WPF Holdings Inc (OTCMKTS:WPFH) Stock Consolidates After Recent Rally
Newly acquired subsidiary of WPF Holdings Inc (OTCMKTS:WPFH), Vezbi Inc, on May 4, 2023, announced the acquisition of Ingenia AI’s digital wallet asset. Vezbi will be buying this for $10M in a cash and stock deal and integrate the same into its Super App. The purpose of this will be to give a payment solution for businesses and rebrand it as Vezbi Pay™.
Trading Data
On Friday, WPFH stock slid 7.70% to $24.93 with more than 2.38K shares, compared to volume of 526 shares. The stock moved within a range of $24.93 – 27.49 after opening trade at $27.49.
Vezbi Super App Completes $10m Acquisition of Digital Wallet
The addition of Vezbi Pay™ together with fresh Open Banking technology will enable the company to increase personalization, create a payment ecosystem for users as well as allow users to integrate financial institutions. Furthermore, it will also enable peer-to-peer direct payments with other Vezbi users.
John Corpus, Ingenia AI’s Managing Partner would be joining the board of directors of Vezbi and WPF Holdings. Previously the CEO and President of Photobucket, Corpus has also been the CIO of Mervyns as well as the Vice President of IT for Williams-Sonoma. With a wealth of experience and knowledge, both in tech and executive management, Corpus will guide in growth and development of the Vezbi Super App.
A community-driven Super App, Vezbiwas designed to consolidate and organize different facets of life in a centralized application. Vezbi is novel in its commitment to no algorithms, no data selling, and no anonymity. The firm believes that its app is the first true Super App in the United States.
