Payment application developer Coro Global files for a $13 million IPO

Coro Global, which is developing a gold-focused payment application and financial security platform, filed on Tuesday with the SEC to raise up to $13 million in an initial public offering. The company is currently quoted on the OTC Pink under the symbol "CGLO" and last closed at $5.50.

The company has not yet launched or generated revenue from it products. It is developing two planned products: Coro, a global money transmitter that will allow customers to send, receive, and exchange currencies, including gold, expected to launch by the end of the 2Q20; and Financial Crime Risk Management (FCRM) platform, an integrated anti-money laundering/know your customer onboarding and transaction monitoring solution for compliance departments, expected to launch in late 2020.

The Miami, FL-based company was founded in 2005 under the name Hash Labs, which was changed to Coro Global in January 2020. It plans to list on the Nasdaq under the symbol CORO. Aegis Capital Corp. is the sole bookrunner on the deal. No pricing terms were disclosed.

The article Payment application developer Coro Global files for a $13 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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