GreenBox Subsidiary, ChargeSavvy, Achieves Record Results During Q4 2021
GreenBox POS (NASDAQ: GBOX) ("GreenBox", the "Company"), an innovative blockchain ledger fintech company, today announced that its point-of-sale subsidiary company, ChargeSavvy, recorded the best quarter in its 9- year history, for its retail division during the fourth quarter of 2021. The retail division saw an average increase of 166% demonstrating remarkable growth compared to the same period of 2020.
ChargeSavvy was acquired by GreenBox in July 2021 due to its impressive merchant client portfolio roster and industry leading point of sale technology. By successfully assimilating ChargeSavvy operations and technology with GreenBox to drive efficiencies, in just five months, ChargeSavvy's has multiplied its book of business while improving overall profitability. Since taking over, GreenBox has enhanced the existing point of sale which has resulted in higher demand due to feature sets and dependability in transaction flow.
"ChargeSavvy's immediate and record-breaking results undoubtedly demonstrate our leadership team's ability to execute on our acquisition strategy and vision," said Fredi Nisan, Chief Executive Officer of GreenBox. "This was our first major purchase with an integration of the team, culture and operations. Adding to this mix was our guidance, foresight and technological expertise in the digital payments industry and we're seeing incredible results."
Phil Nguyen, the newly appointed Managing Director of ChargeSavvy added: "Being acquired can pose an array of challenges and uncertainty. GreenBox ensured a seamless transaction, with a smooth transition, ultimately, to position ChargeSavvy for never-before seen growth, while exhausting some obvious operational efficiencies. By working together, we quickly realized the synergies that facilitated the resurgence of our business and secure best-ever quarterly results."