Toronto, Ontario--(Newsfile Corp. - October 19, 2023) - Tenet Fintech Group Inc. (CSE: PKK) (OTC Pink: PKKFF) ("Tenet" or the "Company"), an innovative analytics service provider and operator of the Cubeler Business Hub, is pleased to announce it has signed a lead generation agreement with leading international alternative SME lender eCapital to bring even greater funding options to Cubeler Business Hub members.
"The average size of the loans and credit facilitated on the Cubeler Business Hub in Canada as of the date of today's announcement was about $78,000, with $300,000 as the largest amount awarded on the platform," said Evrard Nkwemi, Director of Financial Institution Relationships at Cubeler. "We have actively been looking to bring more lenders to the platform, such as our Canadian chartered bank partner, with the capacity to make larger loans and extend greater credit amounts to our members in order to increase the average size of credit and attract more medium sized enterprises to the Cubeler Business Hub. With the capacity to lend or grant credit of up to USD$50,000,000 per client and their commitment to technology, not to mention the fact that they are an international lender, eCapital is exactly the type of lending partner we've been looking for. We couldn't be more excited about today's announcement and look forward to bringing their diversified credit offering to our members," added Mr. Nkwemi.
With a team of over 700 experts in the U.S., Canada and the U.K., and having already provided more than USD$36 billion dollars in funding to more than 30,000 clients operating in over 80 industries, eCapital is one of North America's largest alternative lenders.
"At eCapital we're strong believers that the future of lending is through analytics and innovative technologies," commented Oscar Rombola, Managing Director at eCapital. "We pride ourselves on being leaders of innovation and technology to produce the best possible outcomes for our clients. One look at the Cubeler Business Hub, and we knew that we had found a partner who shared similar values and our vision of the future of lending to SMEs. We believe this partnership has a great deal of potential, not just in North America but possibly in other parts of the world. So, we look forward to working with Cubeler for the benefit of our mutual interests and the interests of SMEs around the world," concluded Mr. Rombola.
About Tenet Fintech Group Inc.:
Tenet Fintech Group Inc. is the parent company of a group of innovative financial technology (Fintech) and artificial intelligence (AI) companies. All references to Tenet in this news release, unless explicitly specified, includes Tenet and all its subsidiaries. Tenet's subsidiaries provide various analytics and AI-based services to businesses and financial institutions through the Cubeler Business Hub, a global ecosystem where analytics and AI are used to create opportunities and facilitate B2B transactions among its members.
For more information, please contact:
Tenet Fintech Group Inc.
Christina Boyd, Director, Investor Relations
416-428-9954
cboyd@tenetfintech.com
CHF Capital Markets
Cathy Hume, CEO
416-868-1079 ext.: 251
cathy@chfir.com
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