back Back

Usio announces closing of $1m Investment by cryptocurrency partner, Voyager Digital

By Edlyn Cardoza

November 25, 2021

  • Blockchain
  • FinTech
  • USA
Share

Usio, FinTech, Blockchain, Voyager Digital, USAUsio, Inc., a FinTech integrated electronic payment solutions provider, recently announced the closing of a private placement of 142,857 shares of common stock, at a purchase price of $7.00, for net proceeds of $1 million. The shares were priced using a five-day weighted average at the market price, with November 19th as the closing date. Usio intends to use the proceeds from the placement for working capital.

Commenting on the closing, Louis Hoch, Usio’s CEO, said, “We are thrilled to have our strategic cryptocurrency partner, Voyager Digital, as a strategic investor in our company. While Usio is generating positive cash flow and we believe we are in a strong cash position, we are excited to have Voyager invest in our company since they are helping our company grow through their long-term exclusive agreements for our ACH and debit issuance card services, and by partnering with us to allow our merchants to accept cryptocurrencies as form of payment.”

Stephen Ehrlich, CEO of Voyager, noted, “Our relationship with Usio has been a true partnership over the past three years. That will continue, as we have just extended our exclusive ACH and debit card issuance agreements for another three years. Usio has helped our company grow by allowing us to focus on our core competencies, while leaving the complexity of payment processing to Usio. For Voyager, the investment in Usio is strategic and demonstrates our commitment to the ongoing partnership and to our commitments to Usio’s growth plans. I am impressed by the quality of Usio’s business and the clarity of management’s vision for growth. We are delighted to provide capital to support that vision and join the company as a long-term, supportive shareholder.”

Recently, IBS Intelligence reported that Usio, Inc., a leading FinTech integrated payment solutions provider, recently announced that it has been selected by Voyager Digital, in a three-year exclusive agreement, to be the program manager and processor for their newly introduced debit card, the first USD Coin-based debit card that pays up to 9% annual rewards.

Previous Article

November 25, 2021

BOB Financial partners with OneCard to launch mobile-first credit card

Read More
Next Article

November 25, 2021

Neonomics and Axactor harness open banking to power next-generation debt management services

Read More

IBSi Prime News

The Weekly Wrap

November 26, 2021

Blockchain

The Weekly Wrap: all you need to know by Friday COB | Nov 26th

Read More
  • Daily insightful news analysis
  • Weekly snapshot of the industry deals, events & insights
  • Sectoral deep dives on the hottest FinTech trends
  • Exclusive interviews featuring c-level executives shaping the industry
  • Profiles of the most influential established and emerging companies in the sector
  • Weekly global FinTech use cases
  • Chart of the Week curated by the IBSi’s Research Team
Subscribe to Prime

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

November 26, 2021

Black Friday 2021: 3 Risks of Buy Now, Pay Later Apps this holiday season

Read More

November 26, 2021

TabTrader announces the closing of a $5.8m Series A funding round

Read More

November 26, 2021

Thunes partners with Ethiopia’s Ethio Telecom to power cross-border transfers

Read More

Related Reports

Sales League Table Report 2021

£1,500 / year

Know More
US Financial Services Technology Report 2021

£1,500 / year

Know More
The Future of Digital Banking Report 2021

£1,500 / year

Know More
Wealth Management & Private Banking Systems Report 2021

£1,500 / year

Know More
Treasury and Capital Markets Systems Report 2021

£1,500 / year

Know More