Joint VentureJul 29, 2026, 09:09 AM
SurgePays & LWP Discuss JV After Pilot's $142K June Sales
AI Summary
SurgePays, Inc. announced an expanded relationship with All Prepaid, LLC (LWP) following a successful three-month pilot of their smartphone rent-to-own (RTO) program. The pilot, conducted across 32 independent retail dealers, generated $142,725 in June sales, demonstrating significant month-over-month acceleration. The companies are now actively exploring a joint venture to scale this program across SurgePays' broader multi-thousand dealer network, aiming to provide essential mobile and financial services to subprime consumers.
Key Highlights
- SurgePays and LWP are discussing a joint venture to scale their RTO program.
- Pilot program generated $142,725 in June sales from 32 dealers.
- Average June revenue per pilot dealer was approximately $4,438.
- Sales accelerated from $1,500 in April to $29,699 in May.
- The program targets subprime consumers for smartphone rent-to-own.
- LWP's approval matrix aims for higher approval rates for subprime segment.
- JV aims to roll out the program to SurgePays' 9,000-dealer network.
Price Impact
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