VANCOUVER, British Columbia, Feb. 11, 2020 (GLOBE NEWSWIRE) -- Voleo Trading Systems Inc. (TRAD: TSX-V, VLEOF: OTC-QB) (“Voleo”, the “Company”), announces that its user community has set new record for account contributions while seeing club diversity and size grow.
In January, a record 65% of Voleo users contributed to their investment accounts leveraging Voleo’s simple recurring contribution feature. Voleo’s assets per funded user continues to grow with a remarkable 175% increase over the past year.
“We see our assets under management grow both from the addition of new clubs and incremental deposits from our current users,” says Glen Wilson, Interim CEO. “This demonstrated confidence in our unique social investing platform reinforces our market position and fuels our growth strategy.”
At the same time, Voleo continues to attract investors with diverse experience and backgrounds. Users range in age from 18 to 85 and 46% are women.
Glen continued, “With women representing half the population they are traditionally underrepresented in the investment space. We’re very proud that 46% of Voleo’s users are women, much higher than the average in other investment alternatives. Voleo's collaborative trading platform with club-based democratic decision-making is perfect for women to invest in stocks and take steps to close the gender wealth gap.”
Voleo’s average investment club size has grown to 10 persons, as members refer and recruit their friends and family to collaboratively invest.
“Voleo’s viral social elements enables our users to use the Wisdom of the Crowd,” says Executive Chairman Mark Morabito. “This unique model also disrupts the traditional financial institutions customer acquisition standards. By attracting club founders who then recruit their team, Voleo’s customer acquisition efforts are reduced by as much of a factor of 10.
Voleo Selected to Exhibit at the MoneyShow
Voleo exhibited at the MoneyShow 2020 in Orlando which hosted over 4500 attendees. This unique event offered an opportunity to drive registrations by showcasing the Voleo solution to investors looking to hone their investing and trading skills. The event also offered an opportunity to connect with over 100 co-exhibitors and potential partners.
About Voleo Trading Systems Inc.
Voleo is a mobile fintech company that is transforming the retail investing space through its powerful, collaborative investing platform. As the only social investing app and end to end investment club solution, Voleo has increased retail investor participation in the stock market by breaking down barriers to entry, facilitating trust and improving financial literacy. Voleo's equity trading platform operates on native iOS and Android devices, as well as a companion web application. The product is being white-labeled for financial institutions around the world as an innovative product to engage, retain and acquire retail customers.
About Voleo USA, Inc.
Voleo USA, Inc is a member of Financial Industry Regulatory Authority (FINRA) and Securities Investor Protection Corporation (SIPC). Security products are not FDIC insured, not bank guaranteed, and will fluctuate in value. We do not solicit, recommend, or offer investment advice. Check the background of Voleo USA, Inc. on FINRA's BrokerCheck.
For more information on Voleo, please visit our Investor Relations website at ir.myvoleo.com.
ON BEHALF OF THE VOLEO BOARD
“Glen Wilson”
Interim Chief Executive Officer
Voleo is part of the King & Bay group of companies. King & Bay is a merchant bank that specializes in identifying, funding, developing and supporting growth opportunities in the technology, resource, aviation, and sectors.
For further information regarding this press release, please contact:
Voleo Investor Relations
1-866-684-6730
investor.relations@myvoleo.com
Cautionary Note Regarding Forward-Looking Information
Certain statements contained in this release constitute forward-looking statements and forward-looking information (collectively referred to herein as "forward-looking statements") within the meaning of applicable Canadian securities laws. Such forward-looking statements relate to future events or Voleo Trading Systems Inc’s (the “Company”) future performance and the integration of cryptocurrency trading. All statements other than statements of historical fact may be forward-looking statements. Such forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "budget", "plan", "continue", "estimate", "expect", "forecast", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe" and similar expressions. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Voleo believes the expectations reflected in those forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this release should not be unduly relied upon. These forward-looking statements speak only as of the date of this release, or as of the date specified in the documents incorporated by reference into this release, as the case may be. In particular, this release contains forward-looking statements pertaining, but not limited to: expectations as to future operations of the Company, future market trends, growth opportunities, the Company’s go to market strategy, future partnerships, new initiatives and innovations of the Company, product offerings, the expected operations and performance of the Company’s business, expected user growth, and the timing of key development milestones.
With respect to forward-looking statements contained in this release, the Company has made assumptions regarding, among other thing: the accuracy, reliability and applicability of the Company’s business model; the timely receipt of governmental approvals, including the receipt of approval from regulators in Canada and the United States; the timely commencement of operations by the Company and the success of such operations; the ability of the Company to implement its business plan as intended; the legislative and regulatory environments of the jurisdictions where the Company will carry on business or have operations; the impact of competition; and the availability of financing to execute the business plan. The Company has included the above summary of assumptions and risks related to forward-looking statements provided in this release in order to provide investors with a more complete perspective on the Company’s current and future operations and such information may not be appropriate for other purposes.
The live Voleo platform is currently limited to U.S. residents. Investors should be aware that investing through clubs requires that members of a club vote in accordance with the conditions of their respective partnership agreements, and that other factors including platform performance, execution price, order and account access times are affected by many factors, including connectivity, market volatility, the size and type of order(s), market conditions, system performance, and other factors. Investors should carefully consider the risk profile of ETFs before investing in them, and read the prospectus from the issuer before investing in an ETF. Penny stocks may trade infrequently, which means that it may be difficult to sell penny stock shares once you own them. Moreover, because it may be difficult to find quotations for certain penny stocks, they may be difficult, or even impossible, to accurately price. For these, and other reasons, penny stocks are generally considered speculative investments. Consequently, investors in penny stocks should be prepared for the possibility that they may lose their whole investment.
Readers are cautioned that the foregoing lists of factors are not exhaustive and it would be unreasonable to rely on any such forward-looking statements and information as creating any legal rights, that the statements and information are not guarantees and may involve known and unknown risks and uncertainties, and that actual results may differ (and may differ materially) and objectives and strategies may differ or change from those expressed or implied in the forward-looking statements or information as a result of various factors. The forward-looking statements contained in this release are expressly qualified by this cautionary statement. Except as required by applicable securities laws, the Company is not under any duty and do not undertake any obligation to publicly update or revise any forward-looking statements after the date of this release or to conform such statements to actual results or to changes in the Company’s expectations and the Company disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/08223439-b07d-47c8-8d08-d57bf7a64124.