Hero Innovation Group Introduces Hero Financials, a Full-Service Alternative-to-Banking Solution for Raising Financially Empowered Kids
Hero Group • August 10, 2022
Hero™ allows kids and teens to make their own financial and spending decisions and set a strong foundation for themselves to make smart money decisions. The solution is paired with SideKick™, a prepaid Mastercard that equips kids with vital financial literacy skills. It is a turnkey solution, supported with a mobile application as well as a built-in budgeting tool, savings function, contactless payments, and security backed by third-party inscription.
Hero™ provides the foundational steps that accompany kids into a financially independent and responsible future, while also building parent-child trust and confidence by eliminating the need to borrow parents’ credit or debit cards to access funds. With Hero, transfers are sent in real-time, and funds can be used both in-store and online, via contactless and chip payments wherever a prepaid Mastercard is accepted. It can be used for purchases, savings and to gain essential financial literacy skills, without the limitations and restrictions imposed by traditional consumer banks.
“Being a Canadian company, presence in our home market is crucial for us. We identified a critical gap in the sector’s ability to meet the financial goals and needs of Canadian youth and GenZers, a segment that now comprises a fourth of our population,” said Peter MacKay, CEO of Hero Group. “Hero Financials™ is the perfect turnkey solution for Canadian youth that compliments their journey towards gaining financial independence, while also helping parents support and pass on those valuable skills to their kids,” he added.
As a multi-user product, parents can receive notifications of their child’s spending in real-time, restrict and block purchases on items by product category and lock funds in their child’s account, which only they can later unlock. Users will soon be able to take advantage of the Round-Up feature, whereby purchases are rounded up to the nearest dollar and the spare change is automatically deposited into a savings account, called Vault, for use later. Hero will also soon support digital payments through a wallet function, whereby users can make payments from their Hero accounts via third-party mobile payment apps such as Google Pay, Apple Pay and Samsung Pay without the need to present a physical card for purchases.
Hero™ has been designed specifically to address the financial needs of Canadian children, teens and Generation Z, a sizeable demographic with over $50 billion in estimated purchasing power. Figures show that this consumer cohort is ‘grounded’ and values savings, with 72% putting money away for the future. It is a segment that also highly values flexibility and choice, with 45% preferring to make purchases in-store, and 16% shopping solely online.
Hero™ is user-friendly, with no hidden fees, and offers a selection of different plans to choose from. Subscribers will also benefit from the platform’s ease of use, convenience, and efficacy in maintaining budgeting and financial management needs.
Hero Group’s first flagship product, SideKick™, has been met with great acceptance among international education professionals, parents worldwide, and the student community. Recently, SideKick™ was named ‘Service Provider of the Year’ at the 2nd ST Secondary Awards.
The awards, organized by Study Travel Network, honour outstanding contributions to the high school education sector from schools, service providers, agencies and associations worldwide.
SideKick™ was initially designed as a solution for inbound students coming to Canada, and following the initial success of the international product, many parents in Canada expressed interest in using a product to support their kids’ financial management needs locally. As such, the Company decided to enhance its service offerings to the next generation of consumers in both the international and domestic markets. Through Hero Financials™, the Company is aiming to replicate SideKick’s success in the domestic Canadian market. Both products offer diverse and innovative features developed by Hero Group’s robust proprietary technology, an area that the Company continues to develop and invest in.
Hero Financials™ is available via the product’s official website: www.herofinancials.com.
About Hero Innovation Group Inc.
Hero Innovation Group Inc. (formerly, Euro Asia Pay Holdings Inc.) is a developer of innovative financial solutions for the next generation of consumers. Through its flagship product, SideKick™, introduced in 2018, the company identified unmet needs in the market within specific demographics, such as international students in Canada, and delivered a product to address those needs. Hero Financials™, the Company's latest product, is targeted at parents, kids and young adults across Canada. With financial literacy at the forefront of the company's values and a plethora of advanced proprietary technology features, Hero Financials prepares kids to become financially smart adults through a variety of financial literacy tools.
To learn more about Hero Group's products and services, visit www.heroinnovationgroup.com.
On Behalf of the Board of Directors
Peter MacKay
Chief Executive Officer & Director
For further information, please contact:
Peter MacKay
Chief Executive Officer & Director
(800) 508-8813
ir@heroinnovationgroup.com
For all media queries, please contact:
Hero Innovation Group Inc.
Swati Mehta
PR Associates
(403) 804-0768
smehta@prassociates.com
Forward-Looking Statements
Certain statements in this news release include forward-looking statements or information (collectively “forward-looking statements”) within the meaning of applicable Canadian securities legislation. The Company is providing cautionary statements identifying important factors that could cause its actual results to differ materially from those projected in these forward-looking statements. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as “may”, “anticipates”, “is expected to”, “estimates”, “intends”, “plans”, “projection”, “could”, “vision”, “goals”, “objective” and “outlook”) are not historical facts and may be forward-looking. The Company has based the forward-looking statements largely on its current estimates, assumptions and projections about future events and trends that it believes may affect its business, financial condition and results of operations.
