Vancouver, British Columbia, Canada – November 28, 2016 – Fundamental Applications Corp. (“Fundamental” or the “Company”) (CSE: FUN, FSE: 2FA, OTCQB: FUAPF), a leading developer of innovative smartphone applications targeted toward millennials, announced today it has reached an investment agreement in principle (the “Investment Agreement”) with Mo Tecnologias LLC (“MO”), an innovative nano and micro credit decision engine and issuing platform.
MO has developed a unique credit engine platform, which can reach a credit decision in less than 20 seconds without requiring the user to provide any additional information, based on user behaviors. MO plans to launch nano and micro loans in Colombia in 2017 and then expand its service to additional countries in Latin America, Africa and Asia.
Fundamental’s CEO Brad Moore states, “I am extremely excited about this partnership with MO Tecnologias as a way to monetize Foro transactions in Latin American markets supported by MO. Fundamental’s investment will place Foro as the online store front of this distinctive ecommerce solution around the world.”
Paolo Fidanza, MO’s founder and CEO states, “We are delighted that Fundamental has decided to invest in MO. We consider this a strategic investment that opens up some great synergies between the companies, given that the key target users for the MO platform are millennials and Gen Zs, who in the future will have a low cost-credit option to finance purchases in the Foro marketplace and Opinit community.”
Further details of the Investment Agreement shall be disclosed once the Company and MO have executed a definitive agreement, which will support the development of a synergy to increase opportunities and a shared economic vision.
Fundamental Applications Corp. (CSE:FUN FSE:2FA, OTCQB: FUAPF) designs, develops, markets, and acquires innovative mobile applications targeted at the “Millennials” generation, people born in an age of digital technology, internet access, and smart phones. This demographic is an early adopter of mobile technology, has significant discretionary income, and is lifestyle driven with a willingness to try new things. Fundamental’s three leading mobile platforms are Foro, a peer-to-peer mobile ecommerce marketplace; Truth, a one-to-one anonymous messaging app previously listed in the top 100 social networking apps in the Apple App Store; and Opinit, an app that enables users to socially share their favourite online sentiment driven content.
For more information about Fundamental, please visit www.FunAppCorp.com, or review the Company’s profiles on the SEDAR website (www.sedar.com) and the CSE website (www.thecse.com). To schedule an interview, please contact:
Chief Executive Officer
The CSE has not reviewed and does not accept responsibility for the adequacy and accuracy of this information. The Company has no intention or obligation to update or revise any forward-looking statements due to new information or events.