
Momentum Financial Services Group
Alternative financial solutions for North America's underbanked, offering loans, check cashing, money transfers, and prepaid card services.
Date | Investors | Amount | Round |
---|---|---|---|
* | CAD658m | Debt | |
Total Funding | 000k |
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Momentum Financial Services Group operates as a provider of alternative financial solutions across North America, targeting a specific market segment. The company serves individuals who are often financially disenfranchised, unbanked, or underbanked, including those with impaired credit histories who may not qualify for traditional banking products.
Its business model is built on providing direct access to cash and financial services through a dual-channel approach. This includes a large network of physical retail locations throughout the United States and Canada, complemented by robust digital and mobile platforms. This strategy ensures accessibility for customers regardless of their preference for in-person or digital transactions.
Revenue is generated through a portfolio of products and services tailored to its customer base. Core offerings include personal loans, check cashing services, domestic and international money transfers, and prepaid card services. The company positions itself as a crucial financial resource for hardworking individuals, fulfilling a need often unmet by conventional financial institutions.
Keywords: alternative finance, underbanked services, check cashing, personal loans, money transfers, prepaid cards, consumer finance, North American market, retail financial services, digital lending