RE:RE:Well… we had news Phoenix, Arizona--(Newsfile Corp. - May 9, 2022) - The Stock Day Podcast welcomed RevoluGROUP Canada Inc. (TSXV: REVO), (FSE: IJA2) ("the Company"), RevoluGROUP Canada Inc is a multi-vertical Fintech Neobank generating revenue via its RevoluPAY mobile EU PSD2, FINTRAC & USA MSB II licensed open-banking app & Visa Card. RevoluSEND Remittances & Forex, RevoluEX Crypto Exchange, RevoluCHARGE pay-as-you-go top-up, RevolUTILITY Virtual Store, RevoluREALTY real-estate, REVOLUEGAME gaming, RevoluPOS Global mobile POS, RevoluFIN Loans & Lending, RevoluVIP members only net rate Travel Club +120 countries, and more. 5 subsidiaries on 4 continents. CEO of the Company, Steve Marshall, joined Stock Day host Everett Jolly.
Jolly began the interview by asking about the Company's background and current projects. "RevoluGROUP is essentially a neobank, which is a modern version of current high-street banks," explained Marshall. "We have financial licenses from 27 countries in Europe" he added, noting the Company's additional licenses in USA and Canada. "We have a mobile app, RevoluPAY®, and that is associated with a Visa card, as well as a bank account on your phone, which is associated with a series of revenue verticals."
Jolly then commented on the Company's impressive profit margins, and asked whether or not these numbers are typical within the fintech industry. "In 2020 and 2021, we obtained the three financial licenses that we needed to be able to carry out this particular business," said Marshall. "We then proceeded to the monetization phase," he added. "This type of financial technology that we have launched is entirely automated with almost no human intervention whatsoever," shared Marshall. "Human intervention is costly, and that then translates to these tremendous profit margins."
"Who uses your platform?", asked Jolly. "Since you can download it for Apple and Android devices, it can be used anywhere in the world," said Marshall. "The people who tend to use it are those that are seeking alternative banking services," he explained, adding that there are currently millions of people around the world who are currently unbanked. "It's a simple method for banking."
"What do you expect in terms of monetization from the Company's sixfold increase in users?", asked Jolly. "With 30,000 users, which we have obtained solely in the month of March, we have a sixfold increase in users," said Marshall. "For the first quarter of 2022, which begins on the first of June, we do expect and we hope to either break even or be at a reasonable profit, which is very rare for a fintech company."
"How does your company intend to meet these crypto regulations to assist digital currency exchanges?", asked Jolly. "We have had to delay the launch of our Huobi and Dsdaq white labels because of the new interest in regulators to do this," shared Marshall. "As soon as the European Union introduced the guidelines for entities like us to receive approval, we applied in December for the new licensing," he explained. "Now, it is simply a waiting game," he added. "This means that we could possibly be one of the first payment institutions in Europe to be approved for bilateral crypto trading, and the ramifications of this are quite important."
To close the interview, Marshall shared that the Company expects to reach the break even or profit status for the first quarter of 2022, and elaborated on the Company's exciting catalysts over the next two to three quarters. He also encouraged listeners and shareholders to keep up-to-date on the Company's updates and current projects as they continue to expand their services and look forward to upcoming launches.