Fintech Scion's acquiring company, HWGC Holdings, raises USD 25 mln

Thursday 19 May 2022 10:16 CET | News

UK-based Fintech Scion’s acquirer HWGC Holdings has intended to raise USD 25 million of equity capital to expand operations in Europe and Asia.

This news follows the recent announcement of HWGC’s ongoing process to acquire two fintech companies, Fintech Scion and HWGG Capital.

HWGC has acquired approval from United States Securities and Exchange Commission for the issuance of USD 25 million RCPS at price of USD 1.00 per share. The company has secured most of the USD 25 million via private investment based on the investors’ Letter of Intent provided. HWGC expects funding round to be completed within a month upon the approval of RCPS issuance by the authority.

Fintech Scion, HWGG, and HWGC aim to build a cross-platform finance ecosystem on blockchain for business and individuals to store and move value according to distinct needs. Therefore, HWGC will be deploying its funds towards brand building, team expansion to accelerate product development, as well as further improve its native Cross-Platform Money Broking infrastructure by expanding working partnerships with global banks and payment partners.

In addition, the company will also be exploring two additional projects in East Africa and Gulf regions by acquiring stakes in East African Bank and setting up new subsidiary in Bahrain.

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Keywords: funding, expansion, fintech, acquisition, Acquirer
Categories: Payments & Commerce
Companies: Fintech Scion, HWGCash
Countries: World
This article is part of category

Payments & Commerce

Fintech Scion



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