Digital Cash

Crunchfish Digital Cash in CBDC evaluation with the Central Bank of Nigeria

2022-11-25|

Crunchfish and Central Bank of Nigeria have entered into a Development and Demonstration Agreement for a Proof-of-Concept of Crunchfish Digital Cash offline payments with the eNaira, Nigeria’s advanced Central Bank Digital Currency project.

Nigeria, Africa's most populous nation, became the first African nation to launch a digital currency – the eNaira – 25 October 2021. A move that will expand access to banking, enable more remittances and grow the Nigerian economy. To increase financial inclusion and add more use cases to the eNaira, the Central Bank of Nigeria (CBN) is in the process of evaluating offline payments.

Crunchfish and CBN have entered into a Development and Demonstration Agreement for a Proof-of-Concept of Crunchfish Digital Cash. Crunchfish will deliver Digital Cash for iOS and Android and support CBN throughout this process. The Proof-of-Concept will integrate Digital Cash into the eNaira Wallet and backend to fully evaluate the user experience in a potential commercial deployment.

“We very much look forward to work closely with the Central Bank of Nigeria in this evaluation of offline payments in their advanced CBDC project. eNaira was one of the first CBDC projects in the world to be launched and it is very advanced with millions of users. Africa is extremely interesting for Crunchfish as communities here need offline payment the most. It is a great start in this vast continent to showcase the power of Digital Cash in Africa’s most populous country and with the Central Bank of Nigeria.” says Patrik Lindeberg, CEO Crunchfish Digital Cash AB.

About eNaira – http://www.enaira.gov.ng
eNaira is a people-oriented digital currency leveraging technology to connect individuals and businesses for easy trading and financial inclusion. eNaira push the boundaries, bridge the gaps, and tell actual humane stories. eNaira is the foremost audience-centric digital currency brandishing a face.

For more information, please contact:
Joachim Samuelsson, CEO of Crunchfish AB
+46 708 46 47 88
joachim.samuelsson@crunchfish.com

This information is information that Crunchfish AB is obliged to publish in accordance with the EU Market Abuse Regulation. The information was provided by the contact person above for publication on 25 November 2022 at 08:30 CET.

Västra Hamnen Corporate Finance AB is the Certified Adviser. Email: ca@vhcorp.se. Telephone +46 40 200 250.

About Crunchfish – crunchfish.com
Crunchfish is a deep tech company developing a Digital Cash platform for Banks, Payment Services and CBDC implementations and Gesture Interaction technology for AR/VR and automotive industry. Crunchfish is listed on Nasdaq First North Growth Market since 2016, with headquarters in Malmö, Sweden and with subsidiary in India.

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Interview with CEO Joachim Samuelsson about pivotal mobile telecom partnership for Africa

Crunchfish AB (“Crunchfish”) publishes an interview with CEO Joachim Samuelsson about the new pivotal mobile telecom partnership for Africa.

 

 

Crunchfish announced in the press release https://news.cision.com/crunchfish/r/crunchfish-join-pivotal-mobile-telecom-partnership-for-africa,c3671838 that the company joined a new pivotal partnership to enable mobile operations and services in Africa with financing, telecom network infrastructure and disruptive technologies using an Anything-as-a-service mindset.

 

Today, Crunchfish published an interview with CEO Joachim Samuelsson about the new partnership. The interview is available via this link.

 

Crunchfish’s partners Socio and Eferio Communications are participating today at the Nordic innovative digital solutions in Africa conference. Read more about the event via this link.

 

For more information, please contact:

Joachim Samuelsson, CEO of Crunchfish AB

+46 708 46 47 88

joachim.samuelsson@crunchfish.com 

 

 

Västra Hamnen Corporate Finance AB is the Certified Adviser. Email: ca@vhcorp.se. Telephone +46 40 200 250.

