In addition to our core business, the Company has been actively exploring opportunities to acquire complementary revenue streams with profitable business models in the financial services sector. As part of this strategy, in January 2019, LM Funding completed the acquisition of IIU, Inc. (“IIU”). Based in the metropolitan Washington DC area, IIU, through its U.S. subsidiary, Wallach & Co., sells global medical insurance products for international travelers, specializing in policies covering high-risk destinations, emerging markets and foreign travelers coming to the United States. All policies are fully underwritten with no claim risk remaining with IIU.
For further information, please see the following announcements and Wallach & Co. web site.