LAS VEGAS, Aug. 17, 2021 /PRNewswire/ — GBank Monetary Holdings Inc. (“GBank” or the “Firm”) (OTCQX: GBFH), the dad or mum firm for Bank of George (the “Financial institution”), is happy to share the press launch by Sightline Payments, a FinTech firm specializing in digital funds options for the sports activities betting and on line casino markets, saying its completion of a $244 million spherical valuing the corporate at over $1 billion. Per the press launch, and with the capital elevate, Sightline Funds turns into Nevada’s first fintech unicorn – one in every of roughly 700 startups worldwide to ever earn a $1 billion+ valuation as a non-public firm.
The complete press launch from Sightline Funds will be discovered right here:
Via its contract with BankCard Companies, LLC, Financial institution of George has been offering the banking options for Sightline Funds since 2016.
BankCard Companies, LLC entered into an settlement with Sightline Funds in 2014 to offer Financial institution of George as a sponsor financial institution to allow Sightlines Play+ cashless options for the gaming trade. Immediately, the Sightline/BankCard Companies, LLC/Financial institution of George partnership companies over 700,000 accounts at Financial institution of George with over $1.1 billion in transactions for the reason that Play+ sports activities betting launch in Nevada.
Financial institution of George, a subsidiary of GBank Monetary Holdings Inc (GBFH), and BankCard Companies, LLC additionally launched the Oregon State Lottery on-line sports activities wagering program with SB Tech, World Pay (FIS) and Sightline Funds in 2018 with the event of BankCard Companies, LLC’s proprietary “Participant Data Administration System (PIMS)”. PIMS created the Pooled Participant Account construction to allow digital cashless transactions.
GBank Monetary Holdings Inc. (“GBank” or the “Firm”) (GBFH), a financial institution holding firm with roughly $543 million in belongings as of June 30, 2021, conducts enterprise by its wholly owned subsidiary, Bank of George (named in honor of George Washington). Based in 2007, the Financial institution operates two full-service business branches in Las Vegas, Nevada, with main lending actions centered on partaking purchasers in Nevada, California, Utah, and Arizona. Financial institution of George has key companies in three outstanding divisions: SBA Lending, FinTech Gaming Division, and Business Lending. The Financial institution conducts enterprise nationally by its SBA lending actions (ranked twenty fourth within the nation by the U.S. Small Enterprise Administration for SBA 7(a) greenback mortgage quantity by June 30, 2021) and its BankCard Companies, LLC (“BCS”) partnership. Launched in 2016, its FinTech Gaming Division is powering Sightline Funds Play+ Answer (https://sightlinepayments.com/) for seamless and safe pay and play that’s enabling cashless, cell commerce options for gaming, lottery and sports activities betting ecosystems – positioning GBank as a monetary chief on this new funds world. The Financial institution additionally offers normal business banking companies with an emphasis on serving the wants of small- and medium-sized companies, excessive web price people, professionals, and buyers. The Financial institution affords a full complement of client deposit merchandise and is targeted on delivering a premium degree of service. Financial institution of George has been acknowledged yearly for every of the previous 5 years by S&P International Market Intelligence as a prime 100 U.S. group financial institution below $3 billion in belongings. For extra details about Financial institution of George, please go to its web site at https://www.bankofgeorge.com. GBank’s Widespread Inventory is quoted on the US OTCQX Market below the image GBFH.
GBank has made forward-looking statements on this Press Launch. These forward-looking statements are topic to dangers and uncertainties. Ahead-looking statements embrace info regarding doable or assumed future outcomes of operations of the Firm and its subsidiaries. When phrases reminiscent of “believes,” “expects,” “anticipates,” or comparable expressions happen on this Press Launch, the Firm is making forward-looking statements. Observe that many elements may have an effect on the long run monetary outcomes of the Firm and its subsidiaries, each individually and collectively, and will trigger these outcomes to vary materially from these expressed within the forward-looking statements contained on this Press Launch. These elements embrace, however are usually not restricted to: the latest and persevering with coronavirus (COVID-19) pandemic which poses dangers and should hurt the Firm’s enterprise and outcomes of operations in future quarters, credit score threat, modifications in market rates of interest, incapacity to attain merger-related synergies, competitors, financial downturn or recession, and authorities regulation and supervision. The Firm undertakes no obligation to replace or revise any forward-looking statements.
View authentic content material:https://www.prnewswire.com/news-releases/gbank-financial-holdings-inc-pleased-to-share-the-press-release-of-sightline-payments-announcing-its-1-billion-valuation-301357388.html
SOURCE GBank Monetary Holdings Inc.