Fintech
Contakt World Announces Acquisition of HealthCheck, a SaaS Health Screening App for Students, Customers, Employees, and Visitors
Contakt World closes acquisition, with over 1,000+ paying customers including Atlanta County Public Schools
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HealthCheck delivers a powerful health screening tool to assess Covid-19 symptoms quickly and easily via the HealthCheck app
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HealthCheck is cash flow-positive, with US$1.23m1 in revenue for trailing 12 months
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App reflects a valuable addition to Contakt World’s (CSE: HELP) SaaS portfolio, a potential vehicle for integrating vaccine passports, and a system to fight future health threats beyond Covid-19
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HealthCheck app is another potential tool to collect de-identified data surrounding Covid-19 for Health Equity Tracker
Vancouver, British Columbia–(Newsfile Corp. – August 12, 2021) – Contakt World Technologies Corp. (CSE: HELP) (OTC: TLOOF) (FSE: B2I0) (the “Company” or “Contakt World”), a SaaS company committed to improving health equity and disease management while solving sector specific business challenges, today announced it has acquired (the “Acquisition”) Stratum Health Solutions, LLC (“Stratum”), which operates HealthCheck by Stratum™ (“HealthCheck”), an encrypted wellness tracking and analytics tool with 1,000+ current customers. Contakt World acquired Stratum from RTAE Holdings LLC (“RTAE”).
HealthCheck is a secure, cloud-based platform that allows organizations of all sizes to track and evaluate employee and student health and Covid-19 related symptoms in real-time through an app. Following strict data privacy laws, HealthCheck’s intuitive digital portal enables users to participate in a health self-assessment based on CDC guidelines, where they answer a series of health-based questions at any point in the day, better preparing for current Covid-19 and future health outbreaks while protecting the overall health of the organization against Covid-19 and other threats.
HealthCheck is used by a variety of customers including schools, hospitals, fire stations, financial institutions, and small businesses. HealthCheck has 1,000+ customers, including over 50,000 users within Atlanta Public Schools across 91 learning sites. Contakt World hopes to rapidly scale the consumption of HealthCheck services through its partner network, including the National Association of County and City Health Officials and Satcher Health Leadership Institute, Morehouse School of Medicine.
HealthCheck generated US$1.23M in revenue over the last 12 months with US$0.44M in net income during the same period2. A 20% increase in revenue was observed between the last 6 months and the previous 6-month period.
“With HealthCheck’s daily health check-ins, when people show symptoms for Covid-19, the participating organization immediately receives alerts and access to their user’s unique health dashboard,” said Justin Beck, Chief Visionary Officer of Contakt World. “The technology is a valuable addition to our product and service portfolio, anchored by Smart Health RM. We believe HealthCheck will serve as an excellent sales channel for Contakt World’s other solutions, given HealthCheck’s existing 1,000+ customers, and the app provides a potential avenue for Contakt World to incorporate vaccine passports in our product suite.”
“With schools opening again and the delta variant making clear that we may face Covid-19 and viruses like the flu for the foreseeable future, it’s clear that organizations of all sizes will need ways to conduct symptoms checks, testing, waivers and more to reduce risks. We view HealthCheck as a way to solve the most pressing public health challenge of today in Covid-19, and to prepare for unpredictable threats tomorrow might bring,” concluded Beck.
Ryan Trimberger, Stratum Co-Founder and Chief Executive Officer added, “Contakt World’s global technology platform attracted us as an ideal venue to offer HealthCheck. We were led to create HealthCheck in response to the global Covid-19 pandemic and the urgent need for organizations to make informed safety and operational decisions to keep people healthy, leveraging our expertise in cloud-based technology. Through this acquisition, we’re now shareholders in Contakt World, and believe their team is well positioned to leverage and scale HealthCheck to global prominence through their relationships in public health and healthcare.”
Transaction Terms
In connection with the Acquisition, Contakt World issued to RTAE (i) 3,523,933 Class A Subordinate Voting Shares (each, a “Contakt Share“), for deemed consideration of $1.325M USD at a deemed issue price of C$0.47 CAD per Contakt Share and (ii) a convertible note (the “Note“) for $4.155M USD. The Note bears interest at 3.5% and is convertible at the Company’s or RTAE’s option after 6-months into Contakt Shares at a conversion price equal to a 20% discount to the 20-day volume-weighted average closing price of the Contakt Shares, subject to a minimum conversion price of C$0.65 CAD. Assuming conversion, RTAE can only liquidate up to 1/6 the value of the Note in each 30-day period. The Note is secured against the membership interests of Stratum and the source code for HealthCheck now held by Contakt World. Pursuant to the Acquisition, RTAE is also eligible to receive earn-out payments at 12 months and 24 months, respectively, according to certain revenue milestones set forth in the agreement respecting the Acquisition. Objective, Investment Banking & Valuation served as the buy-side M&A advisor to Contakt throughout this transaction.
