Fintech
Yubba Capital Corp. Announces Update on Qualifying Transaction with Ruckify Inc.
Toronto, Ontario–(Newsfile Corp. – November 18, 2021) – Yubba Capital Corp. (TSXV: YUB.P) (“Yubba” or the “Company“), a “capital pool company” pursuant to the policies of the TSX Venture Exchange (the “TSXV“), is pleased to provide the following updates on its previously announced proposed qualifying transaction (the “Qualifying Transaction“) with Ruckify Inc. (“Ruckify“).
As previously announced, Yubba has entered into a binding letter of intent with Ruckify, which outlines the terms and conditions pursuant to which the parties will complete its proposed Qualifying Transaction. The Qualifying Transaction will result in a reverse take-over of Yubba by Ruckify and will constitute Yubba’s “Qualifying Transaction” under Policy 2.4 – Capital Pool Companies of the TSXV Corporate Finance Manual.
The completion of the Qualifying Transaction is subject to a number of conditions, including the closing of Ruckify’s proposed acquisition (the “Fat Llama Acquisition“) of Fat Llama Inc. (“Fat Llama“), as previously announced, and obtaining all required approvals, including the final approval of the TSXV.
Yubba Special Meeting of Shareholders Results
Yubba today announced the voting results from its Special Meeting of Shareholders (the “Yubba Meeting“) held on Thursday, November 18, 2021 in connection with its proposed Qualifying Transaction.
All matters put forth at the Yubba Meeting, including: (i) the election of directors of the Company both prior to, and upon completion of, the proposed Qualifying Transaction; (ii) the approval of the amendment of the articles of Yubba to change the name of the Company to “Fat Llama Corporation” or such other name as Yubba and Ruckify may reasonably determine and consolidate its common shares on a 7.598:1 basis; and (iii) the adoption of the new stock option plan of the Company, each as further detailed in the management information circular of Yubba dated October 21, 2021, were approved by 100% of the voting shareholders of Yubba.
Ruckify Special Meeting of Shareholders
Ruckify anticipates that its special meeting of shareholders in connection with the proposed Qualifying Transaction (the “Ruckify Meeting“) will take place in December 2021. Once the Ruckify Meeting date has been finalized, the management information circular of Ruckify and related meeting materials will be mailed to its shareholders in connection with the Ruckify Meeting.
About Ruckify:
Founded in Ottawa, Canada, in 2017 Ruckify’s peer-to-peer rent anything marketplace provides a platform enabling Ruckify users to monetize their assets while at the same time leverage the sharing economy to rent items and minimize what they own, avoiding investment in depreciating assets. Ruckify provides its users with the freedom to do what they want when they want without the restrictions of time, storage, price or availability. In doing so, Ruckify supports sustainability by providing people the means to optimize the use of thousands of items within their communities.
To accelerate its growth, Ruckify identified Fat Llama Inc, the leading rent anything marketplace in the United Kingdom, as a strategic acquisition target. Ruckify expects that Fat Llama’s advanced technology and proven business model will provide the foundation upon which it can more effectively operate its marketplace. Ruckify and Fat Llama expect that by working together as one, the merged entity can rapidly expand into new markets and become the global rent anything marketplace leader.
Cautionary Note Regarding Forward-Looking Information
This press release contains certain forward-looking statements, including statements about Ruckify and the Company’s future plans and intentions, the Ruckify Meeting and completion of the proposed Fat Llama Acquisition and the Qualifying Transaction. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.
Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: the ability to consummate the Fat Llama Acquisition or the Qualifying Transaction; the ability to obtain requisite regulatory and Ruckify shareholder approvals and the satisfaction of other conditions to the consummation of the Fat Llama Acquisition or the Qualifying Transaction on the proposed terms and schedule; the potential impact of the announcement or consummation of the Fat Llama Acquisition or the Qualifying Transaction on relationships, including with regulatory bodies, employees, suppliers, customers and competitors; the re-rating potential following the consummation of the Fat Llama Acquisition or the Qualifying Transaction; changes in general economic, business and political conditions, including changes in the financial markets; and the diversion of management time on the Qualifying Transaction. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
For further information, please contact:
Ruckify Inc.
