Initial Success Accelerating Overall Market Interest
NEW YORK, NY / ACCESSWIRE / October 8, 2024 / Sparta Commercial Services, Inc. ("Sparta" or "Company") (OTC PINK:SRCO) is excited to announce that its subsidiary, Agoge Global USA, Inc. ("Agoge") and its joint venture partner, WeDev Group Ltda., experienced a notable increase in the number of client transactions processed on its EZBroker360 platform since its July 31, 2024 quarter end launch.
"We are thrilled to see strong market adoption almost immediately after the launch of our platform," said Anthony Havens, CEO of Sparta. "Our team continues to work diligently to disrupt an untapped sector of the import/export industry, and the positive response from our clients is a testament to our efforts. This has led to requests from current clients to expand their relationship and a growing backlog of prospects queuing up to get on the platform."
Our platform combines a Merchant of Record model with a comprehensive suite of services that simultaneously improves the efficiency, reduces the cost, and increases the speed of the financial management process for Brazilian importers and exporters. Introduced just a few short months ago, our platform has been successfully implemented at a number of trading organizations for a range of services, including the seamless integration of invoice management, bill of lading processing, and import/export declarations, along with a robust staged financing module. In fact, several transactions are on the precipice of completing a ‘full loan cycle,' where clients will have received and repaid critical import/export costs funded through our platform. Having proven commercial success with these initial implementations, the Company will now begin onboarding additional clients as our bandwidth grows.
Mr. Havens continued, "We remain committed to innovating and expanding our services to meet the evolving needs of our customers. Agoge enables our clients to replace individual supplier payments, freightage, and all associated tax and customs clearance costs, with one centralized entity that simplifies the entire process. Our current clients are referring new clients, and some large organizations that are similarly looking to consolidate their import/export relationships are now showing a strong interest."
"The rapid adoption by key players in the Brazilian import/export market has exceeded our expectations. We are witnessing significant transaction growth, and the feedback from our early clients has been very positive," said Eduardo Ribeiro, WeDev Group CEO. "This solution is already delivering tangible value to both Brazilian and international entities, and we are excited to continue scaling to meet the increasing demand."
Agoge plans to capitalize on this momentum by introducing new products and services that leverage its first-mover advantage to drive additional growth in this very large and rapidly expanding market to create value for shareholders.
For more information about Agoge Global USA, Inc. and its offerings, please visit https://agogeglobalusa.com.
About Sparta Commercial Services, Inc.
Sparta Commercial Services, Inc. (www.spartacommercial.com) was founded in 2004 and is the parent company of three subsidiaries in addition to Agoge Global USA, Inc.: iMobile Solutions, Inc., New World Health Brands, Inc., and Sparta Crypto, Inc., offering a variety of products and services.
About Agoge Global USA, Inc.
A subsidiary of Sparta Commercial Services, Inc., Agoge Global USA, Inc. is a provider of finance, facilitation, and communications, within the import/export sector. With a focus on underserved markets, innovation, and customer satisfaction, Agoge strives to deliver exceptional value for its clients. For more information, visit https://agogeglobalusa.com.
About WeDev Group Ltda.
WeDev Group Ltda. is a Brazilian innovator focused on the disruption of traditional standards by fostering innovation and growth through new business models capable of transforming the way the world works.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements are valid only as of today, and we disclaim any obligation to update this information. Actual results may differ significantly from management's expectations. These forward-looking statements involve risks and uncertainties that include, among others, risks related to potential future losses, competition, financing and commercial agreements and strategic alliances, seasonality, possible fluctuations in operating results and rate of growth, management of potential growth, system interruption, consumer and industry trends, limited operating history, and government regulation. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by the Company or any other person that the objectives and plans of the Company will be achieved. Further information regarding these and other risks is described from time to time in the Company's filings with the SEC, which are available on its website at: http://www.sec.gov.
Company Contact:
Sandra L. Ahman
Corporate Secretary
Sparta Commercial Services, Inc.
sandy@spartacommercial.com
SOURCE: Sparta Commercial Services, Inc.
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