NEW
YORK, July 31, 2024 /PRNewswire/ -- ModFi,
a leading Fintech development and IP licensing subsidiary of Source
Venture Studio LLC (SVS), recently issued its first non-exclusive
license for use of ModFi's Fintech patent and trademark portfolio,
to a leading high-tech company.
This strategic move underscores ModFi's commitment to advancing
financial technology by making its extensive suite of Fintech
patents accessible to the industry. The licensee gains access to
over ten years of intellectual property development, to support
their products in the market. The Fintech patent and trademark
portfolio includes IP covering: Cloud Wallet®, digital currency,
smart cards, mobile wallets, wearable NFC payments, online express
checkout, shopping cart technologies, digital rewards, couponing,
and web payment solutions, among others.
Peter Garrett, CEO of ModFi and
SVS, shared his enthusiasm, stating, "This lucrative agreement
marks a significant milestone in our ongoing journey of over a
decade in technology development and building a premier Fintech
patent portfolio. Partnering with TransactionsIP to launch our new
IP licensing program opens exciting opportunities for innovation,
helping new licensees in the Fintech and mobile wallet sectors to
enhance their products, expand market share, and drive revenue
growth."
"We're dedicated to securing additional licensing agreements
with a diverse range of Fintech companies, mobile wallet
manufacturers and financial institutions in the near future", said
Rich Ehrlickman, President of
TransactionsIP.
About ModFi: ModFi, a portfolio company of Source
Venture Studio LLC (SVS), specializes in the invention,
development, and licensing of patents in the Fintech sector. The
recent grant of a global non-exclusive patent license represents a
strategic effort by ModFi to foster advancement and innovation in
the financial technology arena.
About TransactionsIP: TransactionsIP is a leading
intellectual property brokerage and consulting firm offering a full
range of services to individuals, small companies and large
enterprises. TransactionsIP leverages client patents and technology
to maximize their returns.
For inquiries please contact:
Richard Ehrlickman
rich@TransactionsIP.com
561.302.3797
www.transactionsip.com
www.sourcevs.com/modfi
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SOURCE Source Venture Studio LLC