BLUE BELL, PA — Rego Payment Architectures, Inc. (OTCQB: RPMT) has reached a significant financial milestone by closing its Series B Preferred Stock private placement, adding $3.5 million to exceed $100 million in total capital raised. This substantial injection of funds positions the company strongly to pursue its corporate objectives and strategic initiatives for the year ahead.
CEO Peter S. Pelullo remarked on the achievement, stating, “The completion of our Series B Preferred Stock offering brings the total capital raised by REGO north of $100 million. This most-recent investment, along with our $20 million line of credit, lays a solid financial groundwork for realizing our 2024 corporate and strategic ambitions.”
The successful closure of the Series B Preferred Stock offering reflects investor confidence in Rego Payment Architectures and its growth prospects. With a financial backing that now exceeds the $100 million mark, the company is well-equipped to drive innovation within the payment architectures sector and navigate the evolving landscape of financial technology.
This milestone not only signals Rego’s strong financial health and market position but also signifies its readiness to capitalize on emerging opportunities and propel its growth trajectory. The increased funding will likely support the development of new products, expansion into new markets, and potential strategic partnerships, positioning Rego Payment Architectures for continued success and impact within the industry.
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