February 3, 2022

FloQast Celebrates 2021 as Landmark Year for Company Growth

Fueled by a Successful Series D Funding Round and Hiring Campaign, FloQast Continues Building Momentum Throughout Q4 with Massive YoY Growth Rate

LOS ANGELES, Feb. 03, 2022 (GLOBE NEWSWIRE) — FloQast, a provider of accounting workflow automation software created by accountants for accountants, today announced its Q4 and 2021 metrics, concluding a milestone year highlighted by international expansion, new product and company initiatives, industry accolades, and the biggest growth the company has seen since its launch. The company reported 97% year-over-year growth in annual recurring revenue (ARR) for the quarter, as well as 153% year-over-year growth in net new ARR for 2021. Further, with more than 1,500 customers globally, FloQast added 171 new customers in Q4. These milestones stem from the recent $110 million Series D funding, led by Meritech Capital, and further the company’s leadership role in workflow automation technology.

“This past year, FloQast experienced exceptional growth across the board – including funding, product and platform launches, customer acquisition and more – making this one of the most important and successful years for the company since we were founded,” says Mike Whitmire, inactive CPA, co-founder and CEO at FloQast. “This growth is a testament to the critical advances taking root across the accounting industry and highlights FloQast’s ability to deliver next-generation technology to usher in a new era of modernization and change.”

Over the course of 2021, FloQast experienced milestones in several key areas:

A successful $110 million Series D funding round, led by Meritech Capital, and a valuation of $1.2 billion, making the company a “unicorn workflow solution provider.”
The receipt of 36 G2 badges in 2021, including:
- #1 Leader in the G2 Momentum Grid, Fall 2021 and Winter 2022 Leader, Users Love Us, High Performer in Enterprise, Leader in Mid Market, and Winter 2022 Momentum Leader.
Notable Q4 customer acquisition includes prominent names such as Atmosphere TV, Demandbase, Valo Health, BioLegend Inc., Black Rock Coffee, Shenandoah Valley Organic, and more.
The launch of several new initiatives, tools and programs, including:
- FloQast Ops, a new workflow manager solution that addresses upstream and downstream financial functions to deliver greater control and transparency across accounting operations.
- FloQast ReMind, a new request management workflow add-on that automates manual tasks and delivers new levels of visibility across the close process.
- FloQast Studios, a full-scale production arm of FloQast designed to create entertaining, engaging, and educational content by accountants for accountants.
- Partnership with Donnelley Financial Solutions (NYSE: DFIN) to transform the financial close and reporting processes, especially for companies planning to go public.
Notable growth in EMEA including:
- The opening of FloQast’s London-based office.
- 68 new customers – notable Q4 logos include Revolut, Babylon Health, Watches of Switzerland, and Ironsource.
The appointment of several new executives to drive FloQast’s success in 2022 and beyond, including:
- Chief Financial Officer, Razzak Jallow
- Vice President of Customer Success, Justin Smith
- Chief Marketing Officer, C. Edward Brice
The hosting of TakeControl 2021 in September, FloQast’s third-annual user conference, drawing more than 2,000 industry professionals and recognizing world-class accounting professionals and FloQast customers excelling in their pursuit of operational excellence.
The receipt of several high caliber awards and accolades, such as inclusion in Built In’s Best Place to Work list for the fourth year in a row, being named one of the Best Workplaces in the Country by Inc. Magazine, and one of the Best Places to Work by the Los Angeles Business Journal.
Reaching 1,000 users in the FloVerse, an online community platform for FloQast customers to network and collaborate.

This growth and momentum is made possible by FloQast’s community of employees who are committed to making accountants and financial leaders’ lives easier and more productive. Despite the challenges faced over the past two years during the pandemic, the company continues to excel in its performance, a credit to the team’s commitment to customer service and excellence in pursuit of FloQast’s overarching vision.

About FloQast
FloQast delivers workflow automation software enabling organizations to operationalize accounting excellence. Trusted by more than 1,500 accounting teams – including Twilio, coinbase, Los Angeles Lakers, Zoom, and snowflake – FloQast was built by accountants, for accountants to enhance the way accounting teams work. FloQast enables customers to streamline processes such as automated reconciliations, documentation requests, and other workflows that impact the month-end close, financial reporting, and payroll, and is consistently rated #1 across all user review sites. Learn more at FloQast.com.

Contact:
Kyle Cabodi
FloQast Director of Corporate Communications
kyle.cabodi@floqast.com

February 3, 2022

ROSEN, TRUSTED AND TOP RANKED INVESTOR COUNSEL, Encourages Paysafe Limited f/k/a Foley Trasimene Acquisition Corp. II Investors with Losses to Secure Counsel Before Important Deadline in Securities Class Action – PSFE, BFT

NEW YORK, Feb. 02, 2022 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Paysafe Limited f/k/a Foley Trasimene Acquisition Corp. II (NYSE: PSFE, BFT) between December 7, 2020 and November 10, 2021, inclusive (the “Class Period”), of the important February 8, 2022 lead plaintiff deadline.

