5 things to know in #MiamiTech: NovoPayment’s product launch with Visa, INSIGHTEC milestones and more news of note
1 NovoPayment launches payments product with Visa
Miami-based NovoPayment, a banking as a service startup, has partnered with Visa, the global leader in digital payments, to launch a new product called “Prepaid in a Box.”
The product provides issuers the ability to deploy instant virtual account and disbursement programs in as little as 10 weeks, accelerating the transition to fully digital delivery models in the Latin America and Caribbean region, the companies said.
“Our combined vision couldn’t have come to reality at a more relevant time,” said Anabel Perez, co-founder and CEO of NovoPayment of the partnership between the two companies. “Prepaid in a Box embodies our philosophy of accelerating and enabling digital payments, breaking many barriers for issuers of all sizes via our combined enablement of digital banking, payments infrastructure and card solutions.”
NovoPayment was founded in 2007, and grew rapidly under Perez’s leadership even while bootstrapping for a number of years. The company became part of the global Endeavor network in 2014 and Perez is now part of the Endeavor Miami board. NovoPayment has 280 employees globally, and more than half are female, Perez said.
NovoPayment, formerly bootstrapped, raised venture funding from Visa in December 2019, an expansion of a partnership that had been growing. According to Endeavor Miami’s 2020 Impact Report, NovoPayment is present in 11 countries and has more than 12,000 corporate platform users acroos the Ameircas.
2 INSIGHTEC hits several key milestones
INSIGHTEC, a commercial stage medical tech company based in Miami and Israel, announced this week that it has received national reimbursement from the Japanese Ministry of Health, Labour and Welfare for treating Parkinson’s Disease, a deadly neurodegenerative disorder afflicting 1% of Japan’s population over 60.
“Japan is the first country in the world to cover focused ultrasound for Parkinson’s Disease with nationwide public health insurance,” said INSIGHTEC CEO and Chairman Maurice R. Ferré. “This is a major milestone for patients with Parkinson’s Disease across Japan.”
INSIGHTEC’s Exablate Neuro uses focused ultrasound waves to precisely target and ablate tissue deep within the brain with no incisions. The treatment is performed under Magnetic Resonance Imaging (MRI) guidance for real-time treatment monitoring.
In another major milestone, INSIGHTEC recently earned Medicare coverage in all 50 states for its incisionless surgery procedure for medication-resistant essential tremor, a condition that affects 10 million Americans, and has been on a “rocket ship trajectory,” CEO Maurice R. Ferré told the South Florida Business Journal. Ferré, who previously ran Mako Surgical, also said the company will continue impactful local collaborations with local universities and health systems and he expects INSIGHTEC to reach a billion in revenues within 10 years. Read more in the Business Journal here.
INSIGHTEC is already a billion-dollar company. In March, INSIGHTEC raised a Series F investment round of up to $150 million at a post-money valuation of $1.3 billion. The funding was led by Koch Disruptive Technologies (KDT), a subsidiary of Koch Industries focused on funding emerging companies. KDT also invested $150 million in 2017.
In April, INSIGHTEC named Chris Marrus Chief Commercial Officer. Marrus previously was an executive of Stryker and Mako Surgical, which Stryker acquired in 2013.
3 Virtual conference for the Startup State
Synapse, a Tampa-based organization focused on statewide entrepreneurship development, announced a virtual conference to take place Nov. 16-19, during Global Entrepreneurship Week.
Synapse Converge: GEW Edition is intentionally designed to empower and inspire entrepreneurs at every stage of the journey. Attendance is free for all, and throughout the week, will feature two programming tracks each day: the Startup Toolkit and Entrepreneur Leadership. Major themes will be ecosystems, education and inclusion. Register here.
4 UKG – got it – and more news to note
Ultimate Software and Kronos, who closed their merger in April, unveiled their new corporate identity. Beginning Oct, 1, the merged companies will rebrand as UKG, for Ultimate Kronos Group, and adopt the tagline “Our purpose is people.” The company said the name is meant to “build on the strength and innovation” of Ultimate and Kronos even while “signaling a singular, shared focus on inspiring workforces and businesses around the world.” … eMerge Americas has partnered with the Hemispheric University Consortium to host startup pitch competitions at top-tier universities in Argentina, Brazil, Chile, Colombia, Ecuador, Mexico, Peru, Canada and the Caribbean. Winners will be invited to join eMerge Americas Startup Showcase in 2021. … Endeavor Miami’s EndeavorLAB DemoDay is Sept 10 and you’re invited. EndeavorLAB is Endeavor Miami’s accelerated growth program for early-stage companies with a market-tested business model, and Cohort One is supported by the City of Miami and is focused on female entrepreneurs. Register here.
5 Fun fact: Yes, we love our dogs (and cats!)
Ok, nothing very techy about this, but because this is the holiday edition, here’s a fun fact for your next Zoom happy hour.
Miami ranks fifth of all American cities for pet adoption interest during COVID-19. That’s according to a report by Lombardo Homes. Using Google AdWords, Lombardo Homes recently analyzed search volume trends for more than 5,300 search terms related to pet adoption in cities nationwide to learn which cities have the highest interest in pet adoption during COVID-19. They also found that interest in adopting a pet increased 41% in Mimi Dade during the pandemic. Who had more interest? Oakland, San Jose, LA and Arlington, Texas were the top 4.
Overall, it found that 42% of Americans have considered adopting a pet during the COVID-19 pandemic, and 94% of Americans say their pet has been a source of emotional support during COVID-19. What’s more, 53% report spending more money on their pet than usual during COVID-19, most often on food, treats or toys.
Happy Labor Day, Everyone. Have a safe and relaxing weekend.
GOT NEWS? Send South Florida startup and tech news to Nancy Dahlberg at ndahlbergbiz@gmail.com and follow her on Twitter @ndhalberg
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