9SP 4.55% 2.3¢ 9 spokes international limited

2021

  1. 481 Posts.
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    2021 is shaping up very well for 9 Spokes IMO - it is becoming more and more obvious that they have the right technology and the right partners, and IMO are in the right place at the right time for an exciting 12 months or so ahead.

    Following $10m CR they were fully funded for two years (assuming current operations), however although recent recruitment suggests they will run out of capital before 2 years, my guess is that they are anticipating revenue growth to more than cater for this shortfall, and will be aiming for CFP in 2021.

    MST Access has valued 9 Spokes at 5 cents per share (current share price: 2.3 cents), and believe that the implications of COVID-19 have further validated 9Spokes’ proposition and make the company more relevant than ever before.

    Whilst it has perhaps taken a while to get here, 9 Spokes now has the right technology and right partners at the right time to enact it's vision and over the next 12 months derive more meaningful revenue.

    So many things in favour of this little Kiwi fintech:
    * interest from major banks (including OCBC, Bank of New Zealand and Bank of America)
    * strong corporate partnerships with Visa, Microsoft and Fundation,
    * other providers outside financial providers may also become partners with the company.
    * re-platformed its products on Microsoft Azure,
    * launched an auto provisioning tool to assist new customer growth by allowing banks to automatically enrol customers
    * expanded its product offerings, with another product set to launch shortly

    Although the stock has not rallied alongside other COVID recovery stories, I believe it is on the cusp of something more spectacular (should it achieve CFP and Visa momentum is realised).

    The value of 9Spokes’ distribution model and its partnerships with Visa, Fundation, Microsoft, and financial institutions is in the ability to grow the Group's reach globally, to accelerate the sales pipeline and, ultimately, drive top-line revenue. The implications of COVID-19 have also further validated 9Spokes proposition and make the company more relevant than ever before. Speaking of COVID, the pandemic-driven change to the way businesses operate coincides with profound changes to lending practices – driven by neo banks and new lending platforms. By adapting to the change caused by the pandemic and focusing on underscoring a real gap in the market, 9Spokes continue to validate their investment of building a bank grade ecosystem. The banking and strategic partners that 9Spokes has established over the past 18 months are critical to this.

    As already mentioned, 9 Spokes has the right technology and the right partners, and IMO is in the right place at the right time.

 
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