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Despegar.com Announces Closing of Investments by L Catterton and Waha Capital

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Despegar.com (the Company), the leading online travel agency in Latin America today announced that it has closed on the previously announced private placements with LCLA Daylight LP, an affiliate of L Catterton Latin America III, L.P. (the L Catterton Purchaser), and Waha Capital. Despegar intends to use the proceeds from these investments for general corporate purposes, including potential acquisitions.

Furthermore, Messrs. Dirk Donath and Aseem Gupta were appointed by L Catterton Purchaser and Waha Capital, respectively, to the Companys board of directors, pursuant to the agreements reached with each fund.

Dirk Donath has been appointed to serve on the Strategy Committee and Nomination and Compensation Committee of the Board. Mr. Donath is a Managing Partner at L Catterton focused on Latin America. He was a Senior Managing Director and Partner at Eton Park Capital Management, responsible for private equity and illiquid investment activities in emerging markets. Previously, he was a Founding Partner & Managing Director of Pegasus Capital. Before Pegasus, Mr. Donath was a Partner of McKinsey & Company where he was head of McKinsey’s Latin American Consumer Goods and Retail Practice and also leader of the Latin American Corporate Finance and Strategy Practice. Dirk left McKinsey to found FarmaCity, the leading retail pharmacy chain in Argentina, where he was Chairman and served on the Board of Directors. He was a Trustee on the Board of Governors of the American Ballet Theatre and he is a member of the Board of Directors of the Council of the Americas and is on the Board of Governors of Hillel International. Mr. Donath is also on the Board of the Latin American Advisor of the Inter-American Dialogue and was on the Advisory Board of the Emerging Markets Private Equity Association, in addition to the Boards of various L Catterton portfolio companies. Mr. Donath graduated cum laude with honors from Yale University with a Bachelor of Arts in Economics and studied international relations at Oxford University. He also earned an MBA from Harvard Business School. Dirk is fluent in Spanish and Portuguese.

Aseem Gupta is a Managing Director at Waha Capital, focused on the Private Investments business. Waha Capital is an Abu Dhabi-based, ADX-listed investment holding company and operates through two divisions, Asset Management and Private Investments, managing proprietary and third-party capital invested across a number of sectors and geographies. Mr. Gupta is responsible for managing strategic proprietary investments, deploying capital in new investments, and delivering successful exits. Prior to joining Waha Capital, Mr. Gupta worked in the Technology, Media and Telecom Investment Banking Team at Deutsche Bank in New York. Mr. Gupta holds an MBA degree from Rice University, and a Bachelor of Science in Computer Engineering from Purdue University.

Additionally, given the strengthened capital structure, the Company has terminated its previously disclosed $40 million committed revolving credit facility with Citibank pursuant to the terms thereof. To date, no amounts had been drawn under the facility.

For additional details regarding the L Catterton Purchaser and Waha Capital financings, see the Form 6-K filed by the Company with the U.S. Securities and Exchange Commission on September 21, 2020.

Citigroup and Morgan Stanley served as financial advisors to Despegar and Simpson Thacher & Bartlett LLP and Conyers Dill & Pearman served as legal counsel to Despegar.

About Despegar.com

Despegar is the leading online travel company in Latin America. With over two decades of business experience and operating in 20 countries in the region, Despegar accompanies Latin American travelers from the moment they dream of taking a trip until they share their memories of that trip. Thanks to the strong commitment to technological development and customer service, Despegar offers a customized experience to more than 18 million customers.

Despegars websites and leading mobile apps, offer products from over 270 airlines, more than 690,000 accommodation options, as well as more than 1,260 car rental agencies and approximately 200 destination services suppliers with more than 7,500 activities throughout Latin America. The Company owns and operates two well-recognized brands, Despegar, its global brand, and Decolar, its Brazilian brand. Despegar is traded on the New York Stock Exchange (NYSE: DESP). For more information, please visit www.despegar.com.

Forward-Looking Statements

This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. We base these forward-looking statements on our current beliefs, expectations and projections about future events and financial trends affecting our business and our market. Many important factors could cause our actual results to differ substantially from those anticipated in our forward-looking statements. Forward-looking statements are not guarantees of future performance. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update publicly or to revise any forward-looking statements. New risks and uncertainties emerge from time to time, and it is not possible for us to predict all risks and uncertainties that could have an impact on the forward-looking statements contained in this press release. The words believe, may, should, aim, estimate, continue, anticipate, intend, will, expect and similar words are intended to identify forward-looking statements. Forward-looking statements include information concerning our possible or assumed future results of operations, business strategies, capital expenditures, financing plans, competitive position, industry environment, potential growth opportunities, the effects of future regulation and the effects of competition. In particular, the COVID-19 pandemic, and governments extraordinary measures to limit the spread of the virus, are disrupting the global economy and the travel industry, and consequently adversely affecting our business, results of operation and cash flows and, as conditions are recent, uncertain and changing rapidly, it is difficult to predict the full extent of the impact that the pandemic will have. Considering these limitations, you should not make any investment decision in reliance on forward-looking statements contained in this press release.