About Contakt World
Contakt World (CSE: HELP) is a technology company developing and delivering SaaS solutions for the public and private sectors. The company integrates data collection and management, communications, advertising, and IOT devices – providing customers with a scalable ecosystem that makes sense of people, place, time, and space for the emerging “phygital” (blending physical and digital) world. Contakt World is committed to improving health equity and disease management while solving sector-specific business challenges. For more information, please visit https://contakt.world/.
About Stratum Technology
Prior to its acquisition by Contakt World, HealthCheck was a subsidiary of Stratum Technology. Stratum Technology is a trusted advisor and operator to enterprise leaders across the Fortune 500, Private Equity, Venture Capital and Public Sectors. Its team is focused on providing white glove service across the entire cloud journey for GCP, AWS, Azure and Hybrid environments, specializing in Cloud advisory, services and support across Microsoft Azure, Amazon Web Services and Google Cloud platforms. A technology thought leader across several industries, Stratum helps its customers meet the business, financial and technical challenges associated with Cloud and Digital Transformation effort. For more information, visit www.stratumtechnology.com.
Contakt World Contact
Zayn Kalyn
Interim CEO and Director
Direct: 778-938-3367
Investor Contact
Lucas A. Zimmerman
Director – MZ North America
Direct: 949-259-4987
[email protected]
www.mzgroup.us
The CSE has not reviewed, approved or disapproved the content of this news release.
Forward Looking Statements Disclaimer
This press release contains “forward-looking information” within the meaning of applicable securities laws (“forward-looking statements”), including, but not limited to, statements with respect to the future prospects of Contakt World. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “projects”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward-looking statements, including statements respecting: HealthCheck’s integration into Contakt World’s offerings, business plan and growth strategy; HealthChecks’s prospects as a platform and service; Contakt World’s ability to scale and sell HealthCheck; and Contakt World’s ability to leverage HealthCheck going forward. Although forward-looking statements contained in this press release are based upon what management of Contakt World believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The forward-looking statements may also be affected by risks and uncertainties in the business of Contakt World, including those described in the Company’s public filings available on www.SEDAR.com. Contakt World undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.
The Canadian Securities Exchange (CSE) has not reviewed, approved or disapproved the content of this news release.
1 Based on management prepared (unaudited) financial information.
2 Based on management prepared (unaudited) financial information.
Fintech
Fintech Pulse: Daily Industry Brief – A Dive into Today’s Emerging Trends and Innovations
The fintech landscape continues to redefine itself, driven by innovation, partnerships, and groundbreaking strategies. Today’s roundup focuses on the latest digital wallet offerings, evolving payment trends, strategic collaborations, and notable funding achievements. This editorial explores the broader implications of these developments, casting light on how they shape the future of fintech and beyond.
Beacon’s Digital Wallet for Immigrants: A Gateway to Financial Inclusion
Beacon Financial, a leading player in financial technology, recently launched a digital wallet tailored to meet the unique needs of immigrants moving to Canada. This offering bridges a critical gap, enabling seamless financial integration for newcomers navigating a foreign system.
By combining intuitive technology with user-centric features, Beacon aims to empower immigrants with tools for payments, savings, and remittances. This aligns with the growing demand for tailored financial products that resonate with specific demographics.
Op-Ed Insight:
Financial inclusion is more than just a buzzword; it’s a moral imperative in the fintech space. Products like Beacon’s digital wallet highlight the industry’s potential to create tangible change. As global migration trends increase, such offerings could inspire similar initiatives worldwide.
Source: Fintech Futures.
Juniper Research Highlights 2025’s Payment Trends
Juniper Research’s latest report unveils pivotal payment trends poised to dominate in 2025. Central themes include the adoption of instant payment networks, a surge in embedded finance solutions, and the rise of crypto-backed financial products.
