VANCOUVER, CANADA, Voleo Trading Systems Inc. (TRAD: TSX-V) (“Voleo”, the “Company”), has completed the 2019 Fidelity National Information Services (“FIS”) Fintech Accelerator Program in Little Rock, Arkansas.
As one of the ten selected start-up companies, Voleo benefitted from a 12-week on-site mentorship program at The Venture Center. Through in-depth business support and guidance, Voleo’s management team met with dozens of financial institutions and senior executives and gained significant exposure to their target market. Voleo was the only Canadian fintech company selected from over 225 applicants across 32 countries.
Thomas Beattie, CEO of Voleo, commented “As a Canadian company, the opportunity to work with FIS has allowed us to jump a lot of the hurdles of connecting with US financial institutions. From the start, we knew that FIS Accelerator would connect us to the right people at the right organizations, looking for innovative solutions in financial technology. We’ve met with dozens of banks and credit unions, and gained invaluable insight into the pain points of their businesses.”
Throughout the 12-weeks, Voleo held face-to-face meetings with community banks and credit unions to discuss and develop the potential applications of their turn-key social investing product. The program culminated on July 17th with a demo day where Voleo completed a 7-minute presentation to an engaged audience of financial institution decision makers, potential investors, and community leaders. Voleo will continue to build upon these relationships in the coming weeks and months.
Morgen Sullivan, VP Growth of Voleo stated that “By focusing on accelerating the positioning and placement of our innovative platform, the support and mentorship from both FIS and the Venture Center was top of class. We are proud to be a part of this years’ cohort, have grown our network substantially and are looking forward to sharing our insights and growth.”
FIS is a global leader in financial services and technology, working with over 20,000 clients across 130 countries. FIS’ technology connects financial organizations with their customers and powers 27 billion transactions annually, moving over $9 trillion globally each year. The Venture Center has also become a major name in the fintech industry by providing entrepreneurs and start-up corporations with the innovative programs needed to connect with financial institutions and investors on the path to sustain economic growth.
FIS is investing over $100,000 (US$75,000) into Voleo across three equal tranches at a price equivalent to the RTO price of $0.25 per share. This investment is complemented by personal access to FIS’s senior executives. The Venture Center is dedicated to developing the financial innovations of the program participants and proactively supporting dialogues between the cohort and financial institutions. In the short time the FIS Accelerator Program has been established, the average capital raise of a portfolio company is over $1.8 million. For its fourth year, FIS and The Venture Center evaluated all applicants on start-up viability, product maturity and market fit, indicating the significant potential of the top ten selected participating companies.
Hybrid Financial Strategic Investor Relations
Voleo announces that it has retained the services of Hybrid Financial Inc. ("Hybrid Financial") for strategic investor relations initiatives. The initiatives will include marketing, distribution, and branding services for the Company with a specific focus on elevating the Company's profile within the North American investment community.
Pursuant to the agreement Hybrid Financial will receive a monthly retainer of $25,000. The agreement commenced July 25, 2019, for an initial term of six months. Voleo has sufficient cash on hand to pay the monthly fee. The agreement is subject to the approval of the TSX Venture Exchange.
Hybrid is a sales and distribution company that actively connects issuers to the investment community across North America. Using a data driven approach, Hybrid provides its clients with comprehensive coverage of both American and Canadian markets. Hybrid Financial has offices in Toronto and Montreal.
Hybrid Financial Inc. does not have any interest, directly or indirectly, in Voleo or its securities
Voleo has granted Kin Communications Inc. 100,000 stock options at an exercise price of $0.25. The options will be exercisable until May 31, 2024 and in accordance with TSX Venture Exchange Policies, will vest in equal quarterly installments commencing on the three-month anniversary of the grant date.
About Voleo Trading Systems Inc.
