Tampa fintech company announces $45 million investment

Tampa-based fintech company AtlasClear Holdings is starting the year off with a large investment deal. Hanire LLC has promised up to $45 million in funds, beginning with a $5 million advance set to close this month, according to a statement.

The funds will be provided through the sale of 20 million shares of common stock and a combination of convertible debt and equity, the release adds. 

“We are very excited about this partnership and the investment being made into AtlasClear Holdings by Hanire,” says Craig Ridenhour, president of AtlasClear Holdings in a released statement. “The investment is expected to allow AtlasClear Holdings to accomplish a number of our priorities, and we believe it is a real turning point for our company. For Hanire, AtlasClear Holdings provides an expanding platform that will assist it with its brokerage and investment banking businesses while creating cost efficiencies and enhanced revenue opportunities for both parties.”

The company plans to use the cash to restructure its debt, increase capital base to its subsidiary Wilson-Davis and move forward with the acquisition of Commercial Bancorp of Wyoming, the release states.

As of now, AtlasClear Holdings, founded in 2020, seems to be in early stages. According to a release, the firm plans to build a cloud-based banking platform for account opening, trade execution, risk management, regulatory reporting and settlement.