Rebel Venture Fund responds to Echo

The Rebel Venture Fund, the student-led university venturing fund of University of Nevada, Las Vegas (UNLV) has invested in US-based fintech company Echo Payment Systems.

Founded in 2015, Echo’s technology solutions are designed to open up banking services to small businesses and individuals looking for alternative payment transfer methods.

Echo’s payment platform includes mobile wallets, applications, debit and prepaid cards for companies and individuals.

Echo claims its potential audience is nearly 77 million people who do not currently use banking services, do not use them enough or are dissatisfied with traditional banking methods.

The investment comes at the same time as the company launches Envudu, its household budgeting and money management application.

Grant Anderson, director of the Rebel Venture Fund, said: “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 centre, 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.

“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.”