Dean Cosman
Chief Financial Officer
E-mail: [email protected]
Yubba Capital Corp.
Brian Morales
Director
E-mail: [email protected]
Completion of the proposed Qualifying Transaction is subject to a number of conditions, including, but not limited to, TSXV acceptance and approval. There can be no assurance that the proposed Qualifying Transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the filing statement or management information circular of Yubba or management information circular of Ruckify prepared in connection with the proposed Qualifying Transaction, any information released or received with respect to the proposed Qualifying Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of Yubba should be considered highly speculative.
The TSXV has in no way passed upon the merits of the proposed Qualifying Transaction and has not approved or disapproved of the contents of this press release.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/104282
As we close out 2024, the fintech industry continues to deliver headlines that underscore its dynamism and innovation. From IPO aspirations to groundbreaking regulatory milestones, today’s updates highlight the transformative power of fintech partnerships, regulatory evolution, and disruptive technologies. Here’s what you need to know.
Chime’s Quiet Step Toward Public Markets
Chime, the U.S.-based financial technology startup best known for its digital banking services, has taken a significant step by filing confidential paperwork for an initial public offering (IPO). As one of the most valuable private fintechs in the U.S., Chime’s move could potentially signal a renewed appetite for fintech IPOs in a market that has been cautious following fluctuating valuations across the tech sector.
With a valuation that reportedly exceeded $25 billion in its last funding round, Chime’s IPO could set a new benchmark for the industry. Observers note that its strong customer base and revenue growth may make it an appealing choice for investors seeking to capitalize on the digital banking boom. However, the timing and success of the IPO will depend on broader market conditions and the regulatory landscape.
Source: Bloomberg
ZBD’s Pioneering Achievement: EU MiCA License Approval
ZBD, a fintech company specializing in Bitcoin Lightning network solutions, has made history by becoming the first to secure an EU MiCA (Markets in Crypto-Assets Regulation) license. This landmark approval by the Dutch regulator positions ZBD at the forefront of compliant crypto-fintech operations in Europe.
MiCA, which aims to harmonize the regulatory framework for crypto-assets across the EU, has been a focal point for industry players aiming to establish legitimacy and expand their offerings. ZBD’s achievement not only validates its operational rigor but also sets a precedent for other fintech firms navigating the evolving regulatory landscape.
Industry insiders view this as a strategic advantage for ZBD as it broadens its footprint in Europe. By leveraging its regulatory approval, the company can accelerate its product deployment and establish trust with institutional and retail users alike.
Source: Coindesk, PR Newswire
The Fintech-Credit Union Synergy: A Blueprint for Innovation
The convergence of fintechs and credit unions continues to reshape the financial services ecosystem. Collaborative initiatives, such as the one highlighted in the recent partnership between fintech innovators and credit unions, are proving to be a potent force in delivering tailored financial solutions.
This “dream team” approach allows credit unions to leverage fintech’s technological expertise while maintaining their community-focused ethos. Key areas of collaboration include digital payments, personalized financial management tools, and enhanced loan processing capabilities. These partnerships not only enhance member engagement but also enable credit unions to remain competitive in an increasingly digital-first financial environment.
Industry analysts emphasize that such collaborations underscore a broader trend of traditional financial institutions embracing fintech-driven solutions to bridge service gaps and foster innovation.
Source: PYMNTS
Tackling Student Loan Debt: A Fintech’s Mission
Student loan debt remains a pressing issue for millions of Americans, and a Rochester-based fintech aims to offer relief through its cloud-based platform. This innovative solution is designed to simplify loan management and provide borrowers with actionable insights to reduce their debt burden.
The platform’s features include repayment optimization tools, personalized financial education, and seamless integration with loan servicers. By addressing the complexities of student loan management, this fintech is empowering borrowers to make informed decisions and achieve financial stability.
As the student loan crisis continues to evolve, solutions like this highlight the critical role fintech can play in addressing systemic financial challenges while fostering financial literacy and inclusion.
