Positive Cash Flow Anticipated by September
San Francisco, July 26, 2023 (GLOBE NEWSWIRE) -- RocketFuel, Inc. (OTCQB: RKFL) (“RocketFuel” or the “Company”), a global provider of payment solutions via ACH bank transfers, Bitcoin and other cryptocurrencies, announced a 15-fold increase in customer traction in 30 days, driven by the successful launch of new products and the acquisition of three large-scale customers.
The company has experienced a substantial increase in transaction volume, soaring from 110 transactions per day in June 2023 to 1,600 transactions per day in July 2023. This represents an growth of approximately 1,500% in a month.
"We're excited about the immediate traction our new products are delivering," said Peter Jensen, Rocketfuel's CEO. "This significant upswing in customer engagement demonstrates the market's enthusiastic response to our innovative solutions."
As customers’ rollout continues, Rocketfuel believes that its growth trajectory places it on track to achieve positive cash flow by September 2023. The company attributes its success to the launch of new products, including the highly anticipated 'Payouts' feature, and the addition of three new major customers. Furthermore, a robust pipeline of potential customers promises to sustain this growth throughout the remainder of the fiscal year.
"We're ramping up our capacity to allow for onboarding additional customers in the pipeline to continue growth," added Jensen. "We believe that our commitment to innovation and customer-centric solutions sets us apart in the payment infrastructure landscape."
Rocketfuel will share more details about its growth strategy and upcoming plans in a future Investor Relations Webinar. The company continues to make strides in its mission to revolutionize financial transactions with its cutting-edge blockchain technology.
RocketFuel is a global payments infrastructure company that provides modern blockchain based solutions for moving money between businesses and consumers faster, cheaper, and more securely. Its Pay-In product offers shoppers a simple, easy-to-use, one-click checkout process that accepts payments with bank transfers, Bitcoin and 160+ cryptocurrencies. RocketFuel delivers a highly secure and efficient shopping cart experience with significantly low fees for merchants, along with the benefits of no chargebacks and no card declines. RocketFuel also offers payouts, B2B cross-border crypto payment solutions, invoicing and a crypto payments service, and is developing a point-based loyalty program. More information about RocketFuel is available at: www.rocketfuel.inc
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