Monthly Archives: November 2020

News

Gobeyond Partners expands into DACH region to help companies navigate customer journey evolutions in pandemic world

Gobeyond Partners, a new type of consulting firm that partners with clients to solve complex customer journey challenges, has today announced its expansion into the DACH region. Building upon over 20 years of experience in the customer journey and consulting space, the firm will bolster its already strong teams across the UK and France and be better able to service its wealth of German, Austrian, and Swiss clients.

As part of the Webhelp Group, the new Gobeyond Partners DACH team will be co-located in Nuremberg, the current headquarters for the Webhelp in the DACH region.

Ludger Strom has been appointed the Managing Director of Gobeyond Partners for the DACH region, with a strong consulting background in customer journey transformation. Ludger and his team will develop Gobeyond Partners’ existing client portfolio across High Tech, Financial Services, Automotive, Health, and Multichannel Retail, as well, as work alongside Webhelp and its clients to support their transformation agendas

At a time when 60% of business leaders are re-evaluating how much they will be investing in change and transformation due to COVID-19, the team’s expertise will provide a significant value add to clients looking to build back better and navigate the evolving digital complexities in customer journey transformation.

Mark Palmer, CEO of Gobeyond Partners comments on the expansion:
“We have delivered work for DACH clients for a number of years, and a local team and location has always been part of our plan. However, the rapid digitisation of channels and cost transformation agenda that many companies are now facing, has accelerated this. Through our DACH team, we can help existing and new clients navigate this complex landscape.”

Ludger Strom, MD of the DACH practice continues:
“I am delighted to be heading up our new DACH practice. I look forward to supporting our current clients in the region, as well as partnering with new clients who are accelerating their digital customer journey strategies. It’s a very exciting time for us. We have some ambitious targets for the next year and I am actively looking for talent in the market to grow the team.”

Markus von Rhein, CEO of Webhelp DACH concludes:
“This is an exciting time for Gobeyond Partners and Webhelp. We know clients will value the additional service offering to support their transformation work.”

Business Advice, COVID-19, News

COVID-19 Recovery Tips for Businesses in 2021

By Thom Dennis, CEO at Serenity In Leadership

Organisations must plan for post lockdown reality. There has been a huge cost to the pandemic but there has also been a lot of necessary learning which needs to be integrated into current organisational cultures to be sustainable, resilient and to last beyond the pandemic. While this lockdown is likely to create increased anxiety, it will also create new perspectives as to which work practices are outdated and need to change within organisations. Many businesses will need help to come back in a different way.

1. LEADERS NEED TO LEAD. There has never been a time more important for leaders to lead with compassion, clarity, courage and conviction. Whilst the future for many businesses is uncertain, 2021 will not be a time for going back to as we were. It will be a year where we have to look at what worked, what didn’t, how we adapted and stayed agile and nimble, and what we need to do going forwards.

2. BUILD TRUST – Trust is at the core of any healthy relationship. Building, or in some cases rebuilding, trust starts through recognising each other’s efforts and showing gratitude. Being transparent and communicating clearly through shared knowledge and welcoming honest feedback are key. Experiential learning means listening openly too instead of just being ‘spoken to’. It is not possible to force people to engage, they must do it willingly. This is really not the time for token gestures.

3. IDENTIFY PRE-EXISTING SYSTEMIC VULNERABILITIES – Look behind the wallpaper and under the carpets at how things worked and didn’t work well for the last few years, and in particular in 2020. Business leaders need to re-evaluate long term vision, purpose, values, mission statements and goals – not as add-ons but as values to be lived and breathed throughout the organisation. Change is here whether we like it or not so we should always choose changing for the better.

4. FLEXIBLE PLAN – Leaders need to have a flexible plan that prepares for today whilst also being ready for whatever tomorrow brings in the world and workplace which are in constant flux. Being rigid will close doors and remove opportunities.

