Sekur Private Data Ltd. Announces Latin America and Caribbean Expansion Targeting Over 4 Million Businesses Market

Rhea-AI Summary

Sekur Private Data (OTCQB: SWISF) has announced its expansion into Latin America and the Caribbean, targeting a market of over 4 million businesses. The company plans to complete its enterprise version of Swiss-hosted SekurMail and SekurMessenger by Q4 2024. Sekur is expanding through partnerships in countries including Mexico, Colombia, El Salvador, Guatemala, and the Dominican Republic.

Distribution channels include America Movil's Telcel and Claro networks, with SekurMessenger featured on Telcel's website. In Colombia, Sekur has partnered with Grupo Micronet. The company expects its Enterprise solution to be available to large corporations and government entities across its markets.

Sekur has also announced the termination of its LOI with Cuentas Inc. due to unfulfilled terms. However, the company has secured alternative funding through a private placement, with the first tranche of CA$961,863 (US$712,000) closed on September 12, 2024.

Positive

• Expansion into Latin America and Caribbean market with over 4 million potential business customers
• Strategic partnerships with major telecom providers like America Movil (Telcel and Claro)
• Distribution agreement with Grupo Micronet for Spanish and Latin American markets
• Successful closure of first tranche of private placement funding (CA$961,863)

Negative

• Termination of Letter of Intent with Cuentas Inc. due to unfulfilled terms
• Enterprise version of privacy communications solutions not yet completed (expected Q4 2024)

MIAMI and TORONTO, Sept. 26, 2024 /PRNewswire/ -- Sekur Private Data Ltd. (OTCQB: SWISF) (CSE: SKUR) (FRA: GDT0) ("Sekur" or the "Company"), a leading Swiss-hosted cybersecurity and privacy communications platform, is excited to announce the expansion of its Sekur privacy communications suite into several countries across Latin America and the Caribbean, targeting a potential market of over four million businesses.

Sekur expects to complete its enterprise version of the Swiss-hosted proprietary SekurMail and SekurMessenger privacy communications solutions by the end of Q4 2024. The Company is expanding its footprint through strategic distribution partnerships across Latin America and the Caribbean, beginning with Mexico, Colombia, El Salvador, Guatemala, the Dominican Republic, and other countries in the Andean region—together representing an addressable market of over 4 million businesses. This expansion marks a significant opportunity for Sekur, as the region increasingly demands robust privacy and cybersecurity solutions.

Currently, distribution channels include America Movil through its Telcel and Claro telecommunications networks, which are already offering SekurMessenger to SMBs. In Mexico, Telcel has a subscriber base of over 84 million wireless users, and SekurMessenger is prominently featured on Telcel's website as a go-to solution for private and secure corporate communications.

In Colombia, Sekur has signed a distribution agreement with Grupo Micronet, a well-established conglomerate that sells cybersecurity solutions throughout Spain and most of Latin and Central America. The Company anticipates its Enterprise solution will be available to large corporations and government entities across all its markets, addressing the critical need for enhanced cybersecurity.

Alain Ghiai, CEO of Sekur Private Data, commented: "We are thrilled to expand our presence in Latin America, Central America, and the Caribbean. These regions have seen a significant rise in ransomware and cyberattacks in recent years, making them prime candidates for Sekur's cutting-edge solutions. We expect to see rapid growth in sales across these markets in the coming months and years. Our Enterprise solution is set to be a game changer, particularly for large corporations and government entities that need to protect themselves from escalating cyber threats."

Additionally, the Company announces the termination of its Letter of Intent (LOI) with Cuentas Inc. ("CUEN"). CUEN was unable to fulfill the terms outlined in the LOI dated May 4, 2024, which included a proposed investment of US$500,000 into the Company. However, Sekur has secured alternative funding through a private placement announced on August 26, 2024. The first tranche, amounting to CA$961,863 (US$712,000), was successfully closed and announced on September 12, 2024.

