Fintech PR
Fineqia Announces Investment in Blockchain-Focused Wave Financial Group
Fineqia International Inc. (the “Company” or “Fineqia”) (CSE: FNQ) (OTC: FNQQF) (Frankfurt: FNQA) is pleased to announce its subsidiary, Fineqia Investments Limited, (“Fineqia Investments”) has taken an equity stake in Wave Financial Group, LLC (“Wave”).
Based in Los Angeles, Wave undertakes early-stage investment, asset management, treasury management and strategy consulting to enhance the adoption of blockchain technologies worldwide. The investment gives Fineqia a stake in a team with significant knowledge, expertise and a worldwide network.
Wave draws on the experience and discipline of early-stage investing of its CEO and founder David Siemer, who previously co-founded Wavemaker Partners (“Wavemaker”) that has nearly 15 years of investment and operating history. Wavemaker includes seven funds with Assets Under Management of $300 million and investments in more than 300 companies in the U.S. and Southeast Asia. David also founded Siemer & Associates LLC., a technology focused investment bank, which he sold to CEC Capital in 2016.
“We look forward to working with Fineqia to gain access to non-correlated, high-quality debt opportunities and continue growing our partnership as they continue to push the envelope around issuing Digital Asset backed bonds,” shared David Siemer, CEO.
The transaction follows Fineqia Investments’ earlier financings in blockchain insurance company, Black Insurance; blockchain-based asset registration and clearing solution, Nivaura Ltd; and premium finance Software-as-a-Service (SaaS) provider, PremFina Limited. Additionally, Fineqia has equity holding in Phunware Inc., a fully integrated enterprise cloud platform for mobile that provides products and services for brands worldwide.
“Wave’s network and knowledge of both start-ups and corporates pursuing blockchain and crypto strategies is a huge asset for Fineqia,” said Bundeep Singh Rangar, CEO of Fineqia. “It fits in with our core business of placing debt and equity securities including those backed by crypto assets, soon to be tested within the UK regulator’s sandbox program.”
Fineqia’s investment in Wave is in line with its strategy to invest in blockchain related companies that support its business model. Fineqia’s investment sum represents less than 5% of its market capitalisation.
SOURCE Fineqia International Inc.
