Prime Trust Acquires Crowdfunding Industry Technology Firm, FundAmerica
LAS VEGAS--(BUSINESS WIRE)--Jul 24, 2018--Prime Trust announced today that it has acquired FundAmerica, the leading technology and back-office software provider to the crowdfunding industry. With this acquisition the combined company, doing business as Prime Trust, achieves symbiotic efficiencies for its broker-dealer, crowdfunding portal, investment adviser, real estate and direct-issuer customers who are using the internet in their capital raises.
FundAmerica is a multi-million dollar, profitable business with proprietary software and systems that are focused on serving anyone using the internet to raise capital. Its technology supports traditional securities offerings that issue stocks and bonds, as well as those engaging in the digitalization of securities and assets and issuing tokens (aka “coins”).
Prime Trust identified FundAmerica’s securities escrow, AML compliance, broker-dealer compliance, shareholder management, funds processing and extensive administration dashboards and API’s as key utilities for it to provide turnkey compliance and custody solutions to the securities industry, including issuers conducting offerings pursuant to SEC rules for Reg A, Reg D, Reg S, and Reg CF.
The deal also includes FundAmerica’s proprietary Invest Now technology, which makes it frictionless for brokers, portals and issuers to accept and process investment transactions with zero friction.
“Our key focus has been to build up Prime Trust’s technology edge as we scale our services to provide securities, token and FIAT custody, funds processing, AML and KYC compliance, and transaction technology for the new digital economy,” said Scott Purcell, CEO of Prime Trust. “We look forward to combining our strengths as we work towards our goal to provide the best-in-class solutions for securities issuers, including ICO and STO, to seamlessly meet the needs of their offerings, their advisers, the exchanges and secondary markets.”
Financial terms of the acquisition were not disclosed.
Current customers who work with FundAmerica will continue to engage exactly as they have, but under the Prime Trust brand.
More information about Prime Trusts products and solutions is available at www.primetrust.com.
About Prime Trust
Prime Trust is chartered, insured financial institution that as a “Qualified Custodian” provides token and FIAT custody, funds processing, AML/KYC compliance, and transaction technology for the new digital economy. As a blockchain-driven trust company our mission is to provide ICO and STO issuers with the best-in-class solutions to seamlessly meet the needs of their offerings and of exchanges and secondary markets.
View source version on businesswire.com:https://www.businesswire.com/news/home/20180724005444/en/
CONTACT: Prime Trust
Scott Purcell, 702-544-2650
KEYWORD: UNITED STATES NORTH AMERICA NEVADA
INDUSTRY KEYWORD: TECHNOLOGY INTERNET SOFTWARE PROFESSIONAL SERVICES BANKING FINANCE
SOURCE: Prime Trust
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PUB: 07/24/2018 09:35 AM/DISC: 07/24/2018 09:36 AM