Connect with us

Technology

SurgePays Announces Third Quarter 2024 Financial Results

Published

2 days ago

on

Migration of former ACP Subscribers to Lifeline Well Underway

BARTLETT, Tenn., Nov. 12, 2024 /PRNewswire/ — SurgePays, Inc. (Nasdaq: SURG) (“SurgePays” or the “Company”), a bridging critical financial and connectivity gaps in underserved communities, today announced its financial results for the third quarter ended September 30, 2024.

Management Commentary

Chairman and CEO Brian Cox commented on the quarter’s results, “We anticipated a challenging third quarter, and we seized it as an opportunity to reset, recalibrate, and accelerate. With every team member intensely focused, we’re advancing toward becoming cash flow positive as quickly as possible. We are aligning sales, integration, and strategy to generate new revenue streams across each of our business segments. This quarter wasn’t a setback but a setup, priming us for long-term, sustainable growth.

“In the third quarter of 2024, SurgePays reported $4.8 million in sales, aligning with expectations for our first full quarter without Affordable Connectivity Funding (ACP) since mid-2021. Our Mobile Virtual Network Operator (MVNO) revenue was $23,609 compared to $30.2 million in the same quarter last year, reflecting the anticipated funding shift. Meanwhile, sales in our Prepaid Platform Services segment surged 69% to $4.7 million, showcasing significant growth momentum.

“Gross profit (exclusive of depreciation and amortization) swung to a $7.8 million loss in the third quarter from a $10.5 million profit in the year-ago period due to our strategic decision to utilize our strong balance sheet to protect our previous ACP subscriber base and distribution network. With ACP funding ending, our immediate focus was on how to retain and preserve these hard-earned customers within the SurgePays ecosystem.   We chose to temporarily self-fund our MVNO operations, prioritizing customer continuity while facilitating a seamless transition to Lifeline, another government-subsidized program. By maintaining connectivity for our low-income customers, we made a socially responsible and strategic choice that positions us well for potential long-term economic returns. We expect this decision to be both customer-centered and financially astute in the long run.

“Our recent Master Services Agreement with TerraCom, Inc., a licensed Lifeline provider, represents a pivotal step. This partnership allows us to migrate up to 280,000 subscribers to Lifeline, establishing a steady alternative subsidy channel. In tandem, our sales teams are now actively engaging new customers, reigniting growth initiatives, and leveraging our SurgePays platform’s point-of-sale capabilities at convenience stores. While ACP remains uncertain, our subsidized revenue channel is robustly supported by the Lifeline program. The team and platform built for ACP is now enrolling thousands of Lifeline customers daily without distracting from our core business focus. This department has been overwhelmed and has had to hire additional employees for the sales onboarding team. Our team has now enrolled over 70,000 customers in the Lifeline program, and we believe our Lifeline subscribers potential can far outpace our highest ACP subscriber count.

“Meanwhile, our retail prepaid brand, LinkUp Mobile, has proved to be a more significant opportunity than initially anticipated, and to capture maximum market share, we moved decisively to secure a direct carrier connection. We anticipate this partnership will enable us to quickly generate hundreds of thousands of new subscribers and establish LinkUp Mobile as a formidable presence in the prepaid space.

“Our SurgePays Prepaid Top-ups platform is experiencing exponential growth as a critical element in store readiness for LinkUp Mobile activations. As a prerequisite to LinkUp activations, stores join our platform, which also facilitates prepaid reloads. This channel’s monthly revenue growth has surged nearly 400% in just five months, reaching over $2.2 million in monthly revenue — a trend we expect will continue as market demand intensifies.

“Our ClearLine Point of Sale (POS) SaaS platform is emerging as a high-potential asset within SurgePays. This advanced platform redefines the in-store customer experience by transforming POS terminals and customer-facing screens into interactive engagement tools. ClearLine’s patent-pending application supports in-store marketing campaigns, loyalty enrollment, and QR code interactions, effectively replacing traditional posters with smart TVs for dynamic QR-code advertising and instant coupon redemptions. By enhancing revenue per store and elevating customer satisfaction, ClearLine offers retailers actionable insights, driving growth and loyalty.  Following years of development, ClearLine is now ready for market deployment, and as it gains traction, we anticipate it will contribute meaningfully to consolidated revenues by Q1 2025.

