General Information

We offer a blockchain platform for financial transactions. (Incorporated in Delaware) 

We have developed a financial technology platform for securing and streamlining financial transactions (the “Platform”) that utilizes blockchain technology to provide payment assurance and liquidity through a finance supply chain. Our Platform makes use of smart contracts, as programmatic representations of the terms of a legal contract between transacting parties, to affect automated financial settlements (account balance computations) to the supply chain participants. The Platform was developed in response to a need to transition from the current payment process down the supply chain (typically triggered by a manager or trusted party) to a more modern protocol that mandates simultaneous payment of all component and sub-component suppliers when the primary party makes a payment into the supply chain.

The blockchain elements of the system were in temporary abeyance during part of 2021 and 2022 with a secure database substituting for blockchain technology during a systems upgrade. The blockchain elements of the Platform returned to service during the first quarter of 2023. We elected to initially deploy the Platform and its services within the wholesale telecommunications industry, then into funding participating providers (each, an “ACP Provider”) under the Affordable Connectivity Program, or “ACP”, of the United States Government, operating under the Federal Communications Commission, or “FCC”, and subsequently into the major projects commercial construction industry. We believe the most significant issues for wholesale telecommunications carriers (“Telecom Carriers”) are a lack of payment assurances and lender funding. In order to connect calls between different countries, at least two to three Telecom Carriers are required in the international telecommunications supply chain using Voice Over Internet Protocol, or “VOIP”, technology. The Platform is intended to offer security to permit lender funding, increased payment confidence, fraud mitigation and transparency throughout each step of every supply chain finance transaction.

As a finance supply chain financial technology, or “fintech” platform, the Platform utilizes a set of technology-based solutions that aim at easing access to financing and improving business efficiency for buyers and sellers linked in smart contract transactions by automating invoice preparation and lender approval and automating settlement processes, from initiation to completion. In our experience, under traditional industry practice, major telecommunications carriers, as the buyers of telecommunication minutes (“Tier 1/2 Carriers”) delay payment for 60 days or more, while the smaller telecom carriers who are TessPay customers (“Platform Carriers”), as the suppliers, benefit from payment on much shorter terms. As a solution, under our paradigm, the Tier 1/2 Carriers’ high quality credit rating permits the Platform Carriers’ invoices to serve as collateral for financing by a third-party lender or factor. We pre-authorize and arrange such financing, providing short-term credit that optimizes working capital and provides liquidity for the Platform Carrier, who is able to spend time growing its business instead of searching for financing. Similarly, ACP Providers provide mobile broadband services and devices (“ACP Services”) to eligible subscribers under the ACP which is administered by the Universal Service Administrative Company, or “USAC”; however, ACP Provider reimbursement claims (“ACP Claims”) for the ACP Services are typically settled up to 60 days after submission, necessitating the need for interim working capital financing. We believe that this delay in ACP Provider reimbursement funding is an impediment to business growth for ACP Providers, and that access to factoring on our Platform helps address this issue.

We believe we have a substantial market opportunity in the growing global market for innovative supply chain financial services. Supply chain finance has recently been defined as a much broader category of trade financing, encompassing all the financing opportunities across a supply chain. Supply chain finance offers high-quality, low-risk financing to the small enterprises that tend to have difficulty obtaining low-cost financing on the strength of their balance sheets and history of operations. These businesses often lack the credit ratings that lenders require and are seen as too costly to underwrite for the amount of financing required. We believe the business models that reliably track data produced by the transfer of money and goods in a supply chain, are best suited to deliver supply chain finance. We believe our Platform is capable of serving a broad set of industries to provide payment assurance and liquidity through a supply chain.

According to Allied Market Research, the global supply chain finance market generated $6 billion in 2021, and is projected to reach $13.4 billion by 2031, growing at a compound annual growth rate (“CAGR”) of 8.8% from 2022 to 2031. An increase in the need for safety and security of supplying activities and surge in adoption of supply chain finance by small and mid-size enterprises in various industries is driving supply chain finance market growth, and we believe the integration of blockchain in online supply chain finance practices may create lucrative opportunities, including for our Company.

We estimate our addressable market (phone to phone) in the wholesale telecommunications industry to be $45 billion with an annual growth rate of about 3.8%.

Our goal is to evaluate additional opportunities to further expand the Platform’s range into more industries requiring supply chain financing solutions if and when we are able to successfully develop our business and Platform in the initial industries we are seeking to serve, wholesale telecommunications industry and the ACP market, including, but not limited to, the commercial construction industry, mobile phone roaming, oil and gas, commercial aircraft fabrication, automobile production, electronic device assembly and retail supply chain. 

(Note: Tesspay pulled in its price range on it small-cap IPO to $5.00 to $6.00 – compared with $4.00 to $6.00 previously – on 1.3 million shares to raise $7.0 million, according to an S-1/A filing dated April 26, 2024.)

Industry: FinTech - Financial Technology Blockchain Platform
Founded: 2017
Contact Information
Address 9160 Forum Corporate Parkway, Suite 350 Fort Myers, FL 33905
Phone Number (239) 544-4226
Web Address http://www.tesspay.io/
View Prospectus: TessPay
Financial Information
Market Cap
Revenues $2.0 mil (last 12 months)
Net Income $-2.05 mil (last 12 months)
IPO Profile
Symbol TPI
Exchange NYSE - American
Shares (millions): 1.3
Price range $5.00 - $6.00
Est. $ Volume $7.0 mil
Manager / Joint Managers Dominari Securities/ Revere Securities
Expected To Trade:
Status: TBA
Quiet Period Expiration Date:
Lock-Up Period Expiration Date:
SCOOP Rating
Rating Change