REG - Ten Lifestyle Group - Ten Secures New Contract with Revolut
RNS Number : 1102DTen Lifestyle Group PLC24 June 201924 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.
- End -
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/.
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 or visit www.rns.com.ENDCNTZMGZVGFNGLZZ
Recent news on Ten Lifestyle
See all newsREG - Ten Lifestyle Group - Interim results for the 6 months ended 29 Feb 2024
AnnouncementREG - Ten Lifestyle Group - Total Voting Rights and Share Capital
AnnouncementREG - Ten Lifestyle Group - Notice of Half-Year Results
AnnouncementREG - Ten Lifestyle Group - Ten wins new contract with Emirates NBD
AnnouncementREG - Ten Lifestyle Group - H1 2024 Trading Update
Announcement