New community-focused financial technologies company sponsored by a private equity fund with financial services and real estate focus aims to democratize access to finance services
ORLANDO, Fla., July 21, 2021 (GLOBE NEWSWIRE) -- CashRepublic™ Holdings, Inc. (CashRepublic™), a community-focused financial technologies company, announces the opening of its inaugural financial center in Orlando, Fla. CashRepublic™ brings a modern, technology-forward and friendly experience to its customers while offering a broad array of services they can conveniently access locally. Customers can cash their checks at highly competitive rates, send money to friends and family, pay their bills and get free money orders. CashRepublic™ is focused on individuals and small businesses who are either disenfranchised by the bank system or inadequately served by traditional institutions. With no minimum balance requirements and no monthly account fees, customers only pay for services they use. CashRepublic™ provides up-front fee estimates and transparency to eliminate surprises for its customers and protect them from predatory hidden fees.
CashRepublic™ was founded by Lexington Park Group and led by experienced banking and financial technology professionals, Chairman Rajib Das and Chief Executive Officer Alok Prasad.
“With CashRepublic™ we are creating a first of its kind company that brings together institutional capital, real estate expertise, banking experience and leading-edge technology to empower financial freedom among individuals and small businesses by providing them ease of access to competitively priced products and services compared to traditional banks and money services businesses,” said Das. “Florida has become the leader in technology and financial services. We are excited to build a trail blazing fintech here in Orlando and attract global talent to our state.”
CashRepublic™ plans to expand its footprint across Florida in the coming months. With debit cards and insurance products coming later this year, CashRepublic™ is set to become the primary financial service provider to its customers and offer its services across the United States in the next 12 to 18 months.
“Our goal is to bring the latest digital capabilities and financial products to our customers as we believe they deserve the same financial access that traditional institutions offer their more affluent customers,” said Prasad. CashRepublic™ plans to launch its mobile application later this year.
For more information about CashRepublic™ and its services, go to cashrepublic.com or visit the flagship location in Orlando, Fla.
About CashRepublic™
CashRepublic™ is a community-focused financial technologies company providing individuals and small businesses an intuitive and transparent experience. With zero commitment, no surprises, low fees and instant access to money, it aims to democratize access to financial services putting customers in full control of their financial lives. Conveniently located in the communities it serves, with its flagship financial center located in Orlando, Fla., CashRepublic™ delivers financial freedom to its customers with unrivaled service, personalized guidance, education and financial access.
About Lexington Park Group
Lexington Park Group is a financial services and real estate focused private equity investment firm. Its principals have over 100 years of combined investment experience and have led over $50 billion in transactions globally across various asset classes. As a special situations investor, it invests across asset classes, capital structures and transaction types to capitalize on market dislocation, mispricing and innovation.
Media Contact
Abigail Lacaillade
Uproar PR for CashRepublic™
alacaillade@uproarpr.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2339f47e-702f-456e-ba12-c7c8512d4a0e