Significant new contract win in non-telco sector

RNS Number : 5455O

Pelatro PLC

13 June 2022

 

REACH

13 June 2022

Pelatro Plc

("Pelatro" or the "Group")

Significant new contract win in non-telco sector

Pelatro Plc (AIM: PTRO), the Customer Engagement Hub software specialist, is pleased to announce its first customer in the fintech space. Pelatro's mViva has been selected by Orea Money and Banque Nationale d'investissement ("BNI") in Africa to provide its Contextual Campaign Management in a SaaS model to analyse user behaviour, generate predictions using AI/ML based models and increase revenue. The SaaS contract between Orea Money and Pelatro is valued at around US$ 1.5 million for an initial period of three years i.e. about $40,000 per month with an option to extend at the end of the initial period.

As previously reported, Pelatro has been actively working on entering the non-telco space, engaging with various businesses with a number now having expressed interest in our product. This contract in this new customer area for us builds on our extensive existing product suite and is an important strategic step for Pelatro as well as providing a further visibility on longer term income streams

Orea Money is an innovative and challenger fintech initiative of Orea Holdings in Cote d'Ivoire to facilitate a new payment experience to the citizens, combining a traditional Mobile Money ecosystem for financial transactions with next-gen services via a Market Place to enable an all-inclusive environment of payments, remittances, transfers, credit/debit cards, POS services, e-commerce, insurance, etc. Orea Money will run the above-mentioned services in Cote d'Ivoire in partnership with its banking partner, BNI.

BNI is a financial organisation that has focused on the economic development of Côte d'Ivoire for over 60 years, providing banking products and services for both businesses and individuals.

" We are delighted to partner with Pelatro for our critical business in the fintech space. We evaluated various solution providers for contextual campaign management and found Pelatro's product mViva to be the most suited for us owing to its advanced features like AI/ML, real time engagement with customers and digital capabilities ", said Mr Georges Sankara, Founder, Managing Director and CEO of Orea Holdings.

Commenting on this win, Subash Menon, Managing Director and CEO said, " We are delighted to be the partner of Orea Money and BNI. We have been focussing on banks and fintech companies as we work to roll-out our non-telco offering. This engagement strengthens our position in the financial sector and will pave the way for more contracts in the future ".

For further information contact:

Pelatro Plc
Subash Menon, Managing Director	c/o finnCap
Nic Hellyer, Chief Financial Officer
finnCap Limited (Nominated Adviser and broker to Pelatro)	[phone]
Carl Holmes/Kate Bannatyne/Milesh Hindocha (Corporate Finance)

Notes to editors

The Pelatro Group was founded in March 2013 by Subash Menon and Sudeesh Yezhuvath with the objective of offering specialised, enterprise class software solutions for customer engagement to enterprises who face a series of challenges including market maturity, saturation and customer churn.

Pelatro provides its "mViva" platform for use by customers in B2C and B2B applications and is well positioned in the Customer Engagement space. Our technology orchestrates the digital journey of the customers of enterprises through contextual, relevant and real time offers and loyalty programs across multiple channels including websites, social media, apps and others.

For more information about Pelatro, visit www.pelatro.com

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