Adveritas expands contract with its Latin American client, super app Rappi. (ASX:AV1)

Company Name: Adveritas

Announcement Date: 10/10/2019
Announcement Category: Contract/Partnership
Announcement Content:

● Latin American super app, Rappi, has signed a new agreement which increases its minimum
monthly TrafficGuard subscription fee by 50% from US$15,000 to US$22,500 to allow for
increased traffic volumes.
● Rappi has also extended its contract duration by committing to a new 24-month contract
commencing in October 2019 for a total minimum value of US$540,000 (circa A$800,000).
● Annualised Recurring Revenue (ARR) for the Company increases to approximately A$1.6 million.

Announcement URL:
About Adveritas:

Adveritas Limited (ASX:AV1) creates innovative software solutions that leverage big data to drive business performance.

Go to Company Profile for: Adveritas

Announcement Contact: [email protected]