Vancouver, BC – RevoluGROUP Canada Inc. (TSX-V: REVO), (Frankfurt: IJA2) (the "Company") is pleased to announce that RevoluPAY EP S.L. signed a Definitive Agreement ("DA") on the 14th of June 2021 with PROSEGUR CASH S.A. subsidiary GELT CASH TRANSFER S.L.U. Under the agreement terms, all underlying gross cash flows are to be processed through RevoluPAY via the Company's PSD2 banking license. The Company initially informed shareholders of this impending DA on the 1st of June 2021. The DA sees RevoluPAY launch what the Company expects to be the first of many white-label partnerships of its RevoluSEND remittance delivery financial technology. As with all such licensing, the RevoluPAY PSD2 banking license and superior KYC and AML protections sustain all financial cashflows. This first white-label of RevoluSEND technology permits remittance deliveries into Mexico, Brazil, Argentina, Colombia, Chile, Dominican Republic, Bolivia, Ecuador, Guatemala, Honduras, Nicaragua, Peru, Paraguay, Venezuela, and Uruguay. While this nascent partnership covers only 15 countries, the Company can offer this and other future partners such technology for expanded remittance deliveries to over 110 countries.
GELT CASH TRANSFER S.L.U.
GELT CASH TRANSFER S.L.U. was founded in 2019 as a wholly-owned subsidiary of PROSEGUR CASH S.A. to initially pursue a focus in the wholesale interbank family remittance sector. GELT and its parent Companies will expand into providing remittance services to retail consumers via the RevoluPAY rebranded RevoluSEND proprietary technology deployed under white-label through today's DA.
About Parent PROSEGUR CASH S.A.
Prosegur Cash is a leading global company listed on the Madrid Stock Exchange (Symbol: CASH) with a current market capitalization of approximately 1.42B Euros (approx. 2.09B $CA). Prosegur Cash provides logistics and cash management services and outsourcing services to financial institutions, businesses, government agencies and central banks, money factories, jewelers, and other business activities around the world. The Company has a team of more than 39,000 employees (in addition to 16,000 employees through joint ventures in India and South Africa), a fleet of approximately 9,000 vehicles between armored vehicles and light vehicles, and more than 550 installations between bases and other operational centers. Prosegur was founded in 1976 by Herberto Gut. It began as a private security company, focusing on power plants, industrial facilities, and shopping centers. In 1987, it became the first security company to list on the Madrid Stock Exchange and remains the largest Company in the private security industry in Spain. PROSEGUR operates in 26 countries across four continents. PROSEGUR's entry into new markets and subsequent expansion has often been through acquisition. Its operations grew initially through Spain, Portugal, and Latin America but have since expanded to other parts of Europe and Asia. In December 2013, PROSEGUR entered the Australian market by acquiring the second largest cash in transit business in the country, the Australian division of Chubb Security, for A$145 million (€95 million). Prosegur holds a market-leading position in many countries in which it operates, including Spain, Brazil, and Germany.
Company CEO Steve Marshall commented: "Today, a key market player in the finance sector has licensed RevoluSEND. Yet another example for our shareholders that our state-of-the-art technology is embraced and preferred by companies of great magnitude, exemplifying our revenue verticals' strength and desirability. A similar outcome is soon approaching for our crypto technology RevoluEX. We continue to leverage our PSD2 banking license and proprietary technology through these novel partnerships with companies that maintain vast user bases. We expect this first foray into the white-labelling of our RevoluSEND platform to be the start of many such partnerships, as the industry switches away from archaic bricks and mortar business models to securer, lower cost, more convenient web and mobile app technologies, such as those designed and owned by RevoluPAY."
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The Company's flagship Neobanking technology is RevoluPAY®, the Apple and Android multinational payment app. Conceived entirely in-house, RevoluPAY features proprietary, sector-specific technology of which the resulting source code is the Company's intellectual property. RevoluPAY's built-in features include Remittance Payments, Forex, Crypto-to-fiat exchange, Retail and Hospitality payments, Real Estate Payments, pay-as-you-go phone top-ups, Gift Cards & Online Credits, Utility Bill payments, Leisure payments, Travel Payments, etc. RevoluPAY employs blockchain protocols and is squarely aimed at the worldwide multi-billion dollar Open Banking sector and + $595 billion family remittance market. RevoluPAY® is operated by the European wholly-owned subsidiary RevoluPAY EP S.L situated in Barcelona. RevoluPAY is a dual-licensed Canadian FINTRAC and European PSD2 payment institution 6900 under the auspices of E.U. Directive 2015/2366 with EU Passporting. RevoluGROUP Canada Inc. controls five wholly-owned subsidiaries on four continents.
About RevoluGROUP Canada Inc.:
RevoluGROUP Canada Inc. is a multi-asset, multidivisional publicly traded Canadian Company deploying advanced technologies in; Banking, Mobile Apps, Money Remittance, Mobile Phone Top-Ups, EGaming, Healthcare Payments, Esports, Invoice factoring, Online Travel, Vacation Resort, Blockchain Systems, and Fintech app sectors. Click here to read more.
For further information on RevoluGROUP Canada Inc. (TSX-V: REVO), visit the Company's website at www.RevoluGROUP.com. The Company has approximately 175,180,592 shares issued and outstanding.
RevoluGROUP Canada, Inc.
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RevoluGROUP Canada Inc.
Telephone: (604) 332 5355
Facsimile: (604) 687 3119
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This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.