By their nature, forward-looking statements involve numerous assumptions, inherent risks and uncertainties, both general and specific, which contribute to the possibility that the predicted outcomes may not occur or may be delayed. The risks and uncertainties, many of which are beyond the Company’s control, include, but are not limited to: the ability of the Company to establish a market for its products; competitive conditions in the mobile payments industry which could prevent the Company from becoming profitable; the ability of the Company to complete the Proposed Transaction; the ability to obtain any required regulatory and other approvals or satisfy any other conditions to the completion of the Proposed Transaction; the potential impact of the announcement or completion of the Proposed Transaction on relationships, including with regulatory bodies, employees, suppliers, customers and competitors; the diversion of management time on the Proposed Transaction; the effectiveness and efficiency of advertising and promotional expenditures to generate interest in the Company’s products; dependency on continued growth in the adoption of mobile payment technology; volatility of the market price of the Company’s securities; the inability to secure additional financing; the Company’s intention not to pay dividends; claims, lawsuits and other legal proceedings and challenges; conflicts of interest with directors and management; and other relevant factors.
Factors that could cause the Company’s actual results to differ from the forward-looking statements include its history of losses from operations; technology risks; its ability to obtain the additional financing required to meet long-term goals; its dependence on key personnel, including its executive officers; and uninsured risks. These factors are not exhaustive.
Further, any forward-looking statement speaks only as of the date on which such statement is made, and, except as required by applicable law, the Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events. New factors emerge from time to time, and it is not possible for management to predict all such factors and to assess in advance the impact of each such factor on the Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statement.
VANCOUVER, B.C. – December 3, 2024 – Hero Innovation Group Inc. (“ Hero ” or the “Company”) ( CSE: HRO ) is pleased to announce that it has appointed Tai Jiang and Hong Yuan to the Company’s Board of Directors, in place of Wei Shao who has resigned as the director. The Company also appointed Tai Jiang, as Chief Executive Officer of the Company in place of Morris Chen, who has stepped down as Chief Executive Officer and Kuen Lau as the Chief Financial Officer in place of Kevin Chen, who has resigned as Chief Financial Officer. The Company wishes to thank Mr. Chen for their significant contributions in leading the Company. Tai Jiang Mr. Jiang is a globally-minded entrepreneur and seasoned investor with 30 years of experience in finance and capital markets. With a strong track record in global investments and expertise in both primary and secondary markets, Mr. Jiang excels in macroeconomic analysis, data-driven insights, industry research, risk management, and quantitative investment strategies. Mr. Jiang brings a deep understanding of emerging technologies in Web 3.0 era, including blockchain, cryptocurrency, AI applications, and the transformative potential of AR/VR in s haping the metaverse. His unique insights and hands-on experience position him as a leader in navigating these dynamic fields. Hong Yuan Mr. Yuan is currently serving as the Director & CEO of a major investment company in Canada, Chairman of a Canadian fund company, and Chairman of a diversified group company in Canada. With over 20 years of experience as a senior executive, Mr. Yuan specializes in information management, investment, and entrepreneurship. He excels in business model design, cross- industry consulting, and the managing cross-border corporate operations. Mr. Yuan is a strong advocate for integrity and pragmatism. He is committed to building a positive new image for the Chinese community and dedicates himself to supporting new Chinese immigrants in integrating into local life, finding employment, and starting businesses. Kuen Lau Ms. Lau has over 20 years of experience in senior financial executive roles, she has extensive experience in assurance practice, financial reporting, internal control sectors and tax planning. Ms. Lau began her career as an auditor with one of the Big Four professional service firms and provided professional services for certain amounts of listed companies in Hong Kong. Ms. Lau is a fellow member of ACCA, HKICPA and Taxation Institution of Hong Kong. About Hero Innovation Group Inc. Hero Innovation Group Inc. (formerly, Euro Asia Pay Holdings Inc.) is a developer of innovative financial solutions for the next generation of consumers. Through its flagship product, SideKickTM, introduced in 2018, the Company identified unmet needs in the market within specific demographics, such as international students in Canada, and delivered a product to address those needs. Hero Financials, the Company’s largest product, is targeted at parents, kids and young adults across Canada. With financial literacy at the forefront of the Company’s values and a plethora of advanced proprietary technology features, Hero Financials prepares kids to become financially smart adults through a variety of financial literacy tools. To learn more about Hero Group’s products and services, visit www.heroinnovationgroup.com. On behalf of the Board of Directors Mao Sun Director For further information, contact: Luiz Pion VP Business Development ir@heroinnovationgroup.com Disclaimer for Forward-Looking Information This news release contains forward-looking information within the meaning of Canadian securities legislation concerning the business of the Company. Forward-looking information is based on certain key expectations and assumptions made by the management of the Company. Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Forward-looking information in this news release includes statements regarding, but not limited to: the ability for the Company to perform its obligations under the Agreement; the receipt of applicable third party approvals of the Agreement and the Loan convertibility, including, but not limited to, minority shareholder approval and that of the CSE, and such other statements contained herein that are not purely historical in nature. There are numerous risks and uncertainties that could cause actual results and the Company’s plans and objectives to differ materially from those expressed in the forward-looking information. Important factors that could cause actual results to differ materially from those expressed in the forward-looking information include: the CSE may not approve the securities issuable pursuant to the Agreement; that the requisite minority shareholders approvals may not be obtained by the parties in connection with the Conversion; and other factors beyond the control of the Company. The ongoing COVID-19 pandemic, labour shortages, inflationary pressures, rising interest rates, the global financial climate and the conflict in Ukraine and surrounding regions are some additional factors that are affecting current economic conditions and increasing economic uncertainty, which may impact the Company’s operating performance, financial position, and future prospects. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. The Company does not undertake any obligation to update such forward-looking information whether because of new information, future events or otherwise, except as expressly required by applicable law.