The research underscores the rapid adoption of real-time payment systems, fueled by increasing consumer demand for speed and efficiency. Meanwhile, embedded finance promises to blur the lines between traditional banking and non-financial services, delivering personalized and context-specific solutions.
Op-Ed Insight:
As the lines between financial services and technology continue to blur, these trends emphasize the industry’s shift toward convenience and personalization. The growing role of crypto-based solutions reflects an evolving consumer mindset, where decentralization and digital-first experiences gain precedence.
Source: Juniper Research.
MeaWallet and Integrated Finance Partner to Revolutionize Digital Wallets
MeaWallet, a prominent fintech solutions provider, has partnered with Integrated Finance to advance digital wallet capabilities and secure card data access for fintech companies. This collaboration focuses on empowering fintechs to deliver better, safer digital payment experiences.
MeaWallet’s role as a technology enabler aligns seamlessly with Integrated Finance’s goal of simplifying complex financial infrastructures. Together, they aim to create scalable, robust platforms for secure payment solutions.
Op-Ed Insight:
Partnerships like this underscore the importance of collaboration in driving innovation. As security concerns grow in tandem with digital payment adoption, solutions addressing these challenges are essential for maintaining consumer trust. The fintech ecosystem thrives when synergy and innovation coalesce.
Source: MeaWallet News.
Nucleus Security Among Deloitte’s Fastest-Growing Companies
Nucleus Security has achieved a remarkable milestone, ranking 85th on Deloitte’s 2024 Technology Fast 500 list. This achievement is attributed to its robust cybersecurity solutions, which cater to the increasingly digital fintech environment.
With cyberattacks becoming more sophisticated, fintech companies are under immense pressure to safeguard their platforms. Nucleus Security’s growth reflects the rising demand for comprehensive, scalable security solutions that protect sensitive financial data.
Op-Ed Insight:
In a digital-first world, robust cybersecurity isn’t optional—it’s fundamental. The recognition of companies like Nucleus Security signals the growing importance of protecting fintech infrastructure as the industry scales globally.
Source: PR Newswire.
OpenYield Secures Funding to Transform the Bond Market
OpenYield has announced a successful funding round, aiming to revolutionize the bond market through innovative technology. The platform promises greater transparency, efficiency, and accessibility in fixed-income investments.
This funding underscores the growing appetite for digitizing traditionally opaque financial markets. By leveraging cutting-edge technology, OpenYield seeks to democratize bond investments, making them accessible to a broader audience.
Op-Ed Insight:
The bond market, long viewed as complex and inaccessible, is ripe for disruption. OpenYield’s efforts to modernize this space highlight fintech’s transformative potential to democratize finance and empower individual investors.
Source: PR Newswire.
Key Takeaways: Shaping the Future of Fintech
Today’s developments underscore several critical themes in the fintech landscape:
- Personalization and Inclusion: Products like Beacon’s wallet highlight the importance of understanding and addressing specific user needs.
- Collaborative Ecosystems: Partnerships, like that of MeaWallet and Integrated Finance, emphasize the power of collaboration in solving industry challenges.
- Emerging Technologies: Juniper Research’s predictions affirm the continued influence of blockchain, embedded finance, and instant payment networks.
- Security at the Core: The recognition of Nucleus Security underscores the essential role of cybersecurity in fintech.
- Market Transformation: OpenYield’s funding signifies the ongoing disruption of traditional financial markets, paving the way for broader accessibility.
The post Fintech Pulse: Daily Industry Brief – A Dive into Today’s Emerging Trends and Innovations appeared first on News, Events, Advertising Options.
Fintech
Fintech Pulse: Industry Updates, Innovations, and Strategic Moves
As fintech continues to reshape the global financial landscape, today’s briefing highlights pivotal developments, strategic expansions, and innovative launches across the industry. This op-ed explores the latest advancements with commentary on their potential impacts and challenges.
Finastra Data Breach: A Wake-Up Call for Fintech Security
Source: KrebsOnSecurity
The cybersecurity landscape is buzzing after Finastra, one of the largest financial technology providers globally, confirmed an investigation into a potential data breach. Reports suggest unauthorized access to its systems, raising concerns about data security across its client base, which includes thousands of banks and financial institutions worldwide.
Implications and Challenges
While the details of the breach remain sparse, this incident underscores a glaring vulnerability in the fintech sector—cybersecurity. As financial services increasingly rely on interconnected ecosystems, breaches like these threaten not only individual institutions but also the trust customers place in fintech platforms.