 

 

About Crunchfish – crunchfish.com

Crunchfish is a deep tech company developing a Digital Cash platform for Banks, Payment Services and CBDC implementations and Gesture Interaction technology for AR/VR, automotive and digital interfaces. Crunchfish is listed on Nasdaq First North Growth Market since 2016, with headquarters in Malmö, Sweden and with representation in India.

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Crunchfish join pivotal mobile telecom partnership for Africa

Crunchfish join a new pivotal partnership with the objective to enable mobile operations and services in Africa with financing, telecom network infrastructure and disruptive technologies using an Anything-as-a-service mindset. Crunchfish AB have today signed a Memorandum of Understanding with Socio ApS, the Danish management and investment company behind the partnership, for potential financing of Crunchfish.

The objective of this partnership is to enable the digital infrastructure across Africa to fill critical gaps by enabling mobile services with telecom infrastructure and disruptive technologies, to provide significantly better cost structures, use cases and quality. The mindset is Anything-as-a-service to make it possible for companies and entrepreneurs to enter the mobile telecom industry with very little CAPEX.

The partnership includes mobile telco group Eferio Communications A/S, Telecom network provider Radiocloud AB, mobile antenna pioneer Radio Innovation AB and offline payments pioneer Crunchfish AB. The management and investment company behind this partnership is Socio ApS, which in turn partner with Revenue Share Capital, with the aim to provide financing, subject to due diligence, by equity investments and non-dilutive revenue sharing models, to enable mobile operations and services in Africa and other emerging markets.

Crunchfish have today signed a Memorandum of Understanding with Socio for a potential financing of Crunchfish. Socio intend, subject to due diligence, to make an initial direct equity investment into Crunchfish for three million shares on market-based terms and conditions. After the initial investment, additional financing can be made available in the form of further equity investments or based on non-dilutive revenue-sharing models. Socio have the financial instruments ready to bring this investment in place within three months from today.

Despite huge infrastructure developments, more than 70% of Africa’s 1.2 billion citizens are still not connected to the Internet, and a large portion of already connected are struggling with bad or slow online connections. Many barriers keep people and businesses from using mobile services and stops digital transformations to be implemented. This challenging situation is similar in many emerging markets in Africa, Asia and Latin America. In India, for instance, more than 50% of the 1.4 billion population lack internet connectivity.

”New entrants into high-growth telco markets traditionally need extensive infrastructure, technology, and financial resources. We enable mobile operations with disruptive technology and financing solutions. A game changer that creates inclusion into the digital society for millions of people and companies. We are extremely pleased to have Crunchfish to join as a partner as mobile payments services can be rolled out much faster with offline payments.”, says Jørgen Gransøe, CEO of Socio ApS.   

“This partnership is extremely important for Crunchfish for several reasons. It is an excellent entry ticket to Africa, where our offline payment solution can be made available to countries and communities where it is needed the most. We will also get a chance to develop Digital Cash for mobile telecom operators, which play a key role in delivering payment services for many emerging markets. Furthermore, Crunchfish may get access to financing as we accelerate our roll-out”, says Joachim Samuelsson, CEO of Crunchfish.

About Socio ApS, CEO Jørgen Gransøe
Socio is a business enabler and investment company focusing on telecommunications and fintech by building infrastructure and operations on the African continent and on other emerging markets. Socio invests in technologies and concepts that enhance the entire value-chain, from the mobile network to the consumer.

About Eferio Communications A/S, CEO Richard Murbeck
Eferios objective is to become a major player in the digital infrastructure sector across Africa. Our strategy is to build a group of network operators through roll-up mergers and a comprehensive application of revenue-based financing. We will then over time turn these assets into Multibrand-Operators where we use Connectivity-as-a-service, Spectrum-as-a-service and have the best Multibrand platform at hand. It’s our belief that our business and technology operations are most successfully served by sourcing from leading global technology partners with deployment of country-specific knowledge and experience via local high-skilled personnel. Eferio Communications has its HQ in Kenya with a geographical separated entity Socio ApS for legal and financial operations with HQ in Denmark.

