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Klevo Rewards Limited (ASX:KLV)

ALERT: Price-sensitive ASX Announcement for KLV
Current share price for KLV : $0.048 -0.019 (-28.36%)+
Announcement
Release
18 May 2026 10:14AM
Price at Release
$0.067
Full Release
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Summary
Klevo Rewards Limited has entered a Heads of Agreement to acquire Just Ask Solar Pty Ltd, a holder of an Australian Credit Licence, as part of its strategic expansion into consumer credit services linked to its Fly Wallet platform. The acquisition, valued at $150,000 inclusive of GST, aims to enhance Klevo's capabilities in providing credit-backed, crypto-centric payments, rewards, and loyalty services for its card users. This initiative is expected to reduce transaction declines, improve customer experiences, and is subject to regulatory approvals and due diligence within an 8-week exclusivity period. The potential acquisition aligns with Klevo’s strategy to expand its fintech offerings and strengthen its financial services infrastructure.
Key Points
  • Klevo to acquire Just Ask Solar Pty Ltd.
  • Acquisition aims to expand crypto-centric credit services.
  • Indicative purchase price of $150,000 inclusive of GST.
  • Exclusivity period of 8 weeks for due diligence.
  • Reduces transaction declines related to insufficient funds.
  • Enhances Fly Wallet platform’s financial service capabilities.
  • Subject to regulatory compliance and Mastercard approval.
  • Aligns with strategy to strengthen fintech infrastructure.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.