Tuesday, June 30, 2020

Javascript, CSS - Horizontally centering an element

submitted by /u/avidichard
[link] [comments]

from programming https://ift.tt/31ykHug

AWS App2Container – A New Containerizing Tool for Java and .NET Applications

submitted by /u/reddit007user
[link] [comments]

from programming https://ift.tt/3dSr2TL

InstaScraper: Tool For Data Collection From Profiles | This was a project I took on to learn C#. It took a long time tbh but I've learnt a lot! Github and program available here:

submitted by /u/LifeLongLiver
[link] [comments]

from programming https://ift.tt/3iejP49

Another hour!

It's July 01, 2020 at 10:15AM

Finding the Humanity of Big Data

It’s no secret that Big Data offerings have become one of the largest marketing bastions the world has ever seen.

In a fast-paced and ever-changing era, industries race against one another more than ever before to raise benchmarks, contexts, ROI, and ultimately profit margins in an interconnected world that never sleeps. Big data consulting services have been around for several years now, helping organizations reach their business goals by carefully absorbing and organizing trillions of bytes worth of data. As the process progresses and internet access continues to expand around the globe, the amount of data to process will only continue to swell.



from DZone.com Feed https://ift.tt/2YLsLpG

Graph Therapy: The Year of the Graph Newsletter, June/May 2020

Parts of the world are still in lockdown, while others are returning to some semblance of normalcy. Either way, while the last few months have given some things pause, they have boosted others. It seems like developments in the world of Graphs are among those that have been boosted. 

An abundance of educational material on all things graph has been prepared and delivered online, and is now freely accessible, with more on the way. 



from DZone.com Feed https://ift.tt/2NLVAMG

JMeter Netconf Plug-in and Network Service Automation

JMeter Netconf Plug-in and Network Service Automation

Network service automation-related requirements are usually realized by means of commercial or open-source network orchestrator or controller software system. However, for some temporary or urgent needs, software patch or version development, upgrade, and change are often involved, which sometimes makes network engineer feel like "to break a fly upon a wheel". In fact, it can be realized through a light-weight way, JMeter Netconf plug-in implementation and network service automation process customization without compiled code based on JMeter framework.

JMeter Netconf plug-in implementation includes two modules.



from DZone.com Feed https://ift.tt/3gfJeso

Building Cloud-Native Java Applications With AOT and Kubernetes

Native cloud applications use services and infrastructure provided by AWS, Microsoft Azure, and Google Cloud among others. Essentially, this means you can code, test, maintain, and run your app all in the cloud.

This approach gives developers an opportunity to:



from DZone.com Feed https://ift.tt/31woo3D

Azure SQL Elastic Pool

Azure SQL Elastic Pools 

Many organizations struggle with unpredictable workloads upon their multiple databases holding various applications. Over-pay to high resources all the time which brought based on peak usage calculations. Compromise on performance by assigning the lower resources and experience ineffective solutions.

Azure Elastic pools allow us to manage multiple databases that have varying performance. In an Elastic pool, multiple databases can share DTUs amongst themselves as and when they need which can result in better performance and cost savings. An Elastic database pool provides elastic database transaction Units (eDTUs) and storage(GBs) that are shared by multiple databases. It also allows us to allocate a shared set of compute resources to a collection of Azure SQL databases, meaning that your databases are running in a shared resource pool on a co-tenanted Azure server over which you have no direct control. The benefit of using an Elastic Pool in Azure SQL Server database is that using it, a single database can be moved in and out of an elastic pool, which gives us flexibility. Elastic pool is a collection of a single database with a shared set of resources, such as CPU or memory. Single databases can be moved into and out of an elastic pool.



from DZone.com Feed https://ift.tt/2Bg72xr

Getting Started With Appium

In this Refcard, you will learn everything you need to know about getting started with this open-source tool, from installing the Appium server to running your first tests. Download this Refcard now to see why Appium is "Mobile App Automation Made Awesome."

from DZone.com Feed https://ift.tt/2opUmbC

Getting Started With Selenium

This Refcard covers the latest updates to Selenium and tools you need to launch Selenium on any major browser, on any major operating system.

from DZone.com Feed https://ift.tt/2bcPMKh

Another hour!

