CUV Ventures Corp signs DA with Vesilen Investments For Up To 40 million Euros seed capital for Financing Division
VANCOUVER, British Columbia, March 08, 2018 (GLOBE NEWSWIRE) -- CUV Ventures Corp. (TSX-V:CUV) (Frankfurt:IJA2) (OTCBB:MPSFF) (the "Company") is pleased to announce that it has signed a definitive agreement ("DA") with Vesilen Investments for the initial seed funding, for short to medium term loans and factoring platform RevoluFIN, for up to 40 million Euros (approx 63 million CAD). Reveals future plans for RevoluCharge and RevoluVIP.com
RevoluFIN financing platform
The renamed platform is visible in pre-public beta version at www.RevoluFIN.com. CUV Ventures and Vesilen Investments are to launch a proprietary financing platform to facilitate short to medium terms loans and factoring for transactions, both private and international, with an initial capitalization of 40 million Euros (approx 63 million CAD). All seed capital for loans is to be provided by partner Vesilen Investments. The RevoluFIN finance platform intends to provide payment facilities for commercial Letter of Credit (LC) holders, and short term financing requirements. Secondly, the platform will focus upon stimulating the nascent self employed economies around the world, in travel related services, sold through the company's and partner websites, giving entrepreneurs access to much needed capital, while securitizing loans through pre-booking retentions. Through RevoluFIN, CUV Ventures Corp hopes to assemble numerous deals it has identified over the past 12 months, which could directly impact the company's revenues, especially in the; Hospitality, Travel & Media sectors. Additionally, the RevoluFIN platform hopes to enable third party financiers to directly finance outstanding secured receivables while obtaining above market interest returns of between 8 and 9.5%. RevoluFIN should appeal to small and medium-sized enterprises (SMEs) looking for an improved way of working capital financing by selling their outstanding means of payment collection from sales in international markets (typically LC and Secured Drafts) by transferring the credit rights to RevoluFIN and, its financiers. Contrary to traditional invoice finance, RevoluFIN will be fast, flexible and employ transparent contract terms.
Highlights of the Definitive agreement with Vesilen Investments
- Up to 40 million Euros (63 million Canadian dollars) Financing
- Annualized interest to seed investor partners 9.5%
- Approximate annualized commercial loans at 14.5%
- Risk Committee consisting of 6 members to vote on loan approvals
- 3 risk committee members from CUV Ventures
- 3 risk committee members from Vesilen Investments
RevoluFIN potential finance market
The company has identified the initial market to be approximately $3 billion; therefore, the seed capital acquired through this initial definitive agreement is considered to be just the launch proceeds of the platform. The company continues to negotiate similar terms with previously cited; Bhavnani Corp, Al-Fahim and other groups. It also publicly offers capital investors the opportunity to participate, via the RevoluFIN website.
RevoluCHARGE Mobile phone recharges
The company has identified a niche market closely related to the world remittance market. The market is automatic online or app based mobile phone recharges in developing nations, generally enacted by families and friends outside country. This multi-billion dollar market is therefore directly related to Revolupay and should be an integral part of the payment offers from within the app, along with stand-alone future website www.RevoluCHARGE.com and accompanying mobile app. The company is studying various options, including certain entities that provide wholesale white label automated recharges in 248 Countries & 117 currencies, with commissions ranging from 5 to 15% for resellers. CUV Ventures feels that the mobile recharge market is a natural fit for its Revolupay remittance customers.
RevoluVIP Member Only Travel Club
The company plans to launch www.RevoluVIP.com further to it becoming a duly licensed Amadeus GDS (Global Distribution System) travel provider. Amadeus is one of the world's largest providers of wholesale rates to the travel industry, only accessible by duly certified travel professionals.
The current travel industry we know today, in a retail format, is largely an amalgamation of GDS derived travel offers, exposed on third-part retail websites, and subject to individual mark-ups by the web based travel retailers. To launch RevoluVIP, the company intends to work closely with companies associated with management and insiders to deploy a white-label, members only, travel club across over 800 country specific websites, such as CanadaVIP.com, AmericaVIP and, all other websites within the VIP group (see footer). The club will be for members only; services may only be purchased by members using their Revolupay app, with an annual Travel Club membership fee applicable. The three levels of membership will provide varying degrees of discount, diamond being the highest, with close to net rates applicable. Annual membership under Diamond status is projected to be $200 USD, meaning that in a single trip of just $2000, the membership dues would probably be recouped, leading to heavy member savings on all future trips during the remaining annual term. The company's target is 1 million members within 2 years.
