Cuentas Inc Stock Price, News & Analysis

WaveMax Corporation has been selected by TelcoDR to showcase innovative mobile technologies at the Mobile World Congress in Barcelona. They will preview the first-ever WiFi6-5G shared network in New York. WaveMax's SharedFi technology enables a shared network of WiFi access points, allowing targeted location-based advertising without compromising user privacy. Cuentas has agreed to test the service in 170 locations, with plans for up to 1,000 additional stores if successful. Execon will manage the WiFi6 infrastructure in these stores, enhancing customer experiences with promotions and rewards.

Cuentas, Inc. (NASDAQ:CUEN) reported a significant improvement in its Q1 2021 results, primarily driven by a successful $12 million capital raise, yielding net proceeds of $10.6 million. This funding allowed the company to eliminate debts totaling $1.27 million and uplist to Nasdaq. Cuentas saw revenue almost double year-over-year, reaching $225,000, while operating losses decreased to $1.61 million from $2.58 million. With $6.48 million in cash as of March 31, 2021, Cuentas is positioned for robust growth in Q2, focusing on expanding its retail network and launching new services.

Cuentas, Inc. (NASDAQ:CUEN)(NASDAQ:CUENW) has signed a marketing agreement with SDI Black 011, enhancing its distribution of the Cuentas Prepaid Mastercard® and mobile banking services. The partnership will target 1,000 prime locations in the NY, NJ, and CT areas, backed by a $200,000 escrow deposit. SDI, with 31,600 locations, will promote Cuentas to its 1 million subscribers. Additionally, Cuentas has an option to acquire 51% of SDI Black 011 for $1 million within a year, potentially broadening their market reach and services for underserved communities.

Cuentas, Inc. (Nasdaq: CUEN & CUENW) announced that its redesigned mobile app has been approved by both the Apple App Store and Google Play Store. The updated app features a new User Interface (UI) and User Experience (UIX) aimed at enhancing user engagement. It offers various banking features like FDIC-insured accounts, money transfers, and the ability to purchase discounted gift cards. The company plans to expand its offerings to include mainstream gift cards and remittances, targeting the unbanked and underbanked Hispanic and Latino communities.

Cuentas, Inc. (NASDAQ:CUEN, CUENW) has welcomed David B. Schottenstein as an independent board member following its uplisting to NASDAQ. Schottenstein brings a wealth of entrepreneurial experience, having founded and sold several successful businesses, including Privé Revaux, a luxury eyewear brand valued over $100 million. His expertise is expected to enhance Cuentas' strategic direction, particularly in serving the underbanked Hispanic and Latino communities through innovative mobile banking solutions.

Cuentas, Inc. (NasdaqCM:CUEN, CUENW) has successfully closed an upsized public offering of 2,790,697 units at $4.30 per unit, yielding $12.0 million in gross proceeds. This offering included a reverse stock split of 1-for-2.5. Each unit consists of one share of common stock and one warrant, with warrants exercisable at $4.30 for five years. Underwriters have a 45-day option to purchase extra shares and warrants. The company's common stock and warrants began trading separately on February 2, 2021.

Cuentas, Inc. (OTCQB:CUEN) has signed a 5-year exclusive agreement with CITI-SAPI to provide non-contact bill payment services for Mexican Americans. This partnership allows U.S. customers to pay major utilities in Mexico through the Cuentas Mobile App, streamlining the payment process and enhancing convenience. Key utilities include CFE, TelMex, and major cable providers. Additionally, ongoing negotiations aim to integrate cross-border money transfer services. The initiative targets the underserved Hispanic community, improving their access to financial solutions.

Cuentas, Inc. (OTCQB:CUEN) filed its quarterly report for Q2 2020, showcasing the launch of its Mobile App with 1,779 registered accounts. The app leverages online marketing via Facebook and Google Ads. Cuentas plans to introduce international money transfer services in Q1 2021. The company reports a shift towards mobile banking due to COVID-19, highlighting agreements with top industry players. Cuentas offers a prepaid Mastercard with various features, aiming to cater to the underbanked Hispanic population. The report emphasizes growth potential in the digital payment sector.