5. ENSURE REAL EQUALITY. Many of us are feeling increasingly insecure about our jobs at the moment, so showing unconscious bias or favouritism or providing unequal opportunities at work will deplete all aspects of the business including the bottom line. We need to create the space to hold difficult conversations, particularly if individuals are speaking from a place of frustration, anger or personal experience. A successful conversation is characterised by the amount of listening that took place.

6. PRIORITISE WELLBEING & WORK BOUNDARIES – If we are working from home, we need to have home/work boundaries. Many of us are very efficient at working from home but some find it hard to stop working based on the need to constantly prove ourselves and the absence of a natural break brought about by the travel home. These new issues in the home and office mean employers’ priorities need to change around wellbeing. Find out what your employees need, and bear in mind that different people may well have contrasting needs. Be clear about expectations and the importance of physical and mental health. Far more than before, individuals will successfully tackle the same problem in a variety of different ways – the approach to management needs to reflect this.

7. MAINTAIN DIVERSITY – Amplifying diverse voices will lead to a more innovative, balanced and creative workplace. Relatability and cultural sensitivity may work well with some audiences, but potentially alienate others. We recommend workshops that try role play/switching and reverse mentoring, or storytelling through true stories as just a few ideas.

8. EFFECTIVE COMMUNICATION – 50% of what lands when we are speaking/communicating is our body language, 43% is tone, and just 7% is the content of the words. When it comes to being heard, it shouldn’t be about convincing people to have the same view. It is important to create spaces and cultures where people can have conversations to exchange opinions, views and understand why these may result in different emotional responses. Employees need to truly be heard, if not seen at the moment.

9. LEARNING AS A TEAM – Unity and commitment by the whole team is needed and will only happen if everyone buys into the company’s values. Find ways to develop the team even if it’s just through virtual teamwork. Meetings, education and connection can all happen online in a safe space – establishing and maintaining psychological safety is probably more important now than ever.

10. ALIGN THE BUSINESS – Reinvent communication and operational plans, knowing and mitigating your risks to produce the best possible outcome for the business and people who make up the business. Tap into the thoughts of your employees, colleagues and customers at all levels to develop 20:21 vision.

 

To learn more about the author, visit www.serenityinleadership.com

 

Appointments, Creative News, News

Waste boosts entertainment marketing credentials with appointment of Michael Rekab as Lead Strategist

Independent digital creative agency Waste has announced the appointment of Michael Rekab as Lead Strategist, as it seeks to bolster its fan-first offering for entertainment brands.

Rekab joins from Irish strategy agency MCCP, where he was Senior Strategist specialising in brand and communications strategy and innovation, for brands including National Lottery, Jameson and Heineken. He also brings extensive experience in entertainment marketing to Waste, having helped to develop through-the-line campaigns for brands such as Virgin TV, Entertainment One and the Irish language TV station TG4 since starting his career in 2013.

In his new role at Waste, Rekab will focus on the agency’s gaming and entertainment clients including Nintendo, SEGA and Supercell, helping gain a better understanding of brands’ fan communities and sub-tribes, and delivering compelling content and campaigns across the entire fan ecosystem.

He will report to Christian Perrins, Head of Strategy, with joint oversight of a team of seven data, creative, and SEO strategists.

Rekab has previously held positions at Publicis Dublin and Zenith Ireland.

Michael Rekab, new Lead Strategist, Waste, said: “Digital has given us new and exciting ways to reach our audiences, but I believe it’s essential for brands to create work that connects with people on a human level, too. I can see that Christian and the team at Waste share this belief, which is why this is such a fantastic move for me. I’m excited to be joining at a time of real growth and innovation for the agency.”

Christian Perrins, Head of Strategy, Waste, added: “Michael’s a ‘human’ strategist who’s as big-empathy as he is big-data. Our work is increasingly powered by nuanced understanding of fan-tribes, their distinct emotional and rational needs and channel behaviours. Michael will help us deliver that blend of deep personal insight and big-picture ecosystem thinking. We’re delighted to see him become part of the Waste family.”

