Intro

Good morning and welcome to the future 👋

Cannabis as a healthier alternative to nicotine? It surprised us too, but a major tobacco supplier is convinced its future lies in cannabis-based products (see Snippets). An interesting concept.

Today’s update is 283 words, 1.4 minutes

Snippets

🔵 Metaverse Facebook: Facebook is planning to form a team to focus on the ‘metaverse’, a concept involving the development of digital environments that can be inhabited by multiple individuals simultaneously. Dive Deeper →

🚬 Tobacco to cannabis: ​​As it strives to shift away from selling traditional cigarettes, the UK’s largest tobacco company says cannabis is part of its future. Dive Deeper →

📈 Endless growth: Apple has posted incredible quarterly results. For the past 90 days, net income has increased from $11B to $22B. Sixcolors has created nice charts for all important KPIs. Dive Deeper →

Startup of the day

HelloFlow, Denmark

Source: Globalfintechseries

What’s the deal: Danish fintech HelloFlow, launched in 2020, integrates ID authentication services in local markets, offering a plug and play platform for client onboarding that businesses can utilize for processing — absolutely no coding required.

Underlying trends: SaaS, No-code

Why it matters: After a series of international scandals and scams, the focus on anti-money laundering and stricter regulatory requirements is increasing.

In the wake of such changes, finance businesses are looking for new onboarding solutions.

Through its no-code platform, HelloFlow claims to offer cost-effective services, high conversion rates, and a reduction in operational onboarding costs of up to 90%.

Our take: Without doubt, HelloFlow’s no-coding solution is a great option for client onboarding, but the industry is swarming with competitors — PXL Vision AG, ID-Pal, and many more.

The industry is huge and its continued exponential growth means there is plenty of scope for new companies to achieve success; to compete with the big boys, however, there needs to be a strong product market fit.