Sekur's Data privacy solutions are all hosted in Switzerland, protecting users' data from any outside data intrusion requests. In Switzerland, the right to privacy is guaranteed in article 13 of the Swiss Federal Constitution. The Federal Act on Data Protection ("FADP") of 19 June 1992 (in force since 1993) has set up a strict protection of privacy by prohibiting virtually any processing of personal data which is not expressly authorized by the data subjects. The protection is subject to the authority of the Federal Data Protection and Information Commissioner.

Under Swiss federal law, it is a crime to publish information based on leaked "secret official discussions." In 2010, the Federal Supreme Court of Switzerland found that IP addresses are personal information and that under Swiss privacy laws they may not be used to track internet usage without the knowledge of the individuals involved.

To find out more about Sekur's privacy communications solutions visit: https://sekur.com 

For more company information, please visit: https://sekurprivatedata.com

For sales brochure on our enterprise security solutions, or partnership opportunities, contact partners@sekur.com

Follow Sekur on X (@sekurprivate) and on LinkedIn

About Sekur Private Data Ltd.

Sekur Private Data Ltd. is a cybersecurity and Internet privacy provider of Swiss hosted solutions for secure and private communications. The Company distributes a suite of encrypted e-mails, secure messengers and secure communication tools. Sekur Private Data Ltd. sells its products through its own website, https://www.sekur.com, approved distributors and telecommunications companies worldwide. Sekur Private Data Ltd. serves consumers, businesses and governments worldwide. www.sekur.com or https://www.sekurprivatedata.com

Forward-Looking Information

This news release contains certain forward-looking information within the meaning of applicable Canadian securities laws ("forward-looking statements"). All statements other than statements of present or historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "anticipate", "achieve", "could", "believe", "plan", "intend", "objective", "continuous", "ongoing", "estimate", "outlook", "expect", "project" and similar words, including negatives thereof, suggesting future outcomes or that certain events or conditions "may" or "will" occur. These statements are only predictions. These statements reflect management's current estimates, beliefs, intentions and expectations; they do not guarantee future performance. Sekur cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond Sekur's control. Such factors include, among other things: risks and uncertainties relating to the future of the Company's business; the success of marketing and sales efforts of the Company; the projections prepared in house and projections delivered by channel partners; the Company's ability to complete the necessary software updates; increases in sales as a result of investments software development technology; consumer interest in the Products; future sales plans and strategies; reliance on large channel partners and expectations of renewals to ongoing agreements with these partners; anticipated events and trends; the economy and other future conditions; and other risks and uncertainties, including those described in Sekur's prospectus dated May 8, 2019, filed with the Canadian Securities Administrators and available on www.sedarplus.ca. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, Sekur undertakes no obligation to publicly update or revise forward-looking information.

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SOURCE Sekur

FAQ

What is Sekur Private Data 's expansion plan for Latin America and the Caribbean?

Sekur (SWISF) is expanding into several countries including Mexico, Colombia, El Salvador, Guatemala, and the Dominican Republic, targeting a market of over 4 million businesses with its privacy communications suite.

When will Sekur's enterprise version of SekurMail and SekurMessenger be completed?

Sekur expects to complete its enterprise version of Swiss-hosted SekurMail and SekurMessenger privacy communications solutions by the end of Q4 2024.

Who are Sekur's distribution partners in Latin America?

Sekur's distribution partners include America Movil (through Telcel and Claro networks) and Grupo Micronet in Colombia, which sells cybersecurity solutions throughout Spain and most of Latin and Central America.

What happened to Sekur's Letter of Intent with Cuentas Inc. (CUEN)?

Sekur terminated the LOI with Cuentas Inc. as CUEN was unable to fulfill the terms, including a proposed investment of US$500,000. Sekur secured alternative funding through a private placement instead.

How much funding did Sekur (SWISF) secure in its recent private placement?

Sekur closed the first tranche of its private placement, amounting to CA$961,863 (US$712,000), which was announced on September 12, 2024.