Jun 2, 2022

Signed agreement with Rwandan company for governmental services and payments

SPENN has entered into an agreement with Irembo in Rwanda to enable Irembo to pay commissions to their agents via SPENN business services.

Investor News 3/2022

Irembo offers payment processing for land services, car and motor services, health services and much more to the Rwandese public, generating annual revenues of more than 8 billion Rwandan francs. Payments can be made via bank transfer, credit cards, cash, and mobile money either online or at designated Irembo agents. SPENN is working towards being added to the list of payment channels.

“Our intention is to integrate Irembo in the SPENN app, making it possible for end-users to pay for any governmental service offered via Irembo,” explains Jens Glaso, CEO of SPENN Technology.

Irembo has a network of approximately 6,000 agents throughout Rwanda which is of interest to SPENN.

“We are onboarding Irembo agents as SPENN users, which allows them to receive payments for their services via SPENN,” says Glaso.

A pilot with a group of 30 Irembo agents has been launched where these agents are onboarded to SPENN in order to receive commission payments from Irembo via SPENN. Pending the evaluation of the pilot, a scale-up to include all 6,000 Irembo agents is already planned together with Irembo.

“We would also like to have Irembo agents add SPENN services to their list of offerings,” says Glaso.

For further Information, please contact:
Jens B. Glaso, CEO SPENN Technology A/S. Phone +47 40 40 47 50, e-mail: [email protected]
Certified Adviser: Baker Tilly Corporate Finance P/S, Att.: Gert Mortensen, Partner. Phone: +45 33 45 10 00, www.bakertilly.dk

SPENN Technology A/S
CVR nr.: 26518199
Njalsgade 76, 4.
2300 København S
Tel: +45 8830 0000

About SPENN Technology A/S

In a world where 1.7 billion people are still unbanked, SPENN Technology has democratized access to financial markets by bridging the crypto sphere with traditional finance. By utilizing blockchain technology Blockbonds has created a robust real-time payment system in which everyone can manage their savings, payments, investments and loans in an honest, transparent and secure way through the SPENN App platform. Although SPENN Technology A/S is a purpose-driven company with our vision to empower people, we are also a commercial player that always strives to develop new services for our customers.

The SPENN app is an innovative and unique digital banking platform for the unbanked as well as the banked to be able to send and receive money completely cost-free, in markets where the cost of financial services is the highest in the world. SPENN is disrupting the existing mobile payment distribution channels. SPENN has recently launched new integrated services in the platform and expects to launch more crypto services going forward.

SPENN is a technology provider to banks and governments based on a Software as a Service (SaaS) solution and has grown to become a key partner for their bank partners to drive deposits and to stay in front of innovation. SPENN is helping governments regulate the unregulated utilizing new technology and visionary ideas which have ultimately solved the biggest issue within financial inclusion.

SPENN Technology A/S is listed on the Nasdaq First North Growth Market Denmark. Ticker code: SPENN


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