TORONTO, July 11, 2024 (GLOBE NEWSWIRE) -- Stack Capital Group Inc., (TSX:STCK) is pleased to announce that Hopper, Inc. ("Hopper"), an existing portfolio holding, has announced a partnership with Sumitomo Mitsui Card Co., Ltd. ("SMCC"), the largest credit card issuer in Japan, owned by SMBC Group.
The partnership will see HTS (Hopper Technology Solutions) create and power the travel loyalty portal for SMCC, enabling its cardholders to easily book flights, accommodations, and car rentals, while saving money.
HTS' industry-leading suite of flexible fintech products, along with its e-commerce platform, comprehensive travel agency, and deep understanding of data were all key factors which supported SMCC's decision to partner. Moreover, SMCC believes that this new HTS-powered travel portal will not only increase loyalty among its existing customer base, but also attract new customers.
"An exciting new partnership - this time with SMCC, Japan's largest credit card issuer," said Jeff Parks, CEO of Stack Capital. "HTS started from scratch just a couple of years ago; today, HTS accounts for two-thirds of Hopper's business, which is extremely impressive. Congratulations to the entire Hopper/HTS team."
To access a copy of the Hopper announcement please click here.
About Stack Capital
Stack Capital is an investment holding company and its business objective is to invest in equity, debt, and/or other securities of growth-to-late-stage private businesses. Through Stack Capital, shareholders have the opportunity to gain exposure to the diversified private investment portfolio; participate in the private market; and have liquidity due to the listing of the Common Shares and Warrants on the TSX. At the same time, the public structure also allows the Company to focus its efforts on maximizing long-term performance through a portfolio of high growth businesses, which are not widely available to most Canadian investors. SC Partners Ltd. (the "Manager") has taken the initiative in creating the Company and acts as the Company's administrator and is responsible to source and advise with respect to all investments for the Company.
About Hopper
Hopper is the world's fastest-growing mobile-first travel marketplace, focused on helping customers save money and travel better. The Hopper app has over 120 million downloads and continues to capture market share around the world. By leveraging massive amounts of data and machine learning, the company has developed several unique fintech solutions that address everything from pricing volatility to trip disruptions. Through its B2B initiative, HTS (Hopper Technology Services), the company is syndicating its travel fintech products and inventory, providing companies that aspire to sell travel a differentiated consumer experience and offering. Hopper sells over $7 billion in travel and travel fintech annually, with HTS accounting for two-thirds of its business. To find out more about Hopper, visit Hopper.com.
For more information, please visit our website at www.stackcapitalgroup.com or contact:
Brian Viveiros
VP, Corporate Development, and Investor Relations
647.280.3307
brian@stackcapitalgroup.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/68818acd-b8f2-4f73-a220-2b42d93d2c10