“While we continue investing across our four business channels, we’re also laying a robust foundation for rapid, sustainable growth. Recently, we opened a dedicated sales and operations center in El Salvador, a project over a year in the making and a strategic move in anticipation of growth across all our verticals. Nearly 100 experienced team members, previously outsourced, are now full-time SurgePays employees, bringing continuity and expertise essential for our ambitious expansion and product launches.

This new facility marks a pivotal evolution from our longstanding outsourcing strategy, which enhances customer relationships and maximizes sales opportunities.

“At SurgePays, we’re driven by four pillars of success: team, product, distribution, and funding. With what I believe is the most seasoned team in prepaid wireless, a market-leading product suite, proprietary distribution channels, and $24 million in cash, cash equivelants, and investments as of September 30, 2024, we’re positioned to execute our growth strategy with precision. Over the next few months, we expect each of our four business segments to create a momentum that drives continuous growth and improvement, generating synergistic and scalable recurring revenue.”

Third Quarter 2024 Results Conference Call

SurgePays management will host a webcast today at 5 p.m. ET / 2 p.m. PT to discuss these results.

The live webcast of the call can be accessed on the company’s investor relations website at ir.surgepays.com, or by registering at the following link: Third Quarter Results Call .

Telephone access to the call will be available at 877-545-0320 (in the U.S.) or by dialing 973-528-0002 (outside the U.S.). Participant access code is 801757.

A telephone replay will be available approximately one hour following completion of the call until November 26, 2024. To access the replay, please dial 877-481-4010 (in the U.S.) or 919-882-2331 (outside the U.S.). Replay passcode is 51609.

Share Repurchase Authorization

During the third quarter, SurgePays’ board of directors authorized the company to repurchase up to $5 million of common stock in the open market within six months from implementation of the program.  The company repurchased $485,131 of treasury shares in the third quarter.

About SurgePays, Inc.

SurgePays, Inc. is a technology and telecom company focused on the underbanked and underserved communities. SurgePays’ technology-layered platform empowers clerks at over 8,000 convenience stores to provide a suite of prepaid wireless and financial products to underbanked customers. SurgePays prepaid wireless companies provide services to over 250,000 low-income subscribers nationwide. The company ranks as the 345th fastest-growing tech company in North America according to the 2023 Deloitte Technology Fast 500. Please visit SurgePays.com for more information.

Cautionary Note Regarding Forward-Looking Statements

This press release includes express or implied statements that are not historical facts and are considered forward-looking within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act. Forward-looking statements involve substantial risks and uncertainties. Forward-looking statements generally relate to future events or our future financial or operating performance and may contain projections of our future results of operations or of our financial information or state other forward-looking information. In some cases, you can identify forward-looking statements by the following words: “may,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “ongoing,” “attempting,” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words.

Although we believe that the expectations reflected in these forward-looking statements such as regarding our market potential along with the statements under the heading Management Commentary are reasonable, these statements relate to future events or our future operational or financial performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements including but not limited to, our plans to expand our prepaid wireless company and the stock buyback program, our ability to retain our subscribers on a free monthly plan subsidized by a sister program, our ability to obtain a company that has the license to subsidize our subscribers through a sister program and our expanded service and offerings . Furthermore, actual results may differ materially from those described in the forward-looking statements and will be affected by a variety of risks and factors that are beyond our control, including, without limitation, whether the ACP is funded again, our ability to obtain a company that has the license to subsidize our subscribers through a sister program, statements about our future financial performance, including our revenue, cash flows, costs of revenue and operating expenses; our anticipated growth; and our predictions about our industry. The forward-looking statements contained in this release are also subject to other risks and uncertainties, including those more fully described in our filings with the Securities and Exchange Commission (“SEC”), including in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023. The forward-looking statements in this press release speak only as of the date on which the statements are made. We undertake no obligation to update, and expressly disclaim the obligation to update, any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law.