It's July 01, 2020 at 09:15AM

U.S. University Pays Over $1M Ransom in Bitcoin to Hackers to Regain Access to Encrypted Data

submitted by /u/Smooth-Fold
[link] [comments]

from programming https://ift.tt/3ihKrkG

Another hour!

It's July 01, 2020 at 08:15AM

Dflat, Structured Data Store for Mobile in Swift

submitted by /u/liuliu
[link] [comments]

from programming https://ift.tt/3ie4H6R

Making a game with only 1 by 1 pixel...

submitted by /u/Barely_Apps
[link] [comments]

from programming https://ift.tt/2CWX3NY

Table detection and transformation from images

submitted by /u/milad_nazari
[link] [comments]

from programming https://ift.tt/2YK2PuK

Another hour!

It's July 01, 2020 at 07:15AM

Another hour!

It's July 01, 2020 at 06:15AM

Cendana Capital, which has been backing seed funds for a decade, has $278 million more to invest

When in 2010, former VC Michael Kim set out to raise a fund that he would invest in a spate of micro VC managers, the investors to which he turned didn’t get it. Why pay Kim and his firm, Cendana Capital,  a management fee on top of the management fees that the VC managers themselves charge?

Fast forward to today, and Kim has apparently proven to his backers that he’s worth the extra cost. Three years after raising $260 million across a handful of vehicles whose capital he plugged into up-and-coming venture firms, Kim is now revealing a fresh $278 million in capital commitments, including $218 million for its fourth flagship fund, and $60 million that Cendana will be managing expressly for the University of Texas endowment.

We talked with Kim last week about how he plans to invest the money, which differs slightly from how he has invested in the past.

Rather than stick solely with U.S.-based seed-stage managers who are raising vehicles of $100 million or less, he will split Cendana into three focus areas. One of these will remain seed-stage managers. A smaller area of focus — but one of growing importance, he said — is pre-seed managers who are managing $50 million or less and mostly funding ideas (and getting roughly 15% of the company in exchange for the risk).

A third area of growing interest is in international managers. In fact, Kim says Cendana has already backed small venture firms in Australia (Blackbird Ventures), China (Cherubic Ventures, which is a cross-border investor that is also focused on the U.S.), Israel (Entree Capital), and India (Saama Capital), among other spots.

Altogether, Cendana is now managing around $1.2 billion. For its services, it charges its backers a 1% management fee and 10% of its profits atop the 2.5% management fee and 20% “carried interest” that his fund managers collect.

“To be extremely clear about it and transparent,” said Kim, “that’s a stacked fee that’s on top of what are fund managers charts. So Cendana LPs are paying 3.5% and 30%.” One “might think that seems pretty egregious,” he continued. “But a number of our LPs are either not staffed to go address this market or are too large, like the University of Texas, to actually write smaller checks to these seed funds. And we provide a pretty interesting value proposition to them.”

Meanwhile, Kim argues that other, bigger fund managers have a very different strategy than his own.

“A lot of these well-known fund of funds are asset gatherers,” he says. “They’re not charging carried interest. They’re in it for the management fee. They have shiny offices around the world, they have hundreds of people working at them, they’re raising billion-dollar-plus kind of funds, and they’re putting 30 to 50 names into each one, so in a way they become index funds. [But[ I don’t think venture is really an asset class. Unlike an ETF that’s focused on the S&P 500, venture capital is where a handful of fund managers capture most of the alpha. Our differentiation is that we’re taking we’re creating very concentrated portfolios.”

Specifically, Cendana typically holds positions in up to 12 funds, plus makes $1 million bets on another handful of more nascent managers that it will fund further if they prove out their theses.

