The world of financial technology can be fast-pased and blisteirng. It takes amazing sill to run a startup in this day and age. As the CEO of Glade Inc, I would like to shed light on my journey and share insights into our operations, addressing recent questions and concerns that have surfaced, all while emphasizing our goal of building a global financial powerhouse.
Navigating Internal Challenges:
Every organization faces challenges, and Glade Inc is no exception. In February 2022, we experienced an internal breach, a concerning incident that affected us deeply. This breach occurred due to a targeted attack on our security systems by unauthorized individuals. However, we tackled this issue head-on, bolstering our security measures and ensuring our clients' data safety and our business's integrity. Read the company statement here.
Recovery and Collaborative Efforts:
Our commitment to resolving the internal breach is evident in our collaboration with law enforcement agencies. We reported the incident promptly, leading to arrests and the recovery of a significant portion of the stolen funds. The Economic and Financial Crimes Commission (EFCC) is actively pursuing the case, diligently working to recover the remaining funds. Importantly, customer funds were never compromised throughout this process.
Dedication to Customer Fund Safety:
The safety of customer funds is a foundational pillar of Glade Inc. To fortify this commitment, we have implemented an array of protective measures, including robust encryption techniques, regular security audits, and a dedicated security team. Moreover, our partnerships with regulated financial institutions ensure that customer funds are held in segregated accounts, guaranteeing their security.
Reinforcing Security Systems:
Enhancing security systems became an immediate imperative. We fortified our security infrastructure by adopting advanced encryption techniques, conducting regular security audits to detect and rectify potential vulnerabilities, and maintaining a vigilant team to monitor and address threats in real time.
Accountability and Ethical Conduct:
Employees involved in the breach faced immediate consequences, with terminations and legal actions initiated to recover stolen funds. Accompanying police arrests and EFCC charges further underline our commitment to ethical and lawful conduct.
Investor Communication and Trust:
Contrary to the report by TechCabal, our investors were promptly informed of the breach, and transparency remained a guiding principle. We value the trust our investors place in us and strive to maintain that trust. Neither did we raise the $400,000 during the Techstars Toronto Demo Day as falsely claimed by Techcabal. We had commitments during the demo day, but as you are aware, not all commitments lead to checks, as we did not receive these checks for those commitments during the Demo day.
Leadership and Global Vision:
Temitope Senami-Hundeyin, also known as Tope Tunde-Alli, was not a founding team member of Gladefinance but was employed in March, 2022 as the COO and she had all the privileges of that role even more. Terminating her contract in March 2023 resulted from performance issues and a breach of her employment contract, unrelated to the breach incident in February 2022. We focus on building a global financial enterprise while fostering professionalism, transparency, and accountability in all our endeavors.
In conclusion, the journey of Glade Inc reflects the resilience and unwavering commitment of a global company. As we continue to grow, our dedication to building the solutions our customers love, fostering a thriving team culture, and improving corporate governance practices remains at the forefront. We are committed to enhancing customer protection, trust, and transparency as we navigate the complex landscape of global finance.