Company Research Report: Stronghold
Company Overview
Name: Stronghold
Mission: To provide fast, secure, and accessible financial services for all, facilitating access to both legacy and next-generation payments and financial services through developer APIs. The vision is to build a more inclusive, stable, and connected global economy.
Founded: 2017
Founders: Tammy Camp and Sean Bennett discovered their shared vision back in 2014 through work on the Stellar platform.
Key People:
- Tammy Camp - Founder & CEO
- Sean Bennett - Co-Founder, Developer
- Scott Snow - VP of Customer Success
- Angie Keh - Director of Business Operations
- Hazen Baron - Director of Compliance
- Ina Bagne - Video Creative Director
Headquarters: Oakland, California
Number of Employees: No information is available.
Revenue: Grew from $1 million in 2020 to $7 million in 2021.
Known For: Stronghold is known for its payment processing services, particularly in high-risk categories such as alcohol, cannabis, and gaming. The company also created its own cryptocurrency, the SHX token, used as loyalty rewards for customers.
Products
ACH Payments
- Description: Provides a way for businesses to capture and verify bank details and payment authorization through APIs.
- Key Features:
- Programmable ACH payments
- Secure and reliable
- Seamless customer experience
Stronghold Direct
- No information is available about specific features.
Merchant Financing
- Description: Provides business financing solutions.
- Key Features:
- Fast and easy access to funding
- Equity preservation
- Scaled repayments
Checkout
- Description: Online card payment processing.
- Key Features:
- Simple and transparent pricing
- Browser-based card acceptance
- Secure payment processing
Card Processing
- Description: Enables businesses to accept online payments via card.
- Key Features:
- No hidden fees
- Consistent rates across card brands
Real-Time Payments
- Description: Offers near-instant clearing and settlement.
- Key Features:
- Real-time visibility and analytics
- Regulatory technology compliance
Virtual Payment Networks
- Description: Customizable payment networks for businesses.
- Key Features:
- Multi-party access and controls
- Compliance and governance tools
- Interoperability with existing systems
Recent Developments
New Products and Features
- Launch of StrongholdNET: A payment ecosystem aiming to modernize payments.
- Launch of $100 Million Investment Fund: Stronghold announced the creation of this fund to support companies within its ecosystem.
Partnerships
- Partnership with IBM: Stronghold’s blockchain infrastructure is used by IBM to transform payments.
General Developments
- Compliance Enhancements: Completed the Nacha ACH Audit and received SOC 2 Type II Certification to improve regulatory compliance.
- SHx Token Updates: Listings on various global exchanges (Gate.io, KuCoin, BitMart, Bittrex Global) and trading competition incentives.
- Acquisition of 20022 Labs: Enhancing technology and standards.
Summary
Stronghold is a fintech company headquartered in Oakland, California, with a mission to make financial services more inclusive and accessible. Founded by Tammy Camp and Sean Bennett, the company is at the forefront of blockchain and payment processing innovation. It offers a suite of products including ACH Payments, Merchant Financing, and Real-Time Payments, and is expanding its ecosystem through strategic partnerships and a dedicated investment fund. Stronghold continues to grow its presence and capabilities in the digital payment space.