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.
About EQ3
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.
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 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