News

GWI and LinkedIn B2B Institute reveal ‘The BETAs’: New report shows the impact on the world of work for digital natives amplified by Covid-19

GlobalWebIndex (GWI), the leading target audience company, together with LinkedIn’s B2B Institute, has launched “Work in BETA: The Rising B2B Decision Maker”.

The new report examines the changing behaviours and attitudes of “the BETAs” – the first cohort of digital natives (21 to 40 year-olds) to assume positions of seniority in business, at a time of dislocation. The BETAs form the largest group of purchasers and decision-makers in the global workforce. Around two-thirds globally are the ultimate decision maker for their company or the final decision maker for their department/team when making purchases.

Research findings from 34,000 professionals, across 40 sectors, in 10 markets characterises the BETA population as individuals that have: Blurred work-life boundaries, an Evolving mindset, are Tech natives but are time poor, and have raised levels of Activism.
B – Blurred boundaries: clocking in the most overtime against all professionals and no work-life balance

The loss of a dedicated workspace due to the pandemic is most intense on the BETA audience. They are most likely to be living in shared households or with their parents, and are most likely to report not working in a home office. Almost 1 in 5 do not have a dedicated space to work, compared to just over 1 in 10 among other business professionals.

8 in 10 business professionals globally and in the UK say they are regularly working late or putting in overtime; within this both globally and in the UK, about 1 in 10 say they “always” work late, and 15% are “always” working overtime. However, these behaviours manifest most strongly among BETAs; they are 8 points ahead of other professionals for regularly working late. They also have a lead of 13 points for regularly working overtime, despite working in an uncomfortable space.

The BETAs are of the “always on” smartphone generation; they are the most likely to use personal smartphones for work. Over half globally do this, compared to 40% of 41-50s and about a third of 51-64s. Globally BETAs estimate spending 3.5 hours compared to 2.5 hours in the UK on their mobiles each day (peaking globally at 4 hours and 3 hours in the UK among 21-30s). Other professionals globally report spending just under 2 hours (1 hour in the UK) on these devices, dipping to 1 hour and 20 minutes among 51-64s. 2020 is the first year that smartphones have moved to the top of the table for workplace devices, due to the BETAs, following a 6-point year-on-year drop on desktops. Smartphones are the device they mostly work on, unlike other age groups who prioritize laptop or desktop.

Jason Mander, Chief Research Officer, GWI comments: “Like never before, work-life boundaries instantly became harder to distinguish and maintain. Crucially, working from home is not a democratized experience; it does not take the same form for every worker, and an individual’s domestic situation is key to this. Those with a home office find it easier to switch off at the end of the day, feel better equipped to separate home life from work, and are less concerned about the impact that home working can have on mental health. The need or desire to work extra hours is a long-established issue for business professionals, but in 2020 – when so many workers are working remotely for an extended period of time – it’s a behaviour with heightened implications, especially for the BETA working in her/his bedroom in a shared apartment.”

E – Evolving mindset: desire to learn to progress in their working lives

BETAs place importance on professional development through self-improvement and self-evolution. The majority of BETAs, globally (80%) and in the UK (65%) are participating in online learning to learn/improve skills, increase their knowledge, or gain qualifications. In turn they are most likely to expect promotions, and globally they place a higher-than-average premium on job satisfaction – despite the impact of the pandemic on businesses and job losses.

BETA’s in the UK are over 50% more likely than other business professionals to say that career progression is good/excellent in their company.

In light of the pandemic, LinkedIn Learning made over 600 LinkedIn Learning courses free across seven languages to help members build skills for in-demand jobs like sales representative, graphic designer and digital marketer, and hone fundamental soft skills needed to navigate the challenging work environments many are currently facing.

