CUEN – Cuentas Releases Annual Financial Reports Reflecting Improved Business Transition Results, Revenues and Profitability

Cuentas, Inc. Reports Financial Results for YE 2023 Fueled by its Fintech, Mobile Telecom and Additional Real Estate Assets  in South Florida. Expects Imminent Closing Sale of Tampa Real Estate Asset Unlocking Remarkable Profits and Cash. 

MIAMI BEACH, FL, April 16, 2024 (GLOBE NEWSWIRE) -- Cuentas, Inc. (OTC: CUEN & CUENW) (“CUEN” or “the Company”), a pioneer driving the seamless integration of fintech, mobile telecommunications, and real estate for the unbanked and underbanked Hispanic demographic, announced today the publication of the company’s FY 2023 financial report on SEC Form 10K. The report reflects the company’s financial results supported by its diversified offerings serving consumers' comprehensive basic needs, from housing to secure communications to innovative financial services. Management comments on the imminent completion of the definitive sale of its Brooksville, Florida property. 

Successful Operations and Strict Strategy Execution

Early in 2023 the Company Board of Directors and Management planned a clear path to streamline its business and improve profits and cash flow. Throughout the fiscal year the organization has performed in line with the traced strategy. Whether in real estate, fintech or telecommunications services, the results have been tangible both in a significant shift in revenues, profits and cost reductions.

Cuentas strategically aligns its offerings with the needs of its target market, refraining from activation fees and maintaining low monthly charges. The company's approach integrates empathy and affordability, aiming to provide value to its users while ensuring profitability through various revenue channels.

Cuentas has fortified its business with a robust mobile service, Cuentas Mobile, supported by a powerful distribution ecosystem, underpinned by a meticulously developed software platform. This upgraded system, using the novel eSIM technology, is designed for reliability, and will incorporate its current Cuentas Money services.

The Company is poised for technological advancement through a forthcoming partnership with a fintech company, aiming to enhance security, marketing intelligence, and ease of use within its platform, while ensuring seamless integration and user experience.  The Cuentas Money platform will transition to a new banking partner in 2024, aiming to maintain its accessibility and functionality for its predominantly Hispanic clientele. By offering services like prepaid Mastercard accounts and mobile payments, Cuentas seeks to bridge the digital divide and cater to the unbanked and underbanked populations, leveraging its distribution network and prepaid card offerings to serve its diverse demographic.