MIAMI, FL / ACCESSWIRE / January 4, 2022 / Cuentas, Inc. (NASDAQ: CUEN & CUENW) ("Cuentas"), a leading fintech provider of mobile banking and payment solutions is announcing its 2021-2022 shareholder updates for product, channel, and growth strategies.
In 2021, the company laid out a new, tiered, growth strategy to bring Cuentas to the Latino and Hispanic market as part of its longer-term strategy to scale globally in the coming years.
In February 2021, the company uplisted to Nasdaq in connection with an IPO that led to $12M in investment to the Company, an infusion of capital that enabled the addition of key employee talent, key enhancements to our core product, and upgrades and revisions to the Cuentas App that gives users better access to the financial tools in the wallet.
During 2021, we partnered with Western Union to provide cross border money remittances to over 200 countries worldwide with payments from our Cuentas Mobile App and have diligently proceeded with our API connectivity integration, which will soon be launching to our userbase. This, along with the ability to provide International Bill Pay in 2022, should give Cuentas an important differentiator in the digital Mobile banking and mobile wallet App Space.
In July 2021, the markets validated our momentum when we traded more than 200M shares and PPS was as high as $9.25.
In August, we named Jeffery D. Johnson as CEO of Cuentas to join our founders' vision in taking Cuentas to its next level. Jeff's extensive experience and relationships in the fintech, mobile wallet and Mobile payments areas are already having a huge impact on our growth strategies. Cuentas also added a key independent member to its Board of Directors, Carol Pepper, the CEO of Pepper International, to help guide the Company in its journey into the Cuentas Global Strategy Markets roadmap.
In the second half of 2021, we worked diligently to enhance the operational depth and strength necessary to support a differentiated user experience as well to consolidate data aggregation to tie all our platforms together. As part of this effort, we extended key partner contracts and engaged new marketing and data partners to assist us in lining up our data analytic and market expansion plans for 2022 and beyond.
In the fourth quarter of 2021, we put in motion a marketing concept in one of our targeted geographic areas that will be our blueprint for other areas throughout the U.S., leveraging the knowledge acquired from real-time data mining across numerous marketing channels. To meet certain acquisition strategy plans, we began our transit card rollout in New York with a soft launch in December 2021 and will continue to expand our distribution through our bodega network partners that will become WIFI-6 enabled in prime locations next to public transportation hubs with our current partners and relationships in 2022.
As we accelerate growth in 2022, we are continually evaluating acquisition targets that both increase our userbase and our product deliverable to that base. At the same time, the OMNY Reloadable cards are available in the market and should provide significant advantages to Cuentas users that have been using NY Metro Cards for many years. OMNY is promoted as the new transit alternative that will help consumers and make the Cuentas cards holder very convenient.
"I am very proud and extremely confident that Cuentas built the right Mobile App to serve Latinos and immigrants in the USA and soon in major countries like Mexico and CGG (Gulf Countries)", said Arik Maimon, Co-Founder and Executive Chairman of Cuentas. "From this point we have most of the tools and technology that will make the Cuentas Mobile App, the App that will change people's lifestyles and provide savings to our customers." added Maimon.
Cuentas, Inc. (Nasdaq: CUEN & CUENW) is a fintech e-banking and e-commerce service provider with proprietary technology that delivers digital financial services to the underbanked and un-banked Hispanic and Latino population. Our products and services expand access to mobile and online banking services including prepaid debit, ACH deposits, access to cash via ATM, peer-to-peer, domestic and international money transfers, add cash at more than 70,000 locations. The Cuentas General Purpose Reloadable (GPR) Card includes a digital wallet, discounts for purchases at major physical and online retailers, rewards, and the ability to purchase digital content. Learn more at https://cuentas.com/
This news release contains "forward-looking statements," as that term is defined in section 27a of the United States Securities Act of 1933, as amended, and section 21e of the United States Securities Exchange Act of 1934, as amended. Statements in this press release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations, or intentions regarding the future. Except for the historical information presented herein, matters discussed in this news release contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Statements that are not historical facts, including statements that are preceded by, followed by, or that include such words as "believe," "plan," or "expect" or similar statements are forward-looking statements.
SOURCE: Cuentas, Inc.