On May 21, Västra Hamnen Corporate Finance published an updated analysis on Crunchfish titled “Crunchfish: Business model firming up”. The analysis is available as an attached document and through this link.

In the analysis, Västra Hamnen writes: “Our most recent research update on Crunchfish, in which we revised our valuation of the company sharply upwards, was published in mid-April. The company has already released a string of news since then, of which the majority relate to digital payments. First and foremost, the company has intensified its focus on central banks and widened the geographic scope of its central bank digital currency (CBDC) offering to the whole world. Central banks around the world grapple with the question of how to maintain control of their currency when societies go cash-less and new currencies like cryptocurrencies challenge their position.”

In the analysis, an unchanged share price interval according to the DCF model of 49,80 SEK – 79,50 SEK per share is stated. The full analysis is available on Västra Hamnen’s and Crunchfish’s websites.

In connection with the publication of the Q1 report, a live interview with Joachim Samuelsson and Alf Riple, head analyst at Västra Hamnen, was done. This interview is available here:

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

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

Ulf Rogius Svensson, IR & Marketing Manager
+46 733 26 81 05
ulf.rogius.svensson@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 technical pioneer within digital payments with its ground-breaking Digital Cash Wallet using a two-step payment process, first clearing offline followed by online settlement, which makes digital payments robust and independent from the net. Crunchfish Digital Cash Wallet is extremely flexible and may be used with all types of payment services. Crunchfish has also developed Blippit, an app terminal that connects to cash register systems for both online and offline payments and have a patent-pending solution to reduce food waste. Crunchfish also develops gesture control of smart AR glasses for the consumer market. Crunchfish is listed on Nasdaq First North Growth Market since 2016, with headquarters in Malmö, Sweden and with representation in India.

Today, on April 14, Västra Hamnen Corporate Finance has published an updated analysis on Crunchfish titled “Crunchfish: Diligent dash for Digital Cash”. The analysis is available as an attached document and through this link.

In the analysis, Västra Hamnen writes: “Crunchfish is undergoing a fast reorientation, where the company’s business model is increasingly centered on its digital cash solution. And with good reason. If the company can get payment providers to join its open standard for cross-currency and cross-platform payments, it could unite billions of digital wallets on a common platform that defines digital cash. It would enable an unprecedented degree of interoperability in the payment space. Crunchfish is just starting to specify its revenue model. Even at very low wallet fees, Crunchfish as facilitator of the platform could stand to reap a massive fee income, given the high number of potential users. In our first attempt to value the opportunity, we apply tough risk adjustments but nevertheless end up raising our valuation interval to SEK 49.80 – 79.50 per share.”

In the analysis, an updated share price interval according to the DCF model of 49,80 SEK – 79,50 SEK per share is stated. The full analysis is available on Västra Hamnen’s and Crunchfish’s websites.

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

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

Ulf Rogius Svensson, IR & Marketing Manager
+46 733 26 81 05
ulf.rogius.svensson@crunchfish.com

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

About Crunchfish – crunchfish.com/digitalcash
Crunchfish is a technical pioneer within digital payments with its ground-breaking Digital Cash Wallet using a two-step payment process, first clearing offline followed by online settlement, which makes digital payments robust and independent from the net. Crunchfish Digital Cash Wallet is extremely flexible and may be used with all types of payment services. It is interoperable cross-service/schemes and cross-borders/currencies. It truly delivers the properties of cash, such as instant clearing, offline payments and preserving the payer’s integrity, without requiring any changes to the central or commercial banking infrastructure. This enables CBDC to be rolled out fast in any country.

We have also developed Blippit, an app terminal that connects to cash register systems for both online and offline payments and have a patent-pending solution to reduce food waste. Crunchfish also develops gesture control of smart AR glasses for the consumer market.

Crunchfish is listed on Nasdaq First North Growth Market since 2016, with headquarters in Malmö, Sweden and with representation in India.