About CUV Ventures Corp.:
CUV Ventures Corp. is a multi-asset, multidivisional publicly traded Canadian company deploying advanced technologies in the; Money Remittance, Crypto Mining, Mobile Apps, Online Travel, Vacation Resort, Blockchain Systems, Invoice factoring and Cryptotoken sectors.
Our flagship technology is Revolupay®, the Apple and Android multinational remittance app, powered by blockchain protocols, and aimed at the worldwide + $150 billion family remittance market.
The CU Coin Cryptotoken, allied to Revolupay®, promises to be the coin of choice for remittance senders, travelers and the hospitality industry. Its increasing adoption across several spheres exemplifies its international perspective and future value amongst users.
The company's Fintech division continues to expand into this rapidly emerging segment, in which it; manages, operates and develops end-to-end digital platforms to monetize the blockchain ecosystem across a broad spectrum of leisure related industries, remittances and finance.
A diverse division of the company, named Cuba Ventures, is involved in Caribbean Basin strategic investments. Similar to the United States Nasdaq listed Herzfeld Fund, the focus is to control noteworthy assets related to the Caribbean Basin (including Cuba). The division is comprised of numerous assets. A wholly owned subsidiary Travelucion Media, a duly licensed and bonded online travel company, Amadeus GDS affiliated, digital & print media powerhouse that specializes in travel marketing, electronic reservations and online booking solutions. Travelucion owns a vast portfolio of web assets consisting of 432 Cuba-centric websites in up to 5 languages which generate over 35 million page-views per year and direct traffic to Travelucion's online booking and e-commerce sites and proprietary online booking systems, also customized for white label deployment on third party booking websites for; Cayman Islands, Dominican republic, Aruba, Bahamas, BVI, Belize, Antigua, Jamaica and Cuba, offering bookings for hotels, private residences, car rentals, tours, flights and a variety of other types of specialized travel services as well.
In 2017, the company acquired equity in the Florida, USA based, licensed and bonded Travel Agency; International Business & Travel Opportunities, LLC (IBTO), a Caribbean Basin focused travel facilitator operating trips in the region (including licensed Cuba trips for Americans).
In 2018, the company acquired equity in the Florida, USA based, Third Circle Publishing LLC, publisher of the esteemed and U.S circulated print and digital magazine Cuba Trade Magazine. CUV Ventures Corp now controls important print and digital media assets, reaching 10s of millions of consumers globally.
In 2018, the company acquired equity in the Toronto; Canada based, duly FINTRAC licensed, remittance company Duales Inc. as part of the Revolupay® remittance app partner network.
In 2018, the company acquired equity in the Miami; USA based, Business Advisory/Consultant Think-Tank Havana Consulting Group, as part of the progressive acquisition of key Cuba related but, non domiciled, businesses.
The Cuba Ventures division consulting team harnesses over 80 years of combined advisor experience in submitting and, obtaining approval, for joint ventures, joint production agreements and import/export permits for foreign enterprises. More recently the company has taken a royalty approach for future agreements between third parties anxious to begin comercial operations with Cuba and, the company's Cuba Consulting Unit.
Through this methodology, the Company is gradually building a potentially valuable "future-ready", non Caribbean (Cuba) domiciled asset base while, in the interim, securing revenue, growth and unique opportunities present in the Caribbean Basin, with an emphasis on the $4 billion dollar and rapidly growing Cuban travel and tourism industry, $3 billion factoring and FinTech sector, $18.6 billion Caribbean remittance industry and international corporate consulting for Cuba's $86 Billion annual economy, which remains an interesting opportunity and, one that this division strives to dominate at every opportunity by acquiring assets that are neither physically domiciled nor associated with entities located in Republic of Cuba but, that have unparalleled future takeover prospects, should the political climate improve.
For further information on CUV Ventures Corp. (TSX-V: CUV) visit the Company's website at www.cuvventures.com. The Company has approximately 121,800,00 shares issued and outstanding.
CUV VENTURES CORP.
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This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.