Victory Square Provides Corporate Update on the Strong Performance of Portfolio Companies

  • Victory Square (VST) builds, acquires and invests in promising startups, then provides the senior leadership and resources needed to fast-track growth.
  • 20+ portfolio companies that represent pillars of the future economy: digital health and diagnostics, artificial intelligence (AI), machine learning (ML), augmented and virtual reality (AR and VR), internet of things (IOT), cyber security, blockchain and more.
  • VST ended the quarter with a strong balance sheet with $1,683,991 in cash and cash equivalents. The Company also has access to a $10,000,000 convertible note for operational and growth capital.

VANCOUVER, British Columbia, Sept. 17, 2020 (GLOBE NEWSWIRE) -- Victory Square Technologies Inc. (“Victory Square” or the “Company”) (CSE:VST) (OTC:VSQTF) (FWB:6F6), a company that builds and invests in cutting-edge technology that is shaping the 4th Industrial Revolution, today provided a corporate update on the strong performance of its portfolio companies.

During the first half of 2020, VST’s portfolio companies achieved significant milestones in terms of revenue growth, product development, and customer acquisition. 

“We were founded to give investors ground-floor access to the next generation of unicorn technology companies, before they’re unicorns,” said Shafin Diamond Tejani, CEO of Victory Square Technologies. “This is as much a priority today as it was 20 years ago. As big tech has surged during the pandemic, so many investors have been left on the sidelines, lamenting the inability to get in earlier on Amazon, Facebook, Alphabet and other tech giants. Our mission remains to democratize this kind of access to tech’s next big thing.”

Victory Square’s portfolio consists of companies powering the 4th Industrial Revolution, the wholesale transformation of society brought about by connected, digital technologies. Our businesses are not built around short-term plays or fleeting trends. 20+ portfolio companies that represent pillars of the future economy: digital health and diagnostics, artificial intelligence (AI), machine learning (ML), augmented and virtual reality (AR and VR), internet of things (IOT), cyber security, blockchain and more. The current crisis has already validated and accelerated many of the verticals and technologies that Victory Square invests in.

Here Are Some Highlights on 15 of Our Portfolio Companies:

Victory Square Health Inc. (Vertical: Digital Health, Diagnostics)
Victory Square Health Inc. was founded in 2016 to accelerate the development of personalized medicine and technology solutions including diagnostic tests to support patient’s care and improve health outcomes. Its first product, the Leishmaniasis Rapid Test, was developed in partnership with the UFMG, Federal University of Minas Gerais. Safetest took advantage of its expertise in the subject to develop other antibody-based tests and a robust R&D pipelines of diagnostic kits for Hansen’s Disease, Brucellosis, HTLV and Blood samples screening tests.


  • Safetest Covid-19™ test enables the user to verify whether they are currently infected, have been infected or have never been infected with Covid-19.
  • Victory Square Health received US FDA permission to commence marketing, sales and distribution of Safetest Covid-19 Antibody Elisa Test under EUA.
  • Victory Square Health received Anvisa approval for Sale & Use of Safetest Covid-19 Antibody Elisa Test for the Country of Brazil.
  • First company to be approved in the Ideiagov program supported by the São Paulo State Government for immediate trials and application in the State.
  • Victory Square Health received CE from EU competent authority of Belgium for Safetest Elisa antibody test for distribution, sale, and usage throughout the 27 countries in the European Union. 

Immersive Tech (Vertical: VR/AR/MR)
Immersive Tech designs, programs, builds and installs immersive and engaging experiences for some of the world’s leading companies for a variety of purposes such as brand engagement, revenue generation, and corporate training. Through a blend of video game development, theme park engineering and the latest VR/AR/MR technologies, the company has amassed a portfolio of global brands.


  • Recently completed new projects with three large multinational corporations (Capital One, Bayer, BioMérieux).
  • Won the 2019 Startup Canada High-Growth Entrepreneurship category.
  • Immersive new product presents the ultimate 5D experience that is 100% portable and brings major returns to the operator. Step inside a fully immersive AR experience as guests board Covid-19 safe teams as they are transported to one of over a dozen AR custom experiences including: Tourism attractions, Haunted Halloween, Santa’s village, The Temple of Doom, Peter’s Easter Land, The Sahara Desert, Commercial Events and Tradeshows and many more!
  • Aiming for a direct listing by Q4 2020/Q1 2021.

