Sparta Commercial Unveils EZBroker360 at 2024 Startup Summit Hosted by Wedev Group in Brazil

Rhea-AI Summary

Sparta Commercial Services, Inc. (OTC PINK:SRCO) launched EZBroker360, operated by its subsidiary Agoge Global USA, at the 2024 Startup Summit in Florianópolis, Brazil. The event, hosted by Sparta's joint-venture partner Wedev Group Ltda., attracted over 10,000 participants. EZBroker360 aims to revolutionize financial management for Brazilian importers and exporters by combining a Merchant of Record model with comprehensive services, including invoice management, bill of lading, import/export declarations, and staged financing.

The product offers extended payment terms up to 120 days and covers supplier payments, freightage, and associated costs. Already successfully launched with several companies, EZBroker360 is gaining traction rapidly, with a growing waiting list of interested customers. The launch highlights Sparta's expansion into the Brazilian market and its partnership with Wedev Group to foster innovation in global business growth.

Positive

• Launch of innovative product EZBroker360 in the Brazilian market
• Successful implementation with initial companies
• Growing waiting list of interested customers
• Extended payment terms of up to 120 days for Brazilian entities
• Partnership with Wedev Group for market expansion

Negative

• None.

Sparta Commercial made waves at the 2024 Startup Summit in Florianópolis, Brazil, with the official launch of its groundbreaking product, EZBroker360, operated by Agoge Global USA

NEW YORK, NY / ACCESSWIRE / August 27, 2024 / Sparta Commercial Services, Inc. (OTC PINK:SRCO) ("Sparta" or "The Company") announced the official launch of its groundbreaking product, EZBroker360, operated by the Company's subsidiary, Agoge Global USA. The event, hosted by Sparta's joint-venture partner, Wedev Group Ltda., in the heart of Brazil's "Silicon Valley," provided the perfect stage for Sparta to introduce this innovative solution to a diverse audience of startups, investors, and industry leaders.

EZBroker360 is designed to revolutionize the financial management of Brazilian importers and exporters by combining a Merchant of Record model with a comprehensive suite of services. This includes seamless integration of invoice management, bill of lading, and import/export declarations, along with a robust staged financing module. Tony Havens, CEO of Agoge Global USA, expressed his enthusiasm: "We're thrilled with how quickly EZBroker360 is gaining traction. The value it brings to importers and exporters in Brazil is undeniable, and we're excited to see the impact it will continue to have in the market."

The product has already been successfully launched with a few companies that are leveraging this infrastructure to enter the Brazilian market. By covering supplier payments, freightage, and all associated tax and customs clearance costs, EZBroker360 provides Brazilian entities with a more predictable cash flow, allowing them to sell products on extended terms of up to 120 days.

Wedev Group, as the event host, played a crucial role in facilitating discussions and demonstrations of EZBroker360. Eduardo Ribeiro Filho, Founder of Wedev Group, commented on the product's success: "We are incredibly excited about the rapid adoption of EZBroker360. The waiting list of interested customers continues to grow, which speaks volumes about the value we're delivering to both Brazilian and international entities."

The 2024 Startup Summit, held in Florianópolis, attracted more than 10,000 participants, 200 speakers, and 1,000 startups, solidifying the city's reputation as a key hub for technology and innovation in Brazil. As both sponsor and host, Wedev Group's involvement underscored its commitment to fostering innovation and supporting the development of new solutions like Agoge's EZBroker360 that drive global business growth.

About Sparta Commercial Services, Inc.

Sparta Commercial Services, Inc. (www.spartacommercial.com) was founded in 2004 and is the parent company of three subsidiaries in addition to Agoge Global USA, Inc.: iMobile Solutions, Inc., and New World Health Brands, Inc., offering a variety of products and services.

Agoge Global USA, Inc., the newly formed subsidiary of Sparta Commercial Services, Inc. through its Brazilian partnership with Wedev Group Ltda., facilitates the cross-border payments for the Brazilian import/export business.

About WeDev Group Ltda.

WeDev Group Ltda. is a Brazilian innovator focused on the disruption of traditional standards by fostering innovation and growth through new business models capable of transforming the way the world works.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements are valid only as of today, and we disclaim any obligation to update this information. Actual results may differ significantly from management's expectations. These forward-looking statements involve risks and uncertainties that include, among others, risks related to potential future losses, competition, financing and commercial agreements and strategic alliances, seasonality, possible fluctuations in operating results and rate of growth, management of potential growth, system interruption, consumer and industry trends, limited operating history, and government regulation. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by the Company or any other person that the objectives and plans of the Company will be achieved. Further information regarding these and other risks is described from time to time in the Company's filings with the SEC, which are available on its website at: http://www.sec.gov.

Company Contact:

Sandra L. Ahman
Corporate Secretary
Sparta Commercial Services, Inc.
sandy@spartacommercial.com

SOURCE: Sparta Commercial Services, Inc.

View the original press release on accesswire.com

FAQ

What is EZBroker360 and how does it benefit Brazilian importers and exporters?

EZBroker360 is a financial management solution launched by Sparta Commercial (SRCO) that combines a Merchant of Record model with comprehensive services for Brazilian importers and exporters. It offers invoice management, bill of lading, import/export declarations, and staged financing, providing extended payment terms up to 120 days and covering various costs to improve cash flow predictability.

When and where was EZBroker360 officially launched by Sparta Commercial (SRCO)?

EZBroker360 was officially launched by Sparta Commercial (SRCO) at the 2024 Startup Summit held in Florianópolis, Brazil, which attracted over 10,000 participants, 200 speakers, and 1,000 startups.

Who are the key partners involved in the development and launch of EZBroker360?

The key partners involved in the development and launch of EZBroker360 are Sparta Commercial Services, Inc. (SRCO), its subsidiary Agoge Global USA, and Wedev Group Ltda., Sparta's joint-venture partner in Brazil.

What is the current market response to EZBroker360 according to Sparta Commercial (SRCO)?

According to Sparta Commercial (SRCO), EZBroker360 is gaining traction rapidly, with a growing waiting list of interested customers. It has already been successfully launched with several companies leveraging its infrastructure to enter the Brazilian market.