TORONTO, Feb. 12, 2019 /CNW/ - Globalive Technology Inc. (TSX-V: LIVE) (the "Company"), a technology company focused on developing innovative payment, billing and credit solutions for consumers and businesses today announced that the Company's partner Flexiti Financial ("Flexiti"), a leading point-of-sale consumer financing solutions provider for retailers, has signed a long-term agreement with EQ3 Ltd. to implement Flexiti's platform. EQ3 is a manufacturer and retailer of custom upholstery, furniture and home accessories with 14 retail locations across Canada and the United States.
"EQ3's mission is to make modern furniture accessible and that extends to the payment plans we offer our customers," said Dennis Liu, Vice President of Finance with EQ3 Ltd. "Flexiti's consumer-focused financing platform complements our commitment to provide a balance in both high-quality crafted home decor and affordability."
Flexiti's mobile, fully automated and 100% paperless process allows customers to apply for a private label credit card usable within the Flexiti network at more than 3,500 retail locations across Canada. This industry-leading solution offers EQ3 a quick and easy way to drive increased sales while making purchases more affordable for customers through flexible payment plans with low interest options.
"We're thrilled to add EQ3 to our rapidly-growing roster of retail partners," said Peter Kalen, Founder and Chief Executive Officer of Flexiti. "We're confident our technology solution will bolster sales and build brand loyalty at EQ3 as it has for so many in our network."
Flexiti and the Company are parties to a technology development agreement and the Company is a shareholder of Flexiti.
"Flexiti continues to demonstrate an ability to consistently bring new customers on board thanks to its innovative consumer financing technology," said Anthony Lacavera, Chief Executive Officer of Globalive Technology. "We believe this creates a powerful network effect that Flexiti can leverage into a dominant position in the retail lending marketplace."
About Globalive Technology Inc.
Globalive Technology is a next generation software company and venture partner developing innovative solutions to disrupt traditional industries by leveraging artificial intelligence and machine learning technology stacks, with a particular focus on delivering innovative payment, billing and credit solutions. Globalive Technology is controlled by Globalive Capital Inc. which has founded and co-founded 12 businesses over the past 20 years with six successful exits ranging from $10M to $1.3B USD. It has also made over 100 venture investments and has over 45 technology companies in its portfolio. For more information, visit www.globalivetech.com.
About Flexiti Financial Inc.
Flexiti has reimagined point-of-sale (POS) consumer financing to drive sales for retailers in-store and online and is one of Canada's leading private label credit card issuers. Through its award-winning platform, Flexiti delivers a POS financing experience across any device that is customer-centric, simple and intuitive. Without the need to integrate into existing POS systems, retail partners can easily offer the same fast and paperless financing solution across all retail locations and sales channels to increase revenue and build loyalty through repeat purchases. Flexiti's joint venture with Globalive Technology demonstrates its commitment to innovation in the payments space through the development of solutions leveraging artificial intelligence. With high approval rates, innovative products and services, flexible promotional offers and a partnership-first approach, Flexiti is helping people improve their lives through better financing. For more information, visit www.flexiti.com.
Founded in 2001, EQ3 is a Canadian-based retailer and manufacturer committed to quality craftsmanship. EQ3 champions original design, domestic manufacturing and promotes a Canadian perspective on home furnishings within a modern environment. EQ3 offers simple, clean, functional furnishings and home accents for every room. Alongside the EQ3 line, EQ3 also offers EQ3+, a designer line featuring iconic brands like Herman Miller, Casper, Marimekko and more. EQ3 has 11 retail locations across Canada, three in the U.S., a large-scale wholesale presence and e-commerce in Canada and the United States.
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CAUTION REGARDING FORWARD-LOOKING INFORMATION
This news release contains forward-looking statements relating to EQ3's use of Flexiti's product to provide services to its customers, Flexiti's product assisting EQ3 in making modern furniture more accessible to its customers, and Flexiti's product bolstering sales and building brand loyalty for EQ3. Such forward-looking statements are identified by terms such as "will" and similar expressions. All statements, other than statements of historical fact included in this release, including those noted above, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from expectations include an inability for EQ3 to integrate Flexiti's product or its customers desire to use such product, other matters that could affect EQ3's ability to further customer service including difficulties or delays in using Flexiti's product.
The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Globalive Technology, Flexiti and EQ3. The can be no guarantee that any of the forward-looking statements contained in this press release will occur as disclosed herein or at all. The reader is cautioned not to place undue reliance on any forward-looking information.
Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will only update or revise publicly the included forward-looking statements as expressly required by Canadian securities law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Globalive Technology