IR

Natalia Nirenberg – Investor Relations

Phone: (+54911) 26684490

E-mail: [email protected]

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Dovly, the Credit Repair Engine, Welcomes Todd Davis, Co-Founder and Former CEO of LifeLock, to Advisory Board

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PHOENIX, Dec. 3, 2020 /PRNewswire/ — Dovly, the credit repair engine that tracks, manages, and fixes your credit, today announced the appointment of Todd Davis, co-founder and former chief executive officer (CEO) of identity protection leader LifeLock, to its board of advisors.

“Todd is one of the most innovative marketers and business leaders in the personal finance industry,” said Nirit Rubenstein, CEO and co-founder of Dovly. “His unique understanding of consumer mindsets and financial technology enabled him to create and scale a transformational business. His insights will help us take Dovly to the next level.”

“Millions of Americans have at least one serious mistake on their credit reports,” Todd Davis, co-founder and former CEO of LifeLock, explained, “yet far too many of those people aren't even aware of it, nor do they understand the impact these mistakes have on credit scores. Dovly is a game changer.”

After launching his career with Dell in the early 1990s, Davis co-founded LifeLock in 2005. Five years later, the company ranked eighth on Inc. Magazine's list of the 500 fastest growing companies in America, and in 2012, the company went public. By 2014, LifeLock had over three million subscribers and 700 employees. Symantec acquired the company in February 2017 for $2.3 billion. Davis now serves as chairman of the board of Kadenwood and Aesthetics Biomedical.

Dovly also welcomed Jacky Chiu, the former vice president of product of LifeLock, to its advisory board. Chiu is the co-founder and chief technology officer of Brightside, a financial technology company that recently secured a $35 million series A funding round led by Andreessen Horowitz.

About Dovly

Dovly is an advanced credit repair engine that tracks, manages, and fixes your credit. Dovly's fully automated technology enables customers to get ahead financially by leveraging credit intelligence to repair credit scores. The company is headquartered in Phoenix, Arizona, and has increased its customer base by 160% this year alone. In June of 2020, Dovly raised a $2.25 million round of seed funding led by NFX, with participation from 1984 Ventures.

Learn more at www.dovly.com.

 

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SOURCE Dovly

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Junior Achievement and Janus Henderson Launch New JA Titan®, an Online Simulation that Lets Teens Start and Run a Virtual Business

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COLORADO SPRINGS, Colo., Dec. 3, 2020 /PRNewswire/ — Today, Junior Achievement USA and global asset manager Janus Henderson Investors are announcing the launch of the new JA Titan®, an online simulation that allows teens to start and run a virtual business.

JA Titan has been a popular JA educational offering for many years, but this is a newly reimagined version,” said Jack E. Kosakowski, President and CEO of Junior Achievement USA. “We anticipate the new design-based approach made possible with the support of Janus Henderson will make JA Titan especially compelling to today's 'digital natives' who we had in mind when we redeveloped it.”

Tiphani Krueger, Janus Henderson Foundation President and Co-Head of Human Resources at Janus Henderson Investors, said: “At Janus Henderson we believe in elevating the knowledge of our youth. We have a great partnership with Junior Achievement and we are excited to be rolling out such an interactive and innovate program, JA Titan will help students learn critical decision-making and problem-solving skills in a virtual environment.”

JA Titan is a simulation-based program in which high school students compete as business CEOs in the phone industry, experiencing firsthand how an organization evaluates alternatives, makes decisions, analyzes the outcomes of those decisions, and then strategizes what to do next. With a focus on financial literacy and insights into the workforce, JA Titan brings business economics to life. As students work in teams, or on their own, to make financial decisions about production, marketing, research and development (R&D), and corporate social responsibility (CSR), they begin to see how every choice made in an organization relates to its future success.

JA Titan is offered in a variety of delivery models to accommodate different learning formats being used by educators this school year. For more information about Junior Achievement and learning experiences like the JA Titan, visit www.JA.org.

