EXCLUSIVE: Peak Fintech Group CEO Talks UnionPay, Growth Outlook On 'Power Hour'

Peak Fintech Group Inc PKKFF announced Thursday it acquired a minority stake in China UnionPay subsidiary Rongbang Technology.

Johnson Joseph, CEO of Peak Fintech Group, appeared on Benzinga's YouTube show "Power Hour" for an exclusive interview Thursday. 

Joseph told Benzinga that Peak Fintech Group runs a China-based platform connecting small businesses seeking funding and financial institutions willing to lend to those small companies.

Essentially, the company acts as a marketplace for small businesses and financial institutions, he noted. 

UnionPay: Peak Fintech Group received an invitation to invest in Rongbang Technology, which Joseph described as "a tremendous honor."

UnionPay is the largest card payment company in the world, he said. The opportunity to invest and be associated with UnionPay opens doors and adds credibility to Peak Fintech Group, Joseph told Benzinga. 

Accelerating Growth: Peak Fintech Group launched in China in 2018 and generated about $1.6 million Canadian dollars ($1.29 million U.S. dollars) in revenue, Joseph said. The company scaled to $11.7 million in 2019 and $42 million in 2020, he noted. 

The company is forecasting revenue of $104 million in 2021, $300 million in 2022 and $600 million in 2023, Joseph told Benzinga.

Peak Fintech Group has "intentions of coming to North America by the end of this year," he said. The company expects to be uplisted to the Nasdaq before the end of August, Joseph added. 

See the full interview here:

PKKFF. Price Action: Peak Fintech Group has traded as high as $5.14 and as low as 25 cents over a 52-week period.

At last check Thursday, the stock was up 1.31% at $4.31.