The key takeaway for the fintech industry is clear: proactive cybersecurity strategies must go beyond compliance. Real-time threat detection, robust encryption standards, and regular audits are no longer optional but essential for maintaining operational integrity.
Future Considerations
This breach could trigger a domino effect, prompting regulators to tighten security standards and requiring fintech companies to double down on investments in data protection. Startups and mid-tier players, often lacking extensive cybersecurity budgets, may face significant pressure to keep pace.
PayPal Resurrects Money Pooling Feature
Source: TechCrunch
In a bid to stay ahead of the competition, PayPal is reintroducing its Money Pooling feature, a popular tool that was discontinued in 2021. The feature allows users to pool funds collectively, catering to families, small businesses, and social groups.
Strategic Revival
This move reflects PayPal’s commitment to customer-centric innovation. By reinstating a feature beloved by its user base, the company seeks to reclaim market share lost to emerging competitors offering similar functionalities.
Broader Industry Impacts
Money pooling represents a broader trend in fintech—customized solutions that cater to niche needs. This reintroduction may inspire competitors like Venmo and CashApp to refine their collaborative payment offerings.
While this move strengthens PayPal’s ecosystem, its success will depend on seamless integration with existing services and robust fraud prevention mechanisms to avoid abuse of the feature.
Santander Expands Fintech Reach in Mexico
Source: Yahoo Finance
Santander is making waves in the Latin American fintech space with the launch of a dedicated fintech unit in Mexico. The initiative aims to capitalize on Mexico’s growing fintech adoption and digital payments market, valued at billions of dollars annually.
Strategic Significance
Santander’s expansion into Mexico highlights the region’s untapped potential. Latin America is a burgeoning market for fintech, driven by increasing smartphone penetration, a youthful demographic, and demand for accessible financial services.
Challenges on the Horizon
While Mexico offers immense opportunities, regulatory complexities and market competition from local players like Clip and Konfío pose significant challenges. Santander will need to blend its global expertise with local adaptability to succeed in this dynamic market.
2024 Global Fintech Awards: Spotlighting Excellence
Source: PRNewswire
Benzinga has announced the winners of the 2024 Global Fintech Awards, honoring companies and individuals driving innovation in financial technology. This year’s winners spanned categories like blockchain, artificial intelligence, and payment solutions.
Recognizing Industry Leaders
Awards like these highlight the collaborative spirit and entrepreneurial drive fueling fintech growth. Recognizing trailblazers not only motivates incumbents but also inspires startups to push the boundaries of innovation.
What It Means for the Ecosystem
The awards also bring attention to emerging technologies. Categories such as blockchain and AI signal the industry’s continued focus on leveraging cutting-edge tech for efficiency and scalability.
Commonwealth Central Credit Union Partners with Jack Henry
Source: FinTech Futures
Commonwealth Central Credit Union (CCCU) has announced a partnership with Jack Henry, a leading financial technology provider, for a comprehensive tech upgrade. The collaboration focuses on enhancing member experience through improved digital services.
Modernizing Member Experiences
Credit unions have often lagged behind major banks in adopting advanced digital solutions. By partnering with Jack Henry, CCCU aims to bridge this gap, offering members streamlined services such as mobile banking, automated lending, and personalized financial tools.
A Growing Trend
This partnership reflects a broader trend in the financial industry—credit unions and smaller banks embracing fintech to remain competitive. As customer expectations evolve, partnerships like this may become the norm rather than the exception.
Key Takeaways for the Fintech Industry
- Cybersecurity is Critical: The Finastra breach underscores the need for robust security measures.
- Innovation Drives Loyalty: PayPal’s revival of its Money Pooling feature highlights the importance of listening to customers.
- Regional Opportunities: Santander’s expansion into Mexico showcases the untapped potential of emerging markets.
- Recognition Matters: Awards like Benzinga’s provide valuable visibility for companies and individuals shaping the industry.
- Partnerships Foster Growth: Collaborations between credit unions and fintech companies signify a trend towards modernized financial solutions.
The post Fintech Pulse: Industry Updates, Innovations, and Strategic Moves appeared first on News, Events, Advertising Options.
Fintech
Fintech Pulse: Milestones, Partnerships, and Transformations in Fintech
The fintech sector continues its relentless drive toward innovation and market dominance. Today’s highlights include a record-breaking customer milestone for Revolut, groundbreaking fintech solutions for women in the EU, open entries for the PayTech Awards 2025, implications of political shifts on funding, and notable recognition at the US FinTech Awards.