Some of the managers it has backed has outgrown Cendana from an assets standpoint. It caps its investments in funds that are $100 million or less in size. But over time, it has backed 22 managers over the years. Among them: 11.2 Capital, Accelerator Ventures, Angular Ventures, Bowery Capital, Collaborative Fund, Forerunner Ventures, Founder Collective, Freestyle Capital, IA Ventures, L2 Ventures, Lerer Hippeau, MHS Capital, Montage Ventures, Moxxie Ventures, Neo, NextView Ventures, Silicon Valley Data Capital, Spider Capital, Susa Ventures, Uncork VC (when it was still SoftTech VC), Wave Capital and XYZ Ventures.

As for its pre-seed fund managers, Cendana is now the anchor investors in 10 funds, including Better Tomorrow Ventures, Bolt VC, Engineering Capital, K9 Ventures, Mucker Capital, Notation Capital, PivotNorth Capital, Rhapsody Venture Partners, Root Ventures, and Wonder Ventures.

As for its returns, Kim says that Cendana’s very first fund, a $28.5 million vehicle, is “marked at north of 3x” and “that’s net of everything.”

He’s optimistic that the firm’s numbers will look even better over time. According to Kim, Cendana currently has 38 so-called unicorns in its broader portfolio and more than 160 companies that are valued at more than $100 million.



from TechCrunch https://ift.tt/31DUsm6

Facebook shuts down Hobbi, its experimental app for documenting personal projects

Facebook’s recently launched app, Hobbi, an experiment in short-form content creation around personal projects, hobbies, and other Pinterest-y content, is already shutting down. The app first arrived on iOS in February as one of now several launches from Facebook’s internal R&D group, the NPE Team.

Hobbi users have now been notified by way of push notification that the app is shutting down on July 10, 2020. The app allows users to export their data from its settings.

In the few months it’s been live on the U.S. App Store, Hobbi only gained 7,000 downloads, according to estimates from Sensor Tower. Apptopia also reported the app had under 10K downloads and saw minimal gains during May and June.

Though Hobbi clearly took cues from Pinterest, it was not designed to be a pinboard of inspirational ideas. Instead, Hobbi users would organize photos of their projects — like gardening, cooking, arts & crafts, décor, and more — in a visual diary of sorts. The goal was to photograph the project’s progress over time, adding text to describe the steps, as needed.

The end result would be a highlight reel of all those steps that could be published externally when the project was completed.

But Hobbi was a fairly bare bones app. There was nothing else to do but document your own projects. You couldn’t browse and watch projects other users had created, beyond a few samples, nor could you follow top users across the service. And even the tools for documentation were underdeveloped. Beyond a special “Notes” field for writing down a project’s steps, the app experience felt like a watered-down version of Stories.

Image Credits: Hobbi

Facebook wasn’t alone in pursuing the potential of short-form creative content. Google’s internal R&D group, Area 120, also published its own experiment in this area with the video app Tangi. And Pinterest was recently spotted testing a new version of Story Pins, that would allow users to showcase DIY and creative content in a similar way.

It’s not surprising to see Hobbi wind down so quickly, given its lack of traction. Facebook already said its NPE Team experiments would involve apps that changed very rapidly and would shut down if consumers didn’t find them useful.

In addition to Hobbi, the NPE Team has launched a number of apps since last summer, including meme creator Whale, conversational app Bump, music app Aux, couples app Tuned, Apple Watch app Kit, audio calling app CatchUp, collaborative music app Collab, live event companion Venue, and predictions app Forecast. Before Hobbi, the only one to have shut down was Bump. (Some are not live in the U.S., either.)

Of course, Facebook may not intend to use these experiments to create a set of entirely new social apps built from the ground-up. Instead, it’s likely looking to collect data about what features resonate with users and how different creation tools are used. This is data that can inform Facebook’s development of features for its main set of apps, like Facebook, Messenger, WhatsApp and Instagram.

