AppTech CorpAppTech Corp, a California-headquartered financial technology (FinTech) firm has announced the launch of a private placement of securities of up to $ 10 million to qualified institutional buyers. The company has engaged Maxim Group LLC as its exclusive placement agent.

The company plans to direct the funds that will be raised from the offering towards business development, technology investments, strategic initiatives, and working capital, it said via a statement.

AppTech Corp is a provider of electronic payment processing technologies and merchant services. It has expanded its core merchant processing services to include enterprise-grade, patent-protected software and intellectual property for secure SMS payments and advanced text messaging.

The company’s software and technology manage text messaging for notification, response, authentication, marketing, advertising, information queries, and reports. The processes incorporate more advanced intellectual property to transact mobile payments via secure text messaging based on multi-factor authentication technology.

AppTech also offers digital marketing, software development, mobile app development, website development, website hosting and comprehensive payment processing for brick-and-mortar operations, eCommerce and automated clearing house (ACH).

by Sheeba Bhagat Dawar
Market Analyst at IBS Intelligence