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Power In The Community – Alan Green talks to Paysme CEO Derek Stewart
Paysme’s mission is powering the first FinTech Super App championing underserved small business communities to accelerate their transition to a growing digital economy & unlocking their full potential. Alan Green talks to CEO Derek Stewart about the journey to develop the company, and his mission to help our community of small business customers take control of their finances. The opportunity and scale is almost limitless: Derek talks about the Paysme Black Cab app, the Marketti business toolkit app, which includes e-commerce, mobile payments & digital marketing solutions and the FansLive app for football clubs, which helps engage fans through ticketing, club news and social media. We then look at the cash position: Derek talks through the initial funding round, (shareholders include a former Spurs Premier League player), and the current EIS qualifying round, where investors can engage as shareholders through Paysme’s digital investment platform hosted by Globacap. Paysme are raising £1m for a 16% stake in the company.
Align Research: Catenae Innovation (CTEA) Strategic turnaround provides exposure to high value, high growth, blockchain driven products
Catenae Innovation, formerly Milestone Group, is an AIM listed media and technology group which has recently completed a major restructuring under a new senior management team. The refocused strategy concentrates on the areas of media and fintech, delivered via a portfolio of synergous products, via subsidiaries and partnerships which take advantage of blockchain and distributed ledger technology.
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Strategic change focusses on high growth blockchain driven industries
In September last year Catenae commenced a major restructuring under interim CEO Tony Sanders. Along with the cessation of its previous social activities, several contracts in the fintech area deemed unable to deliver satisfactory results were also terminated. The new strategy concentrates on the areas of media and fintech, with the company set to launch a suite of products which use blockchain technology in the coming months.
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Joint venture with music industry veteran leads new approach
In March 2018, Catenae signed a joint-venture agreement with a company majority owned by music and technology industry specialist Martin Heath. The JV, named Trust in Media, will produce payment processing and intellectual property solutions, initially within the media industry, using a combination of private and public blockchain technologies.
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Fintech division provides further opportunities
Catenae is also launching a range of virtual banking and KYC/AML products. Since the company’s review and subsequent cancellation of an agreement with Nasdaq listed Black Cactus Global, Catenae has identified alternative partners to ensure it can provide solutions in this area on a best of breed approach.
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Valuation suggests 107% upside
On a near term EV/EBITDA valuation basis we set an initial target price of 0.28p per share, in excess of X2 the current share price. Recent management stock conversions of accrued fees at a premium to the current stock price underpins further our confidence in prospects for the immediate term. We therefore initiate coverage with a stance of Conviction Buy.
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RISK WARNING & DISCLAIMER
Catenae Innovation is a research client of Align Research. Align Research & a Director of Align Research own shares in Catenae Innovation. For full disclaimer information please refer to the last page of the full document. This investment may not be suitable for your personal circumstances. If you are in any doubt as to its suitability you should seek professional advice. This note does not constitute advice and your capital is at risk. This is a marketing communication and cannot be considered independent research.
