CEO Marc Beer Describes What His Company Plans To Do After Its Series B Funding Round

Marc Beer has been working in the pharmaceutical industry ever since graduating from college at Miami University in 1987. His core skills include managing people and developing devices and diagnostics to treat illnesses and disorders. He co-founded Renovia Inc. in August 2016 and is this firm’s chief executive officer and chairman of the board of directors. Other positions he currently holds are chairman of the board of directors at Good Start Genetics and at Minerva Neurosciences.

Renovia, a pharmaceutical startup, just held its Series B round. Marc Beer says that they raised $32 million from this and in a separate transaction raised another $10 million that is secured by debt in his company. Three main venture capital firms took part in this round which included one of their earliest investors, Longwood Fund. The other two major investment firms included Missouri’s Ascension Fund and New York’s Perceptive Advisors.

The money that was raised will be used in a few different ways. Leva is a product from Renovia which is a medical device which teaches women how to do pelvic training. It is for women who have a pelvic floor disorder, an affliction that is estimated to affect 250 women worldwide. They use this device and its accompanying mobile app to improve their pelvic strength by doing Kegels exercises. The money raised will be used to improve this device and also develop four other devices they are interested in introducing to the market.

Marc Beer says that pelvic floor disorders result in a number of negative consequences for women. These disorders involve the bladder, uterus, and bowel either individually or collectively “falling” down on top of the vagina. What this disorder can cause includes incontinence when it comes to the bladder and bowels, pelvic pain, pelvic organ prolapse, and dyssynergia among other conditions.

Outside of Restoria, Minerva, and Good Start Genetics, Marc Beer is involved in the business community in a number of ways. He serves on his alma mater’s Business Advisory Council, for instance. He has also served on Notre Dame’s Research and Commercialization Advisory Committee and its Graduate Studies Research and Advisory Council among other positions. Learn more: https://www.crunchbase.com/person/marc-beer

 

Western Union and PSI-Pay Ltd take on the e-Money market

It is now possible for eco account online wallet holders to add to their funds thanks to a partnership between PSI-Pay Limited and Western Union. Through this partnership, eco account online wallet holders can use the global digital or retail network provided by Western Union to top up their accounts or send money domestically and internationally from the United Kingdom. Western Union and PSI-Pay Limited have worked tirelessly to ensure a successful integration of their money movement functionalities to bring this partnership to fruition.

 

Through the Western Union website, and also their mobile application, ecoPayz customers can now remit their accounts. In addition, they can send funds to over 150 countries across the globe through the Western Union retail agent network. As if that wasn’t a genius enough move, the two partners went further to ensure that their customers in the UK can send money from their eco accounts to quite a number of bank accounts. This partnership also guarantees UK nationals a smooth and seamless cash payout process in the over 150 countries.

 

The integration of Western Union services in ecoPayz online wallet adds to the many online payment platforms offered by Western Union. Western Union, which is listed in the New York stock exchange, is a renowned company globally; known for their cross-border money movement services. The company boasts of its ingenious ways of connecting both the physical and digital spheres hence allowing individuals and businesses to send and receive money conveniently and in record times. As of March this year, the company had increased their retail agent locations to over half a million in more than 200 countries globally. Through Western Union, individuals and businesses can not only send money to other individuals and businesses but also make direct money deposits into billions of bank accounts. It is worth noting that Western Union moved over $300 billion in more than 100 countries in the year 2017. This translated to over 30 transactions every second across all their platforms.

 

On the other hand, PSI-Pay is a UK based e-Money service platform. The company offers an array of e-money products and services and is regulated by the United Kingdom Financial Conduct Authority. The company also issues Visa and Mastercards globally. Through the EEA, PSI-Pay is also licensed and authorized to supply debit, prepaid and virtual payment cards.

 

Speaking about the new partnership, PSI-Pay Limited Operations Director, Jonathan Amrani, said, “We are excited to be collaborating with Western Union and introducing additional services to customers that will enable them to have more flexibility within their eco account. By accessing Western Union’s network, customers have access to hundreds of thousands of locations around the world, and this provides us with an excellent platform to grow and reach new customers.”

 

 

 

https://medium.com/@psipay/what-does-the-gdpr-mean-for-fintech-b6edee20eb52