Revolut Hits 50 Million Customers: A Global Fintech Giant’s Milestone
Source: Revolut
Revolut, the UK-based financial super app, has achieved a monumental feat: surpassing 50 million customers worldwide. This milestone underscores its position as a leader in the global fintech landscape, furthering its ambition to create the world’s first truly global bank.
Key to this success has been Revolut’s strategy of expanding its offerings, from banking to travel and crypto services, all within a seamless user experience. The company’s recent ventures into emerging markets such as Latin America and Asia demonstrate its intent to bridge financial services gaps while retaining competitive differentiation through technology.
This milestone is not just a triumph for Revolut but a signal of fintech’s capacity to redefine traditional banking. It reinforces the narrative that digital-first strategies, customer-centric innovation, and international scalability can challenge long-standing financial institutions.
PayTech Awards 2025: Celebrating Excellence in Innovation
Source: FinTech Futures
The PayTech Awards 2025 are officially open for entries, promising to spotlight the brightest minds and most innovative projects in the payment technology sector. These awards are a testament to the industry’s commitment to advancing secure, seamless, and scalable payment systems.
This year, the focus is on emerging technologies that redefine how businesses and consumers interact financially. Categories will recognize achievements across multiple domains, including sustainability in payments, AI-driven solutions, and partnerships that push boundaries.
As fintech companies prepare their entries, the awards provide a timely reminder of the sector’s ongoing evolution and the collaborative efforts required to achieve meaningful breakthroughs.
U.S. Politics and the Fintech Sector: A New Era of Funding?
Source: American Banker
The U.S. fintech sector might witness an infusion of optimism as speculation about a second Trump presidency gains momentum. The Trump-era policies of deregulation and venture capital encouragement are remembered as catalysts for unprecedented fintech growth during his first term.
While it remains uncertain how regulatory landscapes will shift, the possibility of a more relaxed approach toward fintech compliance could rejuvenate funding inflows. Investors and startups alike are watching closely, weighing the potential benefits against long-term risks tied to reduced oversight.
A politically charged backdrop often spells volatility, but for fintech, it may also spell opportunity. Preparing to adapt quickly will be crucial for startups and established players in the face of any regulatory pivot.
Klara AI and Unlimit: Addressing the €1.3 Trillion Female Economy
Source: FF News
Klara AI has teamed up with Unlimit to launch a fintech solution aimed at empowering women across the EU. This collaboration targets the €1.3 trillion female economy by addressing the unique financial needs of women entrepreneurs and consumers.
The solution promises to integrate AI-powered tools with streamlined financial management services, enabling users to access credit, manage investments, and scale businesses effectively. By tailoring services to the underserved female demographic, the partnership hopes to drive financial inclusion and support economic growth.
This initiative stands as a blueprint for fintechs exploring niche markets, proving that innovation tailored to specific segments can yield transformative results.
Autire: Accounting Tech of the Year at US FinTech Awards
Source: Business Wire
Autire, a rising star in financial technology, has been crowned ‘Accounting Tech of the Year’ at the US FinTech Awards 2024. The award recognizes Autire’s ability to blend cutting-edge AI with intuitive user interfaces, delivering unparalleled accounting solutions for businesses of all sizes.
Autire’s platform has gained traction for automating complex accounting tasks, ensuring compliance, and delivering actionable insights through real-time analytics. Its emphasis on reducing administrative burdens for SMEs has been particularly impactful, enabling entrepreneurs to focus on growth rather than bookkeeping.
The recognition not only cements Autire’s reputation but also highlights the role of AI-driven accounting solutions in reshaping business operations globally.
Final Thoughts: A Fintech Revolution in Full Swing
From customer milestones to policy-driven opportunities, the fintech ecosystem is in constant evolution. Revolut’s ascent to 50 million users signals growing consumer trust in digital platforms. The PayTech Awards continue to inspire innovation, while political shifts could redefine the regulatory landscape. Initiatives like Klara AI and Unlimit emphasize the power of targeted solutions, and companies like Autire show how niche technologies can achieve broad impact.
The next phase of fintech growth will likely hinge on inclusivity, adaptability, and innovation—pillars that today’s news stories exemplify.
The post Fintech Pulse: Milestones, Partnerships, and Transformations in Fintech appeared first on .
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