Stronghold Capital’s investments will expand founder representation and access in fintech innovation
SAN FRANCISCO — Stronghold, a payments and financial infrastructure company, has launched Stronghold Capital to invest $100 Million in pioneering companies and funds across three core areas: overlooked and underrepresented founders and fund managers, the payments and fintech ecosystem, and the Web3 and blockchain ecosystem.
The creation of an investment arm follows a wave of momentum for the Stronghold’s SHx token, now listed on KuCoin, a top-five global currency exchange. Stronghold Capital has invested in a crypto market firm, Sam Bankman-Fried’s Alameda Research, by committing to a DeFi syndicated loan through Maple Finance, an institutional capital marketplace built on blockchain. Stronghold has also invested in Precursor Ventures, which backs promising seed-stage innovators, and is looking to invest in companies with founders who identify as women, LGBTQ+ or Black, indigenous, people of color (BIPOC).
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Stronghold’s business grew five-fold across most measures last year while fulfilling the company’s mission to provide fast, secure, and accessible financial services for all. But these industries are multi-layered and complex. The challenges in payments and financial services will take many innovative companies to solve. Stronghold Capital will drive meaningful change through investments in companies with business models that will generate attractive returns while expanding access from Stronghold’s payments ecosystem to the overall financial ecosystem.
Stronghold CEO and co-founder Tammy Camp will serve as fund manager for Stronghold Capital. She advanced growth in fintech and blockchain throughout her earlier roles as partner at 500 Startups, head of growth at Stellar Development Foundation, and adviser to NFX Capital.
“Tammy understands the potential of technology, identifies rising talent, cares about societal reach, and can turn great ideas into realities. We’re excited to have her among this first pool of decentralized finance investors,” said Sidney Powell, CEO and Co-Founder of Maple Finance.
Stronghold’s merchant reward program drew attention in crypto communities last fall for its real-world application of the Stellar-based SHx token toward payment processing fees. Leading up to the KuCoin listing, three other top global digital currency exchanges—ranking 20, 15, and 10—listed SHx over the course of just two months.
Stronghold, as part of its own growth journey, raised capital from accomplished fintech founders, leading companies, and prominent industry advisors. Investors who have supported Stronghold’s rapid growth include: Ron Suber, The Bancorp co-founders Frank Mastrangelo and former CEO Betsy Cohen, Randy Reddig from the founding team of Square, Rob Stavis of Bessemer Venture Partners, Marqeta founder & CEO Jason Gardener, former Oppenheimer CEO, president & chairman Arthur Steinmetz, NerdWallet founder Jake Gibson, SoFi co-founder Dan Macklin, and Xpring now known as RippleX.
“Stronghold Capital will create opportunities to develop new products and business models that improve financial infrastructure for everyone,” said Camp. “Identifying and investing in emerging talent—especially underrepresented and undervalued founders— stands to benefit the developer community, the fintech industry, and even society as a whole.”
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About Stronghold
Stronghold is a leading financial infrastructure company that provides fast, secure, and accessible financial services through a simple API. Stronghold works with businesses to make payments quicker and easier while maintaining regulatory compliance and interoperability between payment systems. Stronghold launched the highly successful digital currency SHx in 2018 to provide real time settlement, discount in fees for business customers, rewards, and merchant cash advances. SHx currently has a market capitalization of more than $1.5 billion. To learn more, visit stronghold.co.
TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 103.40 points at 24,542.48.
In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.
The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.
The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.
The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.
This report by The Canadian Press was first published Oct. 16, 2024.
TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.
The S&P/TSX composite index was up 205.86 points at 24,508.12.
In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.
The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.
The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.
The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.
This report by The Canadian Press was first published Oct. 11, 2024.
TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.
The S&P/TSX composite index was up 0.05 of a point at 24,224.95.
In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.
The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.
The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.
The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.
This report by The Canadian Press was first published Oct. 10, 2024.
