Fintech
Usewalter Announces Expanded Portfolio of Services and Innovative New Pricing Model for Its Usewalter App
Montreal, Quebec–(Newsfile Corp. – March 9, 2021) – GOLO Mobile Inc., doing business as Usewalter (TSXV: WLTR) (“Usewalter” or the “Company”), a smart building technology SaaS solution for property managers and residents in urban environments, is pleased to announce the expansion of the commercial services available on its usewalter app, along with the launch of an innovative new pricing model for service providers who are featured on the app, further enhancing the experience for residents and property managers alike.
The rise in direct-to-home services over the past several years has been further accelerated by the ongoing COVID-19 pandemic. Many consumers who are subject to continuing lockdowns and unable to physically access goods and services, or who are concerned about exposure to the coronavirus, are increasingly in need of deliveries and in-home services. The Company’s usewalter app offers a secure and convenient solution for residents who wish to conveniently procure products or services from the comfort and safety of their homes at an affordable cost. In addition, the app offers businesses a virtual platform on which to promote their particular product or service offering to a desirable demographic.
“In tandem with the growing number of property managers working with Usewalter to enhance the potential value of their buildings for tenants, we’re also excited to continue expanding the portfolio of value-add service providers and merchant partners who are leveraging the usewalter app to attract new clients and drive repeat customers to their businesses,” said Peter Mazoff, CEO of Usewalter. “We are committed to our goal of usewalter becoming the one app no one can live without, including property managers who benefit from leveraging our unique and premier technology; residents who are afforded control and convenience with a single, centralized tool; and local service providers who are provided a low cost approach to new customer acquisition. Under our new pricing model, we now offer a monthly subscription fee for local service providers to be featured in the app.”
Enhanced Service Offerings
Over the past several quarters, Usewalter has been focused on continuing to enhance the high value-add and ultra-convenient solution offered by its usewalter app, which has included securing and rolling-out new, in-demand services for residents. These efforts offer full-cycle benefit for all parties involved, including residents, property managers, merchants and Usewalter.
In buildings where usewalter is available, occupants are able to benefit from quick and convenient access to a growing and centralized portfolio of product and service offerings through the usewalter app, with the number and variety of offerings continuously expanding. By providing the usewalter app to residents, property managers can position their building as a premium property that features an elevated experience, which helps increase building appeal and enhances asset value. Vendors and merchants featured in the usewalter app realize greater profile for their businesses, reducing the costs of customer acquisition and creating a ‘sticky’ client base. By positioning usewalter as ‘the one app no one can live without’, the Company can extend its reach into new buildings, secure new partnerships and vendor relationships, ultimately enhancing the overall value of its solution. Through active outreach, marketing and ongoing sales initiatives, Usewalter has responded to demands from residents and merchants to increase the variety and selection of services available within the app. Currently included within the usewalter app, or expected to be added shortly, are the following product and services categories:
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New Pricing Model
In concert with the Company’s ongoing expansion of service offerings, Usewalter has also implemented a streamlined monthly subscription pricing model, through which vendors pay a monthly subscription fee to be featured within the app, which supplements the existing option of paying a commission based on transactions. Moving to a monthly subscription model enables the merchants and service providers to lower their costs of customer acquisition while aligning Usewalter with other SaaS-based peers and benefiting from the certainty afforded by a recurring revenue stream.
As usewalter’s rate of usage and adoption continues to increase, the Company believes that the combination of increased service offerings coupled with streamlined payment options will support full-cycle benefit for all parties, while exposing the usewalter app to a new segment of residents, property owners and vendors.
About Usewalter
Usewalter, Inc. (TSXV: WLTR) is a smart building technology SaaS solution for property managers and residents in high-density urban environments, delivered through its usewalter app. Designed as ‘the one app no one can live without’, usewalter enables efficient and cost-effective management of a building across the key areas of communication, commerce and delivery and IoT management within multi-residential and commercial properties. Usewalter is positioned to leverage its first-mover advantage to access new Canadian and U.S. markets, secure additional partners and further build revenue momentum. The Company currently has no debt and significant insider ownership with affiliates of Blackstone Group L.P. and the funds comprising CVC Capital Partners VI. Learn more at www.usewalter.com.
For Further Information:
Peter Mazoff, Chief Executive Officer
(514) 670-1228
ir@usewalter.com
or
Cindy Gray, Investor Relations
(403) 231-4372
info@5qir.com
Forward Looking Information
When used in this news release, the words “will”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Although the Company believes, in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in these forward-looking statements and information in this news release are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. The forward-looking statements and information in this news release include, without limitation: the Company’s ability to execute its aggressive growth strategy to rapidly increase doors, expand geographically and enhance revenue; success being recognized as the app that no one can live without to manage their home and workplace; and growth of the multi-residential real estate sector.
With respect to the forward-looking statements contained in this news release, assumptions have been made regarding, among other things: the Company’s ability to achieve, sustain or increase profitability, and fund its operations with existing capital and/or raise additional capital to fund operations; expenditures by the Company, merchants and customers in the Company’s network; continuing demand for the Company’s services and the pricing of such services; the ability of the Company to market its services successfully to existing and new merchants and customers; the economy generally; competition in the mobile delivery, smart building technology and multi-residential real estate industries; stability of the general regulatory environment in which the Company operates; and the absence of significant disruptions to the Company’s operations such as may result from harsh weather, natural disaster, accident or other calamitous event.
By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the Company may require additional financing from time to time in order to continue its operations and financing may not be available when needed or on terms and conditions acceptable to the Company; there is no certainty that the Company will be able to realize the expected benefits or synergies of the Company’s rebrand; and the other risk factors that are set forth under the heading “Risk Factors” in the Company’s Management Information Circular dated July 23, 2020, which is available on SEDAR at www.sedar.com.
The Company cautions that the foregoing lists of assumptions and risks are not exhaustive. When relying on the Company’s forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing assumptions and risks and other uncertainties and potential events. The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company does not undertake to publicly update or revise the forward-looking information contained in this news release to reflect new events or circumstances, except as required pursuant to applicable laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) is responsible for the adequacy or accuracy of this press release.
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