Klevo Rewards Ltd (ASX: KLV) has announced the completion of its acquisition of all issued shares in Just Ask Solar Pty Ltd, the holder of Australian Credit Licence No. 483627. Klevo Rewards Limited (ASX: KLV) is an Australian rewards, loyalty, and payments technology company delivering customised, subscription-based marketplace solutions for corporate clients, members, and consumers. The acquisition was finalised for a total cash consideration of $150,000, funded from the Company’s working capital, making Just Ask Solar Pty Ltd a wholly-owned subsidiary.
This strategic move provides Klevo with direct access to an Australian Credit Licence, a critical component for the continued development and commercialisation of its digital financial services platform. This platform aims to support the introduction of potential credit and loan-related products, contingent on meeting all applicable regulatory requirements. To ensure robust compliance and organisational competence, Klevo has appointed Agata Rosalba Malgioglio as the Responsible Manager of Just Ask Solar Pty Ltd.
The Company will now commence the integration of the newly licensed entity into the Klevo Group. This process involves establishing the necessary regulatory, compliance, and operational frameworks before undertaking any new credit activities. Klevo views this acquisition as an early-stage step in its broader strategy to explore consumer credit functionality, which includes potential crypto-linked credit offerings. At this stage, it is not possible to reliably quantify the financial impact of this acquisition on the Company or its securities.
In parallel with this development, Klevo is also progressing the finalisation of due diligence in relation to the proposed acquisitions of the holders of Australian Financial Services Licences, ASFIN Funds Management Pty Ltd and Point Capital Group Pty Ltd, further expanding its strategic financial service capabilities.
