Credit Clear (ASX:CCR) signs agreement with Techub

• Credit Clear (CCR) has signed an agreement with Techub to deploy its digital platform across several existing account receivable portfolios
• Techub is a global provider of financial recovery products, based in South Africa, with clients in the region as well as in the US and the UK
• CCR’s platform will be implemented across Techub over a three month period, covering several existing account receivable portfolios
• The ASX-lister will be paid a commission on all payments made across identified portfolios, with a total pool of receivables of up to $1 billion
• Company shares have spiked 14.6 per cent to 55 cents each

Credit Clear (CCR) has signed an agreement with Techub to deploy its digital platform across several existing account receivable portfolios.

Techub is a global provider of financial recovery products, based in Johannesburg, with clients in South Africa, North America and the UK.

Under the partnering agreement, CCR’s platform will be implemented across Techub over a three month period, covering several existing account receivable portfolios.

The ASX-lister will be paid a commission on all payments made across the identified global portfolios, with a total pool of receivables of up to $1 billion.

Credit Clear will aim to have its platform ready for Techub in January 2022, with work now underway to prepare the platform for remote international deployment.

Meanwhile under the teaming agreement, Techub and Credit Clear will jointly pursue new business opportunities in other international markets.

Credit Clear CEO David Hentschke said the Techhub deal would allow CCR to begin its planned global expansion.

“Credit Clear has flagged international expansion as a key strategic growth priority. The Partnering and Teaming Agreement with Techub delivers our most significant international opportunity to date,” he said.

“The agreement allows for a deep and meaningful partnership, where Credit Clear’s industry leading digital platform, which incorporates behavioural analytics and adaptive workflows, will be put to work across multiple campaigns within Techub’s multi-billion-dollar account receivables portfolio.”

Credit Clear shares have spiked 14.6 per cent to 55 cents each at 12:17 pm AEDT.