Last checked at 24 Jun 2019 07:00
24 June 2019
Ten Lifestyle Group plc
("Ten" or the "Company")
Ten Secures New Contract with Revolut
Ten Lifestyle Group plc (AIM: TENG), a leading technology-enabled lifestyle and travel platform for the world's wealthy and mass affluent, is pleased to announce it has secured a new three-year contract with Revolut, one of the fastest growing fintech companies in the world.
Ten's high-touch lifestyle and concierge services will be integrated within the Revolut app, enabling Revolut's Metal cardholders to request travel, dining and ticket bookings via their mobile devices, a first for Ten. This contract is expected to be a Large contract1 in the 2019/20 financial year.
Revolut's high-end Metal card subscribers already benefit from a suite of first-class services, including cashback opportunities in global crypto and fiat currencies, overseas travel insurance, and exchange rate benefits.
(1) Ten categorises its corporate client contracts based on the annualised value paid, or expected to be paid, by the corporate client for the provision of concierge and related services by Ten as follows:
● Medium contracts (between £250,000 and £2 million); and
● Large contracts (over £2 million).
Alex Cheatle, CEO, Ten Lifestyle Group plc, said;
"We are delighted to secure this contract with Revolut, one of the world's fastest growing fintech companies, founded in 2015 and currently used by more than four million customers.
Revolut has developed significant innovations in the banking industry in a short period of time and we are confident that Ten will help further advance their proposition to Metal cardholders in selected markets internationally by providing market-leading access to travel, dining and entertainment services around the world."
George Robson, Product Owner, Revolut Limited, said;
"We are looking forward to working with Ten to deliver a market-leading concierge service for our users in selected markets."
On 22 June 2019, Ten announced a new contract with an unnamed financial services group. This announcement is further information on the same new contract and confirms the financial services group is Revolut.
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The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014.
For further information, please visit https://www.tengroup.com/ or contact:
Ten Lifestyle Group Plc Alex Cheatle, Chief Executive Officer Sean Hegarty, Chief Financial Officer Kerry Anderson, Global Head of Brand Marketing & Communications
| via Tavistock
+44 (0)20 7479 3427 |
Jefferies International Limited, Nominated Advisor Simon Hardy Christopher Binks
| +44 (0) 20 7029 8000 |
Peel Hunt LLP, Joint Broker Edward Knight Peter Stewart Nick Prowting
| +44 (0) 20 7418 8900 |
Tavistock, Financial PR & IR Jos Simson Simon Hudson Jenny Boyd | +44 (0) 20 7920 3150 |
Notes to Editors:
About Ten Lifestyle Group Plc
Ten Lifestyle Group plc is a leading, travel and lifestyle concierge service, helping wealthy individuals to discover, organise, and enjoy travel, dining, live entertainment, and the world of luxury, cheaper, and quicker than they could themselves.
Underpinned by industry-first technology, Ten provides its trusted concierge service to its more than 2 million members 24/7, 365 days a year, wherever they are in the world. Founded in 1998, the growing business now has over 800 staff, 22 global offices and is listed on the AIM market of the London Stock Exchange (AIM: TENG).
For further information about Ten Lifestyle Group Plc, please go to: https://www.tengroup.com/.