Unite Global Funded for Launch to Banks
Norway’s Unite Global AS, provider of the UNITE real-time global banking correspondent hub, has received a $5.25 million cash injection from Swedish financial institution Svea Ekonomi AB. Svea is a strategic investor, alive to opportunity and active in the rapidly evolving payments space. The investment values Unite Global at $106 million, pre-revenue.
WOCU Limited has entered into an agreement for the issuance of WOCU electronic currency from the UNITE system. Establishment of the UNITE system is the enabling event to making WOCU currency issuance into the established banking system possible. This funding of UNITE now allows its international payments system (cheaper and faster than current systems) to launch to banks.