Steve Marshall reports
CUV VENTURES CORP SIGNS DA WITH VESILEN INVESTMENTS FOR UP TO 40 MILLION EUROS SEED CAPITAL FOR FINANCING DIVISION
CUV Ventures Corp. has signed a definitive agreement with Vesilen Investments for the initial seed financing -- for short-to-medium-term loans and factoring platform RevoluFIN -- for up to 40 million euros (approximately $63-million). It has also revealed future plans for RevoluCharge and RevoluVIP.
RevoluFIN financing platform
The renamed platform is visible in prepublic beta version on the RevoluFIN website. CUV Ventures and Vesilen Investments are to launch a proprietary financing platform to facilitate short-to-medium-term loans and factoring for transactions, both private and international, with an initial capitalization of 40 million euros (approximately $63-million). 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 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, which are sold through the company's and partner websites, giving entrepreneurs access to much needed capital, while securitizing loans through prebooking retentions. Through RevoluFIN, CUV Ventures 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 and 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 per cent and 9.5 per cent. 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 letters of credit 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) financing;
Annualized interest of 9.5 per cent to seed investor partners;
Approximate annualized commercial loans at 14.5 per cent;
Risk committee consisting of six members to vote on loan approvals;
Three risk committee members from CUV Ventures;
Three 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 through 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 on-line or app-based mobile phone recharges in developing nations, generally enacted by families and friends outside country. This multibillion-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 RevoluCHARGE and accompanying mobile app. The company is studying various options, including certain entities that provide wholesale white-label automated recharges in 248 countries and 117 currencies, with commissions ranging from 5 per cent to 15 per cent 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 the RevoluVIP website 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 people know today, in a retail format, is largely an amalgamation of GDS-derived travel offers, exposed on third party retail websites and subject to individual markups 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, member-only travel club across over 800 country-specific websites (such as CanadaVIP, AmericaVIP and all other websites within the VIP group). 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 (U.S.), meaning that in a single trip of just $2,000, 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 one million members within two years.
About CUV Ventures Corp.
CUV Ventures is a multiasset, multidivisional publicly traded Canadian company deploying advanced technologies in the money remittance, cryptomining, mobile app, on-line travel, vacation resort, blockchain system, invoice factoring and cryptotoken sectors.
The company's flagship technology is Revolupay, the Apple and Android multinational remittance app, powered by blockchain protocols, and aimed at the worldwide $150-billion-plus family remittance market.
The CCU Coin cryptotoken, allied to Revolupay, promises to be the coin of choice for remittance senders, travellers and the hospitality industry.
The company's fintech (financial technology) 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.
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