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Salmon Completes a Significantly Oversubscribed $30 Million Series A-2 Financing Round, Secures Funding from Existing Investors


MANILA, PHILIPPINES – Media OutReach Newswire – 4 October 2024 – Salmon, a leading provider of financial services and consumer lending products in Southeast Asia, operating a licensed bank in the Philippines, today announces the successful completion of its $30 million Series A-2 equity financing round. The planned round saw strong participation from key institutional investors of the Company, including the International Finance Corporation (IFC) and Lunate of Abu Dhabi, with both committing amounts substantially in excess of their pro-rata allocation rights.

The funds will be directed toward continued scaling of Salmon’s profitable lending business and launching new products designed to meet the evolving needs of more than 50 million Filipino consumers underserved by the legacy banks. A portion of the proceeds will also bolster the company’s marketing activities at thousands of retail locations across the Philippines, as well as expand its online offering.

In addition, subject to receiving regulatory approvals from the Bangko Sentral ng Pilipinas (BSP), Salmon intends to allocate a portion of the proceeds to strengthen the capital base of the Rural Bank of Sta. Rosa (Laguna), with plans to increase the bank’s total capital to PHP 1.2 billion by the end of 2025. This capital infusion will support the bank’s continued growth. Over the past six months, the Rural Bank of Sta. Rosa (Laguna) has emerged as the fastest-growing bank in the country, achieving one of the highest returns on equity (ROE) among regulated financial institutions in the Philippines.

Pavel Fedorov, Co-Founder of Salmon, commented:
“Salmon’s mission has always been to drive financial inclusion, and the Philippines is one of the most exciting markets globally for unlocking access to credit. With this latest investment round, we are positioned to scale our operations even further, bring new products to market, and deepen our partnerships across the financial ecosystem. The recent success of the Rural Bank of Sta Rosa (Laguna), with its exceptional growth and market-leading ROE, is a testament to the potential of combining innovation with a strong commitment to local communities.”

This new investment round underscores the confidence that global institutional investors have in Salmon’s ability to continue delivering transformative financial solutions in the Philippines and beyond.

Hashtag: #Salmon




The issuer is solely responsible for the content of this announcement.

About Salmon:

Salmon is a pioneering fintech company focused on delivering innovative lending solutions to underserved consumers in Southeast Asia. By combining cutting-edge AI technology with deep market insights, Salmon empowers individuals to access credit, fostering financial inclusion and driving economic growth in the region.

Website:

Gorilla Technology Takes Strong Stance Against Market Manipulation


LONDON, UNITED KINGDOM – Newsfile Corp. – 3 October 2024 – Gorilla Technology Group Inc. (NASDAQ: GRRR) (“Gorilla” or the “Company”), today issued a firm statement regarding its uncompromising approach to safeguarding the integrity of its stock. The Company has been relentless in policing trading activities around its securities and is deeply concerned by what it sees as ongoing manipulation attempts.

In August 2023, Gorilla announced that an investigation of suspicious trading activity had uncovered evidence suggesting manipulation of its share price. In June and again in September this year, Gorilla identified further suspicious trading activity. This suspected manipulation was promptly and thoroughly investigated, and the findings have been reported to the U.S. Securities and Exchange Commission (SEC). The Company will not tolerate any actions that undermine the transparency and fairness of the market and Gorilla will continue to actively monitor and combat any such behaviour to protect our shareholders.

We would also like to reaffirm that Gorilla will seek additional opportunities to repurchase more of its shares under its recently announced share buyback programme, reaffirming our belief that the company’s stock remains substantially undervalued given the Company’s announced financial performance. The Company is focused on continuing to execute on its business strategy and deliver continued growth and profitability.

About Gorilla Technology Group Inc.

Headquartered in London U.K., Gorilla is a global solution provider in Security Intelligence, Network Intelligence, Business Intelligence and IoT technology. We provide a wide range of solutions, including, Smart City, Network, Video, Security Convergence and IoT, across select verticals of Government & Public Services, Manufacturing, Telecom, Retail, Transportation & Logistics, Healthcare and Education, by using AI and Deep Learning Technologies.

