The amount of the transaction, which is expected to close by year-end, subject to final due diligence and documentation, was not disclosed.
Led by Dave Wilkes, founder and CEO, Fuze Network Fuze Network is a card disbursement platform that enables funds to be moved directly to bankcards (credit, debit, prepaid and private label). It was backed by Metamorphic Ventures and Kickstart Seed Fund (read here).
Led by Drew Edwards, founder and CEO, Ingo Money provides technology that enables its partners and consumers to convert any check into guaranteed and irreversible Good Funds. The Ingo Network can be accessed directly by customers of most prepaid programs via the Ingo Money App or within their native mobile applications. Bank and retail locations nationwide also use its Enterprise solutions in their branches, stores, ATMs and mobile applications.
The combination aims to improve Ingo’s offering and allow its consumers to use their mobile phones to convert any check or cash into electronic Good Funds.