Overview of Transaction

• Mica, a new global payment network, announced that it has secured $10 million in new funding, led by Moonshots Capital and MaQro Advisors; this brings total funding to $20 million, with existing investors including Intercontinental Exchange (NYSE: ICE)
• The most recent close valued Mica at over $200 million
• Founded in 2022, Mica is a new payment network, built from the ground up, changing the future of payments
• Credential-less Payments & Account Linking: Legacy payment infrastructure is anchored on the use of credentials, such as a 16-digit card number that can be easily replicated by bad actors; Mica implements a patented Universally Unique Ephemeral Key (“UUEK”), which eliminates credentials from the flow
• Adjudication Engine: Mica has further enhanced what a payment network can deliver by enabling SKU-level adjudication, age verification, and digital coupon redemption embedded in the transaction flow
• Multi-Tender Transactions: Mica’s platform can deliver real-time multi-tender transaction capabilities from a single tap/scan or click, enabling consumers to fund a transaction using multiple accounts while allowing the merchant to receive a single authorization and receive fiat currency
• Flexible Open Architecture: Agnostic to the use case (Payments, P2P, Bill Payment, Closed Loop, EBT, Remittances, etc.), the channel (Online, Wallet-based, In-app or In-store) and the value being exchanged (Fiat, Crypto, Loyalty, Coupons, Closed Loop, etc.)
• Mica’s solutions are supported by 10 patents issued in the United States with over 60 pending worldwide

Significance of Transaction

• Mica will use the funding to accelerate efforts in providing a new payments infrastructure for networks, issuers, merchants, and FinTechs and to further support expansion into new markets and recruitment of top talent

FT Partners' Role

• FT Partners served as financial and strategic advisor to Mica on this equity financing
• This transaction highlights FT Partners’ domain expertise in the Payments space, along with its successful track record generating highly favorable outcomes for high-growth, early-stage, FinTech companies