We’ve reached out to Facebook for comment but one had not been provided at the time of publication.



from TechCrunch https://ift.tt/2NGtu5p

Lyft’s self-driving test vehicles are back on public roads in California

Lyft’s self-driving vehicle division has restarted testing on public roads in California, several months after pausing operations amid the COVID-19 pandemic.

Lyft’s Level 5 program said Tuesday some of its autonomous vehicles are back on the road in Palo Alto and at its closed test track. The company has not resumed a pilot program that provided rides to Lyft employees in Palo Alto.

The company said it is following CDC guidelines for personal protective equipment and surface cleaning. It has also enacted several additional safety steps to prevent the spread of COVID. Each autonomous test vehicle is equipped with partitions to separate the two safety operators inside, the company said. The operators must wear face shields and submit to temperature checks. They’re also paired together for two weeks at a time.

Lyft’s Level 5 program — a nod to the SAE automated driving level that means the vehicle handles all driving in all conditions — launched in July 2017 but didn’t starting testing on California’s public roads until November 2018. Lyft then ramped up the testing program and its fleet. By late 2019, Lyft was driving four times more autonomous miles per quarter than it was six months prior.

Lyft had 19 autonomous vehicles testing on public roads in California in 2019, according to the California Department of Motor Vehicles, the primary agency that regulates AVs in the state. Those 19 vehicles, which operated during the reporting period of December 2018 to November 2019, drove nearly 43,000 miles in autonomous mode, according to Lyft’s annual report released in February. While that’s a tiny figure when compared to other companies such as Argo AI, Cruise and Waymo, it does represent progress within the program.

Lyft has supplemented its on-road testing with simulation, a strategy that it relied on more heavily during COVID-related shutdowns. And it will likely continue to lean on simulation even as local governments lift restrictions and the economy reopens.

Simulation is a cost-effective way to create additional control, repeatability and safety, according to a blog post released Tuesday by Robert Morgan, director of engineering, and Sameer Qureshi, director of product management at Level 5. The pair said simulation has also allowed the Level 5 unit to test its work without vehicles, without employees leaving their desks and, for the last few months, without leaving their homes. Level 5 employs more than 400 people in London, Munich and the United States.

Using simulation in the development of autonomous vehicle technology is a well-established tool in the industry. Lyft’s approach to data — which it uses to improve its simulations — is what differentiates the company from competitors. Lyft is using data collected from drivers on its ride-hailing app to improve simulation tests as well as build 3D maps and understand human driving patterns.

The Level 5 program is taking data from select vehicles in Lyft’s Express Drive program, which provides rental cars and SUVs to drivers on its platform as an alternative to options like long-term leasing.



from TechCrunch https://ift.tt/38mJkLV

AI vs AI in Pong Game

submitted by /u/Trevorego
[link] [comments]

from programming https://ift.tt/31wzrK5

Deploying Your NodeJS Code to a Server Every Time You Push with Github Actions

submitted by /u/branikita
[link] [comments]

from programming https://ift.tt/2AeTeCE

Monday, June 29, 2020

Another hour!

It's June 30, 2020 at 12:15PM

Strap in — a virtual Tour de France kicks off this weekend on the online racing platform Zwift

The pandemic has wreaked havoc on all manner of professional sports this year, and cycling has not been immune. For example, the best-known race on the planet, the Tour de France, normally staged in July, has had to be pushed back to August 29 through September 20.

That doesn’t mean that the world — and professional cyclists — can’t enjoy world-class racing this summer. In fact, beginning this coming weekend, 23 top men’s teams and 17 women’s teams will participate in a virtual version of the event that’s being hosted by six-year-old Zwift, after it was chosen by the official race organizer of the real tour, Amaury Sport Organization (ASO), as its partner on the event.

It’s a coup for the Long Beach, Calif., company whose multiplayer video game technology is used by both amateur and pro cyclists and that, according to Outside magazine, is now the biggest player in the growing online racing world.

Investors have noticed, funding the company to the tune of $170 million so far, says cofounder and CEO Eric Min.

