Press Release on OTCQB Venture Market Admission
For Immediate Release
29th October 2021
("Tintra" or the "Group" or the "Company")
As part of its broader strategy, fast moving fintech company Tintra PLC has this week commenced trading on the OTCQB Venture Market, the mid-tier OTC equity market. Based in New York the market lists primarily early-stage and developing companies both from the US and internationally.
This is the latest step in Tintra's strategy to build an emerging market banking gateway lead by artificial intelligence driven compliance.
With a management team that has deep knowledge in providing services between emerging and developed markets, Tintra is using this to innovate a technology that allows emerging and developed markets to interface in a seamless way, establishing compliance without friction, the Company thinks of this as the building of not just a tech interface but by being in many ways a cultural API as well.
The Company's macro strategy is to innovate to be a regulation driven financial technology company that provides direct access, via licences in the UK supported by full bank licences in strategic geographies in Qatar and Puerto Rico in the first instance, with more to follow.
This will all be driven by cutting edge artificial intelligence, demonstrated by the recent announcement of a joint venture with specialised AI and research Time Machine Capital, which subsequently saw Tintra's share price jump, cementing its position as an attractive, high growth international company.
Tintra's latest move will connect it to the deep liquidity that only the US can provide. This will enhance both share liquidity and capital raise potential.
OTCQB is the leading market for US and international companies in the development stage, trading on the OTCQB will have no impact on the trading of Tintra's Ordinary Shares listed on AIM and no new Ordinary Shares will be issued as part of this new cross-trading facility.
Richard Shearer, Chief Executive of Tintra, recently commented:
"We came at this venture having a wealth of knowledge and understanding of where the gaps between developed and emerging world banking was and thought that we knew exactly what needed to be done. Over the past 6 months with input from some of the best minds in the fintech sector we have expanded our thinking to a point where we have built a model that is somewhat revolutionary. I have been developing my own thinking, and in turn, that of the team, a lot in the past few months to the point where we feel that the real way to solve the biggest need in the space is to use technology to solve compliance issues, not using technology purely to enhance the interface between customer and bank. It is with that core tenet we are building out our platform.
Our deal with Finsensr, more importantly part of the Time Machine Capital family, which has built the artificial intelligence driver for a major US platform now raising funds at a £4Bn valuation, is a huge step, which may not be immediately evident to shareholders, but one that I believe will become more so over the coming months.
We are building this business with a very US, very tech-like philosophy; we are driven first and foremost by solving a deep need with a business that is scalable quickly once the building blocks are in place by using technology that perhaps will be patentable based on our very early discussions, but time will tell on that point.
We have made substantial steps with our banking licence in the Qatar Financial Centre, a bank licence that gives us direct fully regulated access to Africa and MENA and are now moving along very well with a pre-application in Puerto Rico for an IFE banking licence, which will give us direct access to the New York Federal Reserve and act as the pivot between LATAM and the US/EU.
This is a major game changing plan that is not going to happen overnight, a funding round is being explored to expedite this as earlier discussed and we are talking to many of the big-name players in the fintech space along with a number of significant family offices. You have already seen some early positioning in this regard.
Our vision is big, we are the right team to execute on it and if we get it right the rewards will see a meaningful change in the way banking between developed and emerging markets takes place.
I look forward to sharing the journey with shareholders new and old."
For further information, contact:
TINTRA PLC +44 20 3795 0421
Richard Shearer, CEO
Allenby Capital Limited +44 20 3328 5656
(Nominated Adviser, Financial Adviser & Broker)
John Depasquale / Nick Harriss / Vivek Bhardwaj
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