Join our daily newsletter At The Bell to receive exclusive market insights
Ovanti Ltd (ASX:OVT) has knocked a second deal out of the park in Week 50 of the year, signing up US-based Ticketek competitor The Ticketing Co (TTC) onto its BNPL app Flote, set to disrupt the US retail loan market and putting the Flote brand-name in front of the eyes of American consumers.
Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.
Disclaimer: This content has been prepared as part of a partnership with OVT and is intended for informational purposes only.
Just earlier this week, the company inked a deal with a company under the umbrella of US-based and NYSE-listed credit card giant Mastercard, and Thursday’s deal with TTC also underscores the company’s ongoing ambitions to target the US market, which includes a potential NASDAQ listing.
All in all, American consumers using TTC will be able to select Flote as a payment option for tickets to events, with Flote focusing on debit and cash reliant consumers who may be left out of America’s financing ecosystem. Ovanti also pointed to TTC’s yearly business growth rate of around +30% since it was founded in 2016 in NYC.
While TTC is expected to enjoy more sales conversions, Flote – or Ovanti – is really more interested in accessing new American consumers. Integration testing is planned for Q1 CY26 with a full roll-out anticipated to coincide with Flote’s formal fully fleshed roll-out.
“The Ticketing Co shares our focus on accessibility and customer experience, while also controlling cost for merchants and consumers. By integrating Flote at checkout, we are giving ticket buyers a responsible way to spread out their liquidity and giving ticketing providers a tool to boost unique conversions from day one,” OVT CEO Peter Maher said.
OVT last traded at 0.4cps.
Join the discussion: See what HotCopper users are saying about OVT and be part of the conversations that move the markets.