Across all professionals, 3x the amount of LinkedIn Learning content was watched in August 2020 than they did a year ago. Additional LinkedIn Learning data highlights that 83% of online learning happens during the work week.

T – Tech natives: smartphones keep BETAs connected and on track when time poor and in demand

Compared to other professionals, BETAs have more emails, meetings and apps. On a typical workday, they will receive 32 emails and at least 3 meetings to attend[1]. Throughout 2020 they will handle an average of almost 8,500 emails and close to 800 meetings.

The BETAs are more likely than other cohorts to do 14 out of 35 activities noted in the study exclusively on their smartphone, compared to just 8 amongst older working professionals.

With more time on devices, comes more anxiety; 3 in 4 BETAs say they are constantly connected online, 6 in 10 feel it’s critical to be contactable at all times, and a third worry they spend too much time on their phones. In all cases, they outscore other cohorts.

A – Raised on Activism: behaviours and actions with purpose strike a cord

Exploring responses to today’s issues, with particular reference to the Black Lives Matter movement, 83% of BETA professionals want to see companies take at least one brand-action such as review hiring policies, ensure diversity in leadership, support local initiatives and make charitable donations.

In the U.S. and UK, using social media to support diversity is one of the lowest-scoring options among BETAs; this reflects a concern among some that only using this channel to demonstrate support could be superficial or too performative. Instead, BETAs in these markets prioritize internal reflection and change – they expect brands and employers to reflect their values, through action.

Ty Heath, The B2B Institute at LinkedIn concludes: “2020 is a year of great change in B2B. The pandemic is forcing the reinvention of how marketing and sales work with greater digitisation and focus on distributed business. The group we are calling The BETAs, the next cohort of business decision makers are, as Digital Natives, a driving force of these changes, and key to understanding which business behaviours will persist over time. For example their use of the mobile phone will be as critical to the future of B2B as the invention of the telephone and typewriter to companies one hundred years ago. Those companies who understand their attitudes and behaviours will create substantial opportunities for business growth.”

Jason Mander, Chief Research Officer, GWI concludes: “Many of the BETAs come from the Millennial cohort but less attention has been given to their impact in business, despite the fact they form the biggest group of purchasers and decision-makers. If there’s ever been a good time to get to know how people actually think and feel, it’s now. Your audience might not be who you think. We also expect the trends we’ve identified to develop further as new employees enter the workforce; businesses need an in-depth understanding of this audience to prepare for the future.”

Care, News

Birchwood reveals Birchwood Smiles: showing the smiling faces behind the masks

Birchwood House, the Tunbridge Wells-based care home, and sister company Birchwood Care Services, operating in the community, have unveiled Birchwood Smiles – a new initiative to show the smiling faces of its staff behind their masks.

Every team member will now wear a lanyard around their neck, with a large picture of their smiling face on it. This will help them to engage with residents and clients, even when wearing full PPE.

“So much of caring is about making a human connection and we wanted to remind our clients that there’s always a smiling face behind the mask. If you smile at someone, nine times out of ten you’ll get a smile back, and what’s important to remember is sometimes we’re the only people our clients see in a day.” Commented Wendy Ryan, manager of Birchwood Care Services.

Ryan added: “For those who have dementia this is even more important. Continuity and routine are essential. A familiar face helps build rapport and trust. We want to create a positive, happy feeling for all clients.”

This simple gesture is already proving effective. Although there are hopes of a Covid-19 vaccine being rolled out soon and elderly people will be the first to receive it, Birchwood is preparing for PPE being a part of daily life for some time to come.

Birchwood has adapted its services throughout the pandemic, locking down Birchwood House early in 2020 and introducing family visits to Birchwood House in June, using a fully secure visiting area. Birchwood Care Services has adapted by significantly reducing staff interaction and making more use of video and telephone supervision .

Birchwood Care Services also held its first virtual Care Awards in 2020, to keep morale high and thank staff for their continued efforts. Categories included “Going over and above” and “Best compliments from clients”.

