Fundamental Applications Enters FinTech Space

Fundamental Applications (CSE: FUN) (FRANKFURT: 2FA) (OTCQB: FUAPF), a leading developer of original smartphone applications targeted toward millennials, announced today it has reached an investment agreement in principle with Mo Tecnologias LLC (MO), an innovative nano and micro credit decision engine and issuing platform.
As quoted in the press release:

MO has developed a unique credit engine platform, which can reach a credit decision in less than 20 seconds without requiring the user to provide any additional information, based on user behaviors. MO plans to launch nano and micro loans in Colombia in 2017 and then expand its service to additional countries in Latin America, Africa and Asia.
Fundamental’s CEO Brad Moore states, “I am extremely excited about this partnership with MO Tecnologias as a way to monetize Foro transactions in Latin American markets supported by MO. Fundamental’s investment will place Foro as the online store front of this distinctive ecommerce solution around the world.”

Click here for the full text release.