CHEYENNE, WY / ACCESSWIRE / November 12, 2020 / Novea, Inc., ("Novea" or "Company") the developer of the proprietary Jacana Warranty App and parent company to Jacana Insurance, is pleased to announce its global expansion in the Canadian marketplace with its strategic partnership with RideWell, Inc.("RideWell"), the leading sports service warranty company in Canada for bicycle enthusiasts.
"This is an excellent opportunity for the cyclists in the North American market to purchase extended warranties on their cycling equipment," stated Chris Pay, President of RideWell, Inc. "Once our Canadian dealers have signed up for the service contract through the Jacana App, RideWell will continue to expand into the United States where there is a similar need for this service through the innovative app offered by Jacana."
Headquartered in Milton, Ontario Canada, RideWell was founded by Christopher Pay, a seasoned corporate executive who is a life-long cycling enthusiast and has been involved in the biking industry as a buyer/seller, rider, racer and coach for more than 20 years. The vision of RideWell was born from Mr. Pay's personal experiences and speaking with multiple bike dealers across Canada where he identified an opportunity by discovering that purchasers of bicycles are looking for the added support and peace-of-mind of a warranty program to protect their investment in cycling products and to ensure the continued high quality of their purchase. As of today, RideWell has greater than 70% market share of the Canadian bike shop market.
Jermaine McDonald, COO of Jacana Warranty stated, "We are proud to partner with RideWell and to be able to provide their customers with our state-of-the-art warranty app for their bicycle and equipment purchases. This is a significant step in expanding our global exposure for sales and marketing for our proprietary Jacana Warranty App. The goal of the agreement is to create independent revenue channels in the ever-expanding service contract industry."
RideWell, Inc is a Canadian based sports service company supplying warranty and protection products supporting retailers through sales, maintenance and servicing throughout Canada with a country network of more than 125 locations. For more information, please visit www.ridewell.cc.
About Novea, Inc.
Novea, Inc.is a financial services technology (FinTech) software company which has launched its proprietary user app, Jacana Warranty fully backed by Jacana Insurance, both wholly owned subsidiaries of Novea, Inc. Jacana Insurance is a captive specialty insurance carrier that offers warranties and service contracts on consumer electronics. Jacana Warranty has put the warranty buying power back into the hands of the consumer with the goal of becoming the consumers' choice. For more information, please visit www.jacanawarranty.com
Certain statements in this press release including, but not limited to, statements related to anticipated commencement of commercial production, targeted pricing and performance goals and statements that otherwise relate to future periods are forward-looking statements. These statements involve risks and uncertainties, which are described in more detail in the Company's periodic reports filed with the SEC, specifically the most recent reports which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. Forward-looking statements are made and based on information available to the Company on the date of this press release. Novea, Inc. assumes no obligation to update the information in this press release.
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SOURCE: Novea, Inc.