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Income& Selected to Join Prominent FinTech Sandbox Program
The real estate investment platform is one of 11 startups to be accepted
Based in Boston, FinTech Sandbox is a nonprofit that provides free access to industry data feeds and APIs.
Led by CEO Brad Walker, the former Director of Institutional Product and Strategy for PENSCO Trust Company, and a team of accomplished financial services and technology veterans, Income& is introducing the PRIMO™, or Prime-Rated Individual Mortgage-backed Obligation. A superior alternative to existing investment options, each PRIMO™ is backed by a high quality, prime-rated residential mortgage. Unlike traditional fixed-income options, PRIMOs™ offer very low risk, seeking yields of 6% or better and a level of transparency and customization that has never before existed.
Using Income&'s next-generation platform, a portfolio of PRIMOs™ can be selected in one simple click or customized based on preferences for geography, risk, or desired yield. With the invention of the PRIMO™, Registered Investment Advisors (RIAs) and accredited investors will have access to something previously available only to hedge funds and investment banks.
With prominent entrepreneurs and investors directing the organization, FinTech Sandbox has created a way to provide new businesses with developmental support through the offering of financial data feeds and APIs. These resources are contributed by FinTech Sandbox's leading data, accelerator, and infrastructure partners including Fidelity Investments, Thomson Reuters, and Morningstar, among others.
Executive Director of FinTech Sandbox Jean Donnelly said, "We are thrilled to have Income& join our program. The addition of Income& gives us the opportunity to use valuable data, sourced from our partners, to bring their innovative financial product to the market. New products for fixed income investments are in high demand, and Income& has developed a cutting-edge solution that can provide immense benefits. FinTech Sandbox is excited to support Income&."
This news comes during a year of significant achievements for Income&. In December 2015, Income& announced its success in raising $2.9 million in combined seed funding and capital committed to support company operations. In 2016, Income& participated as finalists in both the coveted SXSWAccelerator Pitch competition in Austin, TX and high-profile PitchIt competition at LendIt USA in San Francisco, CA.
For more information on Income&, visit http://www.incomeand.com.
Income& CEO Brad Walker is available for interview.
About Fintech Sandbox
FinTech Sandbox (www.FinTechsandbox.org)
David Wachsman, Wachsman PR