Positive Cash Flow Anticipated by September
San Francisco, July 26, 2023 (GLOBE NEWSWIRE) -- RocketFuel, Inc. (OTCQB: RKFL) (“RocketFuel” or the “Company”), a global provider of payment solutions via ACH bank transfers, Bitcoin and other cryptocurrencies, announced a 15-fold increase in customer traction in 30 days, driven by the successful launch of new products and the acquisition of three large-scale customers.
The company has experienced a substantial increase in transaction volume, soaring from 110 transactions per day in June 2023 to 1,600 transactions per day in July 2023. This represents an growth of approximately 1,500% in a month.
"We're excited about the immediate traction our new products are delivering," said Peter Jensen, Rocketfuel's CEO. "This significant upswing in customer engagement demonstrates the market's enthusiastic response to our innovative solutions."
As customers’ rollout continues, Rocketfuel believes that its growth trajectory places it on track to achieve positive cash flow by September 2023. The company attributes its success to the launch of new products, including the highly anticipated 'Payouts' feature, and the addition of three new major customers. Furthermore, a robust pipeline of potential customers promises to sustain this growth throughout the remainder of the fiscal year.
"We're ramping up our capacity to allow for onboarding additional customers in the pipeline to continue growth," added Jensen. "We believe that our commitment to innovation and customer-centric solutions sets us apart in the payment infrastructure landscape."
Rocketfuel will share more details about its growth strategy and upcoming plans in a future Investor Relations Webinar. The company continues to make strides in its mission to revolutionize financial transactions with its cutting-edge blockchain technology.
About RocketFuel
RocketFuel is a global payments infrastructure company that provides modern blockchain based solutions for moving money between businesses and consumers faster, cheaper, and more securely. Its Pay-In product offers shoppers a simple, easy-to-use, one-click checkout process that accepts payments with bank transfers, Bitcoin and 160+ cryptocurrencies. RocketFuel delivers a highly secure and efficient shopping cart experience with significantly low fees for merchants, along with the benefits of no chargebacks and no card declines. RocketFuel also offers payouts, B2B cross-border crypto payment solutions, invoicing and a crypto payments service, and is developing a point-based loyalty program. More information about RocketFuel is available at: www.rocketfuel.inc
Forward-Looking Statements Disclaimer:
The Company believes that this press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Terms such as “may,” “might,” “would,” “should,” “could,” “project,” “estimate,” “pro-forma,” “predict,” “potential,” “strategy,” “anticipate,” “attempt,” “develop,” “plan,” “help,” “believe,” “continue,” “intend,” “expect,” “future,” and terms of similar import (including the negative of any of these terms) may identify forward-looking statements. Such forward-looking statements, including but not limited to statements regarding the plans and objectives of management for future operations, are based on management’s current expectations and are subject to risks and uncertainties that could cause results to differ materially from the forward-looking statements. Actual results and the timing of certain events and circumstances may differ materially from those described by the forward-looking statements as a result of these risks and uncertainties. Factors that may influence or contribute to the accuracy of the forward-looking statements or cause actual results to differ materially from expected or desired results may include, without limitation, market acceptance of the company’s products and services; competition from existing products or new products that may emerge; the implementation of the company’s business model and strategic plans for its business and our products; estimates of the company’s future revenue, expenses, capital requirements and need for financing; current and future government regulations; and developments relating to the company’s competitors. Readers are cautioned not to place undue reliance on forward-looking statements because of the risks and uncertainties related to them. For further information on such risks and uncertainties, you are encouraged to review the Company's filings with the Securities and Exchange Commission ("SEC"), including its Annual Report on Form 10-K for the fiscal year ended March 31, 2022 and its Quarterly Reports on Form 10-Q for the fiscal periods ended June 30, 2022, September 30, 2022 and December 31, 2022. The Company assumes no obligation to update any forward-looking statements as a result of new information or future events or developments, except as required by law.
For more information, please contact: monica.t@rocketfuel.inc
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