Keeping clients’ spirits up throughout has been a priority, with organised afternoon teas, a Harvest Hoedown, Halloween and Guy Fawkes celebrations for the elderly people Birchwood cares for.

Niral Patel, Birchwood’s owner, adds: “It’s our team’s smiling faces that so often get mentioned by residents, clients and their families. So, everyone loved the idea of Birchwood Smiles and quickly got behind it, and we’ve been able to roll it out across all of our staff.”

To learn more about Birchwood House visit https://www.birchwoodhouse.org.uk/

Mental Health, News

62 per cent of employees suffering from mental health issues, survey finds

New research involving 150 HR leaders has found that 3 in 5 UK workers have experienced mental health issues since the outbreak of the coronavirus pandemic. The report authors, leading Accountancy and Finance, HR and Data Analytics recruiter, Wade Macdonald, and workplace law specialist, Doyle Clayton, have raised concerns of an increase in known incidences as a result of the current lockdown measures.

Since March, supporting employee health and wellbeing amidst the global pandemic has risen to the top of employers’ agendas. This research explores how senior teams are adapting, managing and responding to this unprecedented welfare crisis.

Overall care

Of those surveyed, it was found that 94 per cent of respondents have put measures into place, proactive and reactive, to protect staff welfare. The types of support vary significantly from businesses to business however, the most popular form of support is Employee Assistance Programmes (EAP) (88 per cent), followed by self-service platforms (55 per cent).

Some businesses have chosen to go the extra mile and offer personal medical support including access to counselling services (33 per cent), coaching (21 per cent) and a private doctor (16 per cent).

Furlough

Brought in to ease the financial pressures of the pandemic, the government’s furlough scheme was welcomed with open arms by many businesses nationwide, with 72 per cent of companies utilising the scheme so far. Of the 150 HR leaders surveyed, 60 per cent state to have used, or be using, the furlough scheme.

However, furlough has added extra strain on employee’s mental health with many citing a fear of the unknown, job insecurity and further isolation. To combat this, a large percentage (83 per cent) of employers are using multiple channels of regular communication with furloughed employees. The most popular being phone calls (54 per cent), video calls (41 per cent), company newsletters (39 per cent) and virtual company social gatherings (32 per cent).

Encouragingly, over a third of businesses ensured that furloughed employees were still given access to training days whilst away from the day-to-day working routine. A very pragmatic use of time, enabling employees to build upon skills and stay active, engaged and positive.

Returning to work

The return to the normal routine of office life is overwhelmingly low on many employers’ lists, with only 30 per cent planning on going back in when it is possible to do so. The need to adapt and flex to working from home over the past eight months has begun a nationwide debate as to whether this is the death of the office space as we know it.

On one hand it may be; 96 per cent of employers believe that remote working has no negative impact on productivity, and less than 20 per cent of employees have requested to return to the office on a full-time basis.

However, as it has been widely discussed over the past few months, complete cut-off from the office environment can lead to further complications such as isolation, anxiety, depression and a severe reduction of work/life balance.

This argument has meant that, undoubtedly, our working practices will follow a much more flexible, hybrid approach post-pandemic. 90 per cent of those surveyed have stated that the choice to remote work would continue post-pandemic, with 77 per cent stating flexible working options would become the norm.

Ongoing care

Chris Goulding, Managing Director of Wade Macdonald, said: “COVID-19 has created a host of unprecedented pressures for businesses and individuals alike. While economists could have predicted the large-scale financial difficulties the world was about to witness, no one could have been prepared for the physical and mental burdens that would follow.

“The recognition of the strain the last eight months has had on internal teams has meant that a large proportion of employers are looking to seriously ramp up their support efforts indefinitely.”

76 per cent of respondents stated that their business intends to continue offering welfare support post-pandemic through EAP (88 per cent), training (44 per cent), counselling (29 per cent) and private doctors (15 per cent).

