Uberstate Sources Lead Offer for $32 million Series A Round During Raises.com Membership
TORONTO, ON / ACCESSWIRE / November 25, 2021 / Raises.com Inc. (“Raises.com”) is pleased to announce Uberstate Inc. (Uberstate), a Toronto-based fintech business, has sourced a lead investor for a $32 million Series A financing round, in the form of a debt facility. In collaboration with Raises.com’s Self-Serve Investment Banking Portal and Kevin Onyeka, the founder at Wise Digital Group Ltd., the business seeks to use this capital to scale its operations. Uberstate, the FINTRAC-registered Money Service Business is a liquidity provider for various use cases in digital currency on both proof of stake, and proof of work applications. Uberstate is registered with FINTRAC.
Uberstate, an early client of Raises.com received the $32 million offer after the firm launched the Uberstate Card. The card, being a very easy bridge for the mass market to spend cryptocurrencies on daily expenses at the point of sale machines. Jess Davis, after 20 years of commercial real estate experience built Uberstate with the sights on pioneering more effective digital banking platforms.
“There is a massive demand for experienced sponsors who have a demonstrated track record in not only in high-finance but in architecting De-Fi products. Credit and leverage facilities from specialty finance companies as well as from alternative credit and private equity funds were also popular in the recent low-interest environment. Every one of our members is different and needs customized solutions as they continue to grow their strategies. Although most of our members are emerging fund managers and business buyers, Uberstate, an early Raises.com member, managed to source a considerable facility during the recent frenzy with cryptocurrencies. Overall this will allow Uberstate to gain substantial market share and add prestige to other potential members in our network as Raises.com consults a variety of parties across a variety of industries including specialty fund formation and acquisition finance,” says Raises.com founder Natu Myers.
The actual offering and sale of such securities were completed through entities with appropriate registration in jurisdictions where required.
Raises.com is a global boutique corporate advisory firm and inventor of the market category Self-Serve Investment Banking, which is specifically focused on assisting its members in structuring and financing funds, roll-ups, and acquisitions. Ultimately, Raises.com empowers entrepreneurs to swiftly set up and raise over $10 million for their new funds, rolls-ups, or acquisitions, all while saving founders millions of dollars in the process.
This turn-key solution democratizes investment banking, helps companies get ‘institution-ready,’ ensures their capital-raising campaigns are quicker and more effective from all aspects ranging from compliance to cost-saving deal structure and innovative capital raising structures. All projects are assisted through globally compliant means with a rapidly expanding global presence with joint venture partnerships.
Raises.com as a corporate consultant works with a global network of investment bankers and is planning to become an exempt market dealer in Canada.
(see our note of forward-looking statements and other terms at Raises.com/disclaimer)
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SOURCE: Raises.com Inc.
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