Income& Gets $2.9 Million in Funding
- The fixed-income fintech startup will be offering relatively safe, transparent investment products.
Fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term startup Income&, an online investment platform, announced it had collected $2.9 million in seed funding and committed capital.
Among the participants in the Funding Round Funding Round Startups look to raise capital can participate in a funding round. These refers to the various rounds of funding that occur upon proof of concept, customer base growth, and the probability of success. While they are various types of funding rounds, the most commonly seen in startups include the following funding rounds: Seed, Series A Fundraising, Series B Fundraising, and Series C Fundraising. In order for a funding round to take place, a valuation must be performed by analysts for the business Startups look to raise capital can participate in a funding round. These refers to the various rounds of funding that occur upon proof of concept, customer base growth, and the probability of success. While they are various types of funding rounds, the most commonly seen in startups include the following funding rounds: Seed, Series A Fundraising, Series B Fundraising, and Series C Fundraising. In order for a funding round to take place, a valuation must be performed by analysts for the business Read this Term of the San Francisco-based firm were iSeed Ventures as well as a number of high-profile individuals from the financial industry.
On its platform, Income& will market its investment product PRIMO, a low-risk, high-yield instrument backed by prime mortgages, the company said, that clients could customize according to individual preferences. The yield level it will be targeting is up to 7.5 per cent.
Prime mortgages only
Commenting on the news, Chief Executive Officer Brad Walker said: "We founded Income& to solve two problems: the lack of investments for baby boomers to support a comfortable retirement, and the absence of transparency in the mortgage market which in part led to the 'Great Recession'. Income& works with established, name-brand mortgage lenders to onboard high-yield, safe, prime-rated loans to the PRIMO marketplace, which are further reviewed and rated for an added measure of clarity. The technology Income& has developed gives investors unprecedented transparency, control and access to their customized portfolio of PRIMOs.”
Income& seems set on filling a gap that exists in the fixed-income investment segment at the moment, with either yields of products too low or risks unacceptably high. The firm has focused on finding the middle ground, with a more acceptable level of risk and attractive yields.
Initially, the PRIMOs will only be available for accredited investors or their Registered Investment Advisors.
Fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term startup Income&, an online investment platform, announced it had collected $2.9 million in seed funding and committed capital.
Among the participants in the Funding Round Funding Round Startups look to raise capital can participate in a funding round. These refers to the various rounds of funding that occur upon proof of concept, customer base growth, and the probability of success. While they are various types of funding rounds, the most commonly seen in startups include the following funding rounds: Seed, Series A Fundraising, Series B Fundraising, and Series C Fundraising. In order for a funding round to take place, a valuation must be performed by analysts for the business Startups look to raise capital can participate in a funding round. These refers to the various rounds of funding that occur upon proof of concept, customer base growth, and the probability of success. While they are various types of funding rounds, the most commonly seen in startups include the following funding rounds: Seed, Series A Fundraising, Series B Fundraising, and Series C Fundraising. In order for a funding round to take place, a valuation must be performed by analysts for the business Read this Term of the San Francisco-based firm were iSeed Ventures as well as a number of high-profile individuals from the financial industry.
On its platform, Income& will market its investment product PRIMO, a low-risk, high-yield instrument backed by prime mortgages, the company said, that clients could customize according to individual preferences. The yield level it will be targeting is up to 7.5 per cent.
Prime mortgages only
Commenting on the news, Chief Executive Officer Brad Walker said: "We founded Income& to solve two problems: the lack of investments for baby boomers to support a comfortable retirement, and the absence of transparency in the mortgage market which in part led to the 'Great Recession'. Income& works with established, name-brand mortgage lenders to onboard high-yield, safe, prime-rated loans to the PRIMO marketplace, which are further reviewed and rated for an added measure of clarity. The technology Income& has developed gives investors unprecedented transparency, control and access to their customized portfolio of PRIMOs.”
Income& seems set on filling a gap that exists in the fixed-income investment segment at the moment, with either yields of products too low or risks unacceptably high. The firm has focused on finding the middle ground, with a more acceptable level of risk and attractive yields.
Initially, the PRIMOs will only be available for accredited investors or their Registered Investment Advisors.