REG - Mode Global Holdings - Bitcoin payroll partnership with Heroes

R8 Capital InvestmentsAnnouncement

07/02/2022 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220207:nRSG8100Aa&default-theme=true

RNS Number : 8100A  Mode Global Holdings PLC  07 February 2022

 

Mode Global Holdings PLC

("Mode" or "the Company" or "the Group")

Mode announces Bitcoin payroll partnership with ecommerce firm Heroes

●     Deal with ecommerce firm Heroes will allow employees to take
salary in Bitcoin

●     Mode's innovative payroll platform will deliver Bitcoin to
employees' wallets

●     Heroes to be one of the first companies in UK to be offering to
pay its employees in Bitcoin

Mode Global Holdings PLC (LSE:MODE), the LSE-listed Fintech Group, today
announces it has entered into a partnership with technology-driven ecommerce
platform Heroes, which will enable employees of the firm to take some of their
monthly salary in Bitcoin.

Mode's payroll offering allows interested employees the option to invest in
the crypto asset on a monthly basis, which means they can ride the monthly
fluctuations in price and invest steadily in the world's most popular digital
asset.

As an innovative and fast-growing business which has recently undergone a
series of successful fund raises and is backed by 360 Capital Partners, Fuel
Ventures and Upper90, Heroes is looking to use Mode's platform as an
additional benefit for its employees.

Once employees make the decision to receive a portion of their salary in
Bitcoin, they will receive their Bitcoin salary straight into their Mode
wallet, which is a secure and FCA registered Bitcoin wallet.

The move highlights the expanding #PayMeInBitcoin movement and follows the
partnership between Mode and payroll supplier PayEscape in November 2021.

Recent research of Bitcoin investors commissioned by Mode showed that 76% of
UK respondents would be interested in an automated Bitcoin investment when
receiving their salary, increasing to 81% of 25-34 year olds.(( 1 ))

Commenting on the partnership, Rita Liu, CCO at Mode, said: "We are delighted
to be working with the Heroes team to bring their employees an innovative and
secure way of investing in Bitcoin for the longer term through our payroll
product. They are a great example of forward-thinking employers who answer to
increasing demand from the employees' community to be paid in digital assets."

Giancarlo Bruni, Co-founder and CFO at Heroes, said: "We are very excited
about the partnership with Mode, which through their Bitcoin payroll platform
allows us to offer something very unique and innovative to our employees.
Being able to receive salaries partly in Bitcoin has been very well received
and adds another string to the bow of benefits available to our employees."

ENDS

 

Press contacts:

 

Milo Larkin, MRM

020 3326 9926 / 07471 351 584

mode@mrm-london.com

 

Notes to Editors

About Mode:

Mode is an LSE-listed fintech company on a mission to build the world's most
disruptive ecosystem where exchanging value and growing wealth is seamless for
all. Mode is leveraging the power of Bitcoin and Open Banking to deliver on
this mission and offer customers in the UK a one-stop app to shop, earn and
grow their Bitcoin, all in one place. For businesses, Mode provides a cheaper,
safer and smarter alternative to card payments that rewards shoppers with
Bitcoin Cashback.

To learn more, visit our customer/business site at www.modeapp.com
(http://www.modeapp.com) or our investor site at www.modeplc.com
(http://www.modeplc.com) .

 

Heroes Press Contact:

Maria Galofre, Head of Branding

maria@makeheroes.co (mailto:maria@makeheroes.co)

+44 7469 981 806

 

About Heroes:

Heroes was founded in London in 2020 and is a technology-driven e-commerce
company that acquires, operates and scales consumer brands with
category-winning products on global marketplaces. Heroes is backed by
institutional investors including 360 Capital, Fuel Ventures and Upper90.

 

For more information, visit https://www.makeheroes.co/
(https://www.makeheroes.co/) .

 

 

 

 1  251 Bitcoin adopters in the UK were surveyed by Censuswide between 26
November and 1 December 2021.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCEAKAKEDFAEFA