TORONTO, May 21, 2024 (GLOBE NEWSWIRE) -- Stack Capital Group Inc., (TSX:STCK and STCK.WT) is pleased to announce that Hopper, Inc. (“Hopper”), an existing portfolio holding, has entered into strategic partnership with Lotte Card, a leading Korean credit card issuer with 9+ million card members, along with 3+ million affiliated merchants, involved with card business, installment finance, and general loans.
Lotte’s travel loyalty portal with be accessible through its ‘Digi-LOCA’ app, and will feature a combination of flights, accommodations, car rentals, along with leading travel technology and fintech products – all powered by HTS - delivering a highly personalized travel offering to millions of its customers.
“Another example of an incredible global partnership for Hopper, further highlighting the strength and reputation of its HTS solution,” said Jeff Parks, CEO of Stack Capital. “HTS now accounts for two-thirds of Hopper’s business, and we anticipate that number will continue to increase. We look forward to more HTS partnership announcements in the coming months.”
To access a copy of the Hopper announcement please click here.
About Stack Capital
Stack Capital is an investment holding company and its business objective is to invest in equity, debt and/or other securities of growth-to-late-stage private businesses. Through Stack Capital, shareholders have the opportunity to gain exposure to the diversified private investment portfolio; participate in the private market; and have liquidity due to the listing of the Common Shares and Warrants on the TSX. At the same time, the public structure also allows the Company to focus its efforts on maximizing long-term performance through a portfolio of high growth businesses, which are not widely available to most Canadian investors. SC Partners Ltd. (the "Manager") has taken the initiative in creating the Company and acts as the Company's administrator and is responsible to source and advise with respect to all investments for the Company.
About Hopper
Hopper is the world's fastest-growing mobile-first travel marketplace, focused on helping customers save money and travel better. The Hopper app has over 120 million downloads and continues to capture market share around the world. By leveraging massive amounts of data and machine learning, the company has developed several unique fintech solutions that address everything from pricing volatility to trip disruptions. Through its B2B initiative, HTS (Hopper Technology Services), the company is syndicating its travel fintech products and inventory, providing companies that aspire to sell travel a differentiated consumer experience and offering. Hopper sells over $7 billion in travel and travel fintech annually, with HTS accounting for two-thirds of its business. To find out more about Hopper, visit Hopper.com.
About Lotte Card
Lotte Card is a Korean credit card company, with 9.35 million credit card members and 3.13 million affiliated merchants, conducting card business, installment finance, and general loans. Lotte Card aims to be the best companion in its customers’ lives, and its currently shifting its business model beyond traditional credit card operations, focusing on creating a new future-oriented model that maximizes convenience and benefits for customers, with 'Digi-LOCA' strategy at its core. To achieve this, Lotte Card is concentrating on introducing various curation services in the 'Digi-LOCA' application, helping customers make more valuable choices easily and quickly in their consumption decisions.
For more information, please visit our website at www.stackcapitalgroup.com or contact:
Brian Viveiros
VP, Corporate Development, and Investor Relations
647.280.3307
brian@stackcapitalgroup.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/155c59e0-48a7-404f-9035-9d0af2315d11
