The Wiki Group Inc. has signed a nonbinding letter of intent to acquire Moneytech Ltd., an Australian company.
Moneytech is a North Sydney-based commercial finance company that provides its customers with finance and debtor funding products, which can allow companies to purchase inventory with flexible interest-free terms.
The Wiki Group owns and operations WikiPay and WikiLoan. WikiPay is a cash-based mobile payment platform, and WikiLoan is a peer lending platform that works to allow family and friends to loan to each other through social networks.
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