Usio announces closing of $1m Investment by cryptocurrency partner, Voyager Digital
By Edlyn Cardoza
Usio, 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.
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