Fintech
Datametrex Announces Acquisition of EV Connect Solutions Inc.
Toronto, Ontario–(Newsfile Corp. – June 9, 2022) – Datametrex AI Limited (TSXV: DM) (FSE: D4G) (OTCQB: DTMXF) (the “Company” or “Datametrex”) is pleased to announce the acquisition of EV Connect Solutions Inc. (“EV Connect“), a private Ontario company that is focused on the emerging global electric vehicle charging infrastructure market that is estimated to reach US$147.94 billion by 2030 (Source: Emergen Research, (2022, March 14) Global Electric Vehicle Charging Infrastructure Market Size to Reach US$147.94 Billion in 2030. (Source: https://www.prnewswire.com/news-releases/global-electric-vehicle-charging-infrastructure-market-size-to-reach-usd-147-94-billion-in-2030–emergen-research-301501946.html) The Company is entering the market with industry-leading technologies which include roadside charging units and an evolving proprietary roadside assistance mobile application. EV Connect is the exclusive Canadian partner of EVAR, a company that is a spin-off from Samsung Electronics C-Lab.
Transaction Terms
The Company, EV Connect, and the shareholders of EV Connect have entered into a share purchase agreement pursuant to which the Company acquired all the issued and outstanding shares of EV Connect for an aggregate deemed purchase price of $10,000,000. The purchase price was satisfied by the issuance of an aggregate of 66,666,667 common shares of the Company issued at a deemed price of $0.15 per share.
Additional transaction information:
- There were no finder’s fees paid in connection with the transaction.
- The share purchase agreement was signed and closed on June 8, 2022.
- EV Connect has zero debt.
- The transaction will not result in any change of control or the creation of new control persons at the Company.
“I am very happy to be a part of the Datametrex family. This will allow EV Connect to expedite its business plan and leverage the expertise of the team of experts. We are looking forward to growing EV Connect as part of Datametrex,” said Gregory Lee, President of EV Connect.
“This is a very exciting acquisition as we can utilize our team of developers and knowledge of product development to enter the emerging electric vehicle space – an exciting and growing industry that will be here for a long time and represents significant potential for Datametrex and its shareholders”, said Marshall Gunter, CEO of the Company.
With the Canadian government providing big incentives to drive EV adoption with a target date of 2023 to create a zero-emission vehicle infrastructure, many adoption barriers still exist. Most Canadians living in urban cities face harsh winters which makes driving conditions difficult. A recent research study from KPMG shows that 64% of Canadian drivers feel that EVs are not always reliable in cold weather. Just over half (51%) in the study said that they expect public charging stations to work quickly (no more than 20 minutes), with 79% saying they would not even consider an EV that does not have a driving range of at least 400 kilometres. (Source: KPMG, (2022, February 16) Canadians Hot on Electric Vehicles but Cold on Charging Ability. https://home.kpmg/ca/en/home/media/press-releases/2022/02/canadians-hot-on-electric-vehicles-but-cold-on-charging.html)
One of the biggest concerns affecting EV owners today is “range anxiety”- the worry that driving too far from a charging station will leave you stranded with a dead battery. EV Connect wants to alleviate range anxiety with its proprietary direct charging technology that keeps drivers charged and prepared to go the distance. The Company believes that EV Connect’s roadside assistance will solve range anxiety along with other common charging station issues such as station failures and long waiting time to charge- approximately eight (8) hours. Furthermore, the Company is focused on keeping its services quick and cost-effective.
EV Connect Business Highlights
- Focus on electric vehicle mobile charging solutions using its mobile vehicles and mobile application.
- The simple mobile application allows clients to reserve its roadside assistance EV charging service drivers, much like Uber and similar share economy apps.
- The Company is in the process of rolling out several EV Charging Vehicles with battery management systems (BMS).
- EV Connect targets the beta test of its mobile application in Q3/22 and plans to have its leading-edge charging vehicles on the road by year-end. Future growth plans include generating revenue within the year and expanding into other cities in North America.
EVAR Highlights
- EVAR is one of the developers of innovative solutions for electric vehicle charging and is one of the world’s first developers of autonomous EV recharging robots.
- EVAR is a spin-off from Samsung Electronics C-Lab with a focus on creating a hassle free, EV recharging environment.
- EVAR won the innovation award at CES 2022, the world’s largest technology event along with “Best Innovation” award from Lotte Construction.
EVAR obtains Li-ion batteries from SK ON, LG Energy Solution and Samsung SDI and serves as technical advisors for these major Korean battery corporations.
To learn more about EVAR, please visit: https://www.evar.co.kr/.
EV Connect Solutions Overview
EV Connect is trailblazing the electric vehicle (EV) industry with its leading-edge mobile charging units and proprietary mobile application. EV Connect provides solutions for drivers facing electric vehicle charging issues with its mobile charging unit with 24/7 roadside assistance, helping them get charged quickly while on the go and preventing potential delays and issues in the future with their AI technology.
For additional information on EV Connect Solutions, please visit the Company’s website at www.evconnectsolutions.com.
About Datametrex
Datametrex AI Limited is a technology-focused company using artificial intelligence (AI) to create progressive solutions for the cyber security, telehealth, and electric vehicle (EV) verticals. Datametrex’s mission is to provide tools that support companies in fulfilling their operational goals with predictive and preventive technologies.
For additional information on Datametrex and other corporate information, please visit the Company’s website at www.datametrex.com.
For further information:
Kristina Colpitts- Director, Communications
Email: [email protected]
Telephone: 416-901-5611 x 204
Marshall Gunter- CEO
Email: [email protected]
Tel: 514-295-2300
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements:
This news release contains “forward-looking statements” within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking statements.
All statements included in this press release that address activities, events, or developments that the Company expects, believes, or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections, and other forward-looking statements will prove inaccurate, certain of which are beyond the Company’s control. There is no guarantee that its EV Connect Solutions business will be successful. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not undertake to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.
Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect the Company’s expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events, or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
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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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