Cuentas Introduces David B. Schottenstein as New Independent Board Member Following Uplisting to NASDAQ

Rhea-AI Summary

Cuentas, Inc. (NASDAQ:CUEN, CUENW) has welcomed David B. Schottenstein as an independent board member following its uplisting to NASDAQ. Schottenstein brings a wealth of entrepreneurial experience, having founded and sold several successful businesses, including Privé Revaux, a luxury eyewear brand valued over $100 million. His expertise is expected to enhance Cuentas' strategic direction, particularly in serving the underbanked Hispanic and Latino communities through innovative mobile banking solutions.

Positive

• David Schottenstein's appointment provides new leadership and a wealth of entrepreneurial experience.
• Schottenstein has a proven track record in building successful businesses, which may enhance Cuentas' growth.

Negative

• None.

MIAMI, FL / ACCESSWIRE / February 10, 2021 / Cuentas, Inc. (NASDAQ:CUEN) & (NASDAQ:CUENW) ("Cuentas"), a leading FinTech provider of mobile banking and payment solutions focused on Hispanic and Latino communities is proud to introduce David B. Schottenstein as a new independent board member officially installed as a condition to Cuentas recent NASDAQ uplisting.

David Schottenstein is an extremely noteworthy entrepreneur who has created, invested and sold many successful businesses from ASTOR & BLACK, VIEWABILL, ONE WHEEL, MIZZEN AND MAIN to name just a few.

In 2017, Schottenstein set his sights on disrupting the luxury eyewear market with the launch of Privé Revaux. Driven by his passion for style and quality, and the belief that designer eyewear shouldn't be a luxury reserved for a select few, Schottenstein established an elite team that included celebrity partners Jamie Foxx, Ashley Benson and Hailee Steinfeld as well as VP of Celebrity Relations Dave Osokow and Creative Directors Rob Zangardi and Mariel Haenn. The fashion-forward, high-quality range of eyewear that retails starting at $29.95 became an instant hit amongst consumers, influencers and celebrities like Jennifer Lopez, Katie Holmes, Blake Lively, Matthew McConaughey, George Clooney. To date, Privé Revaux has successfully expanded their assortment from traditional sunglasses into anti-blue light glasses and reading glasses, as well as debuted capsule collections with supermodel Adriana Lima, brand partner Ashley Benson, actresses Madelaine Petsch and Dove Cameron. Privé Revaux has rapidly grown their successful direct-to-consumer offering nationally into major department stores and retailers including Kohl's, Dillard's, America's Best Contacts & Eyeglasses and all of National Vision's multiple banner locations, QVC, and many others. In February 2020, Safilo Group, a leader in the global eyewear space, acquired a majority stake in the business, valuing the young business at over $100 million before it's 3rd birthday.

The Cuentas Mobile App and Mobile Wallet provide a comprehensive financial solution, providing access to the US financial system to those unable to open a traditional bank account or who prefer not to bank at a traditional financial institution.

"We are thrilled to have David join the board of Cuentas. David has a very unique skill set, thought process and rich background in company growth. We are excited to have him share his knowledge and many talents with Cuentas, providing us with insight and guidance that will be invaluable for our continued success and growth", stated Arik Maimon, Chairman & CEO of Cuentas.

About Cuentas

Cuentas, Inc. (NASDAQ:CUEN) & (NASDAQ:CUENW) is a FinTech e-banking and e-commerce service provider with proprietary technology aimed at providing solutions for the underbanked and un-banked Hispanic and Latino population. Its services include, but are not limited to, mobile banking, online banking, prepaid debit, ACH and mobile deposits, cash remittance, peer to peer money transferring, and providing access to bank accounts for customers who previously could not obtain bank accounts. The proprietary Cuentas General Purpose Reloadable (GPR) Card provides holders with a digital wallet, discounts for purchases at major physical and online retailers, rewards, and the ability to purchase digital content. For more information, visit https://cuentas.com

Forward-Looking Statements

This news release contains "forward-looking statements", as that term is defined in section 27a of the United States Securities Act of 1933, as amended, and section 21e of the United States Securities Exchange Act of 1934, as amended. Statements in this press release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations, or intentions regarding the future. Except for the historical information presented herein, matters discussed in this news release contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Statements that are not historical facts, including statements that are preceded by, followed by, or that include such words as "believe", "plan" or "expect" or similar statements are forward-looking statements.

Investor Relations
Cuentas, Inc.
800-611-3622
info@cuentas.com

SOURCE: Cuentas, Inc.

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FAQ

What recent board change occurred at Cuentas?

Cuentas introduced David B. Schottenstein as a new independent board member.

What is the significance of David Schottenstein's appointment for Cuentas?

His entrepreneurial experience is expected to provide valuable insights and guidance for Cuentas' growth.

When did Cuentas uplist to NASDAQ?

Cuentas' uplisting to NASDAQ occurred prior to David Schottenstein's appointment on February 10, 2021.

How does David Schottenstein's background benefit Cuentas?

He has a successful background in entrepreneurship, particularly in the consumer products sector, which may help drive Cuentas' strategy.