Aequitas Capital has made an investment in Independence Bancshares, a bank holding company that is building innovative technology to advance the digital payment ecosystem.
"Our private equity group is focused on investing in financial technology oriented companies and we are enthused to make an investment in nD bancgroup," says William Ruh (pictured), Managing Principal of Private Equity, Aequitas Capital. "nD bancgroup is a digital-banking and payments innovator with a strong management team that is positioned to disrupt the payments space."
The investment is part of the USD8,425,000 funding recently raised by nD bancgroup. The capital will be used to expand nD bancgroup's money transfer platform that leverages the nD bancgroup bank holding company charter to provide unique benefits to merchants and consumers, as well as expand its operations in Greenville, SC and New York City.
The nD bancgroup platform is working to meet the increasing need for immediate transactions by untraditional business and consumption models. Other payment platforms often charge 2.0% or more of the total purchase price as a fee and can take several business days for the funds to settle. The nD bancgroup technology will provide a fast and affordable alternative.
"With Aequitas Capital's support, nD bancgroup can continue to grow from a bank holding company into a technology-driven organisation with a unique digital payments platform," says Gordon Baird, Chief Executive Officer, nD bancgroup. "nD bancgroup is leading an effort to transform banking and payment systems that will deliver better services to more people at lower costs."