Source: RBJ
Industry Implications and Takeaways
Today’s updates underscore several key themes shaping the fintech landscape:
- Regulatory Milestones: ZBD’s MiCA license approval exemplifies the importance of regulatory compliance in unlocking growth opportunities.
- Strategic Partnerships: The collaboration between fintechs and credit unions demonstrates the value of combining technological innovation with traditional financial models to drive customer-centric solutions.
- Market Opportunities: Chime’s IPO move reflects a potential revival in fintech public offerings, signaling confidence in the sector’s long-term prospects.
- Social Impact: Fintech’s ability to tackle systemic issues, such as student loan debt, showcases its role as a force for positive change.
The post Fintech Pulse: Your Daily Industry Brief (Chime, ZBD, MiCA) appeared first on News, Events, Advertising Options.
Leading global payments platform SPAYZ.io has confirmed it will be attending iFX EXPO Dubai 2025 on 14 to 16 January. Exhibiting at Stand 64 at Trade Centre Dubai, SPAYZ.io’s team of professionals will be on hand providing live demonstrations of its renowned payment services for payment providers. Attendees will also receive exclusive insight into SPAYZ.io’s plans for 2025 alongside early early access to its upcoming plans for the new year.
SPAYZ.io delivers a host of payment solutions that leverage the latest technological innovations and open access to the fastest growing emerging markets across Africa, Europe and Asia. Over the past year, there has been huge demand for its Open Banking and local payment method services, alongside bank transfers, mass payouts, online banking and e-wallets.
Yana Thakurta, Head of Business Development at SPAYZ.io commented: “We look forward to once again participating at iFX Dubai to expand our network of partners and clients. It’s a fantastic way to kick off the year, connecting with thousands of industry leaders from FOREX platforms to trading companies, and everything in between.
“Our key goal for iFX Dubai EXPO 2025 is to expand our portfolio of solutions and geographies. We’re using this as an opportunity to partner with like-minded entities who share our ambition to provide payment solutions that are truly global.”
Come meet SPAYZ.io’s team at the Trade Centre Dubai at Stand 64. You can also book a meeting slot with a member of a team.
The post SPAYZ.io prepares for iFX EXPO Dubai 2025 appeared first on News, Events, Advertising Options.
Airtm, the most connected digital dollar account in the world, is proud to announce the addition of two distinguished industry leaders to its Board of Directors: Rafael de la Vega, Global SVP of Partnerships at Auctane, and Shivani Siroya, CEO & Founder of Tala. These appointments reflect Airtm’s commitment to innovation and financial inclusion as the company enters its next phase of growth.
“We are thrilled to welcome Rafael and Shivani to Airtm’s Board of Directors,” said Ruben Galindo Steckel, Co-founder and CEO of Airtm. “Their unique perspectives and proven track records will be invaluable as we continue scaling our platform to empower individuals and businesses in emerging markets. Together, we’ll push the boundaries of financial inclusion and innovation to create a more connected and equitable global economy. Rafael and Shivani bring a wealth of experience and strategic insight that will strengthen Airtm’s mission to connect emerging economies with the global market.”
Rafael de la Vega, a seasoned leader in fintech global partnerships and technology innovation, is currently the Global SVP of Partnerships at Auctane. With a proven track record of delivering scalable, impactful solutions at the intersection of fintech, innovation, and commerce, Rafael’s expertise will be pivotal as Airtm continues to grow. “Airtm has built a platform that breaks down barriers and opens up opportunities for people in emerging economies to connect to global markets. I am excited to contribute to its growth and help further its mission of fostering financial inclusion on a global scale,” said Rafael.
Shivani Siroya, CEO and Founder of Tala, is a pioneer in financial technology, renowned for empowering underserved communities through access to credit and essential financial tools. Her leadership in leveraging data-driven innovation aligns seamlessly with Airtm’s vision of creating more equitable financial opportunities. “Empowering underserved communities has always been at the core of my work, and Airtm’s mission resonates deeply with me. I’m thrilled to join the Board and work alongside such a dynamic team to expand access to financial tools that truly make a difference in people’s lives,” said Shivani.
The post Airtm Enhances Its Board of Directors with Two Strategic Appointments appeared first on News, Events, Advertising Options.
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