Fineqia Takes Equity Stake in Debt Securities Originator IXL PremFina

LONDON, December 1, 2017 /PRNewswire/ --

Fineqia International Inc. (the "Company" or "Fineqia") (CSE: FNQ) (OTCPink: FNQQF) (Frankfurt: FNQA) is pleased to announce that it has taken a minority stake in IXL PremFina Limited ("PremFina"), an award-winning premium finance solution empowering insurance brokers in the UK.

Fineqia acquired the PremFina shares from IXL Holdings, a related party of Fineqia, to partly settle a convertible loan owed to the Company. Fineqia consequently joins Japan's Rakuten FinTech Fund, the U.K.'s Draper Esprit Plc, a U.K. affiliate of Silicon Valley Bitcoin investor Tim Draper, Thomvest Ventures Inc, the investment firm of Canada's Peter Thomson, Emery Capital, Rubicon Venture Capital and Talis Capital as PremFina shareholders.

PremFina generates loans from the financing of insurance premiums, making insurance more affordable for customers. The loan agreements can be packaged into debt securities and offered on the Fineqia platform.

"Having a preferred and equity relationship with a debt originator such as PremFina helps us secure a pipeline of ongoing debt securities issuances," said Fineqia's Chairman Martin Graham.

Premium finance is considered high quality debt with U.K. industry loan losses at less than 0.15%. It involves paying the cost of an insurance premium to an insurance company upfront, on behalf on an insured company or person, who then repays the same amount on a monthly instalment basis, along with a finance fee.

PremFina provides funding as well as a Software-as-a-Service to enable premium finance by insurance brokers.

Fineqia's convertible loan amounted to CDN$1,289,023. With $342,825 converted out of the outstanding loan amount, $946,198 remains outstanding from IXL Holdings.

About Fineqia International

Fineqia International is a listed entity in the Canada (CSE: FNQ), US (OTCPink: FNQQF) and Europe (Frankfurt: FNQA). Fineqia International outlines the Company's corporate governance, culture, processes and relations by which the Company and its subsidiaries are controlled, directed and governed. Fineqia International oversees and ensures the overall success, planning and growth of the Company and all of its subsidiaries. For more information visit https://investors.fineqia.com/news