Tina Wisener, Partner of Doyle Clayton, said: “What is most encouraging throughout these findings is that the importance placed on staff welfare support is not simply a fad because of the times we live in, but something that holds gravitas for many employers now and going forward. A welcome change for businesses and their teams across the country and hopefully, the right steps forward to a much happier, more resilient workforce.”

News, Property

Alpamint Capital announces 5,000 new affordable homes pledge

Alpamint Capital, a London-based private investment, development and consulting company, has pledged to build 5,000 affordable homes in the capital over the next decade.

The company has specifically earmarked airspace development, whereby unused space on rooftops of existing buildings is converted into new properties, as a key technique in realising its ambitions. It is now looking to partner both with London councils and management associations to move forward with its plans.

Airspace homes can be manufactured almost entirely offsite to a high specification and constructed on rooftops in a matter of days.

The group now has an asset book in excess of £30m. It has developed a total of over 100,000 sq ft of residential space, together with investors including real estate specialists, Cubhill Ltd.

Alpamint has recently collaborated with investors and housing bodies on several schemes in London and the South East. This includes the multi-million pound development of Clandon House, a 101-room site in Finchley, which is now set for residential use.

Joseph Zekaria, managing director of Alpamint Capital, said: “We’ve made substantial progress during the past decade and are determined to bring about further development. Building 5,000 new homes is an ambitious plan, and one we are intent on meeting through our strategic asset development and investment.

“We have enjoyed particular success through our airspace development model, which is an innovative solution to housebuilding and crucially doesn’t encroach on protected land. We’d encourage parties interested in partnering with us to get in touch as we have every confidence this approach can help accelerate London’s homebuilding goals.”

News

Octopus Ventures publishes report on fourth industrial revolution powered by university spinouts

UK university spinouts are achieving record breaking exit values, according to the latest figures from Octopus Ventures’ Entrepreneurial Impact Ranking 2020. The second annual edition of the report found that universities received £61 million from spinout exits; an increase of 37% year on year from 2017/18 to 2018/19.

The spinouts that achieved the highest exit values were in artificial intelligence (AI), quantum computing and life & medical sciences. Universities and investors remain optimistic that success in these areas will continue despite Covid-19, while highlighting the huge economic and societal benefits they offer, both now and in the future.

Simon King, Partner and deep tech investor at Octopus Ventures, explains:

“When investing in spinouts you have to take a long-term view. We’re thinking about how these technologies could revolutionise the way businesses and society operate in ten years, well beyond the challenges posed by the virus today.

“The scientific research produced by UK universities is genuinely world class and, as we start to think about the UK’s post-pandemic recovery and our future outside the European Union, there’s no question that producing more successful spinouts could unlock huge economic growth. The momentum we’re now seeing, particularly in the fields of deep tech and life sciences, could help to power the fourth industrial revolution, creating thousands of jobs and giving the UK a strong competitive edge. That makes it even more important that we maximise their potential.”

The economic benefits generated by these sectors are already significant. The UK’s life sciences industry alone contributes over £70 billion a year and 240,000 jobs across the country. Figures from Innovate UK also demonstrate that government support to help commercialise spinouts pays off, with every £1 invested returning almost £42.

The ranking

Queen’s University Belfast maintained its top spot in the ranking for the second year running and is noted for its highly effective approach to developing spinouts, with a key focus on ‘customer discovery’.

The University of Dundee was a new entrant to the Top 5. It specialises in two of the fields leading the charge: computer and medical sciences. Combining both, one of its spinouts, Exscientia, is an AI-powered drug discovery company, which was founded in 2012 and raised $60 million in a Series C funding round earlier this year.

The ranking measures UK universities’ effectiveness in terms of their production of intellectual property, creation of spinout companies, and successful exits from such spinout companies, relative to their total funding3.

