BOCA RATON, Fla., Oct. 31, 2016 /PRNewswire/ -- FlexShopper, Inc. (OTCQB: FPAY, "FlexShopper"), a leading national online lease-to-own ("LTO") retailer and LTO payment solution provider, today announced that it was ranked the 18th fastest growing mobile e-commerce company as part of Internet Retailer's 2017 Mobile 500® report. FlexShopper's rapid mobile-revenue growth, which Internet Retailer reported as 100.3%, and leadership in bringing online the traditional rent-to-own, store-based model led to the Company ranking 298th on the Mobile 500 list and 30th in FlexShopper's primary merchandise category of computers and electronics.
FlexShopper is an innovator in online, lease-to-own financing technology, growing lease originations at a record pace, while bringing digital leadership to the traditional rent-to-own store-based model. The Company continues to grow awareness and adoption, by both retailers and consumers, of its online lease-to-own platform – an achievement recognized by this high, national ranking. FlexShopper recently completed a reverse stock split and is trading on the OTC market under the ticker "FPAYD" as part of an application for listing on the Nasdaq exchange.
"This is the first year we've been listed on the Internet Retailer Mobile 500, and it reflects our rapid rise into the ranks of the world's leading e-retailer and mobile e-commerce players," said Brad Bernstein, FlexShopper CEO. "Our customer is a very strong user of mobile devices and hence more and more of our lease-to-own transactions are happening exclusively through mobile."
The Internet Retailer's 2017 Mobile 500 is an annual ranking of the world's largest mobile commerce players, based on annual mobile sales and other key metrics. According to the report, companies ranked in the Mobile 500 are on pace to grow their sales from mobile devices 53.4 percent to roughly $220.4 billion this year, up from $143.7 billion in 2015.
"We are continuing to invest in our mobile-enabled systems to improve the speed, simplicity and efficiency of the FlexShopper.com experience for consumers, and are also targeting increased marketing dollars to this critical and fast-growing channel," added Bernstein.
For more information, and for a detailed list of the complete rankings for the Internet Retailer Mobile 500, please visit Top500guide.com.
FlexShopper, LLC, a wholly owned subsidiary of FlexShopper, Inc. (FPAY), is a financial and technology company that provides brand name electronics, home furnishings and other durable goods to consumers on a lease-to-own (LTO) basis through its ecommerce marketplace (www.FlexShopper.com) and patent pending LTO payment method. FlexShopper also provides LTO technology platforms to retailers and e-retailers to facilitate transactions with consumers that want to acquire their products, but do not have sufficient cash or credit. FlexShopper approves consumers utilizing its proprietary consumer screening model, collects from consumers under an LTO contract and funds the LTO transactions by paying merchants for the goods. Follow us on Facebook or Twitter @FlexShopper.
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