Change Financial Limited Undertaking A Capital Restructure

finance

It is a company based in the US as a FinTech which is disrupting the way businesses, people, and financial institutions transact through its range of innovative transactional services. The company has lately reviewed its business. Its focus is on completing the technology build of its enterprise banking platform. Looking for an innovated payments processing solution this platform will be targeting US banks, credit unions, and corporations. The company is looking out to monetize its non-core businesses like ChimpChange for which to explore the sale the company has engaged a US investment bank and Ivy for which to monetize its investment in reviewing several strategies. [optin-monster-shortcode id=”swikrbu1d9j9aq0o4cko”]

The company is now undertaking a capital restructure following the strategic review. To support the build-out of its core enterprise banking offering, it has secured a cornerstone investment from Altor Capital, and an entitlement offer to existing shareholders will support the investment. Harley Dalton and Ben Harrison who are the key principles of Altor Capital are joining the board.

The company has cashless society driving growth with a projected US$50 billion industry in 2019. It has a high barrier to entry with less than 30 Mastercard certified issuers in the USA and operating margins average about 25%. It has a large captive customer base with more than 7,000 FDIC banks in the US. The way people move money and interact with their finances on a day to day basis Change Financial was founded to change that. The Company launched with a consumer bank account offering in the USA in early 2015 working with a Mastercard processing partner and banking partner.

The Company made the strategic decision to build this capability in-house with assistance from its banking partner born out of frustration with the existing processing partner which allowed for a more cost-effective, flexible and technology-centric platform. The Company is focused on finalizing the completion and commercialization of the platform, while there have been significant time delays with the build.

Change Financial Limited (ASX: CCA) under the information technology sector traded at a market price of $0.069 which is at its 52-week low and had a fall of 9.211%. The stock has undergone a performance change of -89.59% over the past 12 months.


Disclaimer

This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.

Join Our Discussion

Start discussion with value Investors for ASX Stock Market Investment and Opinion.


6 Cannabis Stocks under Investor’s Limelight…

Cannabis companies that sell both medicinal weed and recreational pot. Marijuana stocks to look at. Marijuana mergers and acquisitions. Dispensary data analytics. Upcoming marijuana IPO’s Those phrases have become increasingly common as marijuana legalization spreads.

Global spending on legal cannabis is expected to grow 230% to $32 billion in 2020 as compared to $9.5 in 2017, according to Arcview Market Research and BDS Analytics. As of June 29, 2018 the United States Marijuana Index, despite a lot of uncertainty around regulations, has over the past 1 year gained 71.49%, as compared to about 12% gain seen by the S&P 500.

Click here for your FREE Report