Welcome to our dedicated page for Cuentas news (Ticker: CUENW), a resource for investors and traders seeking the latest updates and insights on Cuentas stock.
CUENTAS INC WTS (CUENW) represents warrants on Cuentas, Inc., a Florida-incorporated company that combines financial technology, mobile telecommunications, digital content and housing-related initiatives. News about CUEN and CUENW often centers on how the company is developing its alternative financial ecosystem for unbanked, under-banked and underserved communities in the United States, particularly within the Hispanic demographic.
Investors following CUENW news can expect updates on Cuentas’ fintech platform, including its General Purpose Reloadable card with a digital wallet, retailer discounts, rewards and digital content purchasing capabilities. Coverage also includes developments in Cuentas Mobile, the company’s mobile telecommunications solution that uses eSIM and traditional SIM technology and is supported by a broad distribution network of retail outlets and bodegas.
Another important category of news involves Cuentas’ strategic partnerships and joint ventures. The company has announced collaborations with World Mobile Group Ltd to deliver localized networks, roaming services and mobile solutions, and has disclosed a joint venture, World Mobile Media Group LLC, intended to operate an internet-delivered over-the-top media and digital content platform under the World Mobile Media or WMM brand. These items can influence how market participants view the growth prospects associated with CUENW.
News flow also covers Cuentas Casa and related real estate activities, such as investments in affordable housing projects in Florida and transactions involving properties that the company has used to unlock liquidity for its fintech and mobile operations. Regulatory and reporting milestones, including statements about being current with SEC filings and trading on the Pink Limited Market, are additional themes that may appear in CUEN and CUENW headlines. For a fuller picture of the warrants, readers often track this blend of financial, operational, partnership and regulatory news.
Cuentas, Inc. (NASDAQ: CUEN & CUENW) announced a $3 million private placement agreement with an institutional investor to purchase 4,224,044 shares of common stock and warrants at $0.71022 per share. The warrants have an exercise price of $0.59 and will be exercisable immediately, expiring in five and a half years. Net proceeds will be used for general working capital and marketing. The offering will close on or about August 8, 2022, subject to customary conditions. The securities are part of a non-public offering and will require a registration statement for resale.
Cuentas, Inc. (NASDAQ:CUEN)(NASDAQ:CUENW) reported significant advancements in its recent shareholder update. The company achieved its largest revenue growth in e-commerce history for Q2, attributed to acquiring a 20% stake in SDI Black 011. Additionally, Cuentas is in final negotiations with a Texas bank to launch a secured credit card through its mobile app, aiming to aid underbanked consumers. Furthermore, a partnership for merchant services will extend its retail network to 31,000 bodegas, enhancing distribution. These developments are expected to boost Q3 growth and overall market presence.
Cuentas, Inc. (NASDAQ:CUEN, CUENW) announced that co-founder and Executive Chairman, Shalom Arik Maimon, purchased 32,850 shares of CUEN on the open market, reflecting his confidence in the company's future. Maimon stated that he believes the shares are undervalued and highlighted the company's role in providing essential financial services amidst economic challenges. Cuentas focuses on offering digital financial solutions to underserved populations, including prepaid debit cards, remittance services, and digital wallets.
Cuentas, Inc. (NASDAQ:CUEN, CUENW) announced on June 15, 2022, that it has regained compliance with Nasdaq listing rules following the appointment of two independent board members, Sandra Orihuela and Sara Sooy. Orihuela will serve on the compensation committee, while Sooy will join the audit committee. This strategic move enhances Cuentas' governance and potentially strengthens its market position. The company specializes in delivering digital financial services to underserved Hispanic and Latino populations, offering solutions like mobile financial apps and prepaid debit cards.
Cuentas, Inc. (NASDAQ:CUEN, CUENW) reported a record increase in account registrations in May 2022, with new user acquisitions surpassing first-quarter totals by 172%. This growth is attributed to targeted marketing initiatives and promotional campaigns that enhanced brand awareness among key demographics, particularly the underbanked Hispanic community. CEO Jeff Johnson noted strong adoption of money-saving app features, including fee-free money transfers. The company aims to maintain momentum with ongoing engagement strategies to boost transaction volume and feature utilization.
Cuentas, Inc. (NASDAQ:CUEN & CUENW) has successfully acquired 19.99% of Cuentas SDI LLC, owner of the SDI Black011 assets, for $750,000. This acquisition allows Cuentas an option to purchase the remaining 80.01% for $2.46 million within 90 days. The deal grants Cuentas a 40% revenue share from Cuentas SDI during this period, decreasing to 20% afterward. The SDI assets produced $8.2 million in revenue in 2021, facilitating Cuentas' growth strategy in fintech solutions and expanding its market reach.
Cuentas has announced the appointment of Sandra Orihuela and Sara Sooy to its Board of Directors, bringing the total number to nine members. Orihuela will serve on the compensation committee, while Sooy will join the audit committee. Cuentas emphasizes that their diverse expertise will bolster the company's strategic objectives through 2022 and beyond. Sooy has a background in public service and commercial real estate, whereas Orihuela specializes in cross-border transactions and compliance. These appointments are expected to enhance Cuentas' leadership.
Cuentas, Inc. (Nasdaq: CUEN & CUENW) reported a 40% year-over-year revenue growth in its Q1 2022 financial results, totaling $394,000 compared to $225,000 in Q1 2021. The company’s total assets decreased to $9.6 million from $12.2 million while total liabilities rose to $3.3 million from $2.8 million. Driven by e-commerce services at retail locations, growth is expected to accelerate with the acquisition of SDI's Black011.com portal. Cuentas aims to enhance its services for the Hispanic market by partnering with major companies like Western Union and Incomm.
Cuentas (NASDAQ:CUEN & CUENW) has finalized a second amendment to acquire Black011.com, enhancing its distribution network to over 31,600 bodegas and convenience stores. The planned closing date is May 20, 2022, with penalties for non-closure. The acquisition aims to expand Cuentas' digital services, including its prepaid debit card and digital wallet, through a B2B platform that generates real-time profits for retailers. This move is expected to strengthen Cuentas' position in the prepaid market, leveraging Black011's large subscriber base and extensive retail network.
Cuentas is set to enhance its mobile app, allowing US cardholders to pay bills directly to over 30 service providers in Mexico, including utilities and telecoms. With payments processed in USD, transfers will reflect in Mexico within 48 hours. For a fee of $3.00 per transaction, customers can simplify their remittance process, avoiding cash collection at retail locations. This initiative follows the recent integration of Western Union's money transfer services, expanding Cuentas' offerings in the digital finance space for Hispanic and Latino communities.