Bahamas Fast Payday Cash Loan

Mango provider seeking $5.4m

Published: Wednesday, June 29, 2011

By Neil Hartnell

Tribune business editor

Transfer solutions (FST), the card mango and systems provider payment processing, is in the midst of trying to raise 5.438 million dollars from private investors for a collective 30 percent stake in the company, in the to finance its planned expansion in the Caribbean and generate $ 15 million profit in 2016.

A copy of the TSP private placement, which was obtained by Tribune Business reveals that the company is Jamaica, Haiti, the Dominican Republic and the southeastern United States for international expansion possible with a focus on groups and individuals outside the traditional market for financial services - the so-called "unbanked."

Adding that the mango TSP / could grow to a staff of over 100 strong, if its expansion plans were successful, the offer document, said: "Mango is looking to raise $ 5.4 million to help fund the growth of the company in the Bahamas, and regionally in Jamaica, Haiti, the Dominican Republic and the southeastern U.S. (Florida )............ .

"At the writing of this private placement memorandum, the mango is negotiating potential partnerships in the Middle East, Asia and Western Europe. The opportunity for Mango to offer financial services to the unbanked market is huge globally.

"The impact resulting from business growth will be serving over 300,000 customers in five countries Mango, with profits reaching over 15 million within five years."

The $ 5.4000000 is a private placement offering, and intended only for specific institutions and wealthy individuals who were solicited. It is not an offer to the public and the public of the Bahamas should not seek to become involved or to request action.

Transfer Solutions Providers / mango is an excellent example of where the future may lie for businesses and entrepreneurs many Bahamas - an innovative technology based company that is willing to look beyond the borders of the nation through high-margin, high value products and services.

"Since the company launched services in January 2011 mango, it acquired individual customers 7000, 250 registered traders and generated $ 700,000 in economic activity," a fact sheet accompanying the offer document states.