Tintra PLC announces first tranche of direct funding
Innovative fintech firm, Tintra PLC, has closed the first tranche of its $10m funding round with the announcement of an initial $3 million investment at a valuation of $100 million.
With previous funding rounds structured through a holding company, the Company has now moved into the next phase of its growth with this direct to market offering.
Tintra is building emerging market focused banking infrastructure that will enable institutions, EMI’s, multi-nationals, Governments and large corporates in the emerging world gain level playing field access to global banking systems in a way that understands their geographic need. The company is setting out to revolutionise the marketplace.
The funds will be used to drive Tintra’s next stage of strategic growth and the build out of game changing artificial intelligence via the development of its RegTech business unit, following its new joint venture with award-winning Artificial Intelligence and Machine Learning business, TMC2, via its subsidiary Finsensr. The TMC2 team have recently announced an imminent exit from their current project at a valuation north of $5bn.
Under the JV, advanced, end-to-end AI tech [some already patented] will be utilised and created to revolutionise how compliance between developed and emerging market economies works – moving away from the current one size fits all approach that does not do a sufficient job.
Richard Shearer, CEO of Tintra PLC, confirmed: “I am delighted to be announcing this first tranche of our first direct funding round. Both of our new funding partners are very sophisticated investors and this nod of support in what we are building – and its potential – is a very rewarding feeling.
We are moving incredibly quickly, and whilst of course there will be bumps in the road, we feel we have now got a clear run at the target. Both of our two current banking applications are tracking better than expected and are on target for completion on time. Our friends and JV partners at TMC2, who are about to exit their previous AI project next month at a valuation north of $5BN [according to media reports], are freeing up time to focus all energies on our game changing regulatory technology.
This funding round, and the second tranche yet to be closed, gives us the runway now to start building out a best-in-class team, some of whom I expect to be announced to the market soon, and to engage some of the best consultancy minds in the sector who we have been positioning over the past few months.”
Tintra PLC is publicly listed on the AIM market of the London Stock Exchange and also available on the OTCQB Venture Market in New York.
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