LAKE OSWEGO, Ore., July 23, 2015 /PRNewswire/ -- Aequitas Capital, a diversified financial services company, is pleased to announce an investment in Independence Bancshares, Inc. (OTCQB: IEBS, d/b/a nD bancgroup), 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," said William Ruh, 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 $8,425,000 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 organization with a unique digital payments platform," said 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."
The global payments industry is growing at an accelerating rate and is positioned to grow even faster due to disruptive forces. Research conducted by Aequitas indicates revenue in global payments is expected to grow 8% per year through 2018 reaching $2.3 trillion annually, compared to 3% revenue growth between 2008 and 2012. This accelerating growth in payments will be driven in part by the emergence and adoption of digital technology which can facilitate real-time payments at a lower cost. Mobile payments in the United States are expected to grow from $52 billion in 2014 to $142 billion by 2019, representing annual growth of 22.2%. nD bancgroup, through their real-time and low cost payment solution, is positioned to play a role in disrupting the payments landscape and can help drive the growth of the overall payments industry.
About Aequitas Capital
Founded in 1993, Aequitas Capital is a diversified financial services company that creates alternative investments including private equity, private credit and specialty finance. The firm leverages its network and team of industry specialists to uncover opportunities in the traditionally underserved sectors of healthcare, education and financial services. Aequitas helps its portfolio companies and strategic partners reach their goals by providing management expertise, technology infrastructure and a network of support services.
For more information, please visit www.aequitascapital.com.
About nD bancgroup
Independence Bancshares, Inc., d/b/a nD bancgroup, is a bank holding company located in Greenville, South Carolina and New York. Since opening for business in 2005, it has been providing banking and related services to its consumer and commercial customers. For more information, please visit www.ndbancgroup.com.
Aequitas Media Contact:
Dana Taormina – [email protected] (973) 850-7305
nD bancgroup Media Contact:
Kevin Maloney – [email protected] (212) 784-5716
SOURCE Aequitas Capital