The Winnebago Tribe of Nebraska has acquired a majority ownership in an Internet startup.

The investment by Ho-Chunk Inc., the tribe's economic development corporation, will enable PaySAFE to expand its business. The firm offers escrow services over the Internet.

“Ho-Chunk, Inc. is an entrepreneurial company with interests in new technology and innovative ideas like PaySAFE,” Ho-Chunk President and CEO Lance Morgan in a press release. “The decision to invest in the company was just another opportunity to support an entrepreneur with a great business idea. We believe PaySAFE is a unique service that has the possibility to become something big.”

PaySAFE is operating out of the new Ho-Chunk Place office complex near Omaha, Nebraska.

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Ho-Chunk buys majority ownership in PaySAFE, gives firm a chance to expand (The Omaha World-Herald 9/24)