Vemanti Group, Inc. VMNT

What this company does

Vemanti, incorporated on April 3, 2014, under the laws of the State of Nevada, is a financial technology (fintech) company that seeks to generate revenues in the emerging and high-growth markets of Vietnam and Southeast Asia. On July 10, 2018, the Company made an investment in Fvndit, Inc. (“Fvndit”), f/k/a Directus Holdings, Inc., a Nevada corporation, for 20% equity in Fvndit. On March 21, 2022, the Company entered into a Digital Banking Platform Agreement with Vietnam Public Joint Stock Commercial Bank (“PVcomBank”) (the “Platform Agreement”) under which Vemanti agreed to partner with PVcomBank in designing, developing, and delivering a digital-only banking platform (the “Platform”) for providing products and services to SMEs in Vietnam. In the next 12 months, the Company intends to develop and release an online platform product to connect the export-dependent SMEs in Vietnam with short-term business financing based on Accounts Receivable (“AR”). On August 11, 2021, the Company signed a Fintech and Banking-as-a-Service (“BaaS”) business cooperation Memorandum of Understanding (“MOU”) with PVcomBank to jointly develop digital banking solutions for the underserved consumers and small businesses in Vietnam. As a result of the sale, the Company no longer owns any shares of Fvndit, and no longer holds the securities of any other entity other than those of our wholly owned subsidiary, VoiceStep Telecom, LLC.

Written from the business description in Vemanti Group, Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 28 March 2024. Every sentence was checked against that document before publication.