Note from the Pubisher: We find it so interesting how different pieces of the fintech pie emerge in different markets, based on geographic needs. Miami has several fintechs serving Central and Latin America, which if you think about it, makes perfect sense. We just learned of an acquisition by Miami-based Next Group Holdings (OTCQB: NXGH), which according to their website, “….is a technology company which focuses on offering enhanced mobility solutions to the unbanked, under-served, and emerging markets.” This is their second acquisition in thirty days, and they’re clearly on an acquisition tear.
“MIAMI, July 5, 2016 /PRNewswire/ – Next Group Holdings, Inc. (NXGH) (the “Company”) today announces that it has signed a definitive agreement to purchase from Dean Keatin Marketing, LLC (“DKM”) Transaction Processing Products, Inc. (TPP, a Wyoming company), to acquire a controlling interest in AIM. The company AIM over the last 10 years in business has successfully generated over $1 Billion of stored value activations through its proprietary software and systems.
AIM provides the support, enterprise stored value product management software, and logistics infrastructure to some of the nation’s largest known brands (Harley Davidson, AMC Theaters and SuperValu Supermarkets) to host Closed Loop (Gift Card) and Open Loop (Prepaid Debit / General Purpose Reloadable) card programs. AIM has developed its own in-house fraud prevention tool that reduces “card not present” fraud to less than 1%. In addition, AIM provides warranty processing for Gift Card, Prepaid and Warranty offerings on its proprietary copyrighted intellectual property. AIM has provided these services for several multibillion dollar Fortune 500 companies over the past 10 years.”