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.
About Flexiti
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.
For investor inquiries:
Melanie Barbeau
Account Manager, Renmark Financial Communications
InvestorRelations@globalivetech.com
For media inquiries:
Rob
Moysey
Communications Manager, Globalive
Media@globalivetech.com
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