FansUnite Entertainment Inc. (Vertical: Sports Betting, eSports, Gaming)
FansUnite Entertainment Inc. (“FansUnite”) is a sports and entertainment company, focusing on technology related to regulated and lawful online gaming in sports, esports and casino. In addition to providing underlying technology, FansUnite operates multiple growing B2C brands. FansUnite adds value by acquiring and growing its gaming portfolio with high growth assets in new or developing markets.


  • Completed two financings totalling $8.3 million, with an oversubscribed brokered private placement led by Canaccord Genuity.
  • Acquisition of Askott Entertainment, a leading esports betting technology platform.
  • Acquisition of Mcbookie, a U.K. based sports book that has generated over $340M CAD in betting volume since inception.
  • Partnered with US based GameCo LLC to bring Askott technology into the US market.

CoPilot Advisor (Vertical: Automation, Artificial Intelligence)
CoPilot Advisor uses cutting edge A.I. technology to help sales teams automatically target qualified prospects on social media, initiate one-to-one conversations, and surface timely sales opportunities without requiring any “content marketing,” spam emails, or any advertising.


  • 150% YOY growth over the past 12 months.
  • Clients include: MassMutual, Merrill Lynch, UBS, and New York Life, and more.
  • Finalist for the 2019 Technology Impact Awards for Company of the Year – Startup Success.

V2 Games Inc. (Vertical: Mobile Gaming, eSports)
V2 Games is a video and mobile game ventures firm focusing on royalty investments in high-value gaming projects featuring globally-recognized intellectual properties. The company generates cash flow by streaming revenue share from recognizable gaming projects.


  • Projects include: Pacific Rim: Breach Wars, Rune: Ragnarok, Men In Black and Hello Kitty.
  • V2 Games previously developed the hit mobile game PAC-MAN Bounce, which got over 20 million downloads.
  • Aiming for a direct listing by Q4 2020/Q1 2021. (Vertical: Cloud Infrastructure, Cloud Management)
Taloflow’s prediction engine reveals the cost of every cloud process in real-time, it’s an AI autopilot for cloud resource management that saves companies up to 40% on Amazon Web Services (“AWS”). Investors include: Victory Square Technologies; Plug and Play Ventures; Scott Belsky, Venture Partner at Benchmark; Ian Wong, Co-founder of Opendoor; David Tedman, co-founder of Hootsuite and Invoke; Ross Wightman, founding engineer of Avigilon; and John Seely Brown, Co-Chairman of Deloitte Edge.

Multapplied Networks (Vertical: SD-WAN) 
Multapplied Networks Inc. develops and sells a proprietary Software-Defined Wide Area Network (“SD-WAN”) platform that Cloud and Managed Service Providers white-label and run in their infrastructure to improve visibility and control over end-customer experiences of their hosted, managed applications and drive customer acquisition, retention and brand. Monthly recurring revenue has increased 12% from FY2019.

Shape Immersive (Vertical: Augmented Reality, 3D Ecommerce)
Shape Immersive creates the value layer of spatial computing for the world’s top retailers and ecommerce brands. Our 3D commerce solution helps our customers increase conversion rates, drive more sales and reduce return rates with 3D and augmented reality technology. Clients include: Nike, Amazon, Lululemon, Disney, Intel, Red bull, TED, Uniqlo.

Aspen Technologies (Vertical: Cybersecurity)
Aspen is pioneering a cyber security offering for the new Work-From-Home (WFH) Covid-19 business world. Aspen delivers entrepreneurs and business professionals a way to ensure maximum productivity while collaborating through the cloud with colleagues, partners and customers.

Grow Tech Labs (Vertical: Plant-based Science)
GTL is a Plant-Based Science company focused on the R&D of cannabis and psychoactive compounds from both plant-based compounds and fungi as well as the development of skin products from plant-based derivatives.

Covalent (Vertical: Fintech)
Covalent is solving a large infrastructure problem that is inhibiting blockchain adoption. Fixing these problems will exponentially increase access to and adoption of distributed blockchain technologies for enterprise and consumer use cases.

Victory Square Entertainment (Vertical: Film, TV, Digital Content)
VSE was established to strengthen the VST presence in film, TV and other digital related content. VSE has three main areas of focus, script development, financing and production. Since inception, VSE has financed and produced three films which include Dragged Across the Concrete featuring Mel Gibson and Vince Vaughn, What They Had featuring two time academy award winner Hillary Swank and The Opening Act featuring Jimmy O. Yang, Cedric the Entertainer and Ken Jeong. 

CloudAdvisors (Vertical: Insurance Tech)
CloudAdvisors is one of the top InsurTech solutions in North America, powering the next-generation of Employee Benefit Advisors. CloudAdvisors connect insurance advisors with marketplace data and the best tools in a secure digital platform for an enhanced client experience. Through digital client management, on-demand insights, automated reporting, governance and compliance, CloudAdvisors create an accessible and intelligent robo-advice assistant for better insurance advice.

