Akimbo Financial, Inc.

Akimbo Financial, Inc. is a payment solutions provider offering prepaid card services aimed at enhancing financial management for businesses and organizations through a user-friendly digital platform. Akimbo Financial, Inc. specializes in prepaid payment solutions, facilitating the movement and management of funds for organizations.

Founded by Tom Turner, the company has its headquarters in San Antonio, US. Akimbo was acquired by Payment Data Systems in December 2014, for undisclosed financial terms, shortly after raising USD 0. 85 mn in an Angel round of funding. The firm has completed three deals to date.

Akimbo offers a comprehensive personal payment platform designed to facilitate the receipt, spending, movement, and sharing of money through various prepaid card solutions. Its core products include the Akimbo Gift Mastercard, Akimbo Now Incentive Mastercard, Akimbo Now Promo Mastercard, and Akimbo Prepaid Mastercard, each tailored to meet different financial needs of businesses, non-profit organizations, and government entities. The platform allows users to register their cards for online purchases, access a dashboard for monitoring balances and transaction histories, and manage their accounts with real-time card activation features. Akimbo's services are utilized by a diverse client base that includes organizations across the United States, aiming to enhance financial management and improve customer satisfaction by providing a seamless digital experience.

Akimbo generates revenue primarily through transaction fees associated with its prepaid card offerings and services. The firm establishes partnerships with businesses and organizations to facilitate the distribution of funds, often allowing clients to customize card programs to better serve their target audiences. Clients may utilize Akimbo's platform for disbursing incentives, managing expenses, or providing financial support through various card products. Each card program can involve a structure where organizations pay for customization and transaction processing, thereby ensuring a tailored solution for their unique needs.

Akimbo's notable offerings, including the Akimbo Gift Mastercard and Akimbo Now series, serve as integral components of its revenue model while aligning with the company's mission to enhance user engagement and financial accessibility. Akimbo is focused on introducing new prepaid card solutions and enhancing existing products to cater to a broader audience. The company is also looking to expand its operations into new geographic markets, targeting regions within the US to enhance its service offerings. The recent funding round in December 2014 will be utilized to support these initiatives, particularly in product development and market expansion strategies.