Wet market in Malmö. Crunchfish’s digital cash offers mobile wallets and payment rails the same simplicity, robustness and personal privacy as physical cash. Cash is the best means of payment. It always works, it’s easy to handle and it safeguards personal privacy. These features need to be preserved when cash goes digital. The transformation will […]

Wet market in Malmö. Crunchfish’s digital cash offers mobile wallets and payment rails the same simplicity, robustness and personal privacy as physical cash.

Cash is the best means of payment. It always works, it’s easy to handle and it safeguards personal privacy. These features need to be preserved when cash goes digital. The transformation will be rapid as digital cash will be present in all mobile wallets in the future.

Digital payments are available in many forms. Card payments compete with mobile wallets where money is transferred instantly between accounts. In parallel, central banks across the globe are investigating how their national currency will be digitized. What these payment methods have in common is that they are all dependent on a network connectivity to work.

– In order for transactions to work flexibly, securely and immediately, you have to drop the connectivity requirement and instead replicate the features of physical cash. To emulate physical cash, radical thinking and new technology is needed. Crunchfish has the solution for digital cash and offers it to mobile wallets as well as the payment rails, says Joachim Samuelsson, CEO of Crunchfish.

Integration directly with the payment rails
Crunchfish’s digital cash can be integrated with mobile wallets or directly with the digital payment rails. This creates enormous scalability since digital cash will be enabled in all mobile wallets using the payment rail. For the card infrastructure, Crunchfish’s digital cash brings another great advantage, as the merchant doesn’t need to have a card terminal to accept payments. Instead, the integration is done by Crunchfish’s offline payment solution. A similar integration is also possible for the central bank’s rails for digital currency, in order for it to be used offline or when any of the necessary cloud services are down.

– As for security, we use the same tried and tested technology as in tokenized card payments, where transactions are signed digitally from a secure element in the payment app. An offline balance is debited in the mobile and the payment is guaranteed even if the payee is offline. The payment is ear-marked for the payee and transferred via QR, NFC or BLE, to be verified by the payee either in a mobile, card terminal or directly in a cash register. The transactions – which are saved by both parties – are settled later when either party connects online, Joachim Samuelsson continues.

Integration with the payment rails for central bank digital currency (CBDC) and EMV card infrastructure. Crunchfish’s offline mobile payment solution for digital cash may be integrated with all payment rails.

Digital cash – a new standard for payments
Digital cash are always transferred immediately and swimmingly easy since they are independent of anything that can go wrong online.

– Crunchfish’s vision is that we will continue to pay with cash, but in a digital form. Only when you need access to more money than you have available in the mobile wallet do you need to connect online.

ABOUT CRUNCHFISH – crunchfish.com
Crunchfish develops globally scalable solutions for digital cash, eliminating all online risks from disruptions and downtime. Crunchfish is listed on Nasdaq First North Growth Market since 2016.

Blippit, delägt dotterbolag till Crunchfish Proximity, visar upp den smidiga installationen och interaktionen med Ticksters kassasystem Boxpoint. Boxpoint finns i över 3 000 installationer på marknaden. Blippit behöver bara pluggas in för att fungera med Boxpoint. Lika enkelt är det för kunder att betala med Swish i Boxpoint med ett blipp och sedan ett godkännande i […]

Blippit, delägt dotterbolag till Crunchfish Proximity, visar upp den smidiga installationen och interaktionen med Ticksters kassasystem Boxpoint. Boxpoint finns i över 3 000 installationer på marknaden. Blippit behöver bara pluggas in för att fungera med Boxpoint. Lika enkelt är det för kunder att betala med Swish i Boxpoint med ett blipp och sedan ett godkännande i mobilen som vanligt. Att användningen är enkel för handlare och kunder är viktigt för både utrullning och skalbarhet.

Tickster erbjuder kassasystem för att användas på evenemang av arrangörer inom musik, kultur och sport. Tickster möjliggör en effektiv försäljningsprocess, betalning och administration både online, inför ett evenemang och på plats när evenemanget äger rum. Det är lika enkelt att installera och betala via Blippit i Ticksters andra kassasystem Blink.

