Clip Money Inc. (TSXV:CLIP) is one of the latest new listings on the TSX Venture Exchange. Clip Money operates a multi-bank self-service deposit system for businesses through its ClipDrop Boxes giving users the capability of making deposits outside of their bank branch at top retailers and shopping malls.
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Clip Money Inc. (TSXV:CLIP) is one of the latest new listings on the TSX Venture Exchange, trading under the symbol “CLIP”.
Based in Ottawa, Ontario, Clip Money operates a multi-bank self-service deposit system for businesses through its ClipDrop Boxes that gives users the capability of making deposits outside of their bank branch at top retailers and shopping malls.
Businesses are facing increased inconvenience and additional costs associated with processing their cash deposits at physical bank branches.
These inconveniences have been multiplied by the increase in branch closures and digital bank transformations.
Many of the banks now combine business and retail customers at the same tellers further increasing business costs as their employees line up for extended periods.
With business deposits often including coins, ATM machine are not a viable option.
Rather than having to go to their personal bank branch or using a cash pickup service, businesses can deposit their cash at any ClipDrop Box located near them.
After being deposited, the funds will automatically be credited to the business' bank account, usually within one business day.
Clip Money combines functional hardware, an intuitive mobile app and an innovative cloud-based transaction engine that maximizes business banking transactions.
Combined with mobile user applications, Clip Money offers a cost-effective and convenient solution for business banking deposits in metropolitan statistical areas across Canada and the United States.
Joe Arrage, CEO and Co-Founder, stated: "The listing of our shares on the TSX Venture Exchange is an important milestone in our growth as a company. We believe the listing will allow us to gain exposure to a broad investor community and diversify our shareholder base. I would like to thank our employees, management team, directors and our many contributors for making this listing a reality for Clip Money. This is a significant step that will assist us in achieving our mission to provide improved banking services for businesses across Canada and the U.S., and ultimately enhance long-term value for shareholders."
The company recently raised gross proceeds of $8,090,000 from the placement of 8,090,000 shares priced at $1.00 per share, which included $3 million from a strategic investor.
The shares are currently trading at $1.00.
For more information, please visit the company’s website www.ClipMoney.com, contact Joseph Arrage, CEO and Co-Founder, at 844-593-2547 or by email at JArrage@ClipMoney.com.
