At a special event for entrepreneurs and Venture Capital funds hosted at the RedFlint Experience Center, UNLV’s Rebel Venture Fund announced their largest investment in their newest portfolio company Echo Payment System’s Inc. (Echo) and the coinciding launch of Echo’s new Envudu program.
“It may be a first to see the word ‘saving’ in the same sentence as ‘Las Vegas’ but what better place to announce the launch of a tool that makes saving money easy and fun?” asked Ronald Ingram, Founder and CEO of Echo Payment Systems.
The company is the brain-child of serial entrepreneur Ronald Ingram who spotted a global opportunity spanning several market verticals and industries. Echo is a new Fintech platform that offers companies highly customizable payment solutions including mobile wallets, apps, debit and prepaid cards tailored to specific company needs. The financial management tools and services offered by next generation banks (neobanks) and companies like Envudu are made possible by Echo’s middleware and Application Programming Interfaces (APIs).
“Echo is our largest commitment to date and a significant step towards diversifying Vegas’ innovation eco-system. Echo is comprised of top executives with extensive international money center, technology, compliance and banking expertise led by Ingram. We view Echo as a potential home run for us financially and hopefully the initiation of a new dimension of innovation in the Vegas valley,” said Grant Anderson, a Director of Rebel Venture Fund.
“Normally we invest in startups but Echo presented a rare opportunity to take a meaningful stake in a company in the early stages of potentially explosive growth. Besides the technology, we invested in a team with an outstanding track record. They are among the absolute best in their industry.”
“We are very pleased that UNLV has taken an interest in Echo. Beyond funding, we see the university as a long-term strategic partner that can funnel talent to Echo. Also, the Envudu program is a great way for entrepreneurs to pay their people. It’s a must have for students and their parents to cultivate fiscal responsibility.” added Ingram.
When asked, “Why Vegas?” Ingram says, “We are a global business but I located here because Vegas is more and more attractive for Fintech (Fintech). The biggest conferences in our industry like Money 2020 bring everyone we need here. Travel, taxes and cost of living are ideal, and the addition of NFL and NHL teams – Raiders and Golden Knights - will make this cosmopolitan city even more appealing for partners, clients and employees.”
Source: UNLV Rebel Venture Fund Announces Echo Investment and Launch of Echo Powered Savings App Envudu | Benzinga