VANCOUVER, CANADA — JUNE 5, 2019 — RentMoola Payment Solutions Inc. (RentMoola) is pleased to announce the closing of a $3.5M Preferred Share offering, with lead investments from the principals of Ayrshire Real Estate Management Inc. (Ayrshire). As part of the financing, Ayrshire will also be providing strategic and advisory services to RentMoola, which will be instrumental in ensuring the execution of RentMoola's business plan in the coming year.
In connection with the closing of the financing, Adam Rosenfeld, a partner at Ayrshire, has joined RentMoola's Board of Directors. Mr. Rosenfeld will provide additional oversight and guidance. This will contribute to the ongoing success and growth of the company.
"Our team and board look forward to working with Ayrshire as RentMoola continues to execute on its growth and revenue strategy. Ayrshire is well-known and respected in our industry and has a veteran team behind them," said Craig Burrows, Executive Chair, RentMoola.
Mr. Burrows added, "The company has started to monetize its world-class payments platform and continues to organically build on the user base every month. With funding in place, RentMoola is in a position to dramatically grow its business and provide value to shareholders."
RentMoola intends to use the net proceeds of the offering to repay existing indebtedness, for general corporate purposes, and to execute on their 2019 and 2020 growth strategy.
About RentMoola
RentMoola Payment Solutions Inc., one of North America's leading fintech companies, is changing the landscape of paying rent. RentMoola's proprietary platform allows tenants to pay rent securely online through a variety of methods, including pre-authorized debit, credit card and debit card. RentMoola also provides services to property managers and increases efficiency by allowing property managers to collect rent through a single platform.
About Ayrshire Real Estate Management Inc.
Ayrshire is a privately capitalized investment firm based in Calgary, Alberta that targets control positions in real property and related businesses and certain industrial/service operating companies. The partners of Ayrshire have transacted, developed or helped manage approximately $8B of real estate assets over their careers and have been principals or advisors on over $10B of corporate transactions and investments.
NO SECURITIES EXCHANGE NOR ANY SECURITIES REGULATOR HAS REVIEWED OR ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. These statements include the ability of RentMoola to execute on its business plan and continue to grow. There is no certainty that any of these events will occur. Although such statements are based on management's reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances.
RentMoola's securities have not been registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), or applicable state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or "U.S. Persons", as such term is defined in Regulation S under the U.S. Securities Act, absent registration or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or any jurisdiction in which such offer, solicitation or sale would be unlawful.
Additionally, there are known and unknown risk factors which could cause the RentMoola's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. All forward-looking information herein is qualified in its entirety by this cautionary statement, and RentMoola disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.
Contact
RentMoola
Allan Chau
Digital Marketing Manager
press@rentmoola.com
Trusted by North America's best property managers, RentMoola is the simple, efficient, and secure rent collection solution for property managers.
If you're a journalist and want to speak to us about a story, or ask more general questions about our service and our customers, we'd be happy to speak with you.
Please send us an email at press@rentmoola.com, or give us a call at 1-888-665-8870.
We've been featured in a variety of fantastic outlets within the tech industry and far beyond. Visit our press page for the scoop.
We would love to hear from you! Please send us an email at press@rentmoola.com, give us a call at 1-888-665-8870, or download our press kit.