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Payfare Announces First Quarter 2021 Financial ResultsRecord Quarterly Revenues Increased to More Than $5M TORONTO, May 14, 2021 /CNW/ -- Payfare Inc. ("Payfare") (TSX:PAY), a global financial technology company powering digital banking and instant payout solutions for the gig economy announced the filing of its Financial Statements ("Statements") and Management's Discussion and Analysis ("MD&A") for the Quarter ending March 31, 2021. A comprehensive discussion of Payfare's financial position and results of operations are provided in the MD&A for the Quarter ending March 31, 2021, which is filed on SEDAR and can be found at www.sedar.com. Q1 2021 Financial and Business Highlights:
"The pandemic accelerated the demand for food delivery and now, the recovery is driving the resurgence of rideshare across the U.S.," said Marco Margiotta, Payfare CEO and Founding Partner. "The inherent need for workers to have instant access to their earnings, combined with our recent IPO have provided strong catalysts for growth across our business including key new hires, product development and user acquisition." About Payfare Payfare is a global financial technology company powering digital banking and instant payment solutions for today's gig workforce. Payfare partners with leading platforms and marketplaces, such as Uber, Lyft and DoorDash, to provide financial security and inclusion for their workforce. For further information please visit www.payfare.com or contact: Su Chun or Alissa Liotti No securities regulatory authority has either approved or disapproved of the contents of this news release. This news release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale or any acceptance of an offer to buy these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. Forward-Looking Information This press release may contain forward-looking information within the meaning of applicable securities legislation, which reflects Payfare's current expectations regarding future events. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond Payfare's control, that could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Such risks include the factors discussed under "Risk Factors" in Payfare's final prospectus dated March 15, 2021. Payfare does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
View original content:http://www.prnewswire.com/news-releases/payfare-announces-first-quarter-2021-financial-results-301291469.html SOURCE Payfare |