Financing the innovation economy: Channel and TessPay join forces to provide liquidity and payment assurance for US Government ACP participants.
October 17th, 2023
TessPay and Channel have announced completion of a substantial funding and payment assurance program to participants in the US Government’s Affordable Connectivity Program (ACP). Our partnership is a testament to synergies between the technology sector and private credit managers in promoting the innovation economy. This program provides substantial funding for the provision of wireless internet services to US households, but does so in an ethically and socially minded manner. ACP was announced in conjunction with the Infrastructure Investment and Jobs Act to provide funding for low-income households and subsidies on tribal lands.
Channel, a UNPRI signatory and a FCA authorised and regulated fund manager, brings strong sustainability credentials to this initiative, its award winning ESG screening/monitoring practices, and provides innovative financing with this program within its fund suite.
TessPay provides the technological framework to streamline financial processes relating to registered provider claims for US government related entities for devices and monthly recurring charges to ACP subscribers. By partnering with Channel, TessPay reinforces its commitment to its stakeholders of providing top-notch, ethically-sound solutions to ACP participants.
Jeff Mason, CEO of TessPay said “We are pleased to combine our technology and funding solutions to support ACP program subscribers. This extends our 5-year relationship with Channel in combining best-in-class technology and capital solutions”. Walter Gontarek, Channel CEO/Chair added “This program extends our activities in supporting the innovation economy in a socially responsible initiative. We are proud to partner with TessPay in supporting ACP program participants.”
For more information regarding the Affordable Connectivity Program click here >> https://www.fcc.gov/acp
About TessPay: Tesspay.io
TessPay is an automated settlements solution that provides lending and ensures that you get paid daily, on time, every time. The TessPay platform combines Smart Contracts and Automated Payments to guarantee daily settlements for wholesale telecom carriers. Our business system features liquidity, payment assurance, lower fees, lower costs with an integrated VOIP switch. TessPay enables quick access to financing, allowing you to enhance cashflow and accelerate growth.
About Channel: channelcapital.io
Established in 2006, Channel is an FCA-regulated alternative investment fund manager (AIFM) specialising in providing capital to the innovation economy. It is a recognised partner to the working capital and alternative lending sectors and has facilitated over $10 billion of financing since 2014.
With a pristine regulatory and compliance track record, Channel powers alternative lenders with capital and data to grow their franchises. Channel provides flexible non-dilutive capital to lenders in the USA, Canada, EU and UK.
Channel is committed to pursuing best practices in environmental, social and governance (ESG) management and to facilitating sustainable finance for businesses across the globe.
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