February 15, 2022 – Toronto, Ontario – Newt Corporation (“Newt” or the “Company”), an integrated platform for digital financial services, is pleased to announce it has entered into a service agreement with Wimo Telecom (“Wimo”), a mobile virtual network operator in Mexico.
Under the terms of the agreement, Wimo’s wireless products and services – such as prepaid cell phone service, mobile internet, home internet and over-the-counter wireless lines – will be added to Newt’s digital product catalogue across Mexico. Wimo’s product portfolio has been successfully integrated into Newt’s distribution network, granting Wimo access to Newt users nationally. The Company expects the B2B and B2B2C products and solutions newly added as part of this agreement to generate additional revenue and increase sales for both Newt and its B2B distributors.
Sergio Maya Alemán, Latin American CEO of Newt, stated: “We remain committed to expanding Newt’s B2B product catalogue offering, increasing our presence and growing our bottom line. This year, we expect to incorporate more mobile virtual network operators into our ecosystem,” He further stated: “Our goals are to ensure Newt’s expansion network provides a attractive value proposition to use our network, and expand our portfolio of products so we are become a leading provider across Mexico and to meet our customers’ growing needs to expand their business’ revenue.”
About Newt
Newt Corporation is a digital payment and financial services platform enabling enterprises to serve the large underbanked population in the Americas with digital financial products and services and access to credit. Newt provides a fairer, faster, accessible ecosystem that fills the credit accessibility gap and reshapes the way businesses and consumers save, move money and conduct commerce. The Company’s financial ecosystem offers mobile and digital bill payments, cross-border money transfers, digital wallet, prepaid stored value cards, and access to a large leading catalogue of digital gift cards and subscription services. Newt’s omnichannel distribution and processing capability allows consumers to conveniently connect through mobile, web, point-of-sale and Newt branded electronic payment center kiosks located across a network of merchant locations. Newt is also bringing credit financing for small to medium sized enterprises, payroll loans for consumers, credit cards, loan financing, and other credit services for those who lack access to traditional financing. For more information, visit www.newtfinancial.com
About Wimo Telecom
Wimo Telecom is a mobile virtual network operator under Altan’s network, offering cellular, mobile internet, and home internet services, based in the city of Guadalajara, Mexico. It has almost 50,000 users and two large customer service centers in Mexico. The company’s products are marketed through its own stores, offline and online (Wimotelecom, MeLi, Amazon and Claroshop), but mainly through its network of distributors. It has a projected growth of its user base by 25% in 2022. For more information, visit www.wimotelecom.com
Contact
Alyssa Barry
Investor Relations
investors@getnewt.com
Forward-Looking Information
Certain information set forth in this news release may contain forward-looking information that involve substantial known and unknown risks and uncertainties. This forward-looking information is subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to, the impact of general economic conditions, industry conditions, and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking information. The parties undertake no obligation to update forward-looking information except as otherwise may be required by applicable securities law.