SurgePays, Inc. and Subsidiaries

Consolidated Balance Sheets

September 30, 2024

December 31, 2023

(Unaudited)

Assets

Current Assets

Cash and cash equivalents

$                    13,651,559

$                  14,622,060

Investments

10,068,506

–

Accounts receivable – net

1,513,996

9,536,074

Inventory

8,363,138

9,046,594

Prepaids and other

312,679

161,933

Total Current Assets

33,909,878

33,366,661

Construction-in-process

518,189

–

Property and equipment – net

158,092

361,841

Other Assets

Note receivable

176,851

176,851

Intangibles – net

1,636,339

2,126,470

Internal use software development costs – net

372,303

539,424

Goodwill

4,166,782

1,666,782

Investment in CenterCom

498,273

464,409

Operating lease – right of use asset – net

62,786

387,869

Deferred income taxes – net

–

2,835,000

Total Other Assets

6,913,334

8,196,805

Total Assets

$                    41,499,493

$                  41,925,307

Liabilities and Stockholders’ Equity

Current Liabilities

Accounts payable and accrued expenses

$                      3,173,968

$                    6,439,120

Accounts payable and accrued expenses – related party

462,376

1,048,224

Accrued income taxes payable

100,000

570,000

Deferred revenue

–

20,000

Operating lease liability

50,415

43,137

Note payable – related party

1,647,491

4,584,563

Total Current Liabilities

5,434,250

12,705,044

Long Term Liabilities

Note payable – related party

2,303,989

–

Notes payable – SBA government

472,135

460,523

Operating lease liability

13,132

356,276

Total Long Term Liabilities

2,789,256

816,799

Total Liabilities

8,223,506

13,521,843

Stockholders’ Equity

Common stock, $0.001 par value, 500,000,000 shares authorized

  19,931,549 shares issued and 19,650,779 shares outstanding,
respectively, at September 30, 2024  

  14,403,261 shares issued and outstanding at December 31, 2023

19,935

14,404

Additional paid-in capital

74,725,651

43,421,019

Treasury stock – at cost (280,770 and 0 shares, respectively)

(485,131)

–

Accumulated deficit

(41,102,720)

(15,186,203)

Stockholders’ equity

33,157,735

28,249,220

  Non-controlling interest

118,252

154,244

Total Stockholders’ Equity

33,275,987

28,403,464

Total Liabilities and Stockholders’ Equity

$                    41,499,493

$                  41,925,307

 

SurgePays, Inc. and Subsidiaries

Consolidated Statements of Operations

(Unaudited)

For the Three Months Ended September 30,

For the Nine Months Ended September 30,

2024

2023

2024

2023

Revenues

$                     4,769,697

$                    34,160,834

$                   51,284,531

$                  104,823,710

Costs and expenses

Cost of revenues

12,602,057

23,680,247

54,377,300

76,622,912

General and administrative expenses

6,448,402

3,389,015

20,312,185

10,201,663

Total costs and expenses

19,050,459

27,069,262

74,689,485

86,824,575

Income (loss) from operations

(14,280,762)

7,091,572

(23,404,954)

17,999,135

Other income (expense)

Interest expense

(112,814)

(130,335)

(362,119)

(478,928)

Loss on lease termination – net

(194,862)

(194,862)

Other income

239

–

637,107

–

Interest income

183,537

183,537

Unrealized gains – investments

38,292

38,292

Dividends, interest and other income – investments

86,626

86,626

Gain on investment in CenterCom

–

51,894

33,864

95,636

Total other income (expense) – net

1,018

(78,441)

422,445

(383,292)

Net income (loss) before provision for income taxes

(14,279,744)

7,013,131

(22,982,509)

17,615,843

Provision for income tax benefit (expense)

–

–

(2,970,000)

–

Net income (loss) including non-controlling interest

(14,279,744)

7,013,131

(25,952,509)

17,615,843

Non-controlling interest

(4,397)

(71,170)

(35,992)

19,209

Net income (loss) available to common stockholders

$                  (14,275,347)

$                       7,084,301

$                  (25,916,517)

$                    17,596,634

Earnings per share – attributable to common stockholders

    Basic

$                             (0.73)

$                                0.50

$                             (1.37)

$                               1.24

    Diluted

$                             (0.73)

$                                0.49

$                             (1.37)

$                               1.19

Weighted average number of shares outstanding – attributable
to common stockholders

    Basic

19,689,010

14,291,263

18,940,689

14,205,127

    Diluted

19,689,010

14,507,984

18,940,689

14,740,201

 

SurgePays, Inc. and Subsidiaries

Consolidated Statements of Changes in Stockholders’ Equity

For the Three and Nine Months Ended September 30, 2024

(Unaudited)