About Radiocloud AB, CEO Anil Raj
Radiocloud AB is a digital infrastructure company focused on building and operating shared passive and active networking infrastructure in developing economies. Sharing infrastructure reduces financial risks and increases viability and profitability for network operators allowing them to focus on developing and providing new services to their customers. Radiocloud works in close cooperation with mobile network operators, regulators, financial institutions and technology providers to direct capital, resources, and technology to developing markets helping reduce barriers to entry and bridging access to the internet to underserved markets and communities. With its headquarters in Sweden, Radiocloud is led by a highly experienced management team tracing its roots back to the earliest days of the mobile industry.

About Radio Innovation AB, CEO Dusyant Patel
Radio Innovation is a unique and innovative communications infrastructure company, developing disruptive antenna solutions that help CSP’s (Communications service providers) or PN’s (Private Networks) cut CAPEX and OPEX up to 85%, making it profitable to cover even the most rural areas, with reliable and affordable mobile connectivity. The technology works by reducing the number of tower sites while using extremely efficient antenna technology. With less sites Radio Innovation dramatically reduces the environmental footprint while also enabling city areas to go higher in their capacity needs without the need  to build new infrastructure, but by just replacing the antennas on the existing tower sites. Radio Innovations mission is to give every individual an equal opportunity to be digitally included no matter where in the world they are.

For more information, please contact:
Joachim Samuelsson, CEO of Crunchfish AB
+46 708 46 47 88
joachim.samuelsson@crunchfish.com 

This information is Crunchfish AB obliged to publish in accordance with the EU Market Abuse Regulation. The information was provided by the contact person above for publication on 23 November 2022 at 16:00 CET.

Västra Hamnen Corporate Finance AB is the Certified Adviser. Email: ca@vhcorp.se. Telephone +46 40 200 250.

About Crunchfish – crunchfish.com
Crunchfish is a deep tech company developing a Digital Cash platform for Banks, Payment Services and CBDC implementations and Gesture Interaction technology for AR/VR and automotive industry. Crunchfish is listed on Nasdaq First North Growth Market since 2016, with headquarters in Malmö, Sweden and with a subsidiary in India.

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Crunchfish partner with a financial platform provider in India to create Turnkey Offline Payment Solution

2022-11-22|

Crunchfish partner with a financial platform provider to create a Turnkey Offline Payment Solution for banks and payment services. The financial platform provider has almost 100 existing integrations with Indian banks already. Roll-out of Crunchfish Digital Cash is expected to accelerate with this turnkey solution as it may be used by any bank or payment service.

Crunchfish and a financial platform provider in India have entered into a partnership where Crunchfish will deliver Digital Cash SDK for integration into the provider’s financial platform to create a turnkey solution for offline payments. The financial platform provider has almost 100 integrations with banks in India for various online payment use cases with the same Reserve, Pay and Settle methodology as promoted by Crunchfish. This integration adds offline payment as a use case. It will accelerate Digital Cash onboarding of banks or payment service as the financial platform is already integrated with many Core Banking Systems and the integration can be re-used by banks and payment services.

“Crunchfish Digital Cash footprint is increasing fast. This partnership provides access to many new banking prospects and will accelerate our Digital Cash roll-out in India”, says Joachim Samuelsson, Crunchfish CEO.

The integration effort will start immediately and will become an option for banks and payment services that want to deliver offline payments with Crunchfish Digital Cash in India. The financial platform provider also plans to support for the recently announced Digital Cash 1.3 version, enabling offline payments over telecom networks, when it becomes available.

This integration is separate from the previously announced Digital Cash integration for offline payments with HDFC Bank in RBI regulatory sandbox in India.   

For more information, please contact:
Joachim Samuelsson, CEO of Crunchfish AB
+46 708 46 47 88
joachim.samuelsson@crunchfish.com 

This information was provided by the contact person above for publication on 22 November 2022 at 08:30 CET.

