Another partnership signed...slowly moving in the right direction. Debt warehouse next milestone, may not make pre Christmas as expected but these things take time. After DW, Revenue growth this qrt and next should be interesting.

https://www.cirralto.com.au/news/2021/12/22/cirralto-signs-strategic-partnership-with-australian-agri-finance-to-grow-farm-lending-services#

Another great announcement today.

Another webinar AF is also taking part in today at 2pm today.

CIRRALTO SIGNS BINDING AGREEMENT TO PROVIDE FUNDING SERVICES TO BEVERAGE TRADING PLATFORM, EBEV 

Key Highlights

? Cirralto has signed a binding agreement with eBev to roll out funding services to eBev’s trading network.

? eBev is Australia’s largest online wholesale beverage ordering platform, connecting more than 350 venues, 700 suppliers and 12,000 licensed premises to facilitate more efficient trade between buyers and sellers within the beverage industry.

? eBev has 12,000 buyers in its network, initially services will be rolled out with a A$1m limit being 10% of expected full facility limit of $10m. The initial funding limit of A$1m is intended to be expanded to a A$3m funding limit at least 3 months after initial drawdown and subject to review, and subsequently up to a A$10m funding limit subject to review.

? The eBev platform is synergistic to Cirralto’s Spenda ecosystem in its ability to connect buyers and sellers, we see this as the first step in an ongoing relationship to provide lending and payments services to eBev’s network.

About eBev Founded in 2015, eBev is Australia’s largest independent online ordering and financing platform for the Beverage Trade. With over 65,000 products from 700 suppliers, eBev's is a 'one-stop-shop' for everything from beer, wine, and spirits to the burgeoning non-alcoholic category. Simplifying the ordering process for thousands of hospitality venues whilst reducing business administration for both venues and suppliers sees over $150 Million’s worth of orders go through the platform a year. eBev Trade now further empowers our suppliers with simplified credit functions and guaranteed payment within 3 days. https://www.ebev.com/ 

I've been following CRO for just on 12 months now.

My initial interest was sparked by the automated reconciliation functionality and thinking about the many hours this could save finance staff.

Their product offerings have grown significantly and although completely over valued ATM, they are a start up transitioning into gaining real customers and real revenue.

It's early days for the CRO team and the next quarterly will be interesting and the next 12months either providing reassurance or to run for the hills. They have rewarded themselves along the way with many shares with some large amounts due out of escrow within the 12 months. Although still an extremely risky investment, todays announcement is a small step in the right direction.

Key Highlights

? Whola and Cirralto have entered into a standard rolling contract with no fixed term to deliver services to Whola’s marketplace buyers.

? Successful roll-out of the Spenda Buy-Now-Pay-Later widget into Whola’s online marketplace, utilising Mastercard Track Business Payment Services.

? The first seven days of the initial rollout period highlighted a 60% take-up of the Pay-Later services by Whola’s marketplace customers.

? Whola has 3,000 buyers in its network, this is expected to create a payment and lend flow of $5,000,000 per month over a 12 month period assuming a 30% adoption rate.

? Cirralto receives a minimum gross fee of 2% from all transactions passed through the Whola network.

? Based on a 30% adoption rate Cirralto will receive minimum gross revenues of approximately $1.2m per annum from the Whola network.

Rather conservative figures above given the sample from the first week detailed below.

Although, there are no guarantees of adoption rate, at present adoption rates from a 10% sample of the base determined from the first week of initial use suggests a 60% adoption and utilisation rate. 

A copy of todays full announcement in the link

Spenda-BNPL-Launched-into-Whola's-Marketplace.PDF

When we talk about life changing stocks CRO is the pick for me

DISC This is my equal largest holding in IRL

Saw this on twitter, but no announcement as yet...Spenda India launch