This Tour has the potential to drive many more users its way, too.

For one thing, the virtual version of the event, which will feature six stages that last roughly hour over the next three weekends beginning this Saturday, will be broadcast in more than 130 countries. (The race gets underway with the first women’s stage, followed immediately by the men, and will be broadcast on NBC Sports here in the U.S.)

It’s hard to imagine another way for a company like Zwift to get so much exposure as quickly.

The race is also open to any cyclists on its platform who want to race on the same roads as the professionals, meaning anyone who wants to “compete” in this virtual tour needs to sign up for an account, though it’s worth noting a few things.

First, mere mortals won’t be racing at the same time as the cyclists in the Tour but during mass participation events during the week that will ostensibly provide them the chance to experience exactly what the pros went through and to compare their power, heart rate, cadence and other data to their pro rider heroes.

Also, Zwift is a subscription service. Users can check out the platform for a free, seven-day trial, but after that, Zwift charges $15 per month. Riders also need a smart trainer, which costs around $300. Zwift doesn’t make its own trainers — yet — but its software works with the hardware of a dozen or so companies.

Unsurprisingly, Min sounded both excited and terrified when we caught up with him last week to talk about the race, whose first two stages will be held in Zwift’s existing game world, Watopia, with the other stages orchestrated in virtual versions of real courses from the race.

Though Zwift has staged virtual races before —  including the Giro d’Italia, which is basically the Tour de France for Italy, and the Vuelta a Espana, an annual multi-stage race in Spain — it “doesn’t get any bigger than this,” said Min, who told us the idea was hatched six weeks ago with ASO and that Zwift has been working furiously to prepare for the race ever since.

It could prove a turning point for the outfit. It already has nearly two million accounts, and while subscribers ebb and flow, depending on the time of year, the virtual Tour is an opportunity for some of those riders to “reengage,” Min says, adding that Zwift has been growing 50 percent year over year, and has unsurprisingly seen pick-up accelerate throughout the pandemic.

Zwift doesn’t just cater to competitive athletes, Min stresses, saying that more than half the company’s customers are overweight and that, unlike Peleton, its customers are drawn less to particular instructors and more to the idea of being part of a club where they can train, take part in events, and compete with one another another, either in a public way or by via private rides wherein users share maps with friends, for example.

Either way, both amateur rider and professional racers will undoubtedly have high expectations of the Tour itself, even while it comes with more inherent challenges, including less time to break away from fellow riders than in the real-world tour, where each stage can take five or six hours.

Min thinks Zwift is ready. On our call, he discussed how Zwift convincingly creates drag, for example, walking through the software’s calculations, including a rider’s weight and body mass and the terrain they’re on and whether a rider is receiving draft from riders in front. Apply resistance to the machine  or easing it is what gives riders a sense of motion and inertia. “It’s not exactly like outdoor riding,” said Min, but combined with the software’s visual tools, meant to fool the mind, “it gets pretty darn close.

And that software, including the Tour maps, is now largely done, Min said. Now, Zwift just needs to ensure that its broadcast tools work as well as possible, among other last-minute priorities.

“We’ll do some dry runs [this] week. Then it’s showtime,” he said, before adding: “The stakes are pretty high. It has to be rock solid.”



from TechCrunch https://ift.tt/2YK7MDO

Disk space and LTO improvements | Inside Rust Blog

submitted by /u/PthariensFlame
[link] [comments]

from programming https://ift.tt/2CKWc2D

Another hour!

It's June 30, 2020 at 11:15AM

Social Distance Detector with Python, YOLOv4, Darknet, and OpenCV

submitted by /u/RavinduNavod
[link] [comments]

from programming https://ift.tt/3iaM8jX

Another hour!

It's June 30, 2020 at 10:15AM

JetPack Compose With Server Driven UI. A new way to build reactive apps with JetPack Compose UI. #AndroidDev #androiddevelopment #programming #jetpack #jetpackcompose #sdui #serverdrivenUI #reactiveapps

submitted by /u/siva_ganesh
[link] [comments]

from programming https://ift.tt/2NJRuEs

Another hour!