Our expertise lies in revolutionizing urban operations, bolstering security and enhancing resilience. We deliver pioneering products that harness the power of AI in intelligent video surveillance, facial recognition, license plate recognition, edge computing, post-event analytics and advanced cybersecurity technologies. By integrating these AI-driven technologies, we empower Smart Cities to enhance efficiency, safety and cybersecurity measures, ultimately improving the quality of life for residents.

For more information, please visit our website: Gorilla-Technology.com.

Forward-Looking Statements

This press release contains forward-looking statements, which are based on estimates, assumptions, and expectations. Actual results and performance could differ materially and adversely from those expressed or implied in forward-looking statements. Gorilla does not undertake any obligation to update any forward-looking statements, except as required by law.

Investor Relations Contact:
Dave Gentry
RedChip Companies, Inc.
1-407-644-4256
GRRR@redchip.com

The issuer is solely responsible for the content of this announcement.

About Gorilla Technology Group Inc.

Laos and South Korea Deepen Agricultural Cooperation in Key Areas

Laos and South Korea Deepen Agricultural Cooperation in Key Areas
An amended Memorandum of Understanding is signed on Laos-ROK agricultural cooperation. (photo credit: Vientiane Times)

Laos and South Korea have strengthened agricultural cooperation, focusing on modernizing Laos’s farming sector and boosting ties within ASEAN.

World Bank Approves USD 56 Million Climate-Resilient Road Project in Laos

The World Bank has approved the launch of the Climate-Resilient Road Connectivity Improvement Project in Laos on 1 October to improve road and transportation in impoverished areas.

Laos Suspends Public Activities to Facilitate ASEAN Summit

Laos Suspends Public Activities to Facilitate ASEAN Summit
Flags of ASEAN countries (photo credit: Laopost)

The Lao government has issued a notice announcing the cancellation of activities within Vientiane Capital, including teacher’s day activities for schools in Saysettha district to ensure peace and security during the upcoming ASEAN Summit.

Vouch Harnesses AI to Boost Hotel Efficiency and Revenue


SINGAPORE – Media OutReach Newswire – 3 October 2024 – Vouch, the award-winning hotel operations management solutions provider, today announced the expansion of its product suite with innovative AI-powered features. These enhancements, designed to significantly boost operational efficiency and drive revenue growth for hotels, mark a significant step forward for the hospitality industry.

Vouch - AI for Hospitality
Vouch – AI for Hospitality

Fastest to Deploy, Easiest to Use
AI Rapid Set Up

As part of the expansion, Vouch’s Guest Experience Platform now boasts a new rapid one-click setup, reducing platform development time from weeks to hours as AI streamlines the process by auto-populating content, eliminating the need for manual configuration.

Multi-Language AI Support

Another key enhancement is the Guest Experience Platform’s multi-language AI support, which eliminates language barriers by accurately translating requests and responses in real-time. Guests can now submit requests, such as dietary preferences or requirements, in any language, while hotel staff respond seamlessly in their own – guaranteeing guest needs are fully understood and met.

AI-Powered Revenue Generation

In addition to streamlining operations, Vouch’s AI upselling tool helps hoteliers maximise revenue potential by taking the guesswork out of upselling. By analysing guest behaviour, Vouch AI anticipates what guests want and recommends high-performing room service pairings, upgrades, and add-ons. It even optimises item names and descriptions to boost conversions.

Maximising Productivity with AI Automation

Beyond guest interactions, Vouch has also integrated AI into its backend task management system, enabling hotels to automate routine tasks and streamline workflows for greater efficiency. From automating housekeeping tasks to managing maintenance requests, hotels can now enhance operational efficiency, freeing up staff to focus on delivering exceptional guest experiences.

Investor Confidence and Growth

To accelerate its AI development, Vouch recently closed a funding round of US$2.5 million.

“Businesses today seek both efficiency and adaptability, and Vouch’s AI-driven solutions deliver on both fronts. Their strategic focus on rapid deployment and minimising disruption addresses a key pain point in the hotel industry. We believe this unique approach positions Vouch as a market leader by enabling hotels to seamlessly adopt innovation, without the usual barriers of managing complex change,” said Tiang Lim Foo, Partner at Forge Ventures.

