By Nancy Dahlberg
New benefit available to select startups with global expansion ambitions
Financial technology company Rapyd is partnering with the City of Miami to waive up to $5 million in payment processing fees for 20 tech companies that are either based in Miami or want to relocate to the city. It’s part of its $100 Million Miami Tech Power Initiative to encourage growth of the tech ecosystem, the company said. The fintech provider, based in the United Kingdom, has had a presence in Miami since 2018.
“The world is becoming more ‘local’ with an increased focus on creating authentic experiences. Rapyd specializes in connecting business and consumers no matter where they are located or what they do, starting in local markets and expanding into strong global connections to break down boundaries,” said Eric Rosenthal, Vice President and Managing Director of the Americas for Rapyd. “We see that Miami is rapidly becoming a central destination for technology development. Our goal is to work with local ecosystems that are looking to change the way business is done globally and make investments to help power that growth. Miami represents this "shift" as a rapidly emerging destination of technology development and innovation which is why Rapyd is making this investment in the local ecosystem.”
In addition to companies and employees moving to new locations, COVID has prompted businesses that used to focus on selling locally to expand into global markets. Rapyd’s initiative will empower these businesses to get their international plans off the ground or expand their operations into new markets which will power the next generation of commerce without borders, the company said. Rapyd’s platform enables companies to quickly adopt and offer locally preferred payment methods through an easy-to-use API while managing diverse compliance and regulatory requirements.
Interested companies can apply here,
Miami Beach offering incentives to relocating tech firms
Attention, visiting founders, Miami Beach wants you too. The City of Miami Beach will offer between $180,000 and $240,000 to qualifying tech and financial companies that aims to relocate and create new jobs in Miami Beach,. The businesses would be eligible for cash payments over a three- to four-year period. To qualify, companies need to create a minimum of 10 new jobs based in Miami Beach that pay 125% above the average wage for Miami-Dade County or Florida, whichever is higher at the time of the application.
The South Florida Business Journal noted that Miami Beach also recently put a call out to developers interested in building Class A office space on city-owned land near Lincoln Road – 17 responded. Tech companies who already call Miami Beach include Bolt Mobility, Wix.com and Blink Charging Co. Read more in SFBJ here.
Miami mayor reports back on visit with Boring Company
After Miami Mayor Francis Suarez and other local officials visited Elon Musk’s tunnel system under Las Vegas, the mayor said he believes Musk’s Boring Company can build a new mass transit system in Miami’s urban core, the Miami Herald reported.
Originally, Suarez visited to discuss whether Boring Company could build a Brickell Avenue tunnel, but Suarez’s new vision involves a pedestrian transportation system connecting commuters from Brickell to as far north as Little Haiti, with multiple stops. According to Suarez, the system would utilize adapted electric SUVs ro transport up to five passengers each through the tunnel system at high speeds. Read more in the Miami Herald here.
Miami-based Technisys buys AI company
Miami-based fintech Technisys announced its acquisition of Kona, a Uruguayan company that uses AI to improve customer experiences. Terms of the deal were not disclosed. w
Technisys, the company behind the digital banking platform known as Cyberbank, said the acquisition accelerates Technisys’s plan to expand its platform capabilities and further redefine its customer experience. “This acquisition continues to solidify Technisys as a core and digital banking platform leader. With Kona’s conversational AI capabilities, Technisys will continue to empower financial institutions to deliver differentiation via tailored product offerings that address the unique needs of each and every customer, dynamically, in whatever channel the customer chooses,” said Mike Santos, Technisys CEO and co-founder.
Technisys’ banking and fintech customers include HSBC, Rellevate, TABbank and Brazil's Banco Itaú and span 16 countries.
Full circle moment for the Mikkolas
Juha and Johanna Mikkola have joined Miami Angels to begin investing in the next generation of Miami startups. It was only two months ago the Wyncode founders announced that the coding and tech training academy was being acquired by BrainStation. The couple, who are Endeavor Entrepreneurs, are staying on at BrainStation. Congratulations you two on your full circle moment.
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