FBH, and its fully owned subsidiary Moonstone Bank, today announced that it has raised $11.5 million in a private placement from an investment by Alameda Research Ventures.
The two entities have committed to making traditional financial systems work for innovative small to medium-sized enterprises that are underserved by the traditional financial industry. Moonstone Bank’s platform is designed to break down the barriers that limit the growth potential of SMEs looking to increase their footprint – by providing easy access to modern banking features, valuable services and the means to take their businesses further.
“At Alameda Research, we are committed to growing the industry and supporting businesses that are creating real change,” said Ramnik Arora of Alameda Research Ventures. “Moonstone Bank offers solutions to address the challenges faced by high potential, fast-growing small and medium-sized enterprises by giving them access to a full suite of banking services. The user-friendly, compliant, regulated and innovative platform, makes Moonstone Bank an attractive and valuable force in a dynamic ecosystem.”
“Alameda Research’s investment into FBH Corp and Moonstone Bank signifies the recognition, by one of the world’s most innovative financial leaders, of the value of what we are aiming to achieve. This marks a new step into building the future of banking,” Jean Chalopin, chairman of FBH, said.
FBH Corp also announced today the appointment of Ronald Oliveira as Moonstone Bank’s CEO. Mr. Oliveira will be leading the digital transformation of the organization into a provider of financial services to industries such as blockchain, cryptocurrencies and cannabis.
Before joining FBH Corp, Oliveira was the US CEO for Revolut, a global fintech headquartered in the UK. He worked on Revolut’s official public entry into the US. Prior to joining Revolut, Ron held positions as the President, Chief Credit Officer and Chief Operating Officer at several banks.
“Moonstone Bank is poised to be market innovator, creating enhanced economic opportunity for millions of unique and innovative businesses that are being excluded or marginalized from the traditional banking ecosystem,” said Oliveira. “This is incredibly exciting! The possibilities ahead for our bank are endless and I am grateful for the opportunity to be part of building the future of finance for the next generations, along with those leading-edge industries.”