Cheer Financial Achieves Rapid Merchant Adoption
October 15, 2024
Dear Investors and Supporters,
We’re thrilled to share that Cheer Financial has hit a significant milestone in our growth journey. In just the past quarter, we’ve successfully onboarded 100 new merchant partners, including industry leading retailers. This rapid adoption rate has exceeded our initial projections by 150%, demonstrating the strong market demand for our AI-powered lending solution.
Key highlights:
– 100 new merchant partnerships pre-established
– Equates to a 35% growth in monthly transaction volume
– Average customer acquisition cost reduced by 40%
This explosive growth not only validates our business model but also positions us for accelerated expansion in the coming months. We’re excited about the momentum and look forward to sharing more updates soon.
What’s Next For Cheer:
We are rapidly onboarding merchant partners seeking better customer financing options with higher approval rates to increase their overall customer conversions.
Our conservative goal was to onboard 250 merchants in our first year, representing $1,950,000 in potential revenue, which we are now on track to exceed.
Best regards,
Gregory Giagnocavo, CEO