 Additional

 Total

Common Stock

 Paid-in

 Accumulated 

Treasury Stock

Non-Controlling

 Stockholders’

Shares

 Amount

 Capital

 Deficit

Shares

 Amount

Interest

 Equity

December 31, 2023

14,403,261

$    14,404

$     43,421,019

$     (15,186,203)

$                     –

$                              –

$                154,244

$        28,403,464

Stock issued for cash

3,080,356

3,081

17,246,913

–

–

–

–

17,249,994

Cash paid as direct offering costs

–

–

(1,395,000)

–

–

–

–

(1,395,000)

Exercise of warrants – cash

1,860,308

1,861

8,797,396

–

–

–

–

8,799,257

Exercise of warrants – cashless

40,238

41

(41)

–

–

–

–

–

Stock issued for services

47,386

48

411,692

–

–

–

–

411,740

Recognition of stock based compensation – unvested
shares – related parties

–

–

1,497,417

–

–

–

–

1,497,417

Recognition of stock-based compensation – related party

–

–

6,196

–

–

–

–

6,196

Non-controlling interest

–

–

–

–

–

–

(12,164)

(12,164)

Net income

–

–

–

1,224,595

–

–

–

1,224,595

March 31, 2024

19,431,549

19,435

69,985,592

(13,961,608)

–

–

142,080

56,185,499

Recognition of stock based compensation – unvested
shares – related parties

–

–

2,981,577

–

–

–

–

2,981,577

Non-controlling interest

–

–

–

–

–

–

(19,431)

(19,431)

Net loss

–

–

–

(12,865,765)

–

(12,865,765)

June 30, 2024

19,431,549

19,435

72,967,169

(26,827,373)

–

–

122,649

46,281,880

Recognition of stock based compensation – unvested
shares – related parties

500,000

500

1,758,482

–

–

–

–

1,758,982

Treasury shares repurchased (share buy-backs)

–

–

–

–

280,770

(485,131)

–

(485,131)

Non-controlling interest

–

–

–

–

–

–

(4,397)

(4,397)

Net loss

–

–

–

(14,275,347)

–

–

–

(14,275,347)

September 30, 2024

19,931,549

$    19,935

$     74,725,651

$     (41,102,720)

280,770

$           (485,131)

$                118,252

$        33,275,987

Per TB/ISL

19,931,549

$    19,935

$     74,725,651

$     (41,102,720)

$           (485,131)

$                118,252

Difference

–

–

–

(0)

–

0

33,275,987

 

SurgePays, Inc. and Subsidiaries

Consolidated Statements of Cash Flows

(Unaudited)

For the Nine Months Ended September 30,

2024

2023

Operating activities

Net income (loss) – including non-controlling interest

$                 (25,952,509)

$                    17,615,843

Adjustments to reconcile net income (loss) to net cash provided by (used in) operations

  Depreciation and amortization

693,880

701,279

  Amortization of right-of-use assets

70,857

32,426

  Amortization of internal use software development costs

167,121

96,795

  Stock issued for services

411,740

874,284

  Recognition of stock based compensation – unvested shares – related parties

6,237,976

–

  Recognition of share based compensation – options – related party

6,196

27,882

  Interest expense adjustment – SBA loans

19,750

–

  Right-of-use asset lease payment adjustment true up

(148,584)

–

  Gain on equity method investment – CenterCom

(33,864)

(95,637)

  Cash paid for lease termination

(212,175)

–

  Loss on lease termination – net

194,862

–

Changes in operating assets and liabilities

  (Increase) decrease in

    Accounts receivable

8,022,078

(544,063)

    Inventory

683,456

(3,363,165)

    Prepaids and other

(150,746)

(86,355)

    Deferred income taxes – net

2,835,000

–

  Increase (decrease) in

    Accounts payable and accrued expenses

(5,765,152)

1,048,750

    Accounts payable and accrued expenses – related party

(86,857)

(726,163)

    Accrued income taxes payable

(470,000)

–

    Installment sale liability – net

–

(7,097,838)

    Deferred revenue

(20,000)

(125,110)

    Operating lease liability

84,257

(29,230)

Net cash provided by (used in) operating activities

(13,412,714)

8,329,698

Investing activities

Advances made for construction-in-process costs

(518,189)

–

Capitalized internal use software development costs

–

(281,304)

