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Technology
Proportunity, a London-based startup and Entrepreneur First alumni, wants to assist first time purchasers get on the property ladder previously or acquire a home more to their preference. The company, which recently became an FCA authorised home loan provider, declares to use maker learning to accurately forecast future home costs and the areas of London that will see the greatest growth in the next couple of years. Based upon self-confidence in this modelling, it will quickly begin providing equity loans to enhance your deposit when purchasing a very first home. Specifically, as soon as Proportunity has actually used its innovation to help determine a home for sale that both fits your needs and provides great house cost development potential customers, the startup will provide an equity loan of up to 15 percent of the propertyprice. You then integrate this loan with the cash you have already saved for a deposit so that you can apply for a home loan with a lower loan-to-value ratio, which in turn will command a lower rates of interest. The way it works is quite similar to the U.K. government & Help To Buy & plan, other than it isn & t limited to a brand-new build and you have to pay regular monthly interest on the loan from the start. Like Help To Buy, when you sell your home or remortgage it in five years time, you have to repay the Proportunity equity loan at 15 percent of the current market value. Therefore, if the rate of your house has actually gone up, the quantity you repay will have also increased. In the unlikelihood that the rate has gone down, the startup loses money. Overall, nevertheless, given that a Proportunity loan is interest-only up until you pay it back after five years, the company states the combined regular monthly repayments are less than if you took out a 95 percent home loan to purchase the very same home. And unlike shared ownership plans, you put on & t have to pay lease on the 15 percent of your home moneyed by a Proportunity loan. More broadly Proportunity is trying to solve an extremely London-centric problem: home rates are so high and continue to rise that by the time you save up for a 20 percent deposit to protect a home mortgage you can pay for, residential or commercial property rates in the location you want to purchase will have increased enough to put it out of reach again. Or you & ll be left buying a smaller sized home. & One of the most significant social difficulties we face is getting the next generation onto the housing ladder, & describes CEO Vadim Toader, who established Proportunity with CTO Stefan Boronea. & The greatest reason this is difficult is that itincreasingly hard to conserve up for a deposit, even for buyers with qualifying wages. What if we might use innovation to offer individuals a leg up onto the real estate ladder It all starts with forecasting &. To put its machine-learning home rate forecasting to the test, in July last year Proportunity worked with Post Office Money to assist very first time purchasers recognize the very best areas to purchase, not simply in terms of cost but also in regards to future growth. & This was insightful, as we learned that there are 200,000 fewer first time purchasers per year than there utilized to be, and 70 percent mention deposits as their most significant issue. If we can help these people find deposits, we can reverse the tide &. That, of course, is where the U.K. governmentown scheme is meant to start. However, Help To Buy can just support around 40,000 first time buyers, says Toader, partially because it has a limited budget and partially due to the fact that it only deals with brand-new properties. & The fascinating thing is that much of those overlooked have 2 terrific characteristics, & he says. & First they have a good income and exceptional prospects, and secondly they wish to buy in an area where we project residential or commercial property rates will grow considerably. The easy concern is they can not manage a 20 percent deposit. Our company believe our technology can assist &. To that end, Proportunity has actually secured £& pound; 5 million in credit to begin making equity loans. The startup itself —-- which becomes part of EF associate 7 —-- has raised £& pound; 2.7 million in funding to bring its equity loans to market and additional establish its price forecasting innovation. Backers include Global Founders Capital, Concrete VC (backed by Starwood Capital Group), Savills, EF, Trusted Insights, and Le Studio VC, together with angel financiers Matt Robinson (Nested), Chris Mairs (EF), Charlie Songhurst, Nicolas Berggruen, and Julian Critchlow. Finally, I & m informed that half of the Proportunity team, including Toader himself, is taking out a Proportunity loan. & We & re going through the process ourselves, being in the customershoes to much better understand it and repair it before releasing it to them. [I] guess it also reveals we & re consuming our own pet food &.
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Read more: Proportunity uses 'help to buy' loans based on forecasting future house costs
Write comment (100 Comments)Logistics on-demand service GoGoVan ended up being Hong Kongfirst billion-dollar start-up via a merger in 2015, and now is doubling down on growth after raising $250 million in brand-new capital. The new round was led byInnoVision Capital, with involvement from the Russia-China Investment Fund, Hongrun Capital and Qianhai Fund of Funds. 2 other significant financiers consist of AlibabaCainiao logistics subsidiary —-- Alibaba is currently a financier by means of its Hong Kong entrepreneurship fund —-- and58 Daojia Group, the moms and dad of the & 58 Suyun & service that merged with GoGoVan. Theremore capital coming soon it seems, with GoGoVan stating in an announcement that the $250 million is & the first stage of its new round of funding. & Despite reaching unicorn status by means of the merger, GoGoVan didn & t reveal an assessment for this brand-new round. The company prepares to use the money to expand its service into new markets, and in specific India and Southeast Asia, having focused on China mainly to date. Together with58 Suyun, GoGoVan claims to cover 300 cities with some 8 million signed up users and 2,000 staff. The service itself is anchored around brief distance logistics and journeys, but GoGoVan CEOSteven Lam explainedthatthe company prepares to quickly present a door-to-door option and other offerings that & simplify logistics and delivery services. &. GoGoVanmain rival is Lalamove, a fellow Hong Kong-based logisticsstartup.Lalamove raised $100 million last yearat a valuation of almost $1 billion. While GoGoVanexit was its merger, Lalamove is looking to remain independent and it has begunthinking about an IPO, which might occur in Hong Kong, its head of international Blake Larson told TechCrunch. GoGoVan and Lalamove are two of the last that remain standing from what was when a very chaotic field as the increase of Uber saw dozens of companies sprout up as an ‘& lsquo; Uber for logistics & services. The secret to their survival Getting deep into the Chinese market is one vital aspect, but from speaking to the 2 business for many years, both castthe ‘& lsquo; Uber for X & buzzword aside and focused on dealing with SMEs and repeat service clients rather than the shallow (and fickle) consumer market. UberCargo service, for example, provided on-demand logistics in Hong Kong but it didn & t live long before being shuttered.