Voleo is a mobile fintech company that is transforming the retail investing space through its powerful, collaborative investing platform. Voleo's equity trading platform operates on native iOS and Android devices, as well as a companion web application. Voleo has increased retail investor participation in the stock market by breaking down barriers to entry, facilitating trust and improving financial literacy. The product is being white-labeled by major financial institutions around the world as an innovative product to engage, retain and acquire retail customers.
FIS is a global leader in financial services technology, with a focus on retail and institutional banking, payments, asset and wealth management, risk and compliance, and outsourcing solutions. Through the depth and breadth of its solutions portfolio, global capabilities and domain expertise, FIS serves more than 20,000 clients in over 130 countries. Headquartered in Jacksonville, Fla., FIS employs more than 53,000 people worldwide and holds leadership positions in payment processing, financial software and banking solutions. Providing software, services and outsourcing of the technology that empowers the financial world, FIS is a Fortune 500 company and is a member of Standard & Poor’s 500® Index. For more information about FIS, visit www.fisglobal.com.
About The Venture Center
The Venture Center’s immersive accelerator programs are designed to accelerate the growth of early-stage companies and help them validate their solutions for real-world problems. The Company’s methodology provides a unique opportunity to connect with C-level suite global executives, receive seed investment and learn from a comprehensive curriculum that will aid in strategically addressing go-to-market, business, and finance challenges.
ON BEHALF OF THE VOLEO BOARD
Chief Executive Officer
|Voleo is part of the King & Bay group of companies. King & Bay is a merchant bank that specializes in identifying, funding, developing and supporting growth opportunities in the technology, resource, aviation, and sectors.|
For further information regarding this press release, please contact:
Investor Relations Contact:
KIN Communications Inc.
Caleb Jeffries, VP, Investor Relations
Cautionary Note Regarding Forward-Looking Information
Certain statements contained in this release constitute forward-looking statements and forward-looking information (collectively referred to herein as "forward-looking statements") within the meaning of applicable Canadian securities laws. Such forward-looking statements relate to future events or Voleo Trading Systems Inc’s (the “Company”) future performance and the integration of cryptocurrency trading. All statements other than statements of historical fact may be forward-looking statements. Such forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "budget", "plan", "continue", "estimate", "expect", "forecast", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe" and similar expressions. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Voleo believes the expectations reflected in those forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this release should not be unduly relied upon. These forward-looking statements speak only as of the date of this release, or as of the date specified in the documents incorporated by reference into this release, as the case may be. In particular, this release contains forward-looking statements pertaining, but not limited to: expectations as to future operations of the Company, future market trends, growth opportunities, the Company’s go to market strategy, future partnerships, new initiatives and innovations of the Company, product offerings, the expected operations and performance of the Company’s business, expected user growth, and the timing of key development milestones.
With respect to forward-looking statements contained in this release, the Company has made assumptions regarding, among other thing: the accuracy, reliability and applicability of the Company’s business model; the timely receipt of governmental approvals, including the receipt of approval from regulators in Canada and the United States; the timely commencement of operations by the Company and the success of such operations; the ability of the Company to implement its business plan as intended; the legislative and regulatory environments of the jurisdictions where the Company will carry on business or have operations; the impact of competition; and the availability of financing to execute the business plan. The Company has included the above summary of assumptions and risks related to forward-looking statements provided in this release in order to provide investors with a more complete perspective on the Company’s current and future operations and such information may not be appropriate for other purposes.
Readers are cautioned that the foregoing lists of factors are not exhaustive and it would be unreasonable to rely on any such forward-looking statements and information as creating any legal rights, that the statements and information are not guarantees and may involve known and unknown risks and uncertainties, and that actual results may differ (and may differ materially) and objectives and strategies may differ or change from those expressed or implied in the forward-looking statements or information as a result of various factors. The forward-looking statements contained in this release are expressly qualified by this cautionary statement. Except as required by applicable securities laws, the Company is not under any duty and do not undertake any obligation to publicly update or revise any forward-looking statements after the date of this release or to conform such statements to actual results or to changes in the Company’s expectations and the Company disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.