Klevo Rewards (ASX:KLV) has completed its acquisition of Just Ask Solar Pty Ltd, securing ownership of Australian Credit Licence no. 483627 as it advances the development of its digital financial services platform.
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.
The Australian company acquired all issued shares in Just Ask Solar for $150,000 in cash, funded from existing working capital. Following completion, the business has become a wholly owned subsidiary of Klevo.
Klevo said the July 20 acquisition provides access to an Australian Credit Licence that will support the future development and commercialisation of digital financial services, including potential credit and loan-related products, subject to meeting all applicable regulatory requirements.
To support the subsidiary’s compliance obligations, the company has appointed Agata Rosalba Malgioglio as Responsible Manager of Just Ask Solar.
The next phase will involve integrating the licensed entity into Klevo’s operations while establishing the regulatory, compliance and operational frameworks required before undertaking any new credit activities.
The company said the acquisition represents an early-stage step in its broader strategy to explore consumer credit functionality, including potential crypto-linked credit products.
The latest milestone follows Klevo’s acquisition and integration of Fly Wallet, which expanded the company’s tech capabilities and product suite.
Klevo said its platform now includes white-labelled Mastercard-powered loyalty and rewards solutions, digital wallet infrastructure, card-linked rewards, customer engagement programs and digital marketing services
The company also today told shareholders that it remains focused on building scalable technology, strengthening governance and compliance capabilities, and expanding commercial partnerships across the rewards, loyalty, and payments sectors as it continues to broaden its fintech offering.
KLV is down -1.72% today, trading at 56cps.
Join the discussion: See what HotCopper users are saying about Klevo Rewards Ltd and be part of the conversations that move the markets.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.