The LOI comes as PayVida is preparing to become a publicly traded entity
Robert Ronning is sharing the news that Victory Square Technologies (“Victory Square”) plans on acquiring 33% of the company within the year. “We had multiple offers, a lot of people who wanted to lead the private placement. We are certainly honored to enter into an agreement with such a great company as Victory Square, and this partnership will definitely shape our future,” Robert Ronning commented.— Co-founder of the blockchain-based payment processor PayVida
The LOI comes as PayVida is preparing to become a publicly traded entity, with expectations of this happening in the early part of 2018. The support of Victory Square will allow the Vancouver-based enterprise to advance its mission of revolutionizing the Canadian payment processing industry. Starting with the premise that simplicity, affordability, and transparency are the key attributes of this service, PayVida has quickly progressed to the point where its technology and the expertise of its team have empowered the creation of an innovative, highly differentiated offering. With a keen sense of ethics and a focus on the morality side of payment processing, the company takes pride in being the first Canadian provider to eliminate the onus of contracts and discard cancellation fees while offering the benefits of next-day funding and a price lock guarantee. “The entire blueprint and DNA of what we built from day one rests on the notion of no contracts and no cancellation fees. We have the industry’s most transparent pricing, and we do not charge a monthly minimum,” as noted by Ronning.
Established in 2012 and headquartered in Vancouver, British Columbia, Victory Square is the ideal partner for PayVida given its focus on entrepreneurs with game-changing ideas. Businesses supported by the blockchain-focused venture builder obtain access to educational programs, global mentorship networks, distribution partners, creative workspaces, resources, and operational support in various other fields. Victory Square selects ventures with a potential for greatness and helps them build scale internationally. To date, it has changed the fortunes of more than 1,000 entrepreneurs and supported over 500 startups, assisting them in raising more than $100 million in combined funding. Its network partners include leading accelerators such as Y Combinator, 500 Startups, Techstars, and Launch Academy. The portfolio built by Victory Squareis a testament to the forward-thinking approach of the leadership team led by CEO Shafin Diamond Tejani. The company is investing in all the technologies that are disrupting economic sectors: artificial intelligence, virtual/augmented/mixed reality, and blockchain. In 2017, Victory Square became a member of the Blockchain Investors Consortium (BIC) – an organization dedicated to identifying global investment opportunities in the digital assets category.
Robert Ronning co-founded Dominion Card Services in 2012 and led it for ten months, using this time to refine the vision for his next venture. The financial services technology provider he launched early in 2013, PayVida Solutions is on a mission “to rebuild the payment industry from the ground up” and radically change the way businesses get paid. PayVida aims to spearhead the creation of a healthier marketplace by offering ethical and affordable payment processing solutions to business owners and entrepreneurs.
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