2021 Processing Volume Increase of Over 800% Versus Prior Year
Unaudited Revenue Grows to at Least $26.0 Million, an increase of Over 200% Versus Prior Year
SAN DIEGO, CA, Jan. 25, 2022 (GLOBE NEWSWIRE) -- GreenBox POS (NASDAQ: GBOX) ("GreenBox" or the "Company"), an emerging and rapidly growing fintech company announced preliminary unaudited results for 2021 with a processing record of $1.95 billion in transaction volume, compared to $202 million during the previous year. This represents a staggering increase of over 800% in processing volume, leading to revenues of at least $26.0 million, an increase of over 200%, when compared to revenues of $8.5 million in 2020.
The Company’s advanced blockchain ledger-based payment solutions product offering, combined with an expanding ISO and respected partnership network, as well as its strategic acquisition strategy to leverage a broader scope, opened the floodgates for a breakout year. This has resulted in remarkable growth for GreenBox, to not only establish their footprint in the payments industry but poise the company for further expansion across a myriad of verticals in 2022.
“2020 unquestionably proved our ability to develop and deploy cutting-edge technology. In 2021 we focused on executing on our strategy to build sustainable scale for our products, while adding new leadership team members that will drive our growth plan and establish GreenBox as a world-class brand,” said Fredi Nisan, Chief Executive Officer of GreenBox POS. “There’s a lot of pride around these 2021 results, no doubt. But, make no mistake, we remain laser-focused on molding the future of this company and our determination of becoming the global leader in the digital financial solutions marketplace.”
About GreenBox POS
GreenBox POS (NASDAQ: GBOX) is an emerging financial technology company leveraging proprietary blockchain security to build customized payment solutions. The Company's applications enable an end-to-end suite of turnkey financial products, fraud detection and improving the efficiency of handling large-scale commercial processing volumes for its merchant clients. For more information, please visit the Company's website at www.greenboxpos.com.
Forward-Looking Statements Disclaimer
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set out in the Company's SEC filings. These risks and uncertainties could cause the Company's actual results to differ materially from those indicated in the forward-looking statements.
Investor Relations Contact
Mark Schwalenberg
MZ Group - MZ North America
312-261-6430
GBOX@mzgroup.us
www.mzgroup.us
