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Mobecom Limited (ASX: MBM) is a full-stack customer engagement technology provider focused on providing liquidity for digital assets through its two primary offerings: Paid by Coins and airBux. The company makes it easy for consumers to convert Digital Assets to Fiat Currency. The company generates revenue through long term contracts, subscriptions and transactions.
The companyâs team includes Mobile, digital and loyalty specialists in South Africa, Singapore and Australia. Together, the companyâs leaders have over 70 years of combined experience in loyalty, mobile payments and marketing. With around 4.5 million active users, the company has been operating in 12 countries. The companyâs monthly transaction value is over $14 million with a monthly transactional count of more than 1.2 million.
Since its ASX listing in October 2017, the company has witnessed a significant boost in its recurring revenue with strong B2B growth. Since listing, the company won major contracts in Singapore, Australia and South Africa, which boosted its recurring revenues over the period.
On 28th November 2018, the company announced the acquisition of 80% of the shares in Paid By Coins from Lakeba Group, in line with the companyâs growth strategy and it will help rapidly advance the business in the digital currency space by providing liquidity for customers with hard to use value such as cryptocurrency.
Recently on 4th April 2019, the company announced a partnership agreement between airBux and Leezair to expand the ecosystem of products and solutions for the airBux customer community. airBux is Mobecomâs digital rewards and payment application, which brings together consumers and merchants to create a double-sided marketplace across multiple industry verticals. Leezair is an Australian TravelTech company shaping the future of tourism through technology innovations.
Under this partnership, Leezair Technology will be integrated into the airBux platform and the travel content and technology capabilities of Leezair will be leveraged within the airBux ecosystem, which will allow customers to browse, book and pay for experiences, tours and activities using a combination of traditional credit cards and cash, whilst also allowing payments using airBux Cash. It is expected that the integration with Leezair will greatly expand the ecosystem of products and solutions for the airBux customer community, including access to more than 1 million tours and activities in 182 countries. Further, it is expected that this service will be available to airBux consumers towards the end of May 2019.
On 15 April 2019, the companyâs shares were placed in a trading halt at the request of MBM, pending an announcement by the company regarding a proposed capital raising. The trading halt will remain in place until the earlier of the commencement of normal trading on Thursday, 18 April 2019 or the release of the announcement regarding the proposed capital raise.
As part of its 2019 growth strategy, the company is focused on more B2B projects and clients and eying on more strategic partnerships to strengthen the technology assets. Further, the company is looking for D2C global expansion to drive scale. It is expected that the annualized group revenue of the company for CY19 will grow over 100% to $6 million.
MBMâs shares last traded at $0.098, with a market capitalisation of circa $21.81 million as on 15th April 2019.
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