Contactless Mobile Banking

Security Type
Common Stock
Min Investment
Palo Alto, CA
Offering Date
June 24, 2021
Expected Close Date
December 21, 2021
Target Raise
Security Price

Company Description

MOVO® is ON-DEMAND Mobile Banking with End-to-End CONTACTLESS Payments, all in one app. It is purpose-built to empower customers to instantly and securely deposit, mint, pay, receive, save, send, spend money and convert crypto to USD from their mobile phone, in real time, every time. Grounded by its cutting-edge, patented technology, a self-contained ecosystem (called HyperBIN®), MOVO delivers a comprehensive set of “digital cash” financial solutions ON-DEMAND, all in a CONTACTLESS environment. We have raised nearly $1.5M on a convertible note, with a $150M cap.

Key Deal Facts

CEO & Founder, Eric Solis is a Fintech entrepreneur with more than 20 years of experience. Fortune Magazine called him an all-star and a top inventor. His product MOVO, got top ratings from the industry. Eric has courage, passion, perseverance, and views inclusion as a key attribute.
MOVO holds 4 issued patents with 11 additional pending patents that define and protect its “first-of-its-kind” financial ecosystem technology (called HyperBIN®) upon which 7 integrated banking, payments, and blockchain solutions have been built. Four are deployed today.
We believe MOVO’s performance to date and top rankings from Money Under 30, NerdWallet, Credit Karma, and others demonstrate that MOVO can compete and differentiate itself in an industry with trillions in payments and tens of billions in revenue up for grabs.

Management Team / Advisory Board Bios

Eric Solis, Chairman & CEO, Founder
Eric Solis is a full-stack entrepreneur with more than 20 years of experience leading innovative fintech companies and pioneering the advancement of digital banking and digital finance, including payments, micro-investing, securities, money transfer systems, transfer agents and record-keeping. He is a well-known fintech industry leader who has spearheaded the development of many financial technology solutions and holds numerous industry patents. Eric is MOVO’s visionary leader, chief innovator, consummate idea man with the outstanding communication and execution skills. Eric began his career in wealth management, where he achieved Chairman Council Producer status at Merrill, Prudential & LPL. He then began developing fintech technology at its infancy by founding and acting as CEO for, where he pioneered and coined the term micro-investing in 1999. He later used this micro-investing technology for his second start-up, ARK252 Systems, which was designed to help wealth accumulation to the underbanked. Eric is an alumnus of Stanford University, Graduate School of Business, with educational credits in blockchain, artificial intelligence and business from MIT, Oxford, and Stanford GSB, holds FINRA series 7, 24, 65 and 63 licenses, and earned a CFP designation from the College for Financial Planning.

Bob Houghton, Head of Information Technology
25+ years of experience directing the design, implementation and operation of mission-critical information technology strategies and systems for global enterprises. Specialties: An engaged, hands-on executive with a deep foundation in technology and software development, as well as corporate IT restructuring (both Startup and M&A). Catalyst; Instigates innovation through transformational changes to business architecture, strategy operation, and technology. Volt Information Sciences, NetApp, Inc, Smith Micro, RealtyTrac, Western Digital. Also an investor in MOVO.

Charles Young, Head of Reg Tech and Compliance
Charles has been active in the FinTech industry for over 5 years and is currently the Head of Compliance at MOVO. He has also performed duties in Program Management and RegTech. Prior to joining MOVO, Charles had worked in the high tech industry for over 30 years managing customer support compliance, systems engineering, and AI software development organizations.

Jason Miles, Head of Digital Banking Strategies
Jason Miles has over 25 years of management experience in the financial services, technology, and outsourcing industry. He has experience with both start-up and large public corporations where he has demonstrated consistent success in turn-around assignments, consolidations, revenue growth/expense management, and building best-in-class operations and technology solutions. Jason is an investor in and a long-term consultant to MOVO on digital banking and payment strategies.

Raza Asfi
Head of Payment Technology
Raza is Head of MOVO's Information Services. He has over 9 years of experience working in financial services, payments processing, program management, and strategic advisory services. He has served in diverse roles from Software Engineer to Head of Program Management at the issuer processor to VP of Technology for a startup technology company. Raza's core focus is achieving operational efficiency and spearheading innovative solutions on the Fintech landscape. Raza holds a BS in Electrical (Telecommunications) Engineering degree from COMSATS Institute of Information Technology, Lahore. Raza is a consultant to MOVO. 

Steve Pfrenzinger
Head of Corporate Development
Forbes Author, Hall of Fame Angel Investor at Tech Coast Angels (400+ members), in Southern California. Serial Entrepreneur having built and sold two 8-figure revenue tech services companies and been an advisor to many early-stage companies. Speaker, Podcaster, and Exec Coach (Disney, Sony, Tesla, Broadcom, PwC, ...). Also an investor in MOVO. 

Lorena Sandoval Denny
Head of Marketing
Executive leader with 20+ year career charged with leading MOVO’s marketing strategy and execution. Deeply familiar with delivering complex and strategic consumer centric marketing initiatives across fintech, wireless, banking, retail and ecommerce industries. Broad expertise in multicultural, international and general mass markets leading cross-functional teams to deliver breakthrough digital and offline promotional plans, channel marketing support and consumer messaging. 

Earl Morley
Board Director
Earl Morley is an investor and entrepreneur with over 25 years of startup experience with expertise in strategy, scalable business execution and growth planning. He has successfully launched several large-scale enterprises, creating over $100 million in enterprise value. Earl is an alumnus of USC, a Top Rated Jet Pilot and an active philanthropist. 

Diane Link-Morley
Board Director
Diane Link-Morley, holds a Business Degree from the University of Minnesota Duluth. She served as a Senior Accountant for the Duluth Housing Authority for 12 years and as a Board Member of the Miller/Dwan Foundation including Amber Wing, which is a schooling facility for abused and battered youths.  

Grant Van Cleve
Board Director
Managing Partner at Hanger 75, Chairman, Chairman Emeritus, Board of Governors at Tech Coast Angels in Southern California. Activities: Angel investing, leadership development, CEO, Board of Directors, Chairman, entrepreneurship, early-stage investing, venture capital, VC, private equity, seed investing, entrepreneur, business incubation, incubator, accelerator, venture studio, venture factory, advisory board, venture philanthropy, patient capital. Balkans, Albania, Sweden, EFK, Macedonia, Montenegro, Greece, MENA, Southern California, Orange County, Newport Beach, Penn, Wharton.
Amount Raised : $211,503
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Security Description

Common stock is a security that represents ownership in a corporation.

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