VANCOUVER, CANADA, Voleo Inc. (“Voleo”, the “Company”), is pleased to announce strong growth in both user activity and trading. Trading activity, in particular, increased by 43% on our social stock-trading platform from December 2018 to January 2019 and has seen impressive month-on-month assets under management (AUM) growth of nearly 12% from a completely organic user base since January 2018, during a period where markets were effectively flat.
Voleo is a fintech company that lets users trade and share investment decisions either as individuals or through investment clubs. Voleo is the first and only investment app to truly combine the online brokerage model with social media. On the Voleo app, users can virtually create and manage an investment portfolio and make trade decisions by majority vote. In addition, the collaborative investment model gives users access to more capital in order to build diversification in their portfolio. Voleo’s wholly-owned broker-dealer US subsidiary is a FINRA member registered with the SEC in the United States. Voleo offers its equity investment platform for white-label to financial institutions both in the US and internationally.
Voleo’s CEO, Thomas Beattie, commented, “Four years of R&D have gone into the development of our iOS and Android apps, and we’re proud to have seen steady user growth since soft-launch in 2017. Currently, we have amassed thousands of users across mobile platforms with a 70% conversion rate on invitations and each club having an average of 9 members and growing. Voleo’s emphasis on teamwork and collaboration has allowed the platform to become an excellent referral engine for building and achieving financial goals amongst social cohorts.”
Voleo’s Marketing Director, Alana Levine, added, “Our solution is completely unique in the market and has identified an opportunity which no other brokerage directly addresses. We’ve validated our product-market fit and confirmed that users want to share financial knowledge in a safe place through their personal networks. When it comes to user engagement, we couldn't have asked for more.”
The nature of Voleo’s capabilities has also sparked the interest of financial institutions globally who risk losing customers and market share to digital-first incumbents. Nicky Senyard, Voleo’s newest board member and former CEO of Income Access (Acquired by Paysafe for $30M US), has been brought on to lead strategic partnerships and business development. According to Nicky, “What originally attracted me to Voleo was the versatility of the platform and its powerful engine. Having established B2B partnerships with banks, we’ve seen that we can help address a real point of pain in the financial services space. This is the starting point for the mainstream adoption of Voleo’s social trading capabilities.
About Voleo Inc.
Voleo is a Canada-based mobile fintech company that is transforming the retail investing space through its powerful, collaborative investing platform. Voleo's equity trading platform operates on native iOS and Android devices, as well as a companion web application. Voleo has increased retail investor participation in the stock market by breaking down barriers to entry, facilitating trust and improving financial literacy. The product is being white-labeled by major financial institutions around the world as an innovative product to engage and retain a new category of investors.
For more information on Voleo, please visit our Investor Relations website at https://ir.myvoleo.com.
Voleo has entered into an agreement, dated January 29, 2018, with Logan Resources Ltd (LGR: TSX-V) with respect to a business combination as more fully described in Logan Resources Ltd’s news release dated January 30, 2018. Further details regarding the timing for the closing of that transaction and the associated financing will be announced when finalized.
ON BEHALF OF THE VOLEO BOARD
Chief Executive Officer
Voleo Inc. is part of the King & Bay group of companies. King & Bay is a merchant bank that specializes in identifying, funding, developing and supporting growth opportunities in the technology, resource, aviation, and sectors.
For further information regarding this press release, please contact:
Thomas Beattie, Chief Executive Officer|
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Investor Relations Website: https://ir.myvoleo.com
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Cautionary Note Regarding Forward-Looking Information
Certain statements contained in this release constitute forward-looking statements and forward-looking information (collectively referred to herein as "forward-looking statements") within the meaning of applicable Canadian securities laws. Such forward-looking statements relate to future events or Voleo Inc’s (the “Company”) future performance and the integration of cryptocurrency trading. All statements other than statements of historical fact may be forward-looking statements. Such forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "budget", "plan", "continue", "estimate", "expect", "forecast", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe" and similar expressions. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Voleo believes the expectations reflected in those forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this release should not be unduly relied upon. These forward-looking statements speak only as of the date of this release, or as of the date specified in the documents incorporated by reference into this release, as the case may be. In particular, this release contains forward-looking statements pertaining, but not limited to: expectations as to future operations of the Company, future market trends, growth opportunities, the Company’s go to market strategy, future partnerships, new initiatives and innovations of the Company, product offerings, the expected operations and performance of the Company’s business, expected user growth, and the timing of key development milestones.
With respect to forward-looking statements contained in this release, the Company has made assumptions regarding, among other thing: the accuracy, reliability and applicability of the Company’s business model; the timely receipt of governmental approvals, including the receipt of approval from regulators in Canada and the United States; the timely commencement of operations by the Company and the success of such operations; the ability of the Company to implement its business plan as intended; the legislative and regulatory environments of the jurisdictions where the Company will carry on business or have operations; the impact of competition; and the availability of financing to execute the business plan. The Company has included the above summary of assumptions and risks related to forward-looking statements provided in this release in order to provide investors with a more complete perspective on the Company’s current and future operations and such information may not be appropriate for other purposes.
Readers are cautioned that the foregoing lists of factors are not exhaustive and it would be unreasonable to rely on any such forward-looking statements and information as creating any legal rights, that the statements and information are not guarantees and may involve known and unknown risks and uncertainties, and that actual results may differ (and may differ materially) and objectives and strategies may differ or change from those expressed or implied in the forward-looking statements or information as a result of various factors. The forward-looking statements contained in this release are expressly qualified by this cautionary statement. Except as required by applicable securities laws, the Company is not under any duty and do not undertake any obligation to publicly update or revise any forward-looking statements after the date of this release or to conform such statements to actual results or to changes in the Company’s expectations and the Company disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise.