Vancouver, BC – CUV Ventures Corp. (TSX-V: CUV) (Berlin: A2JE7L) (the "Company") is pleased to announce that it has formally launched the RevoluFIN factoring and lending platform. The company is very encouraged with the initial interest in the platform, having done very minimal marketing.
RevoluFIN financing platform
The lending platform www.RevoluFIN.com had been active in public beta form since March 8th and has, thus far, garnered interest from 5 separate international entities seeking factoring loans. Several potential lenders have also contacted the company through the website and, are communicating with management. The RevoluFIN proprietary financing platform facilitates short to medium terms loans and factoring for commercial transactions, to both private and corporate businesses, chiefly in the travel and leisure sectors. RevoluFIN obtained its initial seed capital guarantee of up to 40 million Euros (approx 63 million CAD) on the 12th of March from Vesilen Investments. The RevoluFIN finance platform provides payment facilities for commercial Letter of Credit (LC) holders, and secured short term financing requirements. Further, the platform focuses upon stimulating the nascent self employed economies around the world, including travel related services, sold through the company's proprietary and partner websites, giving these entrepreneurs access to much needed capital, while securitizing loans through pre-booking retentions associated with future paid travel service reservations. RevoluFIN has already received multiple requests for loans and, is in the process of studying these opportunities. The company expects to obtain, on average, a 5% gross profit on loans.
CUV Ventures Corp partner Tyrval, a major worldwide supplier to the hospitality industry, has also begun submitting numerous factoring requests, for orders from numerous hotel chains. All loans, linked to Tyrval, hold the secondary advantage of an extra 6% royalty on all sales, over and above the loan interest, as per the exclusive commercial agreement announced on the 22nd March 2017.
Highlights of the RevoluFIN Platform
- Up to 40 million Euros (63 million Canadian dollars) available for financing
- Annualized interest to seed capital investor partners 8-9.5%
- Approximate annualized commercial loans at 13-14.5%
- Numerous loan requests received and being studied by the risk committee
- New seed capital investor interest received
- Active website generating significant early interest
- Worldwide marketing via proprietary, equity partners and third parties
- Significant competitive advantage for the company's travel division partners
Reminder - Upcoming Conference Call on March 29th
CUV Ventures will be holding an investors conference call on Thursday, March 29th at 1 pm PST (4 pm EST). The Company's CEO, Steve Marshall will be discussing; RevoluPAY®'s launch, RevoluVIP Members only Travel Club, the recently funded RevoluFIN lending platform, the growth of the company's travel division, recent acquisitions and, other points pertaining to the company's expanding horizon. All investors are invited to dial in to the conference call at: 1-888-390-0598 and the following guest code: 5572372.
About CUV Ventures Corp.:
CUV Ventures Corp. is a multi-asset, multidivisional publicly traded Canadian company deploying advanced technologies in the; Online Travel, Vacation Resort, Mobile Apps, Money Remittance, Invoice factoring, Crypto Mining, Blockchain Systems, and Cryptotoken sectors.
Our flagship technology is RevoluPAY®, the Apple and Android multinational remittance app, powered by blockchain protocols, and aimed at the worldwide + $595 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, is a duly licensed and bonded online travel company, Amadeus GDS affiliated, digital and 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.
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 owns an interest in some important print and digital media assets, reaching 10s of millions of consumers globally.
In 2018, the company acquired equity in the Toronto; Canada based, 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 estimated $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 123,000,000 shares issued and outstanding.
CUV VENTURES CORP.
For further information contact myself or:
CUV Ventures Corp.
Toll Free: 800-567-8181
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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.