SLM Holdings Announces Strategic Partnerships with Chicago Investors to Elevate Its Intelligent Banking System

Published October 9, 2023

Chicago, Illinois--(Newsfile Corp. - October 9, 2023) - SLM Holdings, a leading fintech startup, is pleased to announce strategic collaborations with influential Chicago investors, signaling a significant milestone in the company's mission to redefine the future of digital banking. These strategic alliances are poised to reshape the way consumers interact with cash, ensuring a seamless integration into the modern digital economy.

While cash circulation in the United States reaches unprecedented levels, its usage is experiencing a steady decline as consumers increasingly adopt digital payment methods. Existing solutions for digitizing cash, such as bank ATMs, cash-to-crypto ATMs, coin-counting kiosks, and in-store retail deposits, have proven to be restrictive, costly, and inconvenient, impeding the full transition to a digital economy.

Operating discreetly under its private holding entity, SLM Holdings, the company has been diligently crafting a disruptive fintech ecosystem. This ecosystem reimagines cash management and payment services typically offered by banks and large financial institutions. SLM Holdings leverages AI-powered hardware and enterprise software solutions to rejuvenate cash-related services for consumers, retailers, and banks. The company is set to unveil its transformative product in early 2025.

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Co-Founders Gabriel Stone, Andre Battles, and Lester Larry

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Raising capital is a formidable task, particularly for tech ventures headquartered in Chicago. Nevertheless, SLM Holdings has experienced early success and remains optimistic about Chicago's potential as a burgeoning tech and innovation hub.

Co-founders Andre Battles and Lester Larry, both originating from Chicago's south side, boast strong connections within the city. Completing the formidable trio, Gabriel Stone, hailing from the North Shore, shares close ties with Larry from their time at the University of Illinois-Urbana Champaign.

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Co-Founders Gabriel Stone, Andre Battles, and Lester Larry

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"At SLM Holdings, we merge our diverse backgrounds in finance, technology, and entrepreneurship to create a nexus of intelligent banking innovations and solidifying strategic collaborations in Chicago's fintech landscape," Andre said.

In the quest for initial backers, the co-founders enlisted Chicago-native Peter Thompson, Chairman of Midwest Advisory of Lazard and a respected figure within the Chicago business community with deep family ties to the city's political landscape. In addition to Thompson, the company has been backed by angel investors who helm some of the most prominent financial institutions in the city, including a prominent Chicago-based cash management firm.

As SLM Holdings charts its course, co-founder Lester Larry believes in fostering cross-sector collaboration, stating, "We're optimistic that by initiating some cross-sector collaboration and cohesion amongst the biggest tech and non-tech players in the city, we might be able to create an ecosystem here that can compete with the larger tech hubs out there."

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Lester Larry
SLM Holdings

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