Compression.AI (Vertical: Artificial Intelligence, Machine Learning)
Accelerating businesses’ digital experiences, Compression AI utilizes its proprietary neural networks to tailor compression algorithms to each and every input resulting in compressed data sizes as little as 10% of the originals. This results in non-terrestrial, agriculture, energy and manufacturing gaining the ability to rapidly assess, audit and act on oceans of data to improve their business competitiveness.

VS Digital Health Inc. (Vertical: Digital Health, Diagnostics Distribution)
A 360-degree healthcare offering smart, connected devices, at-home diagnostic tests, personalized digital guidance and monitoring, 24x7x365 access to health care professionals, and prescription delivery. The mission for the company is to make it easier for people with chronic conditions to stay healthier. VS Digital Health has an exclusive distribution right for all Victory Square health’s diagnostic tests in North America, Europe, Middle East, India, Malaysia and Indonesia.

Finally, VST integrates a strong ESG (environmental, social and corporate governance) component throughout its operations. Our portfolio highlights minority entrepreneurs, often overlooked by traditional investors, including many from developing countries. We also have an explicit philanthropic mandate to support vulnerable youth in securing access to education, healthcare housing and nutritious food. Over the years, VST has donated more than 10,000 volunteer hours and helped raise more than $88 million in support of these causes.

Victory Square will continue to update shareholders on all significant advancements of portfolio companies through upcoming press releases and the company’s official website.

Check out and sign up to VST’s official newsletter at


The Company is not making any express or implied claims that its product has the ability to eliminate, cure or contain the Covid-19 (or SARS-2 Coronavirus) at this time.

On behalf of the board,

Shafin Diamond Tejani

Chief Executive Officer

Victory Square Technologies

For further information about the Company, please contact:

Investor Relations Contact – Alex Tzilios


Telephone: 778-867-0482

Media Relations Contact – Howard Blank, Director


Telephone: 604-928-6066


Victory Square (VST) builds, acquires and invests in promising startups, then provides the senior leadership and resources needed to fast-track growth. The result: rapid scale-up and monetization, with a solid track record of public and private exits.

VST’s sweet spot is the cutting-edge tech that’s shaping the 4th Industrial Revolution. Our portfolio consists of 20 global companies using AI, VR/AR and blockchain to disrupt sectors as diverse as fintech, insurance, health and gaming.

What we do differently for startups

VST isn’t just another investor. With real skin in the game, we’re committed to ensuring each company in our portfolio succeeds. Our secret sauce starts with selecting startups that have real solutions, not just ideas. We pair you with senior talent in product, engineering, customer acquisition and more. Then we let you do what you do best — build, innovate and disrupt. In 24-36 months, you’ll scale and be ready to monetize.

What we do differently for investors

VST is a publicly-traded company headquartered in Vancouver, Canada, and listed on the Canadian Securities Exchange (VST), Frankfurt Exchange (6F6) and the OTCQX (VSQTF).

For investors, we offer early-stage access to the next unicorns before they’re unicorns.

Our portfolio represents a uniquely liquid and secure way for investors to get access to the latest cutting-edge technologies. Because we focus on market-ready solutions that scale quickly, we’re able to provide strong and stable returns while also tapping into emerging global trends with big upsides. For more information, please visit

Forward Looking Statement

This news release contains “forward-looking information” within the meaning of applicable securities laws relating to the outlook of the business of Victory Square, including, without limitation, statements relating to future performance, execution of business strategy, future growth, business prospects and opportunities of Victory Square and its related subsidiaries, including Victory Square Health Inc., and other factors beyond our control. Such forward-looking statements may, without limitation, be preceded by, followed by, or include words such as “believes”, “expects”, “anticipates”, “estimates”, “intends”, “plans”, “continues”, “project”, “potential”, “possible”, “contemplate”, “seek”, “goal”, or similar expressions, or may employ such future or conditional verbs as “may”, “might”, “will”, “could”, “should” or “would”, or may otherwise be indicated as forward-looking statements by grammatical construction, phrasing or context. All statements other than statements of historical facts contained in this news release are forward-looking statements. Forward-looking information is based on certain key expectations and assumptions made by the management of Victory Square. Although Victory Square believes that the expectations and assumptions on which such forward looking information is based are reasonable, undue reliance should not be placed on them because Victory Square can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. The statements contained in this news release are made as of the date of this news release. Victory Square disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws. The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.

The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.