BankProv, a future-ready commercial bank that offers adaptive and technology-first banking solutions to emerging markets, announced today that it will team up with Republic, a leading investment platform and crowdfunding marketplace. The Republic ecosystem has deployed over $1.5 billion in capital, supports over 600 companies, and includes over two million community members across 150 countries.
Through the collaboration, Republic will offer escrow accounts to companies looking to raise capital from investors on their platform. The Republic platform provides investors with access to vetted investment opportunities in startups, real estate, video games, crypto, and other verticals as well as syndicated funds and alternative investment opportunities. Republic was created to support fundraising efforts, expand equity investing to the masses and empower individuals by providing financial education.
“We are delighted to work with Republic and support their mission to expand access to new investment opportunities,” said Dave Mansfield, CEO of BankProv. “Our focus on developing specialized Banking as a Service (BaaS) technology tailored for our customers allows us to deploy industry-first solutions to underserved markets.”
Republic will utilize BankProv’s BaaS offering from Treasury Prime, a leading provider of BaaS for small- to mid-sized banks, to provide escrow accounts to their clients. Treasury Prime will also provide BankProv’s application programming interfaces (APIs).
“BankProv’s proven ability to offer future-forward banking solutions aligned perfectly with our strategic goals,” said Chuck Pettid, Head of Republic Retail. “Not only are we working with an industry leader, but we are also expanding our products to further serve our customer’s evolving needs.”