Company Plans to Use Capital Raise to Expand Cuentas Fintech and Cuentas Mobile Business Divisions.

MIAMI BEACH, Fla., Aug. 31, 2023 — Cuentas, Inc. (NASDAQ:CUEN) (NASDAQ:CUENW) (“Cuentas”), the Company that is creating an alternative financial ecosystem for the underbanked and underserved segment of the population who do not have access to traditional financial and lifestyle alternatives, announces the successful capital raise of over $2 Million from investors to enable its forward-looking plan to increase revenue and profitability of Cuentas Inc.

Cuentas Management is dedicated to work towards the success of Cuentas and with this capital raise has provided financial liquidity to enable advancement of multiple projects. Cuentas has been investing additional resources into the Fintech and Mobility platforms and with the availability of additional funds expects to achieve important milestones during the upcoming months.

Cuentas expects to announce exciting advancements to its new Cuentas Money Application and financial solutions package in the near future, and are in discussions to enable lending capabilities.

“Cuentas successfully closed on the Brooksville property near Tampa, FL for $5.1 Million with majority control,” said Cuentas CEO and Co-Founder, Arik Maimon.  “Management will continue to focus to make all three Cuentas divisions to be on a secure path for success. I believe that Cuentas is a unique group in the world to provide essential services with financial inclusion, mobile services and rental apartments as solutions for the underserved population. I am proud that this Cuentas Triple Play is becoming a reality,” added Maimon.

“We are very appreciative to our investors who have shown their continued support and dedication to the success of Cuentas,” said Cuentas President and Co-Founder, Michael De Prado. “This investment of over $2 Million specifically was raised to expand the Fintech and Mobility divisions of Cuentas Inc.”, added De Prado.

About Cuentas Inc

Cuentas, Inc. (NASDAQ: CUEN & CUENW) is creating an alternative financial ecosystem for the growing population who do not have access to traditional financial alternatives. The Company’s proprietary technologies help to integrate FinTech (Financial Technology), e-finance and e-commerce services into solutions that deliver next generation digital financial services to the under-banked and underserved populations across America and eventually, the world. The Cuentas Platform integrates Cuentas Mobile, the Company’s Telecommunications solution, with CUENTAS Money, its core financial services offerings to help entire communities enter the modern financial marketplace. In Q1 of 2023 Cuentas launched Cuentas Casa, an alternative housing community development solution based on a revolutionary, patented, sustainable building system. Management believes adding this construction technology to its offerings bridges the ‘need gap’, providing a first of its kind combination of financial and lifestyle solutions to the underbanked and underserved, putting the Company in a unique position to take advantage of what has been called a Trillion-dollar opportunity .

(LINK: Nasdaq Article)
https://cuentas.com

About CUENTAS Mobile

CUENTAS Mobile is Cuentas’ first step in our plan to bring increasingly powerful and cost-efficient telecommunications solutions to those that have been unable to acquire or afford them. With a growing selection of plans and services, delivered on the nation’s largest 5G and 4G LTE network, Cuentas Mobile puts the power of the network in the palm of your hand.

(LINK: Forbes Mexico)
https://cuentasmobile.com/

About CUENTAS Casa

CUENTAS CASA’s unique approach to property development combines state-of-the-art sustainable building technology with intelligent property management systems with the goal of developing complete residential communities in a fraction of the time and at a fraction of the cost of traditional development. By selectively acquiring locations near metropolitan areas and immediately working with our partners to move into the construction phase, CUENTAS is able to pass on the savings in construction and maintenance directly to the resident. Management has seen rental prices reduced by as much as 30% over traditional residential communities.

(LINK Forbes Colombia)

About CUENTAS SDI

Cuentas SDI, LLC. is the company that owns the platform of Black011.com and the network serving over 31,000 convenience stores (“Bodegas”) in and around New York and New Jersey.  The Company is managed and controlled by The OLB Group, Inc. Cuentas Inc., is a shareholder in Cuentas SDI, LLC. Black011.com is the network that will deliver a range of services to the network’s customers, including digital incentives, promotions, gift cards, discounts, top up services, telecommunication services, money transfer solutions and other digital and physical products and solutions true the network of financial partners.

https://www.black011.com/

Forward-Looking Statements

This news release contains “forward-looking statements,” as that term is defined in section 27a of the United States Securities Act of 1933, as amended, and section 21e of the United States Securities Exchange Act of 1934, as amended. Statements in this press release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations, or intentions regarding the future. Except for the historical information presented herein, matters discussed in this news release contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Statements that are not historical facts, including statements that are preceded by, followed by, or that include such words as “believe,” “plan,” or “expect” or similar statements are forward-looking statements.

Contact Details:
Investor Relations
Cuentas, Inc.
800-611-3622
info@cuentas.com

SOURCE Cuentas, Inc.

Featured Image @ FreePik

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6) This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect management’s expectations regarding Cuentas Inc.’s future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to Cuentas Inc.’s industry; (b) market opportunity; (c) Cuentas Inc.’s business plans and strategies; (d) services that Cuentas Inc. intends to offer; (e) Cuentas Inc.’s milestone projections and targets; (f) Cuentas Inc.’s expectations regarding receipt of approval for regulatory applications; (g) Cuentas Inc.’s intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) Cuentas Inc.’s expectations with regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute Cuentas Inc.’s business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) Cuentas Inc.’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) Cuentas Inc.’s ability to enter into contractual arrangements with additional Pharmacies; (e) the accuracy of budgeted costs and expenditures; (f) Cuentas Inc.’s ability to attract and retain skilled personnel; (g) political and regulatory stability; (h) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (i) changes in applicable legislation; (j) stability in financial and capital markets; and (k) expectations regarding the level of disruption to as a result of CV-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of Cuentas Inc. to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) Cuentas Inc.’s operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as CV-19 may adversely impact Cuentas Inc.’s business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing Cuentas Inc.’s business operations (e) Cuentas Inc. may be unable to implement its growth strategy; and (f) increased competition.

Except as required by law, Cuentas Inc. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither does Cuentas Inc. nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this document. Neither Cuentas Inc. nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this document by you or any of your representatives or for omissions from the information in this document.

7) Any graphs, tables or other information demonstrating the historical performance or current or historical attributes of Cuentas Inc. or any other entity contained in this document are intended only to illustrate historical performance or current or historical attributes of Cuentas Inc. or such entities and are not necessarily indicative of future performance of Cuentas Inc. or such entities.

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