TORONTO, July 16,
2024 /PRNewswire/ - Payfare Inc.
("Payfare" or the "Company") (TSX: PAY) (OTCQX:
PYFRF), a leading international Earned Wage Access ("EWA")
company powering instant access to earnings and digital banking
solutions for workforces, today announced the formation of a
Strategic Advisory Board to guide the company's rapid international
expansion opportunities. This newly established board will play a
crucial role in navigating the complexities of expanding Payfare's
EWA platform into new geographies, ensuring that both prospective
and existing customers can achieve global scale efficiently and
effectively.
The first appointment to the Strategic Advisory Board is
Alex Ceballos, a seasoned strategy,
corporate development, and operating executive. Alex brings a
wealth of experience from his 16-year tenure as Vice President,
Worldwide Corporate Development at Amazon. In this role, he served
as the internal strategic advisor for Amazon Consumer Operations,
responsible for strategic investments and acquisitions across the
US, Europe, India, and the Middle East. He will assist Payfare with the
review of growth initiatives and strategic acquisition
opportunities.
Among Mr. Ceballos' key accomplishments is the orchestration of
Amazon's acquisition of Kiva Systems (now Amazon Robotics). This
acquisition transformed Amazon's logistics operations worldwide,
enabling the company to achieve Prime customer deliveries at
massive scale. His track record of acquisitions and investments
includes notable companies such as Zoox, Rivian, Aurora
Technologies, Beta Technologies, and Souq.com. In addition to his
achievements at Amazon, Alex launched the Amazon Industrial
Innovation Fund, a $1 billion
corporate venture fund aimed at accelerating the ecosystem in the
industrial automation and robotics space. Most recently, he served
as the Chief Corporate Development Officer at NuBank (one of the
world's largest digital banking platforms serving over 100 million
customers), and currently holds the position of President at Wyze
Labs, a consumer products company revolutionizing home automation
with cutting-edge AI-powered cameras and sensors for smarter, safer
living.
"We are thrilled to welcome Alex
Ceballos to our Strategic Advisory Board," said Marco Margiotta, CEO and Founding Partner of
Payfare. "His extensive experience in global strategic development
and his track record of success in leading transformational
initiatives will be invaluable as we embark on our journey of
international expansion."
In addition, Payfare is also expanding its business development,
operations and engineering teams to support its anticipated growth,
new client programs and global expansion plans.
About Payfare (TSX:PAY, OTCQX: PYFRF)
Payfare is a leading, international Earned Wage Access ("EWA")
company powering instant access to earnings through an
award-winning digital banking platform for today's workforce.
Payfare partners with leading e-commerce marketplaces, payroll
platforms, and employers to provide financial security and
inclusion for all workers.
Cautionary Statement Regarding Forward Looking
Information
Information and statements contained in this news release that
are not historical facts are "forward-looking information" within
the meaning of applicable securities legislation that involve risks
and uncertainties relating, but not limited, to Payfare's current
expectations, intentions, plans, and beliefs. Forward-looking
information can often be identified by forward-looking words such
as "anticipate", "believe", "expect", "goal", "plan", "target",
"intend", "estimate", "could", "should", "may" and "will" or the
negative of these terms or similar words suggesting future
outcomes, or other expectations, beliefs, plans, objectives,
assumptions, intentions or statements about future events or
performance. Examples of forward-looking information in this news
release include, without limitation: executing on international
expansion opportunities, expanding Payfare's EWA platform into new
geographies, and achieving global scale efficiently and effectively
for customers. These forward-looking statements are based, in part,
on assumptions and factors that may change or prove to be
incorrect, thus causing actual results, performance or achievements
to be materially different from those expressed or implied by
forward-looking information.
Security holders, potential security holders and other
prospective investors should be aware that these statements are
subject to known and unknown risks, uncertainties and other factors
that could cause actual results to differ materially from those
suggested by the forward-looking statements. Such risks include the
factors discussed from time to time in Payfare's filings with the
Canadian Securities Authorities, copies of which can be found under
Payfare's profile on the SEDAR+ website at www.sedarplus.ca.
Security holders, potential security holders and other prospective
investors are cautioned not to place undue reliance on
forward-looking information. By its nature, forward-looking
information involves numerous assumptions, inherent risks and
uncertainties, both general and specific, that contribute to the
possibility that the predictions, forecasts, projections and
various future events will not occur. Payfare undertakes no
obligation to update publicly or otherwise revise any
forward-looking information whether as a result of new information,
future events or other such factors which affect this information,
except as required by law.
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SOURCE Payfare Inc.