CALGARY, ALBERTA and PALO ALTO, CALIFORNIA--(Marketwired - Sept. 8, 2015) - Risk Management & Payment Processing specialist Vogogo Inc. ("Vogogo") (TSX VENTURE:VGO) today announced the launch of its proprietary compliance, risk management and payment processing platform with Bitcoin exchange Celery.
The Vogogo platform provides Celery with sophisticated risk management, compliance and payment processing services to support its clients as they exchange between Bitcoin and fiat currencies.
Since being founded in early 2015, New York-based Celery has successfully targeted those new to digital currencies, building a reputation as one of the easiest ways to get started with buying and trading bitcoin. Celery has already accumulated over 10 thousand users and processed over two million dollars in volume. Notable investors in the platform include Draper Associates and BoostVC.
"This release marks the first expansion of Celery outside the US." said Celery co-founder Divya Thakur. "Vogogo's unified payments, risk and bank verification API enabled Celery's Canadian integration to be straightforward and exceptionally fast. Snowbirds, Canadian professionals and businesses that make cross-border payments in US and Canada, now have a new and highly-accessible bitcoin-based option."
"Vogogo continues to position itself as a pivotal partner to the crypto industry's largest and most influential companies as well as new, smart and dynamic organizations like Celery which are scaling rapidly and experiencing significant growth." said Vogogo CEO Geoff Gordon. "We're immensely excited to be working with each of these groups and helping to solidify the global crypto ecosystem."
As well, Vogogo reports that a total of 980,000 options have been granted to certain directors and officers of the Company, all at an exercise price of $1.20 per share. This annual grant is part of Vogogo's employee incentive and retention plan and remains subject to regulatory approval.
All of the options granted to directors and officers of Vogogo vest over a 3 year period, with 1/3 coming available after each year of service to Vogogo. All of the options are exercisable for a period of 5 years.
About Vogogo Inc.
Vogogo is a TSX Venture Exchange ("TSXV") publicly traded risk management and payment services company. Founded in 2008, Vogogo designed, built and launched its automated risk management and payment processing technology while continuing to grow its expertise in software development, technology, banking, compliance, payments and transactional risk management. Vogogo is now executing on its plan to offer its services to key global markets. The plan focuses on market opportunities where Vogogo believes it has a competitive advantage due to its experience, positioning and technology.
For further company information please view the Vogogo Media Kit.
Celery is a New York based startup focused on bitcoin services. Since it's launch in July 2015, it has processed over two million in volume with over ten thousand users. Celery's investors include Draper Associates and BoostVC.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release. None of the information contained on, or connected to, Vogogo's website is incorporated by reference herein.
None of the information contained on, or connected to, Vogogo's website is incorporated by reference herein.
Cautionary Note Regarding Forward-Looking Statements
Statements in this press release contain forward-looking. The words "will," "anticipate," "believe," "estimate," "expect," "intent," "may," "project," "should," and similar expressions are intended to be among the statements that identify forward-looking statements. The forward-looking statements are founded on the basis of expectations and assumptions made by Vogogo. Readers are cautioned that assumptions used in the preparation of such information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Vogogo. Vogogo does not have any obligation to update or revise any forward-looking statements except as expressly required by applicable securities laws.
Vogogo continues to enter into various arrangements with cryptocurrency exchanges and other payment processors, including Celery in order to integrate Vogogo's technology with such entities. There is no certainty that such integrations will result in the generation of revenues as a result of any such arrangements.