It's June 30, 2020 at 09:15AM

After losing Grubhub, Uber reportedly hails Postmates

Uber has reportedly made an offer to buy food delivery service Postmates, according to The New York Times.

According to the Times, the talks are still ongoing and the deal could fall through.

For those that have been paying attention to Uber, this appetite is not new, albeit consistent. A little over a month ago, the ride-hailing company was reportedly pursuing an acquisition of Grubhub,  another food delivery company. Grubhub was ultimately acquired by Just Eat Takeaway in a $7.3 billion deal, but only after the deal with Uber fell through over a variety of concerns.

Food delivery market has set to benefit largely from the COVID-19 pandemic, as stores remain shuttered or switch operations to takeout only. Latest earnings from the public ride-hailing company show that its ride-hailing business is slowing while its food delivery service is growing like hell. Gross bookings for Uber Eats last quarter were $4.68 billion.

So even though Uber still loses a ton of money ($2.94 billion including all costs), its Uber Eats growth is staggering. And the green shoots might be fueling some of this interest in other competitors.

Sources close to Uber told TechCrunch that regulatory concerns scuttled the company’s bid for GrubHub, but its chief executive later said the JustEat deal was better.

If regulatory concerns were an issue, Postmates may make a better fit.

With a valuation of $2.4 billion, Postmates is significantly smaller than Grubhub. And while the company filed to go public nearly 16 months ago, it held off eventually citing “choppy market” conditions.

So if Uber Eats and Postmates combined, the result would still be smaller than Doordash’s market hold, but would be competitive nonetheless. DoorDash, last valued at $13 billion, confidentially filed for an IPO nearly four months ago. 

Also, Postmates delivers more than just food.

If the merger goes through, the food delivery race would get refueled in an interesting way: Uber Eats and Postmates versus Grubhub and Takeaway versus DoorDash .

Postmates declined to comment on rumors or speculation. Uber did not immediately respond to a request for comment.



from TechCrunch https://ift.tt/3gag7X9

U.S. suspends export of sensitive tech to Hong Kong as China passes new national security law

The United States government began measures today to end its special status with Hong Kong, one month after Secretary of State Michael Pompeo told Congress that Hong Kong should no longer be considered autonomous from China. The new actions include suspending export license exceptions for sensitive U.S. technology and ending the export of defense equipment to Hong Kong. Both the Commerce and State Departments also said further restrictions are being evaluated.

The U.S. government’s announcements were made a few hours before news broke that China had passed a new national security law that will give it greater control over Hong Kong. It is expected to take effect on July 1, according to the South China Morning Post.

The term “special status” refers to arrangements that recognized the difference between Hong Kong and mainland China under the “one country, two systems” policy put into place when the United Kingdom handed control of Hong Kong back to Beijing in 1997. These included different export controls, immigration policies and lower tariffs. But that preferential treatment was put into jeopardy after China proposed the new national security law, which many Hong Kong residents fear will end the region’s judicial independence from Beijing.

The U.S Commerce Department and State Department issued separate statements today detailing the new restrictions on Hong Kong. Secretary of Commerce Wilbur Ross said the Commerce Department will suspend export license exceptions for sensitive U.S. technology, and that “further actions to eliminate differential treatment are also being evaluated.”

The State Department said that it will end exports of U.S. defense equipment and also “take steps toward imposing the same restrictions on U.S. defense and dual-use technologies to Hong Kong as it does for China.”

In a statement to Reuters, Kurt Tong, a former U.S. consul general in Hong Kong, said that the U.S. government’s decisions today would not impact a large amount of trade between the U.S. and Hong Kong because the territory is not a major manufacturing center and its economy is mostly services.

