Company Plans to Use Capital Raise to Expand Cuentas
Fintech and Cuentas Mobile Business Divisions.
MIAMI BEACH, Fla., Aug. 31, 2023 /PRNewswire/ -- Cuentas, Inc.
(Nasdaq: CUEN) (Nasdaq:CUENW) ("Cuentas"), the Company that is
creating an alternative financial ecosystem for the underbanked and
underserved segment of the population who do not have access to
traditional financial and lifestyle alternatives, announces the
successful capital raise of over $2
Million from investors to enable its forward-looking
plan to increase revenue and profitability of Cuentas Inc.
Cuentas Management is dedicated to work towards the success of
Cuentas and with this capital raise has provided financial
liquidity to enable advancement of multiple projects. Cuentas has
been investing additional resources into the Fintech and Mobility
platforms and with the availability of additional funds expects to
achieve important milestones during the upcoming months.
Cuentas expects to announce exciting advancements to its new
Cuentas Money Application and financial solutions package in the
near future, and are in discussions to enable lending
capabilities.
"Cuentas successfully closed on the Brooksville property near Tampa, FL for $5.1
Million with majority control," said Cuentas CEO and
Co-Founder, Arik Maimon.
"Management will continue to focus to make all three Cuentas
divisions to be on a secure path for success. I believe that
Cuentas is a unique group in the world to provide essential
services with financial inclusion, mobile services and rental
apartments as solutions for the underserved population. I am proud
that this Cuentas Triple Play is becoming a reality," added
Maimon.
"We are very appreciative to our investors who have shown their
continued support and dedication to the success of Cuentas," said
Cuentas President and Co-Founder, Michael
De Prado. "This investment of over $2
Million specifically was raised to expand the Fintech and
Mobility divisions of Cuentas Inc.", added De Prado.
About Cuentas Inc
Cuentas, Inc. (Nasdaq: CUEN & CUENW) is creating an
alternative financial ecosystem for the growing population who do
not have access to traditional financial alternatives. The
Company's proprietary technologies help to integrate FinTech
(Financial Technology), e-finance and e-commerce services into
solutions that deliver next generation digital financial services
to the under-banked and underserved populations across America and
eventually, the world. The Cuentas Platform integrates Cuentas
Mobile, the Company's Telecommunications solution, with CUENTAS
Money, its core financial services offerings to help entire
communities enter the modern financial marketplace. In Q1 of 2023
Cuentas launched Cuentas Casa, an alternative housing community
development solution based on a revolutionary, patented,
sustainable building system. Management believes adding this
construction technology to its offerings bridges the 'need gap',
providing a first of its kind combination of financial and
lifestyle solutions to the underbanked and underserved, putting the
Company in a unique position to take advantage of what has been
called a Trillion-dollar opportunity .
(LINK: Nasdaq Article)
https://cuentas.com
About CUENTAS Mobile
CUENTAS Mobile is Cuentas' first step in our plan to bring
increasingly powerful and cost-efficient telecommunications
solutions to those that have been unable to acquire or afford them.
With a growing selection of plans and services, delivered on the
nation's largest 5G and 4G LTE network, Cuentas Mobile puts the
power of the network in the palm of your hand.
(LINK: Forbes Mexico)
https://cuentasmobile.com/
About CUENTAS Casa
CUENTAS CASA's unique approach to property development combines
state-of-the-art sustainable building technology with intelligent
property management systems with the goal of developing complete
residential communities in a fraction of the time and at a fraction
of the cost of traditional development. By selectively acquiring
locations near metropolitan areas and immediately working with our
partners to move into the construction phase, CUENTAS is able to
pass on the savings in construction and maintenance directly to the
resident. Management has seen rental prices reduced by as much as
30% over traditional residential communities.
(LINK Forbes Colombia)
About CUENTAS SDI
Cuentas SDI, LLC. is the company that owns the platform of
Black011.com and the network serving over 31,000 convenience stores
("Bodegas") in and around New York
and New Jersey. The Company is managed and controlled by The
OLB Group, Inc. Cuentas Inc., is a shareholder in Cuentas SDI, LLC.
Black011.com is the network that will deliver a range of services
to the network's customers, including digital incentives,
promotions, gift cards, discounts, top up services,
telecommunication services, money transfer solutions and other
digital and physical products and solutions true the network of
financial partners.
https://www.black011.com/
Forward-Looking Statements
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.
Contact Details:
Investor Relations
Cuentas, Inc.
800-611-3622
info@cuentas.com
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