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Novo, the SMB neobank, nabs $90M at a $700M valuation

TechCrunch

There are a number of fintechs, some that describe themselves as challenger banks, in the market today catering to SMBs. (We’ve They are the only ones we are concerned with because they own 99% of the market,” said Michel Rangel, CEO of Novo, in an interview earlier this month.

SMB 247
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What is a managed service provider? Strategic outsourcing for IT services

CIO

A managed service provider (MSP) is an outsourcer contracted to remotely manage or deliver IT services such as network, application, infrastructure, or security management to a client company by assuming full responsibility for those services, determining proactively what technologies and services are needed to fulfill the client’s needs.

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Acumatica goes all-in on AI with hundreds of enhancements to its ERP platform

CIO

It is also continuing its expansion into more underserved niche markets. Automation and AI are critical Acumatica is a leader in the small and medium business (SMB) ERP market, and is unique in that it offers industry-specific platforms for general business, distribution, retail, manufacturing, and construction.

UI/UX 285
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With the new financial year looming, now is a good time to review your Microsoft 365 licenses

CIO

Microsoft 365 is the productivity engine at the heart of many SMB businesses across Australia. Licensing can sometimes be complex to understand, however, which is why SMBs should make sure they’re sourcing their licenses from the right places. Having the right licenses for the applications the business needs are critical.

SMB 130
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Factorial adds $120M and doubles valuation to $1B to build enterprise-quality HR for SMBs

TechCrunch

Small and medium businesses, long overlooked in the building of innovative technology, have lately become a key focus in the world of B2B software. While developed markets like the U.S., While developed markets like the U.S., Our market share is ridiculously small and it’s mostly greenfield.”

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So much fintech M&A

TechCrunch

On Friday, January 13, investment giant BlackRock announced it was acquiring a minority stake in SMB 401(k) provider startup Human Interest. For one, as one source told me, BlackRock’s investment is a show of faith in the SMB 401(k) market — one where the firm hasn’t historically played.

Fintech 294
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TechCrunch+ roundup: Optimizing acquisition, parental leave tips, riding the downturn express

TechCrunch

Despite the quickening pace of layoffs, there is some good news for SaaS startups: 70% of SMBs plan to increase IT spending in 2023, and the procurement process is getting faster. “At the awareness stage, businesses are looking to solve a problem or challenge using technology,” writes Hogan.