Entrepreneurial Impact Ranking 2020 – Top 10

1st – Queen’s University Belfast

2nd – University of Cambridge

3rd – Cardiff University

4th – Queen Mary University of London

5th – University of Dundee

6th – University of Leeds

7th – University of Oxford

8th – University of Nottingham

9th – University of York

10th – King’s College London

Brian McCaul, CEO of QUBIS and Head of Innovation at Queen’s University Belfast, said:

“We are delighted that Queen’s has achieved the top position for the second year running. The fact that this measures spinout activity and investor returns over 10 years underlines Queen’s continued ability to effectively and efficiently translate research innovations into commercial success. We can be truly proud of our significant contribution to regional economic development, demonstrated perhaps most clearly in Northern Ireland’s flourishing life sciences sector, where many of our spinouts have performed well whilst helping in the fight against Covid-19.

“Whilst 2020 has been an extremely challenging year for many spinouts, particularly those seeking to raise equity, most ventures have been able to successfully progress and we are optimistic for what the future holds when we look at the quality of the commercialisation opportunities that continue to emerge from the research here at Queen’s.”

Dr Matt Perkins, CEO of Oxford University Innovation Ltd, commented:

“Spinout companies are an essential tool for outputs from Oxford and other universities to deliver societal and economic impact. Our companies span the sciences, and transform world-leading research into world-changing reality. We welcomed our 200th spinout, PhishAR, in July and have created a further nine spinouts since. Meanwhile, our spinout family is attracting record investment, with $1.1 billion raised in 2019/20. These companies are creating jobs, economic growth and, more importantly, are bringing technologies to market that can positively transform lives and society. Despite recent uncertainty caused by the Covid-19 pandemic, the Oxford ecosystem continues to develop and thrive, and we expect that spinouts nationally will form a major building block of the UK economy as they mature.”

How to create more commercial success stories

The report reveals that many of the universities at the top of the ranking share similarities in their approach to developing and commercialising spinouts and includes six recommendations for how universities can help propel spinouts to greater commercial success:

● Focus on customer discovery: Spinouts should aim for at least 100 conversations with potential customers

● De-risk technology and teams: Use proof of concept and prototyping, along with quality hires, to de-risk the spinout

● Align incentives for different skill sets and development phases: Ensure ownership structure and incentives are aligned to attract the right people at the right time

● Use milestone-based valuations and fundraising targets: Aim to raise funds in stages according to what is needed to reach the next milestone

● Be creative in fundraising: Leverage all sources of fundraising available

● Build scale through alliances: Use networks to add value to spinouts in different circumstances

To read the report, including the full rankings, a deep dive on Queen’s University Belfast and more detailed recommendations, please visit octopusventures.com

 

FInance, News

Modulr receives investment from PayPal Ventures

Modulr, a leading Payments as a Service API platform, has secured a £9 million investment from PayPal Ventures to develop additional products, grow its team and expand its customer base.

Modulr enables digital businesses and software platforms across lending, banking, fintech, travel, employment services and accounting to easily embed and build new payment products and services within their customer journey. With its full stack Payments as a Service API, it handles much of the complexities and regulatory overhead, so that its customers can focus on their own unique value proposition. Modulr’s direct access to the Bank of England facilitates the fast experience that digital customers demand.

Modulr is tapping into the massive business to business payments digitisation opportunity by working with platforms that serve small and medium-sized businesses. 2020 has been a breakout year for the company as it signed up number of large enterprise customers, despite the macro economic challenges posed by COVID-19.

Anil Hansjee, partner at PayPal Ventures said: “More digital businesses are looking to incorporate payments into their existing user experience but either don’t have the expertise or the resources. Modulr is well-positioned to be an enabler of this trend and will undoubtably expand end-users’ access to fast, reliable and secure financial services. We look forward to working with Modulr as it helps to powers the next generation of digital businesses.”