Purchase of investments – net

(10,068,506)

–

Net cash used in investing activities

(10,586,695)

(281,304)

Financing activities

Proceeds from stock issued for cash

17,249,994

–

Proceeds from exercise of common stock warrants

8,799,257

207,240

Cash paid as direct offering costs

(1,395,000)

–

Repayments of loans – related party

(1,132,074)

(1,017,385)

Repayments on notes payable

–

(1,531,478)

Repayments on notes payable – SBA government

(8,138)

(10,976)

Treasury shares repurchased (share buy-backs)

(485,131)

–

Net cash provided (used in) by financing activities

23,028,908

(2,352,599)

Net increase (decrease) in cash and cash equivalents

(970,501)

5,695,795

Cash and cash equivalents – beginning of period

14,622,060

7,035,654

Cash and cash equivalents – end of period

$                     13,651,559

$                     12,731,449

Supplemental disclosure of cash flow information

Cash paid for interest

$                          372,579

$                          209,840

Cash paid for income tax

$                                      –

$                                      –

Supplemental disclosure of non-cash investing and financing activities

Reclassification of accrued interest – related party to note payable – related party

$                          498,991

$                                      –

Exercise of warrants – cashless

$                                   41

$                                      –

Termination of ROU operating lease assets and liabilities

$                          309,826

Right-of-use asset obtained in exchange for new operating lease liability

$                            98,638

$                                      –

Goodwill (ClearLine Mobile, Inc.)

$                       2,500,000

$                                      –

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/surgepays-announces-third-quarter-2024-financial-results-302303323.html

SOURCE SurgePays

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Huawei Cloud in France: Building an AI-Native Cloud to Amplify Intelligence on the Tech Stage

Published

39 minutes ago

on

November 14, 2024

By

PARIS, Nov. 14, 2024 /PRNewswire/ — HUAWEI CONNECT 2024 PARIS commenced today, featuring the first Huawei Cloud Summit France. Huawei Cloud is building an AI-native cloud through systematic innovation and service reshaping. Moving forward, Huawei Cloud will continue to drive innovation in both the “AI for Cloud” and “Cloud for AI” directions, accelerating the intelligent transformation across industries in France.

Jacqueline Shi, President of Huawei Cloud Global Marketing and Sales Service, delivered a welcome speech in her digital presence built using Huawei Cloud MetaStudio. She stated, “Innovation is the heart of our success, our competitiveness, and our growth. That’s why we invest heavily in R&D to bring you the most secure and reliable cloud services possible, including cloud native, AI, and big data. In Europe, Huawei Cloud has collaborated with over 500 local partners to deliver a wide range of industry-specific solutions and proven expertise, enabling European businesses to expedite their cloud adoption, leverage global resources, and achieve leapfrog growth.”

In his keynote speech, William Dong, President of Huawei Cloud Marketing, highlighted the importance of AI in building economic moats. To this end, Huawei Cloud launches Pangu models to enable intelligent upgrades across industries, with over 400 use cases in 30 industries now benefiting from Huawei Cloud’s AI-native cloud infrastructure that extends cutting-edge technologies and premium experiences to European customers. On the tech stage, Huawei Cloud is set to amplify intelligence.

Huawei Cloud’s AI-native strategy has been a cornerstone of the company’s innovation. This strategy is twofold: AI for Cloud and Cloud for AI, marking significant advancements in Huawei Cloud’s capabilities. “AI for Cloud” means integrating Pangu models with cloud services for product R&D, data governance, security, and O&M to make them more intelligent and efficient.

With full-stack systemic innovations, “Cloud for AI” covers data centers, cloud platform architectures, and infrastructure services, enabling efficient and high-performance data preparation, training, inference, and application of foundation models. The distributed cloud database GaussDB features high performance, high intelligence, and easy migration. Huawei Cloud Stack 8.5 provides more than 120 locally deployed cloud services and 50 industry-specific solutions, building the optimal hybrid cloud for intelligent transformation.

At this summit, Huawei Cloud officially released the Flexus cloud services for small- and medium-sized enterprises (SMEs) in France. Flexus feature flexible specifications, AI-driven high speed, 6x burst speed, compute hot upgrade, and ultimate experience.

