TORONTO, April 30, 2019 /CNW/ - Globalive Technology Inc. (TSX-V: LIVE) (the "Company") 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 to leverage its point-of-sale financing technology with JYSK, a fast-growing home furnishings retailer offering products with Scandinavian influence. The agreement follows a successful pilot at select JYSK locations across Canada.
Flexiti's mobile, fully automated and 100% paperless financing solution provides customers with quick and easy access to revolving credit and flexible payment options, including 0% financing. The application takes only a few minutes and grants qualified customers a private label credit card usable within Flexiti's network of nearly 4,000 retail locations across Canada. Flexiti's solution increases affordability and improves the shopping experience for customers both in-store and online.
"Customers don't want to sacrifice comfort and style for affordability when furnishing their home," said Mohammed Mahabub, Chief Financial Officer of JYSK Canada. "Our partnership with Flexiti offers our customers a convenient avenue to bring their perfect designs to life on terms they can more easily manage."
Flexiti's omni-channel financing solution is a proven sales driver with retailers in numerous verticals experiencing a significant rise in financed sales volumes after migrating from previous financing platforms. Flexiti's simple and efficient solution becomes a valuable sales tool for retail staff that increases average purchase sizes, builds brand loyalty and encourages repeat store visits.
"We're proud to be working with a retailer as accomplished as JYSK Canada," said Peter Kalen, Founder and CEO of Flexiti. "We believe our innovative point-of-sale consumer financing technology will support the company's continued growth in the highly-competitive retail marketplace."
Flexiti and the Company are parties to a technology development agreement and the Company is a shareholder of Flexiti.
"Flexiti's impressive growth demonstrates the unique value its technology brings to omni-channel retailers," said Anthony Lacavera, Chief Executive Officer of Globalive Technology. "We believe the powerful network effect the company has developed primes it for 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. 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 JYSK Canada
JYSK is one of the world's fastest-growing home furnishings retailers. With a passion for Scandinavian design, our wide range of furniture and home products are created with Nordic influence and "Scandi style" in mind: minimalism, functionality, striking simplicity and understated elegance. Our aim is to help enhance any living space with a sense of sophistication while offering extraordinarily affordable prices. The first Canadian JYSK store was opened in 1996 in Coquitlam, BC. Today, JYSK operates 62 stores in Canada alone and is continuing to expand. For more information, visit www.jysk.ca.
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 our award-winning platform, we deliver 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. 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.
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CAUTION REGARDING FORWARD-LOOKING INFORMATION
This news release contains forward-looking statements relating to JYSK's use of Flexiti's product to provide services to its customers, Flexiti's product assisting JYSK in eliminating the need for customers to reapply for financing towards future purchases, increasing average purchase sizes, building brand loyalty and driving repeat sales. 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 JYSK to integrate Flexiti's product or its customers desire to use such product, other matters that could affect JYSK'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 JYSK. 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