Tenet Signs Credit Lead Generation Agreement with Leading International Alternative Lender eCapital

Rhea-AI Summary

Tenet Fintech Group signs lead generation agreement with eCapital to bring more funding options to Cubeler Business Hub

Positive

• Tenet Fintech Group has signed a lead generation agreement with eCapital, a leading international alternative SME lender.
• The average size of loans facilitated on the Cubeler Business Hub in Canada is about $78,000, with the largest amount awarded being $300,000.
• eCapital has the capacity to lend or grant credit of up to $50,000,000 per client and has already provided over $36 billion in funding to more than 30,000 clients.
• The partnership between Tenet Fintech Group and eCapital has the potential to expand not only in North America but also in other parts of the world.

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• None.

Toronto, Ontario--(Newsfile Corp. - October 19, 2023) - Tenet Fintech Group Inc. (CSE: PKK) (OTC Pink: PKKFF) ("Tenet" or the "Company"), an innovative analytics service provider and operator of the Cubeler® Business Hub, is pleased to announce it has signed a lead generation agreement with leading international alternative SME lender eCapital to bring even greater funding options to Cubeler® Business Hub members.

"The average size of the loans and credit facilitated on the Cubeler® Business Hub in Canada as of the date of today's announcement was about $78,000, with $300,000 as the largest amount awarded on the platform," said Evrard Nkwemi, Director of Financial Institution Relationships at Cubeler. "We have actively been looking to bring more lenders to the platform, such as our Canadian chartered bank partner, with the capacity to make larger loans and extend greater credit amounts to our members in order to increase the average size of credit and attract more medium sized enterprises to the Cubeler® Business Hub. With the capacity to lend or grant credit of up to USD$50,000,000 per client and their commitment to technology, not to mention the fact that they are an international lender, eCapital is exactly the type of lending partner we've been looking for. We couldn't be more excited about today's announcement and look forward to bringing their diversified credit offering to our members," added Mr. Nkwemi.

With a team of over 700 experts in the U.S., Canada and the U.K., and having already provided more than USD$36 billion dollars in funding to more than 30,000 clients operating in over 80 industries, eCapital (https://ecapital.com/en-ca) is one of North America's largest alternative lenders.

"At eCapital we're strong believers that the future of lending is through analytics and innovative technologies," commented Oscar Rombola, Managing Director at eCapital. "We pride ourselves on being leaders of innovation and technology to produce the best possible outcomes for our clients. One look at the Cubeler® Business Hub, and we knew that we had found a partner who shared similar values and our vision of the future of lending to SMEs. We believe this partnership has a great deal of potential, not just in North America but possibly in other parts of the world. So, we look forward to working with Cubeler for the benefit of our mutual interests and the interests of SMEs around the world," concluded Mr. Rombola.

About Tenet Fintech Group Inc.:

Tenet Fintech Group Inc. is the parent company of a group of innovative financial technology (Fintech) and artificial intelligence (AI) companies. All references to Tenet in this news release, unless explicitly specified, includes Tenet and all its subsidiaries. Tenet's subsidiaries provide various analytics and AI-based services to businesses and financial institutions through the Cubeler® Business Hub, a global ecosystem where analytics and AI are used to create opportunities and facilitate B2B transactions among its members. Please visit our website at: https://www.tenetfintech.com/.

For more information, please contact:

Tenet Fintech Group Inc.
Christina Boyd, Director, Investor Relations
416-428-9954
cboyd@tenetfintech.com

CHF Capital Markets
Cathy Hume, CEO
416-868-1079 ext.: 251
cathy@chfir.com

Follow Tenet Fintech Group Inc. on social media:
Twitter: @Tenet_Fintech
Facebook: @Tenet
LinkedIn: Tenet
YouTube: Tenet Fintech

Forward-looking information

Certain statements included in this press release constitute "forward-looking statements" under Canadian securities law, including statements in respect to the future operations and investments of and in the Company and any statements based on management's assessment and assumptions and publicly available information with respect to the Company. By their nature, forward-looking statements involve risks, uncertainties and assumptions. The Company cautions that its plans and assumptions may not materialize and that current economic conditions render such assumptions, although reasonable at the time they were made, subject to greater uncertainty. Forward-looking statements may be identified by the use of terminology such as "believes," "expects," "anticipates," "assumes," "outlook," "plans," "targets", or other similar words. Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and other factors which may cause actual results, performance or achievements of the Company to be materially different from the outlook or any future results, performance or achievements implied by such statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements. Important risk factors that could affect the forward-looking statements in this news release include, but are not limited to, holding company with significant operations in China; general economic and business conditions, including factors impacting the Company's business in China such as pandemics (ex.: COVID-19); legislative and/or regulatory developments; global financial conditions, repatriation of profits or transfer of funds from China to Canada, operations in foreign jurisdictions and possible exposure to corruption, bribery or civil unrest; actions by regulators; uncertainties of investigations, proceedings or other types of claims and litigation; timing and completion of capital programs; liquidity and capital resources, negative operating cash flow and additional funding, dilution from further financing; financial performance and timing of capital; and other risks detailed from time to time in reports filed by the Company with securities regulators in Canada, the United States or other jurisdictions. We refer potential investors to the "Risks and Uncertainties" section of the Company's MD&A. The reader is cautioned to consider these and other risks and uncertainties carefully and not to put undue reliance on forward-looking information.

Forward-looking statements reflect information as of the date on which they are made. The Company assumes no obligation to update or revise forward-looking statements to reflect future events, changes in circumstances, or changes in beliefs, unless required by applicable securities laws. In the event the Company does update any forward-looking statement, no inference should be made that the Company will make additional updates with respect to that statement, related matters, or any other forward-looking statement.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/184528

FAQ

What is the lead generation agreement between Tenet Fintech Group and eCapital?

Tenet Fintech Group has signed a lead generation agreement with eCapital, an international alternative SME lender, to bring more funding options to Cubeler Business Hub members.

What is the average size of loans facilitated on the Cubeler Business Hub in Canada?

The average size of loans facilitated on the Cubeler Business Hub in Canada is about $78,000, with the largest amount awarded being $300,000.

What is the lending capacity of eCapital?

eCapital has the capacity to lend or grant credit of up to $50,000,000 per client.

How much funding has eCapital provided so far?

eCapital has provided over $36 billion in funding to more than 30,000 clients.

Where is eCapital based?

eCapital is based in North America.