Rego Payment Architectures, Inc. Closes Additional $10.4 Million Series B Preferred Financing
Rego Payment Architectures Inc. provides the super app, Mazoola®, a recognized award winning and certified family mobile wallet
BLUE BELL, Pa., Oct. 13, 2022 (GLOBE NEWSWIRE) -- Rego Payment Architectures, Inc. (“REGO”) (OTCQB: RPMT), today announced it has raised an additional $10.4 million through the private placement of over 115,000 shares of the company’s Series B Preferred Stock.
Peter S. Pelullo, Chief Executive Officer at REGO, said, “We are now focusing on closing a commercial distribution agreement for our COPPA and GDPR Compliant Mobile Wallet, Mazoola®, and our child-safe commerce solution for payments, MazoolaPaySM. Additionally, we continue to explore our strategic corporate options as we move forward on all fronts.”
REGO is a privacy-first platform, best known for its super app, ®. The family-oriented solution provider offers several fintech-for-kids solutions, including MazoolaEnabledSM, a white label version of Mazoola, and MazoolaPaySM, a buyflow payment button offering children anonymity while purchasing goods online. Built on the same patented, COPPA and GDPR certified technology, both MazoolaEnabled and MazoolaPay ensure a child’s privacy always remains private.
Safe Harbor Statement
The information in this press release may contain forward-looking statements on our current expectations and projections about future events. These forward-looking statements are not guarantees and are subject to known and unknown risks, uncertainties, and assumptions about us that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by such forward-looking statements. Important factors that could cause actual results to differ materially from our expectations include, but are not limited to: our history of net losses, our ability to raise additional capital, the absence of any material operating history or revenue, our ability to attract and retain qualified personnel, our ability to develop and introduce a new service and products to the market in a timely manner, market acceptance of our services and products, our limited experience in the industry, the ability to successfully develop licensing programs and generate business, rapid technological change in relevant markets, unexpected network interruptions or security breaches, changes in demand for current and future intellectual property rights, legislative, regulatory and competitive developments, intense competition with larger companies, general economic conditions, and other risks as described by us in Item 1.A “Risk Factors” in our most recent Form 10-K; other risks to which our Company is subject; and other factors beyond the Company’s control.
All subsequent written and oral forward-looking statements attributable to us, or persons acting on our behalf, are expressly qualified in their entirety by the foregoing. The Company has no obligation to and does not undertake to update, revise, or correct any of these forward-looking statements after the date of this press release.
About REGO
REGO is a digital solution that enables children to stay safe in today’s tech-first environment. The REGO Digital Wallet platform, Mazoola®, allows parents and guardians to enable online shopping or digital spending at approved retailers, control what funds are available for which purchases, and reward children or pay allowance via the app. REGO is an innovative financial platform uniquely positioned due to its Children’s Online Privacy Protection Act (COPPA) and General Data Protection Regulation (GDPR) compliance. Visit REGO at .
Media Contact:
Joseph Toczydlowski
REGO Payment Architectures, Inc.
325 Sentry Parkway, Suite 200
Blue Bell, PA 19422
(o) 267-465-7530