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Read more: Hong Kong's GoGoVan raises $250M from investors including Alibaba's logistics subsidiary
Write comment (100 Comments)Eatigo, a Southeast Asia-based dining service that describes itself as an ‘anti-Groupon& for restaurants, had a busy 2017 that saw it expand into a number of markets including India.Now it is primed to continue that growth further still after it gobbled down a fresh serving of capital from TripAdvisor, the travel giant that it already counts as an investor.
Ok, no more food jokes, I promise…
The funding is undisclosed but EatigoCEO and co-founder Michael Cluzel told TechCrunch it is‘eight-digits.& We do know that it takes Eatigo to over $25 million raised to date which, given that the startup had raised more than $15 million following the completion of its previous round, suggests that the amount is around the $10 million mark.
Eatigo was founded in Bangkok in 2013 and it is designed to help restaurants fill unused inventory by offering deals to customers at certain times of the day. The appeal to eaters is deals,but unlike group buying services such as Groupon, Eatigo encourages restaurants to manage their inventory and time so that they are filling their quiet hours for additional revenue not ramming people into restaurants for the sake of it. The latter scenario, of course, puts pressure on staff, reduces service quality and is generally not conducive to a good dining experience. It is also questionable whether discounts drive long-time loyalty, a cornerstone the Groupon of old was built on, but I digress.
The Eatigo service is present in six countries where it claims four million registered users and over 4,000 restaurants. That latter number ranges from high-end affairs, such as upscale hotel restaurants, to chain outlets and — my own personal favorite — street food outlets.
The important part here, besides the money, is that this new deal appears to signal a closer relationship between Eatigo and TripAdvisor, and particularly TripAdvisorThe Fork subsidiary and its TripAdvisor Restaurants service.
The Fork, which the company got via a 2014 acquisition, is TripAdvisorexpansion into food, allowing users to find information on availability and bookings on restaurants and in cities. Like Eatigo, it allows for advanced bookings at a discount but the service is squarely focused on Europe, having initially been founded in France. In that respect, it makes sense for the duo to collaborate.
&As we look to further our presence in the Asia Pacific region, we believe our latest strategic investment in Eatigo will continue to support a great business and strong management team. TripAdvisorcontinued partnership with Eatigo will help us both better serve millions of diners and restaurant owners who are increasingly turning to online channels,&said Bertrand Jelensperger, whos is senior VP of TripAdvisor Restaurants and the founder of TheFork, in a statement.
Cluzel, the Eatigo CEO, told TechCrunch that his company is looking to expand in Southeast Asia and the wider Asian market but, on the product side, it is preparing a new service that will &move beyond our original scope of doing just time-based discounts.&
What exactly that is — and how/whether it is tied to TripAdvisor or The Fork — he wouldn&t say at this point.
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Read more: Restaurant booking startup Eatigo chows down ~$10M more from TripAdvisor
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Amazon Prime Day 2018 has been up and running since midday today and you've landed on the best page to browse all of the best Amazon Prime Day deals of 2018! We've seen some really exciting deals so far, including cheapest ever prices on the Amazon Echo, Echo Dot and Fire TV Stick.
The most popular deals on TheIndianSubcontinent so far have been
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The bottom line: Not everyone needs headphones dripping with tech. The Bang - Olufsen BeoPlay H4 are solid wireless headphones that don’t have active noise cancelling, jaw-dropping battery life or aptX HD. However, they are comfortable, sound and look good, and last a solid 19 hours between charges. B-O also takes it usual approach to m
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Read more: Should I buy the Bang Olufsen BeoPlay H4 wireless headphones
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In 2018, everywhere you look has some mention of Bitcoin or another cryptocurrency. Bitcoin erupted in popularity last year, and while its losing its popularity and its meteoric growth has slowed to a crawl – there are still plenty of cryptocurrencies that are booming. So it shouldn’t be surprising that in 2018, everyone wants a piece of the act
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Read more: Best mining GPU 2018 : the best graphics cards for mining Bitcoin, Ethereum and more
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