About Junior Achievement USA® (JA)
Junior Achievement is the world's largest organization dedicated to giving young people the knowledge and skills they need to own their economic success, plan for their future, and make smart academic and economic choices. JA programs are delivered by corporate and community volunteers, and provide relevant, hands-on experiences that give students from kindergarten through high school knowledge and skills in financial literacy, work readiness, and entrepreneurship. Today, JA reaches nearly 4.8 million students per year in 105 markets across the United States, with an additional 5.2 million students served by operations in 100 other countries worldwide. Junior Achievement USA is a member of JA Worldwide. Visit www.ja.org for more information.

About Janus Henderson
Janus Henderson Group (JHG) is a leading global active asset manager dedicated to helping investors achieve long-term financial goals through a broad range of investment solutions, including equities, fixed income, quantitative equities, multi-asset and alternative asset class strategies.

As of June 30, 2020, Janus Henderson had approximately US$337 billion in assets under management, more than 2,000 employees, and offices in 27 cities worldwide. Headquartered in London, the company is listed on the New York Stock Exchange (NYSE) and the Australian Securities Exchange (ASX).

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SOURCE Junior Achievement USA

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California Association of Realtors Partners with Bend to Offer HSAs to Members

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BOSTON, Dec. 3, 2020 /PRNewswire/ — Bend Financial (Bend), an industry-leading health savings account (HSA) provider, today announced that they have been chosen by the California Association of Realtors (C.A.R.) to provide health savings accounts to all C.A.R. members who select HSA-eligible high-deductible health plans (HDHPs). Through this exclusive endorsement, C.A.R. members will have access to Bend's next-generation HSA platform as part of their member benefits package.

 

“We selected Bend because they're innovative and committed to helping our members learn about and maximize their HSAs.”

“What we offer goes beyond a standard health savings account and provides a vehicle for improved financial wellness, and that's exactly what C.A.R. wanted for their members and why this partnership is such a great match,” explained Tom Torre, CEO of Bend. “At Bend, we're all about proactively helping our accountholders maximize their HSAs, while providing our partners with a unique, industry-leading benefit offering that sets them apart. We know how important HSAs can be to those working in the real estate industry, and we're excited to help C.A.R. members take advantage of our user-friendly platform that simplifies HSAs.”

The Bend HSA leverages advanced technologies like artificial intelligence (AI) and machine learning to help accountholders optimize tax benefits and healthcare spending through their HSA and also comes equipped with a unique tool that recognizes patterns and suggests optimizations customized to each accountholder in real time. For busy real estate professionals, Bend's resources will help them maximize their HSA benefits without losing focus on their business or their bottom line.

“We selected Bend because they're innovative and committed to helping our members learn about HSAs and guiding them in maximizing the product's benefits, while also helping them build financial wellness,” said 2021 C.A.R. President Dave Walsh, vice president and manager of the Compass San Jose office. “As independent contractors who typically don't have access to healthcare and financial offerings through an employer plan, our members can now better manage their healthcare expenses through Bend's unique offering.”

Pairing an HSA with an HDHP is widely recognized as being an extremely effective, affordable and tax-advantaged way for individuals and families to save and pay for expenses while taking a more active role in their healthcare. HSA participants enjoy a triple tax advantage, flexibility of use, account portability, rollovers, investment opportunities and more. HSA-eligible plan enrollment is on track to grow more than 25% in the next year, and individual HSAs are on pace to exceed 30 million accounts by 2022.

About Bend Financial

Bend Financial helps accountholders and partners improve their financial wellness through a next-generation health savings account (HSA) platform and complementary financial solutions, while providing employers, brokers and financial institutions of all types and sizes unique, leading-edge benefit offerings. Headquartered in Boston, Bend's forward-thinking, user-friendly approach simplifies healthcare saving and offers real-time, personalized guidance that makes it easy for anyone to maximize their HSA. For more information, visit bendhsa.com, read Bend's blog and follow Bend on Twitter and LinkedIn.

Contact:
Zac Otzelberger
(715) 630-8688
[email protected]

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SOURCE Bend Financial, Inc.

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Editorial & Advertiser disclosureOur website provides you with information, news, press releases, Opinion and advertorials on various financial products and services. This is not to be considered as financial advice and should be considered only for information purposes. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third party websites, affiliate sales networks, and may link to our advertising partners websites. Though we are tied up with various advertising and affiliate networks, this does not affect our analysis or opinion. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you, or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish sponsored articles or links, you may consider all articles or links hosted on our site as a partner endorsed link.
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