Category: loans

May 24, 2019 Off

First American site bug exposed 885 million sensitive title insurance records

By Jill T Frey

News just in from security reporter Brian Krebs: Fortune 500 real estate insurance giant First American exposed approximately 885 million sensitive records because of a bug in its website.

Krebs reported that the company’s website was storing and exposing bank account numbers, statements, mortgage and tax records, Social Security numbers and driving license images in a sequential format — so anyone who knew a valid web address for a document simply had to change the address by one digit to view other documents, he said.

There was no authentication required — such as a password or other checks — to prevent access to other documents.

According to Krebs’ report, the earliest document was labeled “000000075” — with newer documents increasing in numerical order, he said.

The data goes back at least to 2003, said Krebs.

“Many of the exposed files are records of wire transactions with bank account numbers … Read the rest

May 18, 2019 Off

Startups Weekly: There’s an alternative to raising VC and it’s called revenue-based financing

By Jill T Frey

Revenue-based financing is on the rise, at least according to Lighter Capital, a firm that doles out entrepreneur-friendly debt capital.

What exactly is RBF you ask? It’s a relatively new form of funding for tech companies that are posting monthly recurring revenue. Here’s how Lighter Capital, which completed 500 RBF deals in 2018, explains it: “It’s an alternative funding model that mixes some aspects of debt and equity. Most RBF is technically structured as a loan. However, RBF investors’ returns are tied directly to the startup’s performance, which is more like equity.”

Source: Lighter Capital

What’s the appeal? As I said, RBFs are essentially dressed up debt rounds. Founders who opt for RBFs as opposed to venture capital deals hold on to all their equity and they don’t get stuck on the VC hamster wheel, the process in which you are forced to continually accept VC while losing more … Read the rest