Vemanti Group Inc (OTCMKTS: VMNT) has been on the move northbound in recent days on a surge of buy volume and not much selling, VMNT has rocketed over $0.30 per share and highs near $0.40. This comes after the Company filed an 8k on March 9 stating it has entered into a Framework SaaS Agreement with Finastra International Limited that will only become effective upon Vemanti Group’s shares being listed on the Nasdaq Capital Market on or before May 22, 2023, and will have a term of seven years.
VMNT is no stranger to big runs; during most of 2020 and leading into 2021, VMNT saw a historic rise from pennies to over $2.50 per share. The Company operates as a financial partner for SMEs throughout Southeast Asia, helping their business become borderless and together shaping the region into a global economic powerhouse, especially in Vietnam, which is booming right now. Vemanti has also secured a up to $2 million investment from Alpha Sigma Capital Fund, LP signaling a major collaborative step forward for the two companies. We will be updating on VMNT when more details emerge so make sure you are subscribed to newsytrends.com by entering your email below.
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Vemanti Group Inc (OTCMKTS: VMNT) operating out of Irvine, California is a financial technology (fintech) company that seeks to establish a strong foothold in the emerging and high-growth markets of Southeast Asia. Vemanti drives growth through socially impact-driven financial services targeting the underserved. Strategically, the Company intends to focus future product and business development on building a digital banking (aka neobanking) platform aimed at making credit and cross-border payments simpler and easier for Small and Medium-sized Enterprises (SMEs). With Vietnam as the focal starting point, Vemanti’s goal is to be a valuable financial partner for the SMEs throughout Southeast Asia, helping their business become borderless and together shaping the region into a global economic powerhouse of growing supply chains and manufacturing. Back during the summer of 2021 Vemanti formed Vemanti Digital Ltd and deployed an Ethereum smart contract for a US Dollar-backed, fully reserved, stablecoin named Vemanti USD however the Company abandoned the coin and later burned the tokens.
VMNT was founded in 2014 by its CEO Tan Tran, bringing more than 25 years of seasoned high-tech industry experience. Prior to founding Vemanti Group, Mr. Tran worked at various leading technology companies including Western Digital, SMC Networks, Sync Research, Alcatel-Lucent, Veraz Networks, GenBand, Fronde, Metaswitch Networks, and Exalt Communications. He was featured in local Vietnamese business publications as an up-and-coming tech entrepreneur to watch. Since founding VMNT, Tan has worked to turn Vemanti Group into an investment and incubation platform for emerging companies with great growth potential, especially in Vietnam which continues to be an economic force on both a regional and global scale.
VoiceStep which was founded in 2005 by Mr. Tran and his old business partner Mark Wehberg, is a one-stop solution with regard to business-class VoIP services to its small to medium-sized business customers in the United States. On January 22, 2014, Mr. Tran purchased the membership interest in VoiceStep owned by Mr. Wehberg. VoiceStep provides a cloud-based multi-location, multi-user, enterprise-grade communications solution that enables employees to communicate through voice, text, web conferencing, and fax on devices, including smartphones, tablets, PCs, and desk phones. It offers PBX features such as multiple extensions, call control, Outlook integration, SM, telephony conferencing; fax, auto-receptionist, call logs and rule-based call routing and answering. The Company also has the ability to deliver customized voice applications to meet a customer’s business requirements. The entire switching infrastructure of VoiceStep is based on next-generation softswitch architecture and was engineered in-house from the ground up. This eliminates certain dependency on third-party vendors and, at the same time, allows the company greater technical flexibility and economic scalability.
@Vemanti $VMNT has officially started the journey with @FinastraFS after many months of brainstorming and planning. Many thanks to so many great people there! Together, we're setting out to build the best digital banking platform for the SMEs in SE Asia. pic.twitter.com/UHdDBZSMAw
— Tan Tran (@tanctran) March 13, 2023
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VoiceStep offers business-class VoIP products such as cloud phone systems (aka hosted PBX) and domestic/International origination and termination as a cost-saving and profit-increasing solution to multi-location enterprise customers. The Company is capable of delivering business-class VoIP solutions in all 50 States as well as in Canada and other countries where VoIP applications are allowed. VoiceStep’s network enables the following technology solutions: unified communications, data center services, content delivery, VoIP and cloud computing.
The Company acquired a 20% interest in Fvndit, f/k/a Directus Holdings, Inc., which owns eLoan, JSC for $300k consisting of $150k in cash and $150k in Vemanti stock. Due to dilution the Company’s 20% stake is now an 18.6% interest in Fvndit. Through its subsidiaries, Fvndit operates an online short-term P2P financing platform for SMEs in Vietnam. Fvndit’s mission is to make borrowing through credit a simpler process for entrepreneurs, thus making investing more rewarding for investors. Its wholly owned subsidiary eLoan, which was launched in 2017, operates an online P2P funding platform that matches investors with entrepreneurs, allowing anyone on the platform to fund short-term working capital directly to SMEs in Vietnam.
According to the 8k filed on March 9, on March 3 Vemanti entered into a Framework SaaS Agreement with Finastra International Limited, a limited corporation organized under the laws of Wales and the United Kingdom. The SaaS Agreement will only become effective upon the Company’s shares being listed on the Nasdaq Capital Market on or before May 22, 2023 and will have a term of seven years. If the Company is not successful in having its shares listed on the Nasdaq Capital Market on or before May 22, 2023, the SaaS Agreement has no force and effect. If the SaaS Agreement becomes effective, Finastra will license its software and provide development services, SaaS services, maintenance services and other services to the Company for between $325k to $550k per year.
Getting very interesting!!! $VMNT https://t.co/2PU7bpZF2e
— Diegobau (@Diegobau7) March 15, 2023
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Currently trading at a $20 million market valuation VMNT os is 70,524,209 with around 31,037,000 shares in the public float. Vemanti is OTCQB and an SEC filer and has less than a million in assets on the books, very little debt and minimal revenues to date. VMNT is an exciting story developing in small caps; Vemanti operates as a financial partner for SMEs throughout Southeast Asia, helping their business become borderless and together shaping the region into a global economic powerhouse, especially in Vietnam, which is booming right now. Another strategy Vemanti employs is to acquire companies and/or form joint ventures. The Company focuses on helping smaller companies accelerate their growth, execute their business plans and then scale up from there. Vemanti has a team assembled for the express purpose of sourcing attractive investment and M&A opportunities, developing and scaling them, and then building valuation for Vemanti shareholders. We will be updating on VMNT when more details emerge so make sure you are subscribed to newsytrends.com by entering your email below.
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Disclosure: we hold no position in VMNT either long or short and we have not been compensated for this article.