Latest news with #Quicken
Yahoo
23-05-2025
- Business
- Yahoo
Phyn Acquired by Investment Group Led by Property Brothers' Jonathan Scott to Accelerate Growth in Smart Water Solutions
LOS ANGELES, May 23, 2025 /PRNewswire/ -- Phyn, the industry leader in intelligent water solutions, has been acquired by a powerhouse group of investors led by entrepreneur and television personality Jonathan Scott. This strategic acquisition transitions Phyn from Belkin's ownership to a newly independent company backed by a high-profile group of investors with deep experience in technology, real estate and entertainment united in their vision to make Phyn's category-defining solutions a standard in every home and building. The move marks a pivotal new chapter for Phyn, positioning the company for rapid expansion, heightened consumer awareness and deeper adoption across key market verticals including insurance, property management, building, utilities and home services. The investor group includes: Jonathan Scott, co-founder and CEO of leading lifestyle brand Scott Brothers Global, producer/host of The Property Brothers on HGTV, co-founder of an award-winning entertainment production company Scott Brothers Entertainment, and designer of over 12,000 products in the home space through his Scott Living and Drew & Jonathan Home brands brings brand-building expertise and a personal passion for smart home innovation. Tom Proulx, a pioneer in the consumer software industry, co-founder of Intuit and author of the largest-selling personal finance product in the world, Quicken, will serve as an advisor and board member, lending his decades of experience in software development and building consumer-focused technology brands. David Marquardt, one of Silicon Valley's most accomplished venture capitalists and founding partner of Technology Venture Investors (the sole venture backer of Microsoft) and August Capital, brings to Phyn a strong personal conviction in its potential and positions the company to benefit from his deep strategic insight and decades of experience scaling market-leading businesses. Allen Sands, founder of ICON Builders, a national leader in occupied affordable and multi-family housing, brings a direct path to scale through ICON's strong footprint and trusted relationships with developers and trade professionals. After experiencing the high cost of water damage firsthand, ICON actively sought a proven, scalable solution and ultimately chose Phyn following extensive research and testing. ICON's sales and operational infrastructure will help expand Phyn's reach across the builder and multi-family segments and grow Phyn's Preferred Installer Network. "As someone who's renovated more than a thousand homes, I've seen the damage a hidden leak can cause," said Jonathan Scott. "I've used Phyn in my own homes for years, and it's hands-down the best smart water tech on the market. It's reliable, easy to use, and does more than any other system to accurately detect and stop damage before it starts. Everyone I know has been affected in some way by an unfortunate water event, whether it's a flood from a disconnected water line, a pinhole leak inside the walls, or simply the kids leaving the tap on! With Phyn, home floods can be a thing of the past with a simple and affordable solution. One day, we will look back and count technologies like Phyn among everyday no-brainer safety devices like smoke detectors and seatbelts. This is the kind of technology I believe every homeowner deserves, and I'm excited to actively support Phyn in becoming a household name and protecting homes everywhere." "This marks a transformative milestone for Phyn," said Ryan Kim, CEO of Phyn. "We're thrilled to have the backing of such an accomplished and visionary group of investors who have built iconic brands and scaled companies to global prominence. Their belief and commitment to Phyn underscores the strength of our mission, market-leading technology and world-class team behind it. With their strategic support, we're poised to elevate awareness, accelerate our growth and bring peace of mind to more households and commercial buildings worldwide by stopping unnecessary losses from catastrophic water damage." The timing of the investment comes as smart water management is becoming a must-have in homes. Water damage is now a leading cause of property insurance claims, costing billions annually. Insurers, municipalities and homebuilders are responding with policies and programs that require or incentivize leak detection devices, particularly those with automatic shutoff capabilities like Phyn. The company's vast partner network includes leading insurance providers, utilities and municipalities, including Nationwide, Chubb, PURE, Cincinnati Financial, Iplex Australia, and many others. Phyn's unique approach to utilizing ultrasonic technology with no moving parts means