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MoneyGram secures $9 million funding from Brink’s

The Brink’s Company announced that it has invested $9 million in American money transfer company,  MoneyGram International, Inc. The investment lays the foundation for the companies to develop a long-term strategic partnership to pursue mutually beneficial near and long-term commercial opportunities.

Brink intends to continue its strategy of aggressively pursuing accretive acquisitions in its core business while also implementing its internal organic growth initiatives. The company stated that it has no intention to acquire a controlling interest in MoneyGram.

Preceding the investment announcement, Brink’s announced that it had invested in MoneyGram during the fourth quarter of 2019 through open market purchases of stock equaling approximately 4.95% of MoneyGram’s outstanding shares.

The Brink’s Company offers solutions in total cash management, route-based secure logistics and payment solutions including cash-in-transit, ATM services, cash management services (including money processing, vault outsourcing, and intelligent safe services), and international transportation of valuables. Its network of operation extends into 41 countries serves customers in more than 100 countries.

Moneygram is an American money transfer and payment services provider, established in 1940. The company’s services are available in 200 countries and territories. It also provides bill payment services, issue money orders and process official checks in select markets. Last year the company partnered with Ripple, under which the payment protocol provider owns under 10 per cent of MoneyGram’s common stock. Moneygram is also using RippleNet’s ODL technology to power transactions between the U.S. and Mexico.

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