Banxa Holdings Inc., a leading digital payment infrastructure provider, has announced that it has successfully paid off its remaining debt and strengthened its capital structure. This achievement comes as the company completed the payment in full of the final buyout amount of senior secured debt pursuant to a convertible security funding agreement with Lind Global Fund II.
The buyout amount, totaling CAD$4.2M, was paid in cash using the funds raised in a private placement. By eliminating its debt, Banxa has not only reduced its cost of capital but also removed any restrictive covenants, providing greater flexibility for future financing. This milestone is expected to support the company’s growing transaction volume and its ongoing expansion into new geographic markets.
With the complete payment of our debt, we have significantly improved our capital structure and enhanced our ability to obtain lower-cost capital, commented the spokesperson of Banxa. This achievement marks an important step forward for us as we continue to expand our global footprint and provide seamless digital payment solutions to our customers.
Banxa’s payment infrastructure facilitates the seamless exchange of digital currencies into traditional fiat currencies. The company enables businesses around the world to accept cryptocurrencies as a means of payment, ensuring secure and hassle-free transactions. With its robust technology and extensive network, Banxa has emerged as a key player in the rapidly evolving digital payments industry.
The repayment of the debt marks a significant milestone in Banxa’s financial journey, enhancing its financial strength and solidifying its position as a reliable and trustworthy partner in the digital payment space. By successfully clearing its debt obligations, Banxa has unlocked new opportunities for growth and expansion, enabling it to deliver even better services to its customers.
As Banxa continues its global expansion, the company remains focused on providing innovative and secure digital payment solutions to businesses and individuals. With a strengthened capital structure, Banxa is well-positioned to seize growth opportunities and drive the adoption of digital currencies worldwide.