Västra Hamnen Corporate Finance AB is the Certified Adviser. Email: ca@vhcorp.se. Telephone +46 40 200 250.

About Crunchfish – crunchfish.com
Crunchfish is a deep tech company developing a Digital Cash platform for Banks, Payment Services and CBDC implementations and Gesture Interaction technology for AR/VR and automotive industry. Crunchfish is listed on Nasdaq First North Growth Market since 2016, with headquarters in Malmö, Sweden and with subsidiary in India.

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Västra Hamnen Corporate Finance publishes an updated equity analysis on Crunchfish

Västra Hamnen Corporate Finance has published an updated equity analysis on Crunchfish titled “Fishing for bigger deals”. The model has been reworked to include the Gesture Interaction order from OPPO and Crunchfish is formally approved for the RBI’s regulatory sandbox. The share price interval of 41.60 SEK – 66.20 SEK is unchanged.

 

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Automatiskt genererad beskrivning

 

As a service to the company’s shareholders and to increase transparency, Crunchfish has commissioned Västra Hamnen to conduct analysis of the company. The analysis includes an independent review of the company, markets, products, and competitors, as well as a financial scenario that serves as a basis for a discounted cash flow estimation of the company’s market cap.

 

In the analysis, Västra Hamnen writes: “Crunchfish reported a stronger net result than expected in Q3, largely because of a substantial upfront payment within the Gesture Interaction business area. The development in this segment has continuously showcased technological improvement and implementation in the AR/VR market. Within Digital Cash, Crunchfish released their new improved version Digital Cash 1.3 and received final approval for the Reserve bank of India’s regulatory sandbox which is expected to start in December 2022.”

 

The analysis states an unchanged share price interval according to the DCF model of 41.60 SEK – 66.20 SEK per share. The analysis is attached and available on Västra Hamnen’s and Crunchfish’s websites.

 

For more information, please contact:

Joachim Samuelsson, CEO of Crunchfish AB

+46 708 46 47 88

joachim.samuelsson@crunchfish.com 

 

This information was provided by the contact person above for publication on 21 November 2022 at 10:30 CET.

 

Västra Hamnen Corporate Finance AB is the Certified Adviser. Email: ca@vhcorp.se. Telephone +46 40 200 250.

 

 

About Crunchfish – crunchfish.com

Crunchfish is a deep tech company developing a Digital Cash platform for Banks, Payment Services and CBDC implementations and Gesture Interaction technology for AR/VR, automotive and digital interfaces. Crunchfish is listed on Nasdaq First North Growth Market since 2016, with headquarters in Malmö, Sweden and with representation in India.

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Crunchfish presents at Investerardagen 2 December 2022

2022-11-18|

Big deals are coming – the theme of Crunchfish’s presentation at Västra Hamnen Corporate Finance Investerardagen on Friday, 2 December, at 14:30 CET. Joachim Samuelsson, Group CEO at Crunchfish, provides an overview of Crunchfish’s business and future plans within Digital Cash and Gesture Interaction. 

 

Follow the link below to register for the event

Investerardagen-2-december-2022

 

Crunchfish presentation will be webcast live. The live broadcast will be available at

https://www.vhcorp.se/

 

Use the opportunity to ask your questions to the presenter, by email info@vhcorp.se or in the live-chat during the webcast.

For more information, please contact:

Joachim Samuelsson, CEO of Crunchfish AB

+46 708 46 47 88

joachim.samuelsson@crunchfish.com 

 

 

Västra Hamnen Corporate Finance AB is the Certified Adviser. Email: ca@vhcorp.se. Telephone +46 40 200 250.

 

 

About Crunchfish – crunchfish.com

Crunchfish is a deep tech company developing a Digital Cash platform for Banks, Payment Services and CBDC implementations and Gesture Interaction technology for AR/VR, automotive and digital interfaces. Crunchfish is listed on Nasdaq First North Growth Market since 2016, with headquarters in Malmö, Sweden and with a subsidiary in India.

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