Veteran fintech Firstmac is staking a renewed claim for control of ASX-listed baby bank Goldfields Money, with an offer to inject A$20 million in capital, an offer scorned by the target's board on Friday.This investment would supply Goldfields with the full amount of capital uplift demanded of the company as part of the recent approval to label itself as a "bank".The Queensland-based non-bank mortgage funder aims to replace Finsure, a mortgage aggregator, as partner in a reorganisation of Goldfields, an ADI that five years ago was a tiny country credit union with around $60 million in assets. Firstmac already owns around 10 per cent of Western Australian-based Goldfields.Goldfields and Finsure first outlined their vision for a merger in November 2017 (in the context of a hostile bid from Firstmac) and the pair have rescheduled completion dates a couple of times since then.Two days after receiving the offer from one of its major shareholders, a resistant Goldfields informed the ASX that "the board did not consider the Firstmac proposal to be in a form capable of acceptance or warranting further investigation."Firstmac Holdings, in a statement, then confirmed "that it made a conditional offer to invest $20 million in Goldfields Money by way of a placement." Goldfields said this offer was made a $1.40 per share, which compares with the closing price on Friday of $1.22 per share.Firstmac first made a cash takeover offer for Goldfields in November 2017 that valued the financier at $1.27 per share.Goldfields turned down that offer and promptly negotiated a friendly merger with Finsure. Terms announced then were Finsure shareholders to receive shares valued by the Goldfields board at $1.50 each.The target said the Firstmac proposal included as a primary condition "the immediate cancellation of the Finsure transaction among other customary conditions".One of those conditions - "no shop, no talk and no due diligence [for any alternate bidder]" - Goldfields has already agreed with its preferred partner, Finsure.The Goldfields board comprises Peter Wallace (chair), Derek La Ferla, Peter Hall and John Kolenda (CEO of Finsure) and also Firstmac CFO James Austin.Firstmac said in its statement that "it believes that the proposed Finsure transaction is struggling due to the overvaluation of Finsure and the extreme capital conditions that APRA imposed on Goldfields Money as a condition precedent of its approval." The bidder argued that "there is no indication that the capital requirements imposed by APRA in June are any closer to being met. "Firstmac made an alternative offer to Goldfields Money which we thought was good and would solve its capital problems [but] we were not able to complete negotiations in time because a number of Goldfields Money board members had scheduled a fishing vacation in Vanuatu."Australia's "largest non-bank lender" (according to its website) Firstmac recently said reached the milestone of $10 billion in mortgages under management, with a further "$250 million in cash investments".Founded by CEO Kim Cannon in the late 1970s, Firstmac has long hustled for a commercial entry into the licensed banking sector. It has an application under consideration