiat gateways, XREX values its comprehensive partnerships with global banks. Today, the newly announced partnership with Customers Bank opens up a new USD gateway that will go a long way toward the path of financial inclusion in emerging economies.

About XREX

XREX is a neo-fintech levelling the playing field by partnering with banks, regulators, and verified individuals to redefine banking together. Our blockchain-driven solutions create a collective financial system that empowers all to participate and contribute to the global economy.

Founded in 2018 and headquartered in Taipei, XREX comprises a team of world-leading experts in cybersecurity, fintech, compliance, and cryptocurrency to offer a full suite of innovative products such as BitCheck, XREX Clubs, and Risk Level Detector to solve the dollar-liquidity shortage issues faced by cross-border merchants in emerging economies.

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The talent management company eyes 50-60% growth and targets closing FY 22-23 at 750 crores

August 25: Spectrum Talent Management, a one-stop solution for global-local human talent management needs, aims to go public in the next couple of years, backed by the growth in the hiring segment. The company closed FY21-22 at 465 crores, which is 55% higher than the previous year’s revenue recorded at 298 crores. The company credits its growth to the rise in demand across segments in the recruitment and staffing business in India as well as globally. Moreover, it was also an outcome of the recoveries/pent-up demand from the Covid-induced lockdowns.

Spectrum Talent Management was incorporated in 2008, with a capital of 2 lakhs each by both directors. With 15,000+ headcount and 465 crores revenue generated, With 9+ offices in India and International offices in USA, UK and UAE, it has delivered phenomenal growth in the last few years. So far, the organization has worked with 300+ clients globally and facilitated 8000+ hirings last year. Even in pre-covid times, the organization achieved close to 302 crores. There is a lot of development and aggressive expansion in the Indian market, including the services and manufacturing industries. The Government’s “Make in India” initiative also fosters tremendous demand in the manufacturing sector, and continuous funding in the technology sector drives solid double-digit growth. This, along with the high global demand for talent, will propel the company’s growth both in India and overseas.

Sharing his insights on the remarkable performance, Mr. Sidharth Agarwal, Director, Spectrum Talent Management, said, “We aim to reinforce Spectrum’s position in the market as one of the leading talent management companies with our unique solutions and quality service delivery. Having achieved 465 crores revenue this year, we expect our business to grow further and look forward to crossing 1000 Crores by FY 24. “

Mr. Vidur Gupta, Director of Spectrum Talent Management, said that “We are now looking to take things to the next level by going public.  We are already in talks with investors to raise funds, and we intend to use the fund for both organic growth and acquisitions. As India moves towards formal employment, the scope of growth is practically unlimited. It’s more about how much one can do on both our fronts, permanent recruitment and contractual staffing. We have a great team with a vibrant experience and well geared to meet our targets”.

The business world remains uncertain due to the ongoing health threat worldwide and the relatively dynamic nature of economies globally. Spectrum Talent Management projects a high growth rate due to the accelerated digitisation and globalisation propelled by the pandemic. Hiring for specialised roles was at an all-time high in the last quarter and is expected to increase in the coming months. In pursuit of delivering the best-in-class HR services, Spectrum has emerged as a frontrunner in the industry.

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