SO WHAT: If you purchased Paysafe securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Paysafe class action, go to http://www.rosenlegal.com/cases-register-2208.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than February 8, 2022. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Paysafe was being negatively impacted by gambling regulations in key European markets; (2) Paysafe was encountering performance challenges in its Digital Wallet segment; (3) new eCommerce customer agreements were being pushed back; and (4) as a result of the foregoing, defendants’ positive statements about Paysafe’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Paysafe class action, go to http://www.rosenlegal.com/cases-register-2208.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com

February 3, 2022

HEVĒ, Part of [INVNT GROUP], to Launch “ORIGINS” A Division Dedicated to Accelerating Growth for Start-Ups

The Global BrandStory Creators appoint SVP of Growth Strategies, Bill Stump, to lead “ORIGINS by HEVĒ” to launch, accelerate or reboot emerging BrandStories in the innovative health, wellness, and fitness industry

New York, NY, Feb. 02, 2022 (GLOBE NEWSWIRE) — HEVĒ, pronounced “heavy”, is a global and specialized creative agency and production studio built to create BrandStories. Since its launch 3 years ago, HEVĒ has experienced rapid growth across industry sectors taking BrandStories to new heights. Today, they announce the launch of a new agency focus “ORIGINS by HEVĒ” dedicated to innovative start-ups in the health, wellness, and fitness space. Why ORIGINS? Because every great story starts at the beginning.

The 2021 market closed with a record-breaking $44 Billion raised globally in health innovation, doubled funding year-over-year, and a 20x increase in the last ten years (Source: Startup Health Insights). Digital health has been experiencing historic growth as a category, but there is an agency gap. In response, HEVĒ developed a dedicated solution for early-stage companies to enter the market in a meaningful way. An agency that serves as Brand Guardians to develop the identity, craft the story, and buy effective media, and an in-house studio that serves as Brand Creators to produce premium, yet efficient, original content for these companies.

ORIGINS by HEVĒ will be headed up by seasoned health and wellness expert, Bill Stump as Senior Vice President of Growth Strategies. Stump has over 20 years of deep media and agency experience, and an extensive background representing clients through his role as CEO and board member for digital physical therapy brand Egoscue Inc. In three years, Stump led the company through a complete rebranding process that doubled revenue and increased valuation +500% without outside investment. Through this experience, Stump gained invaluable knowledge of the challenges and opportunities early-stage health tech companies face and what they need in order to grow.

“Joining the HEVĒ team to pursue this growth venture with founder-led businesses is exactly what emerging health, wellness and fitness brands need today. HEVĒ is extending their historic storytelling expertise with iconic brands to smaller businesses with big aspirations, which could be a pivotal game changer for these emerging brands”, said Bill Stump.

Previously, Stump held senior positions at Men’s Health, Women’s Health, and Prevention. He developed and launched 26 international editions of Men’s Health in Europe, Asia, and Latin America. Stump also inaugurated and operated Rodale Inc.’s first-ever New Product Development team to incubate, build, test, and bring new brands and products to market – successes included YogaLife and Women’s Health.

On the new focus, CEO of HEVĒ, Chris Hercik, states “As individuals and brands, our origin story is the one thing that is unique and original to us. HEVĒ’s origin story began with the idea that great stories carry great weight, and if you have the right trifecta of talent, you can truly focus on telling BrandStories less told and create meaningful impact for your business. Now, we are extending that same method to the origin stories of new entrants in the digital health market.”

#####

About HEVĒ

HEVĒ, The Global BrandStory Creators, is part of [INVNT GROUP]™. Pronounced “heavy”, HEVĒ is a small but mighty creative agency and production studio built specifically to be the creators and guardians of your BrandStory. As Brand Guardians, HEVĒ Agency shows partners that anything imagined can be real if it led by a story, powered by strategy, and grounded in expertise. As Creators, HEVĒ Studios is on a mission to create the uncreated and ensure its well-made because Great Stories Carry Great Weight. HEVĒ is known for its innovative approach to telling BrandStories for valued partners such as SHRM, L’Oréal, FOX, Sports Illustrated, PatientPoint and many more. For more information visit www.hevestudios.com

About [INVNT GROUP]

[INVNT GROUP] was established in 2020, as an evolution of the founding global live brand storytelling agency INVNT in 2008, with a vision to provide consistent, meaningful, well-articulated BrandStory across all platforms. With offices in New York, Sydney, London, Singapore, San Francisco, Sydney, Stockholm, Detroit, and Washington D.C.; headed by President and CEO, Scott Cullather, [INVNT GROUP], THE GLOBAL BRANDSTORY PROJECT™ represents a growing portfolio of complementary disciplines designed to help forward-thinking organizations everywhere, impact the audiences that matter, anywhere. The GROUP consists of modern brand strategy firm, Folk Hero; creative-led culture consultancy, Meaning; branded content studio and content marketing agency HEVĒ, INVNT Higher Ed; events for colleges and universities, and the original live brand storytelling agency, INVNT. For more information about [INVNT GROUP], visit: www.invntgroup.com.

