Reklaim CEO Neil Sweeney talks to Cantech Letter

Reklaim (Reklaim Inventory Quote, Chart, Information, Analysts, Financials TSXV:MYID) founder and CEO Neil Sweeney mentioned the corporate’s method to client knowledge possession with Ticker Take host Jon Erlichman in the course of the 2025 Cantech Funding Convention in Toronto on Oct. 9.

Toronto-based Reklaim gives a platform that enables people to confirm their identification, view the private data collected about them on-line, and both monetize or defend that knowledge.

Sweeney mentioned the corporate was based on the concept that each client has a digital profile however no management over it.

REKLAIM CEO NEIL SWEENEY SITS DOWN WITH JON ERLICHMAN AT THE CANTECH INVESTMENT CONFERENCE

“Each client on the earth has a knowledge profile, no one has entry to that knowledge profile, and but it acts actually as a free enter to each enterprise AI agent on the market,” he mentioned.

Reklaim’s platform permits customers to reclaim their knowledge, place it below their management, and determine whether or not to promote it on to manufacturers and AI platforms in alternate for compensation or defend it by requesting elimination from 1000’s of information brokers.

“That is about customers taking again from the assorted totally different corporations which have actually been utilizing their knowledge with out actually their consent or permission for the final 20-plus years,” he mentioned.

Requested in regards to the enterprise mannequin, Sweeney described two fundamental income streams: a rewards aspect and a defend aspect.

“We facilitate the transaction between an promoting company or UPS and the person client to permit that knowledge to switch. We take a fee. Each time knowledge is bought, naturally, the extra knowledge that we promote, the more cash we make,” he mentioned.

Reklaim’s reward enterprise, he added, is worthwhile with 80% margins, no debt, and progress above 30% yearly. On the defend aspect, customers subscribe for between US$3 and US$5 monthly, or US$25 per 12 months, to have Reklaim monitor their profile, take away them from dealer lists, and register them on do-not-sell databases.

Sweeney mentioned Reklaim’s subsequent part of progress is concentrated on constructing its Defend product and increasing subscriptions.

“We only in the near past employed a former senior chief from Norton to come back in and run that product,” he mentioned. The corporate goals to succeed in 100,000 subscribers, which he mentioned would translate into roughly a 50% improve in annual income.

He added that Reklaim has additionally launched a brand new rewards characteristic known as the Jackpot, which permits customers to pool small earnings for an opportunity to win a bigger money prize.

“Final month we gave it to a lady in Virginia who used the $10,000 to purchase a automobile,” he mentioned, calling it an instance of how customers can expertise “life-changing issues” by taking management of their knowledge.

Sweeney mentioned Reklaim is well-positioned to profit as extra customers search transparency and management over their private data, including that momentum is constructing throughout each its reward and defend companies.

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