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Bellevue WA and Santa Monica CA, Jan. 26, 2021 (GLOBE NEWSWIRE) -- TraQiQ, Inc. (OTC QB: TRIQ) (the "Company" or "TraQiQ"), a FinTech company delivering deeply targeted technology solutions for customer management, transaction management & fulfillment announced today that it has acquired Rohuma LLC, a California based Software company behind the Kringle Suite of Loyalty, M-Commerce and Analytics products.
The Kringle loyalty platform is a Mobile First product for Enterprises equipped with features like multi-tiered E-Wallets that accept and transfer Points, Cash and Tokens. In addition, there is a Loyalty engine that analyzes customers’ omni-channel transactions and behaviors to create meaningful insights and actions. Using world leading AI for digital commerce, Kringle can deliver real time, automated recommendations and personalized content across all customer touch points. Kringle’s business model is based on monthly SAAS subscriptions.
Ajay Sikka, CEO of TraQiQ said “Bringing the Kringle product suite and team into the TraQiQ family will allow us to provide a seamless solution for the post COVID hyper-digital, Contactless economy by integrating Kringle’s mobile and web products for end-to-end digital commerce solutions”. Ajay further explained, “Kringle’s ML based algorithms automatically suggest intelligent business rules for merchants to increase customer retention and revenue and solve other complex problems that are challenges for modern retail”.
Sandeep Soni, CEO of Kringle said “I am delighted for the Kringle team to join hands with TraQiQ. This amalgamation will turbocharge our expansion into new Verticals Like Financial Services and equally into new geographies like Latin America leveraging TraQiQ’s considerable client base and expertise in those segments. We see tremendous Cross Sell and Upsell opportunities. We also expect to see our Clients like Nando’s, The Beer Café, Bira 91, Bruce Lee Inc and other Fortune 500 Companies in our portfolio benefit significantly from this deal.”
Rahul Singh, CEO of The Beer Café, South Asia’s largest Beer Bar Chain and industry leader in the Food & Beverage space said “I Can’t imagine a world without The Beer Cafe app that Kringle helped create. Over 300,000 customers use the app to earn and use “brew bucks” our in-house rewards program. The AI module Kringle has deployed for personalizing offers is beginning to give amazing results”.
About TraQiQ, Inc.
TraQiQ, Inc. is a global technology company with a suite of products designed to help identify customers, facilitate transactions and fulfill transactions. TraQiQ’s leading edge FinTech and AI solutions have been deployed with leading multi-national customers around the world and are helping increase customer loyalty, improving profitability and driving efficient financial transactions. For more information, visit http://www.TraQiQ.com.
About Rohuma LLC
Rohuma LLC dba Kringle.ai is a California based software solutions company that enables digital and mobile commerce by providing enterprise class applications that cover loyalty and rewards products, payments, online ordering, distribution logistics for retail and more. The company provides machine learning based solutions to a global base of clients spanning prominent geographies. For more information, visit http://www.kringle.ai
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Statements contained herein that are not based upon current or historical fact are forward-looking in nature and constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements reflect the Company's expectations about its future operating results, performance and opportunities that involve substantial risks and uncertainties. The potential risks and uncertainties include, among others, that the reverse stock split may not have the intended benefits, that the Company may not meet applicable NASDAQ Capital Market requirements necessary for listing and/or NASDAQ may not approve the Company's listing application; and any capital raises. These statements are based upon the current beliefs and expectations of the Company's management and are subject to significant risks and uncertainties, including those detailed in the Company's filings with the Securities and Exchange Commission. Actual results, performance, prospects, and opportunities to may differ materially from those set forth in, or implied by, the forward-looking statements.
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