Bifogar en kort film om den enkla installationen av appterminalen och betalningsinteraktionen.
https://youtu.be/1IeRlAWkSFc

”Tickster har gjort ett snyggt jobb med integrationen av Blippit. Vi ser fram emot när det börjar swishas på evenemang”, kommenterar Joachim Samuelsson, VD på Blippit.

”Vi ser fram emot att erbjuda våra kunder möjlighet att ta emot Swishbetalningar på evenemangen. Imponerad över hur enkelt det är att bara plugga in och sedan börja ta emot Swishbetalningar via Blippit”, säger Johan Skogsberg, försäljningschef på Tickster.

För mer information kontakta:
Joachim Samuelsson, VD för Blippit
+46 708 464 788
joachim.samuelsson@crunchfish.com

Joakim Nydemark, VD Crunchfish
+46 706 35 16 09
ir@crunchfish.com

Om Crunchfish – crunchfish.com

Crunchfish AB (”Crunchfish”) utvecklar och marknadsför patenterade interaktionslösningar för mobil handel och augmented reality. Verksamheten kring mobil handel bedrivs i dotterbolaget Crunchfish Proximity med fokus på närhets­baserad interaktion. Med egenutvecklad appterminal och mjukvara möjliggörs blippbar kuponginlösen och betalning. Kommersialiseringen görs i samarbete med ClearOn i det gemensamma bolaget Blippit. Inom AR erbjuder bolaget mjukvara för geststyrning av AR-glasögon och annan konsumentelektronik. Mjukvaran är en av de ledande i världen och finns i tiotals miljoner enheter på marknaden genom kunder som OPPO, Epson och Lenovo. Crunchfish är noterat på Nasdaq First North Growth Market sedan 2016. Företaget grundades 2010 med huvudkontor i Malmö.

Blippit, delägt dotterbolag till Crunchfish Proximity, har ingått avtal med Tickster om integration och pilottester av Blippits appterminal med Ticksters kassasystem Blink och BoxPoint. Kassasystemen kommer bli första ut på marknaden med möjligheten att Swisha med Blippit. Ticksters erbjuder kassasystem för att användas på evenemang av arrangörer inom musik, kultur och sport. Bland kunderna finns bl.a. […]

Blippit, delägt dotterbolag till Crunchfish Proximity, har ingått avtal med Tickster om integration och pilottester av Blippits appterminal med Ticksters kassasystem Blink och BoxPoint. Kassasystemen kommer bli första ut på marknaden med möjligheten att Swisha med Blippit.

Ticksters erbjuder kassasystem för att användas på evenemang av arrangörer inom musik, kultur och sport. Bland kunderna finns bl.a. Liseberg, Sweden Rock, Färjestad BK, HV71, Uppsala Konsert & Kongress och Vasaloppet. Tickster möjliggör en effektiv försäljningsprocess, betalning och administration både online, inför ett evenemang och på plats när evenemanget äger rum.

Blippit har integrerats med Ticksters kassasystem Blink och BoxPoint. Detta innebär att appterminalen fungerar ihop med Ticksters båda kassasystem på liknande sätt som en kortterminal och att appterminalen blir bryggan som möjliggör Swish-betalning med ett blipp. Blippit och Tickster diskuterar nu lämpliga kunder för pilottester.

”Vi är mycket glada att komma ut i marknaden tillsammans med Tickster och att integrationen både gick både snabbt och smidigt. Tickster har flera intressanta kunder, däribland Liseberg och ett antal SHL-klubbar, genom vilka vi skulle kunna göra pilottester av appterminalen. Tillsammans kommer vi nu arbeta för att göra det enkelt att Swisha på evenemang”, kommenterar Joachim Samuelsson, VD på Blippit.

”Vi är riktigt nöjda med att vara det första kassasystemet som erbjuder snabba Swish-betalningar i fysisk miljö. Vi tror att detta kommer mottas riktigt bra av våra kunder”, säger Johan Skogsberg, försäljningschef på Tickster.