According to figures from the Office of the United States Trade Representative, Hong Kong accounted for 2.2% of overall U.S. exports in 2018, totaling $37.3 billion, with the top export categories being electrical machinery, precious metal and stones, art and antiques, and beef. But the new restrictions could make more difficult for U.S. semiconductor and other technology companies to do business with Hong Kong clients.

Other restrictions proposed by the United States including ending its extradition treaty with Hong Kong.

Both the State and Commerce departments said that the restrictions were put into place for national security reasons. “We can no longer distinguish between the export of controlled items to Hong Kong or to mainland China,” Pompeo wrote. “We cannot risk these items falling into the hands of the People’s Liberation Army, whose primary purpose is to uphold the dictatorship of the CCP by any means necessary.”

In his statement, Ross said, “With the Chinese Communist Party’s imposition of new security measures on Hong Kong, the risk that sensitive U.S. technology will be diverted to the People’s Liberation Army or Ministry of State Security has increased, all while undermining the territory’s autonomy.”



from TechCrunch https://ift.tt/2BfI8hs

Banking platform solarisBank raises $67.5 million at $360 million valuation

Despite the Wirecard fallout, German fintech startup solarisBank has raised a Series C funding round of $67.5 million (€60 million). Following today’s funding round, solarisBank is now valued at $360 million (€320 million). solarisBank doesn't have any consumer product directly. Instead, it offers financial services to other fintech companies through a set of APIs.

With solarisBank, you can build a fintech startup and leverage solarisBank’s line of products to do the heavy lifting. It’s an infrastructure company in the banking space.

While solarisBank might not be a familiar name, some of its clients have become quite popular. They include challenger banks, such as Tomorrow, Insha and a newcomer called Vivid, business banking startups, such as Penta and Kontist, trading app Trade Republic, cryptocurrency startups Bison and Bitwala, etc.

Overall, solarisBank works with 70 companies that have attracted 400,000 clients in total.

HV Holtzbrinck Ventures is leading the round with existing investor yabeo committing a substantial follow-on investment. Other new investors include Vulcan Capital, Samsung Catalyst Fund and Storm Ventures. Existing investors BBVA, SBI Group, ABN AMRO Ventures, Global Brain, Hegus and Lakestar are investing again.

The company started the fundraising process back in December. Due to the economic prospects, it has been a mixed process. “A lot of investors looked at their portfolio companies and the appetite to look at something new was not there,” solarisBank CEO Roland Folz told me. But everything worked out eventually as around half of the funding comes from existing investors.

“We originally were looking for €40 million but we were overwhelmed by the interest of investors in spite of Covid,” solarisBank Head of Strategy and Shareholder Relations Layla Qassim told me.

solarisBank’s vision could be summed up in two words — regulation and modularity. The company is a fully licensed bank, which means that its clients don’t have to apply to a banking license themselves.

And the startup lets you pick the modules that you want to use for your product. Maybe you’re building a mobile cryptocurrency wallet and you just want to be able to give an IBAN and a debit card to your users. Maybe you’re building a used car marketplace like CarNext and you want to offer credit. Maybe you want to build a challenger bank but address a specific vertical.

With solarisBank, you can open bank accounts and issue payment cards attached to those accounts. You can also issue cards and attach them to a different account in case you’re integrating with existing bank accounts. The startup also offers various services around payments, vouchers, cross-border transactions and more.

More recently, the company launched a new feature called Splitpay with American Express. When customers check out on an e-commerce platform in Germany, American Express customers will be able to choose a repayment plan to pay over multiple months.

solarisBank generates revenue from its clients as they pay to use the company’s APIs and enable accounts and cards. solarisBank also collects the interchange fees on card transactions and share revenue with its clients. Similarly, solarisBank can offer to share revenue on credit interests with its clients.

In the future, solarisBank plans to make its portfolio of financial services even more compelling by introducing local IBANs in the most important European markets. It should make it easier to convince potential clients outside of Germany to use solarisBank as their banking infrastructure.



from TechCrunch https://ift.tt/2Agj4Gz