North America Capital-as-a-Service Senior Secured Term Notes Token

Overview

The Company is a next-generation financial services company seeking to deeply penetrate the embedded lending market by partnering with payment facilitators (“PayFacs”, e.g. credit card processors) to offer SMB merchant cash advances (“MCAs”) that are repaid via automatic transfers from revenue receipts. While initially founded in 2019 as a SaaS financing platform, the Company's founders opted to wind down the portfolio and focus on building a more scalable MCA product. Modeling the new MCA product after Square Capital, the Company's MCA product purposefully attaches to merchants “in the flow of money” by partnering with PayFacs to provide financing to SMB merchants by leveraging the PayFac partners’ transaction data and captive end-user base. The Company's new MCA product allows small businesses to draw against a maximum advance limit to cover short-term liquidity needs and fund working capital or small ticket purchases (e.g. payroll or appliances).