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Toronto, Ontario, April 7, 2021 – GreenBank Capital Inc. (CSE: GBC and OTCMKTS: GRNBF and FRA: 2TL) (“GreenBank” or “the Company”) is pleased to announce that it has completed the purchase of a 25% shareholding in Flex Capital (“Flex”) pursuant to GreenBank’s announcement on 11th March 2021. Flex Capital is producer of the Eflex app, designed to radically improve transaction transparency for people donating money across a variety of industries and encourage communities of donors to communicate together and develop, from football clubs to charities and everything in between.
The charity sector, for example, receives many tens of billions of dollars of donations per annum worldwide, but the level of transparency in how the money is spent is minimal, and the related gratification a donor receives – as a result of not knowing how the money they donated has tangibly helped – is therefore correspondingly small.
In contrast, if a donor knows that the money they have donated is helping a specific good cause and can actually see the manner in which their specific contribution is deployed, the level of donor gratification – and therefore willingness to help more – radically increases. The Eflex app not only provides that level of transparency, but also encourages communities of donors to develop as like-minded people see their collective donations at work, which in turn can help promote the good cause by encouraging others to join.
This level of engagement and the propensity for greater donor or membership support is expected by Eflex to be a key consideration for charity, group and community leaders as they seek to benefit from the greater support that comes from deeper engagement, and is a principal reason why Eflex is expecting strong demand for the app when it is scheduled to go live later in 2021.
Eflex is expected to generate revenue by charging a transaction fee from each transaction processed through the app and by providing service support where needed. Total transactions are expected by Eflex to eventually exceed C$1bn per annum.
Eflex have agreed to use the Zeu Technogies (CSE:ZeU) “ZeUpay” payment system. Zeu is listed on the Canadian Securities Exchange and is partly owned by St-Georges, a company in which GreenBank Capital has a substantial investment. www.ZeUniverse.com
GreenBank has the right to appoint a member to board of Flex and it has been agreed that GreenBank will (as well as having a right of first refusal on any subsequent equity issues) act as a lead advisor in any further financing and on taking Flex to a public listing.
Arnar Gunnarsson, Flex Capital CEO commented “it is very exciting for the Eflex team to be recognized by GreenBank in this way – they clearly see the potential for our product and the market-need for our unique approach and solution whilst sharing the same vision for increasing the breadth of the business and accelerating our growth.”
David Lonsdale, GreenBank CEO said “We are thrilled to be teaming up with Eflex as they seek to make the business of giving so much more rewarding, not just for the charity or club, but also for the supporter. This is the model of “giving for the future”, and we believe demand for this app could be very large indeed”.
GreenBank is a next generation merchant banking business that has a flexible low-cost overhead structure designed to maximize profitability. Our management are based in Toronto, Dallas, New York and London and are used to working across borders remotely. Our model of remote working, dynamic space and flexible contracts —rather than expensive offices, and large fixed costs – establishes GreenBank as a global merchant bank for the future, both during and after COVID19.
GreenBank is listed on the Canadian Securities Exchange, the Frankfurt Boerse and on the OTC Markets in the USA. GreenBank invests in undervalued exponential growth companies focused on building consistent capital appreciation for its shareholders.
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