PointsKash Secures Capital Commitment After Beginning Rollout of Crypto ATMs

PointsKash is developing physical and digital platforms to create a flexible bridge between traditional financial services and digital currency ecosystems, according to the release.

The company plans to build an integrated financial ecosystem around its KashPoint Pro, KashPoint Lite and KashPoint Express solutions as well as its forthcoming PK Pay mobile platform, the release said.

With this ecosystem, PointsKash aims to provide consumers with broader access to financial services, and help merchants participate in the digital, mobile and loyalty-driven economy, per the release.

“We believe the financial industry is entering a period of profound change as traditional banking, digital payments, loyalty value and digital currency increasingly converge,” PointsKash CEO Michael Herron said in the release. “PointsKash is building a bridge between those worlds through a combination of physical access points, mobile technology and merchant distribution. We are excited about the role ahead and the role this capital relationship can play in helping us execute that vision.”

The capital plan announced Wednesday is milestone-based, with a first phase providing for up to $35 million of capital through Oct. 30 to support PointsKash’s immediate commercialization priorities, and a second phase providing for up to an additional $65 million of growth capital from February through April 30, if PointsKash achieves agreed operating, commercial and deployment milestones and satisfies customary closing conditions, according to the release.