it will not wear out or break down over time with mineral deposits, making it a long-lasting solution for homeowners. The Phyn system also incorporates patented high-definition pressure sensing and a single AI-driven shut-off solution that goes on the main water line and covers the entire home, unlike many competitor products which only monitor single fixtures. Phyn-protected households are shown to be 99% less likely to experience a non-weather water leak claim, highlighting the company's role in enhancing home safety and helping reduce insurance costs. Phyn is a category leader in intelligent water solutions, offering a suite of award-winning products ranging from the DIY-installed Phyn Smart Water Assistant and Smart Water Sensor to the professionally installed Phyn Plus with a built-in shutoff valve. At the core of Phyn is its proprietary fusion of ultrasonic flow sensing, HD pressure wave analysis and industry-leading AI that delivers unmatched accuracy and continues to set the benchmark for the industry, virtually eliminating false positive alerts. With its new ownership structure, Phyn gains not only the financial resources but also an elite network of advisors and operators to accelerate Phyn's growth across key consumer and B2B channels. About PhynPhyn is the leading intelligent water brand, bringing solutions to market that help people protect their homes, conserve water and save money. Built upon nearly a decade of research and patented technological innovation, Phyn is poised to change the way consumers interact with water and help solve the major challenges threatening the world's supply of clean, healthy water. Phyn has been widely recognized for its innovation, including honors from the Red Dot Awards, SXSW Innovation Awards, Core 77 Design Awards, IoT World Awards, CES Innovation Awards and GreenBuilder's Sustainability Awards, among others. To learn more, visit PR Contact Zella Panossian Illume PR for Phyn phyn@ View original content to download multimedia: SOURCE Phyn
Yahoo
08-04-2025
- Business
- Yahoo
‘54% have no plan': 8 hot takes for Hawaiʻi from new CC, tariff report
HONOLULU (KHON2) — Living in Hawaiʻi, we understand that credit is king. And most of us grow that rating through our credit card debt. Credit cards are helpful in offering rewards, and some offer no interest for a certain time. But credit cards can be a slippery slope that fills the gap between actual earned income and the cost of living. So, as our economy continues to crash and more and more people find themselves without work, how can we control our need for credit cards? A new survey sought to understand how people are dealing with credit card debt and what worries them about it. Here are some key takeaways from the survey: 25% of people think they will have more credit card debt by the end of 2025. 47% are concerned that tariffs (taxes on imported goods) will make their debt worse. Nearly half of Americans (46%) don't have a plan to pay off their credit card debt. Only 54% indicated they have a plan. This means a lot of people are unsure how to manage their debt. The biggest worry for most people is inflation (the rise in prices). 62% of Americans are most worried about inflation. This may be because the vast majority of residents do not understand what tariffs are and how they function. Only 22% are concerned about tariffs, and 16% worry about their credit card debt. Almost 80% of people don't trust artificial intelligence (AI) to help manage their credit card debt. This shows people prefer human advice or other resources instead of relying on machines. 83% of Americans think the government should set limits on how high credit card interest rates can go. The average credit card interest rate is about 23%, which is very high and hard for many people to pay off. 64% of debt comes from things people need, like food, bills or housing. The rest, 36%, comes from things people want but don't necessarily need, like shopping for fun. Nearly 80% of Americans believe the country's debt is in worse shape than their personal debt. This may be because people do not understand the difference between government debt and corporate debt. The most trusted budgeting app is Rocket Money with 37% of people saying it's the best. Other apps like Quicken and WalletHub are also popular but with fewer users trusting them. The survey shows that many people are worried about rising credit card debt, but many don't have a clear plan to pay it off. Inflation is the biggest concern, and most Americans think the government should step in to help by limiting credit card interest rates. Click to read the full report. Get news on the go with KHON 2GO, KHON's morning podcast, every morning at 8 It's important for everyone to create a plan to manage their spending and debt to avoid getting into trouble. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
