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Expectations of a Second Wave: SaaS Companies in Covid Times

With mounting concerns of a Covid-19 “second wave,” SaaS companies like SalesForce, Shopify and Workday are poised to benefit as companies extend their work-from-home policies. These SaaS / mission-critical software service firms provide cloud-based solutions for employees to operate efficiently in the safety of their homes. Google has already allowed most employees to work remotely through the rest of the year, with Twitter and Facebook choosing to do so permanently. As the rest of the economy transitions to digital workplaces, business processes will be adapted to SaaS platforms and will be increasingly integrated, streamlined and automated. The long-term subscription revenue of these SaaS companies is expected to keep pushing up their valuations this year.


PPP Fraud Puts Effectiveness of FinTech on Display

In March, the Paycheck Protection Program (PPP) was initiated to provide loans to small businesses, as part of the comprehensive coronavirus stimulus bill (CARES Act). Through this program, $660 billion was authorized to support business owners keep up their payroll and other operating expenses. However, the scale of the program and lack of borrower scrutiny has attracted numerous fraudsters, including a NYC resident who was charged with a $20 million PPP and SBA loan fraud. In this report, we highlight fraud strategies such as “loan stacking” and the use of FinTech to address these problems.