VANCOUVER, B.C. – February 21, 2023 – Hero Innovation Group Inc. (“Hero” or the “Company”) (CSE: HRO) announces that it has appointed Mao Sun and Wei Shao to the Company’s Board of Directors, in place of Peter MacKay and Larry Yen who have resigned as directors. The Company also appointed Mao Sun as the Chief Executive Officer in place of Peter MacKay, who has stepped down as Chief Executive Officer and Kevin Chen as the Chief Financial Officer in place of Mao Sun who has resigned as Chief Financial Officer. Mao Sun will continue to act as the Chief Executive Officer for the Company. The Company would like to thank Mr. MacKay and Mr. Yen for their many contributions to the Company. Wei Shao Mr. Shao is the national practice group co‐leader for the China Service at Dentons Canada and specializes in international business transactions. He has extensive experience in mergers and acquisitions, corporate and project financing, complicated corporate and commercial transactions, and advising clients with respect to business negotiations, policy and regulatory matters, as well as government relations. Mr. Shao has represented Asian investors and entrepreneurs, sovereign and investment funds, private and public companies as well as major SOEs in various significant transactions in or through Canada. He has also advised Canadian and international companies in their investment in China and other parts of Asia. Mr. Shao is also an interpreter accredited by the United Nations and by the federal government of Canada. As an interpreter or consultant, he has been involved in numerous ministerial and prime ministerial meetings or negotiations between Canada and China. Kevin Chen Mr. Chen has over 20 years of experience in senior financial executive roles and his work focuses on private and public companies in the mining and technology sector. Mr. Chen began his career as an auditor with KPMG LLP and is a CPA, CMA in British Columbia with an MBA degree from Western University. About Hero Innovation Group Inc. Hero Innovation Group Inc. (formerly, Euro Asia Pay Holdings Inc.) is a developer of innovative financial solutions for the next generation of consumers. Through its flagship product, SideKickTM, introduced in 2018, the Company identified unmet needs in the market within specific demographics, such as international students in Canada, and delivered a product to address those needs. Hero Financials, the Company’s largest product, is targeted at parents, kids and young adults across Canada. With financial literacy at the forefront of the Company’s values and a plethora of advanced proprietary technology features, Hero Financials prepares kids to become financially smart adults through a variety of financial literacy tools. To learn more about Hero Group’s products and services, visit www.heroinnovationgroup.com. On behalf of the Board of Directors Mao Sun CEO For further information, contact: Mao Sun CEO ir@heroinnovationgroup.com
VANCOUVER, B.C. – December 19, 2022 – Hero Innovation Group Inc. (“Hero” or the “Company”) (CSE: HRO) announces that effective December 14, 2022 (the “Effective Date”), it has appointed MSLL CPA, LLP (“MSLL”), Chartered Professional Accountants, at their Vancouver offices at Suite 2110 – 1177 W. Hastings Street, to serve as the Company’s auditor. MSLL replaces Dale Matheson Carr-Hilton LaBonte LLP (“DMCL”), Chartered Professional Accountants, as the Company’s auditor. In accordance with National Instrument 51-102 - Continutous Disclosures Obligations, Hero has filed a copy of its change of auditor notice on SEDAR together with the letters from each of MSLL and DMCL in relation to the foregoing. About Hero Innovation Group Inc. Hero Innovation Group Inc. (formerly, Euro Asia Pay Holdings Inc.) is a developer of innovative financial solutions for the next generation of consumers. Through its flagship product, SideKickTM, introduced in 2018, the Company identified unmet needs in the market within specific demographics, such as international students in Canada, and delivered a product to address those needs. Hero Financials, the Company’s largest product, is targeted at parents, kids and young adults across Canada. With financial literacy at the forefront of the Company’s values and a plethora of advanced proprietary technology features, Hero Financials prepares kids to become financially smart adults through a variety of financial literacy tools. To learn more about Hero Group’s products and services, visit www.heroinnovationgroup.com. On behalf of the Board of Directors Peter MacKay CEO and Director For further information, contact: Peter MacKay CEO and Director ir@heroinnovationgroup.com
