Fits Cargo Partners with NBD Ventures T&T Opportunity Fund to Advance Settle Cargo Payments
20 September, 2022: NBD Ventures announced the launch of its T&T Opportunity Fund (NBD T&T Fund). The NBD T&T Fund will accelerate cash payments from ticket sales in the travel and transport industries, including airlines and cruise lines, by reducing settlement delays from weeks, to two days or less, settled in 120 currencies.
The NBD T&T Fund utilizes unique payments technology directly integrated with strategic bank partners to automate payments. It is intended that the NBD T&T Fund will deploy its capital to systematically accelerate cash settlements to industry participants, whilst algorithmically reconciling later cash settlements to the NBD T&T Fund, in return for a transaction fee.
Evan Lau, Managing Partner, NBD Ventures, said: “The NBD Ventures T&T Opportunity Fund combines cutting-edge technology with tried and tested funding structures, to deliver a new solution to an age-old problem. As the travel and transportation industries navigate challenging times, we are pleased to be a part of the innovation journey with our strategic partners to help solve global and complex issues. By providing access to cash payments faster, we can support these industries to return to sustainable growth, enabling businesses to do more and go further.”
About NBD Ventures
NBD Ventures is a private investment company that specializes in investing, advising on and executing strategic initiatives in the payments, technology, telecommunications and media industries. Our executive management team drives scale in business models with collective experience advising on and completing over USD 70 billion of capital raisings, mergers and acquisitions, joint ventures, corporate restructurings and exits, including successfully investing in assets under management exceeding USD 10 billion. www.nbdventures.com
About NBD Ventures T&T Opportunity Fund
NBD Ventures T&T Opportunity Fund deploys capital at scale to accelerate payment liquidity for entire industries with global significance. www.nbdfunds.com