FlexShopper Reports 52.7% Increase in November Lease Originations
FlexShopper, Inc. (NASDAQ:FPAY)
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1 Month : From Nov 2018 to Dec 2018
FlexShopper, Inc. (Nasdaq:FPAY) (“FlexShopper” or the “Company”), a leading national online lease-to-own (“LTO”) retailer and LTO payment solution provider, today announced November gross lease originations were $9.2 million, an increase of 52.7% from $6.0 million during the same period in 2017. Cumulative gross lease originations for the eleven months ended November 30, 2018 were $44.9 million representing a 51.6% increase from $29.6 million in the same period in 2017.
Brad Bernstein, CEO, stated, “We are having a great holiday season with all channels contributing from our direct to consumer marketplace, flexshopper.com, to our B2B retail channel.”
Brad Bernstein will present at the 11th annual LD Micro Main Event in Bel-Air, California. The Company's presentation will take place on Wednesday, December 5, 2018 from 11:30 AM-12:00 PM Pacific Time. A live webcast of the presentation will be available at http://wsw.com/webcast/ldmicro15/fpay/
and on the Investor Relations section of the Company’s website at: http://investors.flexshopper.com/phoenix.zhtml?c=217421&p=irol-calendar
The Company will update investors on its progress in 2018 and investors attending the conference will also have an opportunity to meet with the Company one-on-one to learn more about the Company's business.
FlexShopper is a leader in the virtual lease-to-own (“LTO”) market, which represents transactions occurring outside of traditional brick and mortar rent-to-own stores. Since December 2013, we have developed a business that provides brand name electronics, home furnishings and other durable goods to consumers on an LTO basis through an e-commerce marketplace and patented LTO payment method. FlexShopper also provides LTO technology platforms to retailers and e-retailers to facilitate transactions with consumers who want to acquire their products, but do not have sufficient cash or credit. FlexShopper approves consumers utilizing its proprietary consumer screening model, collects from consumers under an LTO contract and funds the LTO transactions by paying merchants for the goods.