Klevo Completes $150,000 Acquisition of Credit Licence Holder Just Ask Solar

Strategic Acquisition of Credit Licence Holder

Klevo Rewards Limited (ASX:KLV) has taken a deliberate step into the regulated credit space by acquiring Just Ask Solar Pty Ltd, the holder of Australian Credit Licence No. 483627, for $150,000 in cash. This move grants Klevo a crucial regulatory foothold to develop and commercialise credit and loan products within its digital financial services platform.

The acquisition positions Klevo to broaden its product suite beyond payments and loyalty solutions, potentially integrating credit offerings that could include crypto-linked credit products. However, Klevo emphasises that this is an early-stage initiative, and the financial impact remains uncertain as credit activities have yet to commence.

Compliance and Integration Focused

To ensure regulatory compliance, Klevo has appointed Agata Rosalba Malgioglio as Responsible Manager for Just Ask Solar. The company is now focused on integrating the licensed entity into its group operations and establishing the necessary regulatory, compliance, and operational frameworks before launching any new credit services.

This cautious approach reflects the complexities of entering the credit market, especially with innovative products tied to digital assets and stablecoins. Klevo’s prior work on its stablecoin platform, which generated USD 1.22 million in a recent trial, demonstrates its commitment to building a robust payments ecosystem that could synergise with credit offerings.

Broader Expansion Through AFSL Acquisitions

Beyond the credit licence acquisition, Klevo is advancing due diligence on acquiring ASFIN Funds Management Pty Ltd and Point Capital Group Pty Ltd, both holders of Australian Financial Services Licences (AFSL). These acquisitions aim to further expand Klevo’s regulatory capabilities and product breadth within financial services.

Executive Director Andrew Shi has publicly outlined the strategic rationale behind these moves, highlighting their potential to enhance Klevo’s product suite and future capabilities in the digital finance space.

Building on Technology and Market Momentum

The acquisition complements Klevo’s recent integration of Fly Wallet, which expanded its technology stack to include Mastercard-powered loyalty and digital wallet infrastructure. This foundation supports Klevo’s vision of delivering tailored rewards, payment-linked benefits, and data-driven customer engagement programs.

As Klevo progresses with regulatory approvals and operational readiness, the market will be watching how effectively it can leverage these licences to launch credit products that align with its payments and loyalty ecosystem.