Myles Stephenson, CEO of Modulr said: “This investment marks an important milestone for Modulr’s modern payments infrastructure. Modulr lowers the barriers to bringing payments into a platform, creating endless new possibilities for our customers while allowing them to focus on their core competencies. The investment from PayPal Ventures enhances our ability to execute on that vision.”

In the last year, Modulr became a directly connected participant of the Bacs scheme, alongside direct participation in the Faster Payments scheme, enabling Modulr to settle and hold funds at the Bank of England. Modulr has further added direct access to Visa and Mastercard, as well as delivering innovative new products including Payment Initiation and Confirmation of Payee. Modulr was most recently granted an electronic money license from the Central Bank of Ireland which marks an important step in the company’s European ambitions.

In total, Modulr has raised £63.3 million including investment from PayPal Ventures, Highland Europe, Frog Capital, Blenheim Chalcot and a £10m grant from the Capability and Innovation Fund.

To learn more about Modulr, visit https://www.modulrfinance.com/

 

*2019 figure, Mckinsey Global Payments Report 2020.

News

Emma Selects Signifyd to Fight Fraud and Protect the Customer Experience

Adopting a guaranteed fraud protection model removed friction and frustration from the mattress brand’s buying experience.

International mattress brand Emma has selected Commerce Protection Platform provider Signifyd to help fuel its ongoing and dramatic growth as it continues on its mission to provide the world with a better night’s sleep.

The direct-to-consumer mattress brand saw Signifyd as the ideal revenue optimization solution for its United Kingdom market given the two companies’ intense focus on providing an exceptional customer experience for online buyers. Emma is in the vanguard of ecommerce enterprises that seek to build deep and direct relationships with their customers and Signifyd is among the ecommerce innovators that have made it a mission to enable the new wave of commerce.

“Signifyd has become a key piece of our competitive advantage. When other companies are losing customers to bad CX and friction in the checkout process, we gain market share,” said Santosh Marrivagu, Emma’s head of UK & Ireland. “And the best part is, by achieving significant process innovations with Signifyd, we are able to pass benefits directly on to our customers. We can give our customers the best sleep experience at the best price – and that keeps them coming back for more.”

Emma has been a brilliant ecommerce success story since its launch in 2015. In 2018, it was named the fastest growing startup in Europe. In 2019, Emma achieved a record turnover of €150 million, a growth rate of 86% from the previous year. This year, Emma, which has expanded into 23 countries by now, aims to increase its revenue to even more than €240 million. And in June 2020, it announced that it had sold its one millionth mattress, putting to rest any questions about how its founders sleep at night.

The company was built on innovation and forward-thinking, embracing the mattress-in-a-box model early on. It’s no wonder, then, that Emma also embraced the practice of building a modular ecommerce tech stack that optimizes operations in order to provide a peerless customer experience.

Enter Signifyd. The company’s Commerce Protection Platform uses machine learning and big data to instantly identify fraudulent and legitimate orders. The platform automates order flow and provides a financial guarantee for any approved orders that turn out to be fraudulent.

With Signifyd’s Revenue Protection solution, Emma discovered that Signifyd was approving 70% of the UK orders that 3-D Secure 1.0 would have declined. Signifyd very quickly moved Emma’s order approval rate in the UK from 92% to over 98%. Within two and a half months, Emma was seeing a twelve times return on its investment in Signifyd.

More importantly, the move to Signifyd helped Emma improve upon its already legendary customer service. Each of the orders being declined represented a disappointed customer. Moreover, Signifyd’s superior fraud protection meant that consumers were not being victimized by criminal rings seeking to profit by using stolen credentials and accounts.

“We are delighted to be working with one of Europe’s premier mattress brands,” said Signifyd Managing Director for Europe, Ed Whitehead. “Emma is an incredibly well-run, technology-focused enterprise, and to be able to move the needle on their revenue while helping them provide their customers with a frictionless buying experience is just fantastic.”