För mer information kontakta:
Joachim Samuelsson, VD för Blippit och styrelseordförande för Crunchfish
+46 708 464 788
joachim.samuelsson@crunchfish.com

Joakim Nydemark, VD Crunchfish
+46 706 351 609
ir@crunchfish.com

Västra Hamnen Corporate Finance AB är Certified Adviser. Epost: ca@vhcorp.se. Telefon +46 40 200 250.

Denna information är sådan information som Crunchfish AB är skyldigt att offentliggöra enligt EU:s marknadsmissbruksförordning. Informationen lämnades, genom ovanstående kontaktpersons försorg, för offentliggörande den 6 december 2019.

Om Crunchfish – crunchfish.com

Crunchfish AB (”Crunchfish”) utvecklar och marknadsför patenterade interaktionslösningar för mobil handel och augmented reality. Verksamheten kring mobil handel bedrivs i dotterbolaget Crunchfish Proximity med fokus på närhets­baserad interaktion. Med egenutvecklad appterminal och mjukvara möjliggörs blippbar kuponginlösen och betalning. Kommersialiseringen görs i samarbete med ClearOn i det gemensamma bolaget Blippit. Inom AR erbjuder bolaget mjukvara för geststyrning av AR-glasögon och annan konsumentelektronik. Mjukvaran är en av de ledande i världen och finns i tiotals miljoner enheter på marknaden genom kunder som OPPO, Epson och Lenovo. Crunchfish är noterat på Nasdaq First North Growth Market sedan 2016. Företaget grundades 2010 med huvudkontor i Malmö.

The Crunchfish partner Nibiru enters a cooperation with Chinese Shenzhen ARTS-STAR Technology to ship AR-glasses under the brand Polaroid. Nibiru will deliver its AR-system, including touchless gesture control from Crunchfish, for use in Polaroid branded all-in-one AR-HMD (Head Mounted Display). Nasdaq First North-listed Crunchfish entered a partnership with the Chinese company Nibiru in 2018, where […]

The Crunchfish partner Nibiru enters a cooperation with Chinese Shenzhen ARTS-STAR Technology to ship AR-glasses under the brand Polaroid. Nibiru will deliver its AR-system, including touchless gesture control from Crunchfish, for use in Polaroid branded all-in-one AR-HMD (Head Mounted Display).

Nasdaq First North-listed Crunchfish entered a partnership with the Chinese company Nibiru in 2018, where they will re-sell Crunchfish’s gesture control technology as an integrated part of their system for AR and VR. Nibiru has now signed agreement with Chinese based Shenzhen ARTS-STAR Technology for a Polaroid branded all-in-one AR-HMD.

The Polaroid AR-HMD is initially for the Chinese market but target a global market as a next step. The AR-HMD has a consumer profile but will also target other areas like museums and education.

“The collaboration between Nibiru and Crunchfish enhance the interactive ability of Nibiru AR- system. The convenient and lightweight gesture interaction adds more usage scenarios of XR. Nibiru and Crunchfish mutually benefit from their cooperation and work together to provide more user-operation friendly AR/VR interactive technology”, says Nibiru VP Peter Liu.

“On the basis of not increasing any hardware cost, we make our devices and interaction more convenient and user-operation friendly. As for our products, product strength and market competitiveness have been improved. Nibiru and Crunchfish provide us with an integrated solution that allows us to focus only on production” says Polaroid General Manager Jeff Zou.

“We are very happy to be part of Nibiru’s successful roll-out of their AR-system. Polaroid is a strong brand and will play an important role in the marketing of our joint offer with Nibiru”, says Crunchfish CEO Joakim Nydemark.

The cooperation with Nibiru strengthens Crunchfish’s position further as one of the leading suppliers of gesture control for smart AR-glasses. Over the last year, Crunchfish has entered several strategic partnerships with major global players, which is a key factor for success in a growing market.

For more information, please contact:

Joakim Nydemark, CEO,
+46 706 351 609,
joakim.nydemark@crunchfish.com