Presently, Huawei Cloud has more than 500 customers, partners, and developers in France. Song Wanying, President of Huawei Cloud France, shared insights on fostering business growth through cloud innovation and introduced new media & entertainment, e-commerce, and retail solutions for the French market, furthering intelligent initiatives.

Huawei Cloud has upgraded media services in a 3E approach: efficiency, experience, and evolution. For instance, AIGC for virtual humans can significantly reduce the time required for short video production from days to mere minutes. In terms of experience, Huawei Cloud leverages its self-developed RTP protocol to minimize latency to 500 ms and reduce frame freezing to 10%. For business model evolution, Huawei Cloud offers virtual human technology to facilitate efficient video production, leading to new business opportunities and growth.

In retail and e-commerce, Huawei Cloud has developed the B.R.A.N.D. model to assist retailers in driving innovation and growth. Through professional services, deterministic operations, security, reliability, and 16 sub-scenario solutions, B.R.A.N.D. enables retailers to build agile, efficient, and secure business systems.

In terms of ecosystem expansion, Huawei Cloud has partnered with Station F, the world’s largest startup incubator, to launch a sustainability-themed incubation program. This program aims to provide comprehensive support for startups, including cloud resources, investment opportunities, and dedicated office spaces. Additionally, Huawei Cloud and 20 ecosystem partners have unveiled the Industry Partner Innovation Program at the summit.

This two-day event features a packed agenda, including the partner forum and the Cloud Native Elite Club (CNEC) roundtable. At this year’s HUAWEI CONNECT Europe, CNEC returned to Europe and invited its first members to join this technical community built for European technology pioneers.

Photo – https://mma.prnewswire.com/media/2558479/image_1.jpg

Photo – https://mma.prnewswire.com/media/2558480/image_2.jpg

Photo – https://mma.prnewswire.com/media/2558481/image_3.jpg

View original content:https://www.prnewswire.co.uk/news-releases/huawei-cloud-in-france-building-an-ai-native-cloud-to-amplify-intelligence-on-the-tech-stage-302306351.html

Continue Reading

Technology

ALBERT GAHFI, NEWCO CAPITAL GROUP CEO, NOMINATED FOR THE U.S. FINTECH AWARDS’ INNOVATOR OF THE YEAR

Published

39 minutes ago

on

November 14, 2024

By

NEW YORK, Nov. 14, 2024 /PRNewswire/ — NewCo Capital Group is proud to announce that Albert Gahfi, CEO of NewCo Capital Group and Co-Founder and Director of Bizcap, has been nominated for the prestigious Innovator of the Year Award by the U.S. FinTech Awards. This recognition highlights Albert’s groundbreaking contributions to the FinTech sector and his dedication to founding companies that empower small businesses with forward-thinking capital solutions.

We are focused on what’s next—continuing to build the tools and services that will drive the future of FinTech

As a proven enterprise-building founder and CEO, Albert co-founded Kings Cash Group and oversaw its merger with a large FinTech consortium that included an SEC-registered fund. As the Co-Founder and CEO of NewCo Capital Group, Capytal.com, and NewCo Canada, as well as the co-founder of Melbourne-based BizCap, Albert’s global expansion strategy has led to the opening of offices in New Zealand, the United Kingdom, and a recently announced strategic initiative in Asia via Singapore.

The nomination for Innovator of the Year underscores NewCo’s commitment to reshaping how small-to-medium businesses and enterprise companies access financing. Since its founding, NewCo has remained at the forefront of Specialty Finance within the FinTech sector, continually creating custom capital solutions that leverage advanced technology, nuanced underwriting, and a deep understanding of client needs.

Bruce Gurvitsch, Chief Revenue Officer for NewCo Capital Group and Capytal.com, commended the nomination, stating, “Albert’s nomination for Innovator of the Year reflects his unwavering pursuit of excellence—a drive that defines our mission at NewCo. We’re committed to pushing the boundaries of what’s possible in FinTech, ensuring that SMBs have access to the capital they need for growth, job creation, and long-term success.”

NewCo and its affiliate companies have transformed traditional financing models, making it easier, faster, and more efficient for businesses to secure funding. With over $1.8 billion deployed across 40,000+ businesses globally, NewCo continues to lead the charge in specialized financing and working capital.

