MCAP Inc. Announces Acquisition of QwickBonds

Rhea-AI Summary

On February 2, 2023, MCAP (OTC: MCAP) announced its acquisition of QwickBonds from Monroe Financial Partners and QwickRate. This acquisition is aimed at enhancing MCAP's trading technology offerings, particularly for community banks and institutional investors. The QwickBonds platform provides access to thousands of fixed income securities, expanding MCAP's distribution network through its exclusive partnership with QwickRate. CEO David Menn emphasized that this integration will significantly boost shareholder value by improving technology product offerings and market reach.

Positive

• Acquisition of QwickBonds enhances trading technology offerings.
• Access to thousands of fixed income securities strengthens market position.
• Partnership with QwickRate expands customer base and distribution network.

Negative

• None.

ORLANDO, Fla., Feb. 2, 2023 /PRNewswire/ -- MCAP Inc. (OTC: MCAP), today announced the acquisition of QwickBonds ("QB") from Monroe Financial Partners, Inc., and its affiliate, QwickRate, LLC.  MCAP Inc. continues to position itself as a leading customer service-driven financial technology company.

David Menn, CEO at MCAP, commented, "The addition of the QwickBonds trading platform and its application software will enhance our trading technology product offerings for existing and new institutional customers.  QB is a fixed income trading platform focused on the needs of US community banks, credit unions and institutional investors with live offerings in thousands of fixed income securities.  The combination of QwickBonds existing customer base and our exclusive partnership with QwickRate will provide MCAP with a vast distribution network for multiple fixed income related products and enhance shareholder value."

Dan Kanter, President at Monroe Financial Partners, stated, "We are very excited about this partnership with MCAP.  Our QwickRate subscribers will have access to an even greater variety of fixed income choices as well as improved pricing and transaction processing.  The partnership with MCAP is a perfect fit with our strategy to provide great value and insight to QwickRate subscribers that is both convenient and affordable."

About MCAP Inc.

MCAP Inc. operates as a financial technology company. The Company has three subsidiaries:  MCAP Technologies LLC, MBIT LLC, and MCAP LLC. MCAP Technologies LLC develops financial technology software and application software utilized in various global financial markets.   MBIT LLC is a digital asset company focused on blockchain integration in the global financial markets.  MCAP LLC is a U.S. based broker-dealer focused on electronic securities market making.  MCAP LLC connects institutional investors, broker-dealers and companies to the global equity and fixed income markets on a 24/7 basis.  MCAP focuses on developing technologies to provide customers with customized trading solutions, trading platforms and unique market access.

About QwickRate, LLC

For over three decades, QwickRate has provided the premier CD Marketplace for non-brokered funding and investing.  With more than 3,000 subscribers, the Marketplace offers a cost-effective way for institutions to gain direct access to a nationwide CD market.  QwickRate also offers other robust tools for community financial institutions including QwickAnalytics® for affordable access to interactive research on all U.S. banks, performance analysis and regulatory tools, including CECLSolver™.  QwickRate's IntelliCredit™ division delivers loan review and credit intelligence solutions that provide easy, affordable ways for community banks to expedite loan reviews, detect hotspots and take earlier action to reduce credit losses.  QwickRate, a Preferred Service Provider of The Independent Community Bankers of America (ICBA), is known for its exceptional customer service, which includes unlimited support and valuable on-staff regulatory guidance.  For more information, contact QwickRate at info@qwickrate.com or 800.285.8626.

Source:  MCAP Investor Relations - info@mcaptech.com 

Please visit our websites:  www.mcapmarkets.com and www.mcaptech.com

Please visit:  www.QwickBonds.com

Forward-Looking Statements

This release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. The matters discussed in this news release involve goals, forecasts, assumptions, risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements.

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SOURCE MCAP Inc.

FAQ

What is the purpose of MCAP's acquisition of QwickBonds?

The acquisition aims to enhance MCAP's trading technology offerings for community banks and institutional investors.

How will the QwickBonds platform impact MCAP's business?

It will provide access to thousands of fixed income securities and expand MCAP's distribution network.

What is the expected impact of the acquisition on shareholder value?

The integration is projected to significantly enhance shareholder value through improved technology and market reach.

When was the acquisition of QwickBonds announced?

The acquisition was announced on February 2, 2023.

What are the benefits for QwickRate subscribers following the acquisition?

QwickRate subscribers will gain access to a broader variety of fixed income choices with improved pricing and transaction processing.