“We understand that dealing with complicated tech implementations can significantly drain a hotel’s time and resources. That’s why we designed our solutions to be the fastest to deploy and the easiest to use in the market.” said Joseph Ling, Founder & CEO of Vouch. “As exciting as AI is, our focus has always been on delivering tangible results, not just showcasing advanced technology but harnessing it to create meaningful improvements for our clients.”

To celebrate this milestone, Vouch is offering a free trial of its AI-powered solutions throughout October. Contact Vouch for more information.
Hashtag: #VouchAI #HotelTech #HospitalityInnovation #AIAutomation #SmartHotels #DigitalTransformation #TravelTech #HotelOperations #HospitalityTechnology





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The issuer is solely responsible for the content of this announcement.

Vouch

Vouch is a multi-award-winning provider of AI-powered hotel management solutions.

Trusted by the world’s leading hotel brands, Vouch services 35,000+ rooms across 32 cities, empowering hoteliers to boost revenue, enhance guest experience, and increase operational efficiency.

NTT Honored as Most Outstanding Private 5G Network Service Provider of the Year

Reaffirming the significance of enabling smart city innovation through market-leading Private 5G capabilities


HONG KONG SAR – Media OutReach Newswire – 3 October 2024 – As part of NTT Group, a world-leading telecommunications and ICT service provider, NTT Com Asia (NTT) has proudly received the prestigious “Most Outstanding Private 5G Network Service Provider of the Year” award at the HKCT Business Awards 2024. Organized by Hong Kong Commercial Times, this esteemed award recognises the effort and achievements of enterprises in the community via business excellence and visionary direction.

NTT Honored as Most Outstanding Private 5G Network Service Provider of the Year

Following the acquisition of Hong Kong’s first Localized Wireless Broadband System (Private) Licence earlier this year, NTT launched the docomo 5G DX Square, an innovation lab designed for local innovators to co-develop AI, Edge and IoT applications within a first-of-its-kind Private (P5G) environment in Hong Kong. This milestone underscores NTT’s dedication and P5G capabilities to driving Smart City innovation by providing innovators with a robust and scalable wireless backbone for new use cases.

“NTT is a global leader in Private 5G deployment, boasting a diverse portfolio of successful implementation worldwide. This award reflects our successful expansion of P5G capabilities in Hong Kong, propelling innovations through our mobile-first strategy. It also emphasizes how P5G can serve as a connectivity enabler for smart city development, meeting enterprises’ demand for uplink-centric and mission-critical applications in the digital era.” said Phil McManus, Director, Business Innovation, NTT Com Asia.

Looking ahead, to fully unleash the potential of P5G technology for the community through collaborative efforts, innovators are welcome to join the NTT Innovation Alliance Program to actualize ideas and commercialize solutions through co-development opportunities with NTT and the entire technology ecosystem.

For more information about NTT, please visit: www.ntt.com.hk.

Hashtag: #NTT

The issuer is solely responsible for the content of this announcement.

About NTT Com Asia

As part of NTT Group, a world-class leader in telecommunications and ICT services, NTT Com Asia Limited (“NTT”) is dedicated to delivering the best ICT infrastructure and disruptive technologies with the vision to enable a smarter world.

Riding on the leading enterprise mobile technology from docomo business in Japan, we are bringing cutting-edge and ready-to-market IoT, AI and other digital solutions to support enterprises to develop a mobile-first strategy in their digitalisation journey.

For more information, please visit: .

XTransfer Named in “2024 Global Digital Trade Industry Enterprise 100”


HONG KONG SAR – Media OutReach Newswire – 3 October 2024 – XTransfer, the World’s Leading & China’s No.1 B2B Cross-Border Trade Payment Platform, is pleased to announce that it has been selected in the “2024 Global Digital Trade Industry Enterprise 100” list. XTransfer received the award on stage along with nine other outstanding enterprises including Meridian Capital and LinkedIn.

Leon Deng, Co-Founder and co-CGO of XTransfer
Leon Deng, Co-Founder and co-CGO of XTransfer

During “The Third Global Digital Trade Expo”, the “2024 Global Digital Trade Industry Enterprise 100” list was announced. XTransfer was selected for its technological innovation and leadership in B2B cross-border financial and risk control services. The company received the award on stage along with nine other outstanding enterprises, including Meridian Capital and LinkedIn. The award was presented by Mr. Ma Weiguang, Chairman of Hangzhou CPPCC, and Mr. Qian Houlin, Director of Forbes China Research Institute.