Attachment

Origins by HEVĒ Studios

Jhonathan Mendez de Leon
[INVNT GROUP]
1.347.819.2089
jmendezdeleon@invnt.com

Shendi Katro
HEVĒ
1.857.237.6565
skatro@hevestudios.com

February 3, 2022

Qasim Akram Smashes Record-Breaking Century in U19 World Cup

Pakistan’s under-19 captain, Qasim Akram has smashed the fastest century in Under-19 World Cup history as he took the Sri Lankan bowlers to the cleaners in the fifth place play-offs in the 2022 Under-19 World Cup.

Qasim brought his hundred on 63 balls in an innings that included 13 boundaries and 6 huge maximums. The previous record for the fastest century was held by India’s Raj Bawa who scored his century off 69 balls.

Qasim promoted himself up the order and remained not out on 135 as Pakistan ended their innings on 365/3 in 50 overs. Qasim was ably supported by opening wicket-keeper batter, Haseebullah Khan who also scored a century, his second in the tournament. Haseebullah scored 136 off 151 balls in an innings which included 9 boundaries and 2 sixes.

Pakistan Under-19 team will be looking to secure fifth place as they head out to defend their target against Sri Lanka. Pakistan lost to Australia in their quarter-final a few days ago.

The exciting all-rounder, Qasim Akram will head back to Karachi after the conclusion of the match and join his teammates in Karachi Kings’ camp in the ongoing Pakistan Super League (PSL). Qasim was initially picked by Islamabad United in their emerging round pick in the PSL draft but Karachi Kings used their right-to-retain card on the Under-19 captain.

Source: Pro Pakistani

February 3, 2022

Samba Bank’s Profit Drops by 22% in 2021

Samba Bank’s profit saw a decrease of 22 percent in 2021 compared with the last year.

The bank’s annual profit decreased to Rs. 788 million in 2021 from over Rs. 1 billion recorded in 2020. The bank’s share price also dropped to Rs. 0.78 from Rs. 1.

The drop in profitability was attributed to a major hit received by the bank from one of the big corporates’ losses.

The bank earned revenue of Rs. 5.7 billion in 2021 as against Rs. 5 billion reported in 2020. The expenses also grew to Rs. 3.4 billion from Rs. 3 billion of the previous year.

Despite the dip in the profitability in the closing financial year, the bank’s assets and deposits witnessed consistent growth over the period of the last few years.

Expected Transition in Shareholding

The Saudi-based bank is witnessing a transition stage as its parent group Saudi National Group decided to divest its 86.5 percent shares in the bank.

Several companies have come up with a strong interest to acquire the banks including Askari Bank, Fatima Fertilizer, and United Bank Limited. These companies have received in-principle permission from the State Bank of Pakistan (SBP) in recent weeks.

In the latest development, United Bank Limited (UBL) submitted a Public Announcement of Intention (PAI) to acquire up to 852,040,531 ordinary shares of Samba Bank Limited (SBL). The bank has appointed AKD Securities Limited as the manager to the offer.

Source: Pro Pakistani

February 3, 2022

Prices at Utility Stores Still Lower Compared to Open Market: Senior GM

The prices of branded commodities have been increased by the manufacturing companies, leading to a hike in rates at the Utility Stores, however, the Utility Stores still sell various commodities at lower prices compared to the open market.

Senior General Manager, Utility Stores Corporation, Inayatullah Daula said this while explaining the reasons for the rise in prices of essential items during a press conference at the Utility Stores Head Office on Thursday.

He said the prices of pulses, spices and branded items at the Utility Stores were lower than the prices in the open market.

The Utility Stores, he said, procured high-quality pulses and spices from registered firms, which had quoted low prices, through an open tender as per the PPRA [Public Procurement Regulatory Authority] rules.

However, he added, the red lentils and white grams were imported, which witnessed a price hike due to the US dollar rate, as the dollar rate affected the prices of imported items.

Daula maintained that Utility Stores kept the price of red lentils stable since October 26, 2020, while the prices in the open market had been steadily rising for the last six months. He asserted that special care was taken, while purchasing pulses and spices, to keep the prices lower than the open market.

He said some companies increased the prices of various branded items being sold in the open market at new prices, adding that the Utility Stores also procured these branded items at new rates. “There has been no change in the prices of branded items at the Utility Stores since October 14, 2021,” said the Senior General Manager.

He assured that the prices of these branded items at the Utility Stores would be lower than the rates in the open market, as the Utility Stores were committed to providing high-quality goods to the public cheaper than in the open market.

Source: Pro Pakistani