GreenBox (NASDAQ: GBOX) Releases Fourth Quarter Fiscal 2021 Financial Report

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green box GBOX, an emerging and rapidly growing fintech company, reports its fourth quarter and full year financial results for the period ended December 31, 2021. Highlights of the report include record revenues for the company, which totaled $26.3 million for the year; an increase of $17.8 million or 208.6% over the $8.5 million reported in 2020; a nearly tenfold increase in processing volume to approximately $2 billion; and a key licensing partnership with Cross River, a respected technology infrastructure provider designed to launch a banking-as-a-service offering, which will allow the company to significantly expand its reach to potential customers, creating new channels for revenue growth.

Additionally, the company unveiled both a new ACH bulk fulfillment channel with customer engagements exceeding $50 million per month and a global initiative to expand GBOX brand awareness by working with the award-winning international agency INNOCEAN. The report also noted that the company had strengthened its balance sheet, raised growth capital with the issuance of a $100 million convertible debt financing, and accelerated its share buyback program by approving an additional $10 million. for redemption. “2021 was marked by the rapid expansion of our payment processing footprint and a record processing volume of approximately $2 billion,” said Fredi Nisan, CEO of GreenBox POS, in the press release.

“This represents nearly 10x growth over 2020, a milestone achievement that demonstrates the scalability of our technology, our growing market share, our ability to remain compliant, as well as the quality of our sales team. and our global ecosystem for our growing list of customers. This key performance indicator translated into revenue of $26.3 million for the record label in 2021, which represents a considerable growth of more than 209% compared to the revenue of the record company. year 2020. . . . Going forward, we remain highly focused on pursuing our goals of creating compliant, state-of-the-art blockchain payment solutions for the diverse, evolving, and dynamic global marketplace. Given our global expansion plans and potential acquisitions, we expect to increase our processing volume in 2022 to between $4 billion and $5 billion.

To view the full press release, visit https://ccw.fm/yqHZX

On green box POS

GreenBox is an emerging fintech company leveraging proprietary blockchain security to create custom payment solutions. The company’s applications enable a complete suite of turnkey financial products, reducing fraud and improving the efficiency of managing large-scale trade processing volumes for its merchant customers globally. For more information about the company, please visit www.GreenBoxPOS.com.

NOTICE TO INVESTORS: The latest GBOX news and updates can be found in the company’s newsroom at https://ccw.fm/GBOX

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