Ingo Money announced the growth equity investment it had received from private equity firm Camden Partners. The actual amount of the investment was not disclosed. Ingo Money said the funding would be used to hasten development and expansion of its Ingo Good Funds Network. The Network is the company's remote deposit capture and money movement platform that provides clients easy access to money while eliminating risk. Ingo Money provides financial risk management solutions.
Ingo Money CEO Drew Edwards said, "It is our belief at Ingo Money that all consumers are in need of a trusted solution that seamlessly supports digital deposits, transfers and access to their money on their terms and their timetable."
As part of the transaction, Camden Partners Partner and Managing Member Shane Kim would be joining the Board of Directors of Ingo Money. Vince Talbert, the CEO of GiveCorps and former Vice President of Merchant Services for PayPal, would also be joining the Ingo board.
Camden Partners had been giving growth capital investments to emerging companies in the technology-enabled Healthcare, Business Services and Education sectors. It has more than USD 800 million in committed capital.
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