One of our recent investments was in LiveWallet.com, a pre-paid debit card business. Now is a great time to jump into the debit card industry, if you are interested.
Our first partnership is with Matco Tools, a $300MM tool company that is owned by Danaher Corporation, a Fortune 250 company. They are the largest franchise tool company.
Matco has the ability to promote the new Matco Card to 1 million mechanics. Matco has the perfect demographic for a debit card and we created a great program for their franchise owners.
What really intrigued us about the debit card business was the $400 to $600 valuation put on each cardholder. Our goal with Matco is to distribute 100,000 debit cards by 2013.
For more information, visit LiveWallet.