Reflecting on the nomination, Gahfi remarked, ‘This recognition from the U.S. FinTech Awards validates our efforts and inspires us to continue delivering the most innovative solutions to the market.’ He emphasized NewCo’s long-term vision, adding, ‘We are focused on what’s next—continuing to build the tools and services that will drive the future of FinTech. Our mission has always been to empower small businesses globally.’

For more information about NewCo Capital Group, visit www.NewCoCapitalGroup.com or email Info@NewCoCapitalGroup.com.

About NewCo Capital Group & Capytal.com

Founded in 2020, NewCo Capital Group and its affiliate companies empower SMBs globally with fast, accessible financing and funding. The companies have successfully deployed $1.8 billion to over 40,000 SMBs while maintaining a 4.9/5 Trustpilot rating.

View original content to download multimedia:https://www.prnewswire.com/news-releases/albert-gahfi-newco-capital-group-ceo-nominated-for-the-us-fintech-awards-innovator-of-the-year-302306356.html

SOURCE NewCo Capital Group

Continue Reading

Technology

Enrollsy Unveils Brand Refresh and New Website to Enhance Enrollment Experience for Schools, Camps, Nonprofits, and More

Published

39 minutes ago

on

November 14, 2024

By

LEHI, Utah, Nov. 14, 2024 /PRNewswire/ — Enrollsy, the platform dedicated to making enrollment simple and accessible for organizations of all sizes, is thrilled to announce its brand refresh and launch of a new website at www.enrollsy.com. With a renewed focus on simplifying enrollment processes and delivering unparalleled support, Enrollsy’s brand refresh reinforces its commitment to empowering non-technical professionals with a seamless, user-friendly experience.

Enrollsy is online enrollment software made easy.

The name “Enrollsy” reflects the platform’s mission: combining “enroll” and “easy” to describe a solution that effortlessly manages the enrollment process—from sign-up to payments and communications—without requiring technical expertise or IT support. Enrollsy’s customizable platform is designed to solve enrollment challenges and make life easier for administrators everywhere.

Empowering Purpose, Mission, Vision, and Values

Driven by a purpose to create an exceptional experience from the first interaction to ongoing support, Enrollsy ensures every aspect of its service is tailored to customer needs. Enrollsy’s mission—to provide an amazing enrollment experience to 10 million people in a single year—drives the platform to innovate, simplify, and perfect enrollment solutions for organizations managing data, payments, and communications.

Enrollsy envisions a world where education, enrichment, and connection drive better outcomes, helping organizations fulfill their missions. As a trusted partner, Enrollsy shares its values with customers by prioritizing consistency, honoring commitments, and maintaining clear, actionable communication.

Unmatched Customer Experiences

Enrollsy’s brand refresh also highlights its commitment to delivering value through real-life customer success stories. Elizabeth Fizer, owner of Fizer Fine Art, shares, “Enrollsy transformed our registration process from an absolute nightmare to easily manageable. Their unmatched customer service and ability to tailor the software to meet our specific needs allowed us to offer flexible schedules and simplified invoicing—enabling me to focus on my family during a busy registration period. Parents found it easy and intuitive, which only enhanced our customer experience.”

Similarly, Matthew Vinson from Common Ground on the Hill, a nonprofit, noted, “Enrollsy exceeded our expectations by listening to our unique needs and creating a system that integrates with our existing applications seamlessly. They understood our operations and provided features we needed, making the registration process efficient and stress-free.”

Visit the New Enrollsy Website

Enrollsy’s reimagined website offers a refreshed look at how the platform simplifies enrollment, billing, and communication for education, enrichment, and nonprofit organizations across the U.S., Australia, and Canada. Visitors are invited to explore www.enrollsy.com to discover how Enrollsy’s solutions are transforming the enrollment experience and simplifying administrative processes.

About Enrollsy Enrollsy provides a complete, easy-to-use solution for managing enrollments, payments, and participant communications. Designed for non-technical professionals, Enrollsy’s mission is to simplify enrollment for organizations while delivering unmatched support and flexibility. Visit www.enrollsy.com to learn more about how Enrollsy is shaping the future of enrollment.

View original content to download multimedia:https://www.prnewswire.com/news-releases/enrollsy-unveils-brand-refresh-and-new-website-to-enhance-enrollment-experience-for-schools-camps-nonprofits-and-more-302306358.html

SOURCE Enrollsy, Inc.

Continue Reading

Trending