Readen Holding Corporation (OTC Pink: RHCO) is a listed venture capital corporation with over 30 years of activity.
The Company has a long history of engaging in the retail trade. More recently, it has been active in the Fintech, Online Payment and E-commerce industries, a vast potential growth sector es-North America. RHCO has subsidiaries and liaison offices in Europe, Asia and New Zealand.
What is Fintech?
Fintech is a blend of “financial” and “technology.” It refers to any app, software, or technology that allows people or businesses to digitally access, manage, or gain insights into their finances or make financial transactions.
Here’s an example to demonstrate and understand fintech: Apple is becoming a fintech company. The company announced several new features for the iPhone’s Wallet app at its developers’ conference Monday that directly compete with products from other fintech companies such as Affirm and PayPal. The big one is a buy now, pay later service called Apple Pay Later.
Apple*’s (NASDAQ: AAPL) payment service, Apple Pay, saw a 52% year-over-year increase in adoption during November, according to data from* Salesforce cited by Deutsche Bank analyst Bryan Keane. That was across in-store proximity payments and online payments made through Apple devices.
That’s bad news for PayPal Holdings*(NASDAQ: PYPL) and other, more established, digital wallet services. Apple is rapidly taking market share, and its fintech aspirations could stymie the growth of its rivals*. (Globe and Mail Dec 13/22)
OkePay is one of the fastest-growing payment solutions in the world. OkePay allows global payment providers to join a network to provide payment services to network users. Transactions can be processed in over 150 currencies.
READIES is an online payment method that allows people to pay anonymously in around 50 countries. READIES will enable users to pay for goods and services easily, securely and anonymously. READIES is the perfect online payment solution for those who value data security, want to keep track of their spending, or do not have a bank account or credit card.
RHCO‘s own developed OkeApp is a unique solution for consumers and merchants. As consumers receive attractive discounts through OkeApp, participating merchants incur no direct payment fees. OkePartners, who help recruit consumers, receive cash rewards for all transactions through OkeApp.
OkeApp’s methodology is revolutionary and groundbreaking in its unique preparation that benefits merchants and consumers.
Neckermann Direct is an online retail platform that targets Asian products to European consumers and offers European brands to Asian consumers.
RHCO has relaunched 2% into a global online shop with a collection of world-famous luxury brands in fashion, accessories, cosmetics and health products. It offers customers the best price worldwide and provides free shipping anywhere in the world.
Fligro is an established international fresh food trading company. With a truly worldwide perspective, Fligro sources products in the main production areas of Europe, North & South America, and the Far East.
Other Investments (Various stages of development)
Sites to Pursue
My 2-Cent Bottom Line (see how I did that?)
As said before, OkePartners are individuals, companies or charities who can share their invitation code with anyone to become OkeMembers. OkeMembers can enjoy great discounts offered by OkeMerchants. For all the spending of OkeMembers at OkeMerchants through OkeApp, the corresponding OkePartner would receive a commission of up to 5% of the discounted amount. Payments are kept close through the Company’s OkePay platform.
All in all, an impressive retail and payment infrastructure. While Investors need to dig into the Company, one wonders if there is the potential for a merger, expansion or takeover due to its solid international approach.
Trading around USD$0.02 a share, with a modest USD$3.4m market cap, seems a good way—given the assets and in-house management expertise (see below) to have a serious look.
The Company recently hired Johannes Henri Westbroek, an extremely experienced managing partner and agile business developer with a demonstrated history of working in Venture Capital, Media, Lotteries and Startups.
As the new director of European business, he is an experienced managing partner and agile business developer with a demonstrated history of working in Venture Capital, Media, Lotteries and Startups.
Even though Readen is listed on the Pinks, the risk/reward appears to skew, over time, to the latter
And now, for those more existential among us-