Ingo Money files for first close after raising $7.03 million


XDATA – June 15th 2017
Ingo Money‘s first close reached $7.03 million. The company’s $12 million non-brokered equity issue was 59% sold to fourteen investors. The first commitments were received a little over a week ago. $4.97 million in additional funding can be raised before June 2018 based on the placement’s structure. The company closed three previous unregistered private placements which raised an estimated $19.26 million.
Ingo Money markets and develops two business lines. Ingo Network Solutions, operated in conjunction with First Century Bank, is a consumer-direct network accessible via mobile and retail channels. Ingo Enterprise Solutions is an omni-channel commercial platform that enables independently licensed financial services firms to deliver immediate, non-provisional funding and payment services to their customers. Investors include Camden Partners, MissionOG, Spring Capital and CNF Investments. Matrix Partners and Ribbit Capital are also investors following the acquisition of Fuze Network.
The company is headquartered in Roswell GA. Ingo Money elected to keep its revenues undisclosed.
The executive team includes Drew Edwards and Rusty Pickering.
The board of directors includes Bailey Robinson, Dickson Chu, Gene Lockhart, Jennifer Hsin, John Collins and Vince Talbert.

The company has raised an estimated total of $26.29 million via private unregistered security offerings.
In addition, the company reported in the past issuing an estimated $7.05 million worth of securities as part of M&A transactions.

Offering recap
Status: First close
Company: Ingo Money
Industry: Other Technology
Amount offered: $12 million
Amount placed: $7.03 million
SEC filing: Source
First sale: 06-05-2017
Data as of: 06-15-2017
Similar transactions
2017-04 Digiliti Money Group (OTCQB:CAFN) reported closing its private placement after a decrease in size and commitments
Change: offered -5% / raised -5% / placed 100%
2017-04 Ezuza sells $700,000 worth of securities
2017-03 Allied Payment Network filed a first close at $13,000
2017-02 Tickmark reports successful placement of its mezzanine securities
2017-01 PayNearMe files for first close after raising 68%
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