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written by Allison Rosa
Forbes Finance Council Members Raise Series A Rounds, Launch New Products and More
In this news roundup, learn about the exciting achievements of Finance Council members in 2017 and 2018.
The new year is a time to reflect on the wins of 2017 and the growth companies can look forward to in 2018. Forbes Finance Council members have had a lot to celebrate in the last few months and are already meeting new goals. Below, we highlight five members and their big news.
PayStand Raises $6M in Series A Round and Releases Beta Accounts Payable Platform
In November 2017, PayStand announced a fresh $6M injection of Series A venture capital funds and the early access release of its beta accounts payable platform. Led by founder and CEO Jeremy Almond, PayStand is a B2B payment platform for the future of business.
“With technology advanced enough to give us self-driving cars and rockets to Mars, there’s no reason finance should be stuck with paper checks and spreadsheets anymore,” said Almond. “Yet most U.S. business payments still run on manual, pre-internet systems. PayStand takes the best of automation, customization and blockchain technology to finally bring B2B payments into the Digital Age.”
The Series A round was led by BlueRun Ventures with participation from Cervin Ventures, Serra Ventures, TiE and Capital for Founders. PayStand is using this funding to scale its accounts receivable systems and launch a free accounts payable product line. Now available in beta, the new PayStand AP solution will enable businesses to completely automate their accounts payables to improve efficiency, security and control.
Read more about this exciting news here.
Next Generation Services Launches Sister Company and CEO Jaime Raskulinecz Named Finalist for Prestigious Award
Next Generation Services, led by founder and CEO Jaime Raskulinecz, announced the launch of its sister firm, Next Generation Trust Company – a licensed, chartered trust company that will be the new custodian for all accounts. Next Generation Services will be the servicing company and administration arm for the self-directed accounts whose assets will be held by Next Generation Trust Company.
“The opening of Next Generation Trust Company is the culmination of many years of planning and preparation. It is the fulfillment of my long-term vision for Next Generation to become fully self-sufficient in terms of both account administration and custodianship for our clients’ assets,” said Raskulinecz.
Read more about the launch here.
In addition, Raskulinecz recently celebrated a personal achievement: She was named a finalist in the Ernst & Young Entrepreneur of the Year® 2017 Award, New Jersey Region. The awards program recognizes entrepreneurs who are excelling in areas such as innovation, financial performance and personal commitment to their businesses and communities. Learn more about this notable achievement here.
Bitaccess Launches Cryptocurrency Portfolio Manager, faa.st, and Announces That Canadian Government Is Using Bitaccess’ Latest Product
Bitaccess, led by co-founder Moe Adham, launched faa.st, a cryptocurrency portfolio manager with powerful features, at the end of 2017. This effective and simple product is a secure way to build your portfolio, enabling users to instantly exchange one crypto asset for another. It currently supports over 80 blockchain tokens, with more being added every day.
Bitaccess produces the world’s leading Bitcoin automatic teller machine (BTM) and has a mission to provide every person and business with access to alternative financial services.
Last Friday, Bitaccess was also excited to announce that the Government of Canada is experimenting with the Ethereum blockchain. The National Research Council of Canada, through its Industrial Research Assistance Program (NRC IRAP), is leveraging Bitaccess’ latest product, the Catena Blockchain Suite, a set of software services that allows public institutions to publish complex datasets onto a Blockchain.
“Our goal is to enable institutions to become fully transparent, and enable constituents to participate in the verification and validation of public information,” said Adham. “We built the Catena Blockchain Suite as a simple, low risk, application for institutions to get introduced to blockchain technology.”
Read more about how The National Research Council of Canada is leveraging this technology here.
sweetFrog Celebrates Growth and Industry Recognition
In November, sweetFrog hosted a franchisee convention with almost 150 attendees from locations across the country. The three-day conference included educational sessions, leadership workshops and lively social hours.
“This company was built on the premise of remaining faithful to our commitment to our local communities, and that remains the case today,” says Galleher. “We developed and implemented strategies and practices that would reinforce our position as a leader within the industry and pillars in each community we serve.”
sweetFrog is expanding again with a new franchise location in Timonium, MD. This is 28th location in Maryland and the 5th in the Baltimore area and will be owned by local restauranteur Patrick Beard.
sweetFrog is also proud to announce that it was included on Entrepreneur Magazine’s ranking of 2017’s Top U.S. Franchises for Veterans. It ranked #23 thanks to its the stellar programs and incentives that are made available to help veterans become franchise business owners.
In December, sweetFrog joined The Salvation Army Central Virginia’s world renowned Red Kettle campaign to raise funds that support important services in the Greater Richmond area, including shelter, nourishment, youth development programs, homeless prevention and case work.
Ceterus Acquires Sandwich Math
Ceterus recently announced the acquisition of Sandwich Math, an accounting and bookkeeping firm serving sandwich restaurant franchises specifically. Led by founder and CEO Levi Morehouse, Ceterus provides managed bookkeeping and tax services to thousands of small businesses and franchisees.
“We are very excited to be working with the leadership team at Sandwich Math and continue our focus on empowering small business entrepreneurs, especially in franchise markets,” said Morehouse. “Working with Sandwich Math CEO Nick Olson and his team, we can serve a larger number of QSRs and provide even more comprehensive data to our customers about the health of their industry, which helps to inform and guide their business decisions.”
These are just a handful of Forbes Councils members’ recent exciting achievements. Read about what other members are working on here.
Have news of your own to share with the community? Submit your accomplishments to our team by visiting the “get media exposure” page in your member dashboard.