The Global Digital Trade Expo is co-hosted by the People’s Government of Zhejiang Province and the Ministry of Commerce, China. Co-organised by the Hangzhou Municipal People’s Government, the Department of Commerce of Zhejiang Province, and the Trade Development Bureau of the Ministry of Commerce, China. This expo is China’s only national, international, and professional trade show focusing on digital trade. XTransfer has been selected on the list, reflecting recognition of its contribution to the field of global trade digitisation and affirming the company’s potential for future development.

During the event, Leon Deng, Co-Founder and co-CGO of XTransfer, was invited to participate in the Forbes China Digital Trade Dialogue. He took part in the roundtable forum on “Global Digital Trade and Cross-border Operational Innovation,” where he discussed the new trend of digital trade development with leaders from companies like LinkedIn and UniUni.

The digitisation of global trade is an important trend in the current development of international trade. By using the internet, big data, cloud computing, artificial intelligence, and other technological means, trade efficiency can be improved, costs can be reduced, transparency can be enhanced, and trade facilitation can be promoted. Optimising cross-border settlement is an extremely important step in promoting trade facilitation. For SMEs, the efficiency of cross-border trade capital flow may directly affect the survival of the enterprises. XTransfer utilises AI, big data technology, and more to connect large financial institutions and SMEs in China and abroad, greatly improving the efficiency of cross-border trade capital flow.

Leon pointed out, “With the development of technology, the digital transformation of the whole chain of cross-border trade is an inevitable trend. In recent years, there has been a rise in eco-service providers for cross-border trade, encompassing logistics and marketing. These providers will leverage new technologies to offer more diverse and localised products and services to foreign trade enterprises. XTransfer aims to collaborate with these ecosystem service providers with an open and mutually beneficial approach. This collaboration will help foreign trade enterprises address cross-border settlement issues, enhance transaction efficiency, and ensure security and compliance by offering advanced cross-border payment and financial solutions.”

XTransfer focuses on building a one-stop B2B foreign trade finance platform, providing integrated solutions for foreign trade payment collection, multi-currency cash management, financing, and risk control services. Utilising advanced AI and big data technologies, XTransfer has built a data-driven, automated, Internet-enabled, and intelligent anti-money laundering risk control infrastructure centred on SMEs. Through cooperation with renowned multinational banks and financial institutions, XTransfer enables SMEs to enjoy cross-border financial services at the same level as those provided to large multinational companies.

Hashtag: #XTransfer #CrossBorder #Payment #SMEs




The issuer is solely responsible for the content of this announcement.

XTransfer

XTransfer, World’s Leading & China’s No.1 B2B Cross-Border Trade Payment Platform, is dedicated to providing SMEs with secure, compliant, fast, convenient and low-cost foreign trade payment & fund collection solutions, significantly reducing the cost of global expansion and enhancing global competitiveness. Founded in 2017, the company is headquartered in Shanghai and has branches in Hong Kong SAR, the United Kingdom, the Netherlands, the United States, Canada, Japan, Australia, Singapore, Vietnam, Thailand and Malaysia. XTransfer has obtained local payment licenses in Hong Kong, the United Kingdom, the United States, Canada, and Australia. With more than 550,000 enterprise clients, XTransfer has become the industry No.1 in China.

By cooperating with well-known multinational banks and financial institutions, XTransfer has built a unified global multi-currency clearing network and built a data-based, automated, Internet-based and intelligent anti-money laundering risk control infrastructure centred on small and medium enterprises. XTransfer uses technology as a bridge to link large financial institutions and small and medium enterprises around the world, allowing SMEs to enjoy the same level of cross-border financial services as large multinational corporations.

XTransfer completed its Series D financing in September 2021 and achieved unicorn status. The Company possesses a diverse composition of international investors, including D1 Capital Partners LP, Telstra Ventures, China Merchants Venture, eWTP Capital, Yunqi Capital, Gaorong Capital, 01VC, MindWorks and Lavender Hill Capital Partners.

For more information: