B2B Digital Payments Fintech News

Aspire Fund Management Announces Conversion of Seed Investment into Equity in Fintainium, a Fast-Growing B2B Fintech Company

Aspire Fund Management Announces Conversion of Seed Investment into Equity in Fintainium, a Fast-Growing B2B Fintech Company

Digital banking technology is set to empower community banks and credit unions

Fintainium Inc. announced the conversion from venture debt to equity by Aspire Fund Management, a Trinidad & Tobago-based Private Equity and Financial Advisory company that bridges the gap between Investors and next-generation innovative, transformative businesses. As part of the agreement, Aspire Fund Management and its partnerships will integrate Fintainium’s robust suite of solutions, which will include AP and AR workflow automation, real-time cross-border payments, and on-platform lending.

When asked about the partnership, Fintainium’s Chief Executive Officer, Richard Jackman, remarked, “It’s a tremendous vote of confidence from the team at Aspire. We were thankful for their seed investment in 2018 and are thrilled to continue our partnership and grow Fintainium together.”

Read More: CIT Provides $28.2 Million in Financing for California Apartment Complex Development

Fintainium facilitates the relationship between financial institutions, businesses, and other technology companies by combining world-class domestic and international money movement products with workflow, accounting, and reconciliation automation. As a result, Fintainium enhances back-office operations for institutions and streamlines working capital management for end-users.

“Fintainium provides a great example of “Prospecting for Caribbean Gold.” As a B2B fintech innovator, the brand will offer investors an opportunity to own US income streams while expanding into Caribbean markets. This next-generation brand will provide an integrated payments and financial workflow management solution to meet the needs of small and midsize businesses, credit unions, and banks. We envisage that investors will be rewarded above market indices for their patient capital investment.” (Liesel Alexander, Director, Aspire)

Read More: Delivery Drivers, Inc. Offers New Same-Day Payment Platform

As the market continues to demand more digital payments and technology-driven solutions to bring financial institutions closer to business banking clients, Fintainium leads the way by embracing an approach that partners rather than compete with traditional banks and credit unions. “We see a tremendous opportunity in the SME market to provide enterprise-level technology that does not only automate tedious manual processes, but also aggregates data into one central hub and creates opportunities to underwrite and fund loans with little-to-no back-office burden. Working capital is the lifeblood of any organization; Fintainium’s mission is to enhance this for SMEs through banking partnerships.” (Richard Jackman, CEO)

As part of the collaboration between Fintainium and Aspire Fund Management, the organizations plan to launch a joint venture within the CARICOM to empower Caribbean financial institutions with technology to facilitate trade finance and other SME-focused lending opportunities. When asked about this forthcoming venture, Kerwyn Valley, Aspire’s Managing Director, remarked, “We are excited to bring Fintainium’s technology to the CARICOM. We see tremendous potential with the technology, especially within our region, to increase the ease of doing business and to assist companies in managing their working capital at lower costs.” No further details were available currently on this collaboration other than both organizations are working in earnest and plan to release more details in Q4 2021.

Read More: Epazz’s ZenaPay Bitcoin Wallet Makes Bitcoin Credit & Debit Card Payments Easier For Merchants Worldwide

Related posts

Komainu Appoints Suzanne Hubble as Chief Operating Officer & Chief Financial Officer

Fintech News Desk

Revation Systems Announces the Availability of Secure Video Banking Solution to Meet Banking Need during the Pandemic

Fintech News Desk

Wirex Becomes Principal Member of Visa Network in Europe

Fintech News Desk