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Clifford Bennett
Chief Economist | World’s most accurate currency forecaster at Clifford Bennett has over 36 years of market trading experience and was named the 'World's most accurate currency forecaster' by Bloomberg New York. He has advised some of the world's largest organisations, billionaire investors, and political leaders an
- 02:00 am
- Klarna research reveals that a third of UK adults (32%) feel too uncomfortable to talk about money with peers, despite 44% worrying regularly about money
- A fifth (21%) have never discussed personal finances with friends or family, with 34% feeling too awkward to bring up the topic
- New data from Klarna coincides with the digital launch of its taboo-breaking and fun Money Talks card game after 16,000 people registered for the original card game
- Accessible to everyone, the game combines questions around money habits with a fun twist to help break the stigma around money
Klarna, the leading global banking, payments and shopping service that helps consumers save time, money, make informed decisions and manage their cashflow, has today launched the digital version of its successful Money Talks card game to help break down the barriers around money discussions.
New research from Klarna, coinciding with the digital launch of the conversation-starting Money Talks game, highlights the stark number of UK adults avoiding talking about money. It found that over a fifth of adults (21%) have never discussed money with a friend or family member and it doesn’t get any easier as people get older either, with 27% of over 55s admitting to have never discussed money issues with those closest to them.
The research further reveals the top five barriers to discussing personal finances with family and friends. Awkwardness tops the list (34%), closely followed by feeling discussing money would be an invasion of privacy (30%). Other barriers to financial discussion include the potential for making the other person feel uncomfortable (26%), potential for judgment from others (26%) and the pressures of comparing against peers (19%). Only by opening up the conversation in a comfortable and enjoyable environment, can these barriers be broken.
Informed by the Social Vulnerability Scale, which is proven to foster closeness in conversation through mutual vulnerability, Klarna’s Money Talks digital card game seeks to unlock open and honest financial discussions between players in a positive and fun way. With data showing that over two in five of UK adults (44%) worry regularly about money, the game aims to create an inclusive environment to discuss personal finances. Reflecting the Scale, the game comprises three levels and a wildcard round, with each level touching on a different theme including relationships, personal habits, mindsets and financial basics and is accessible to everyone.
Alex Marsh, Head of Klarna UK said: “As the old adage goes: ‘a problem shared is a problem halved’, but too often there are barriers in the way preventing people from discussing financial matters with family and friends. As humans, we’re inclined to bottle up our financial fears for a number of reasons and this new data offers a snapshot of why that is. Klarna is committed to educating our users about responsible spending and encouraging financial wellness. Following the positive feedback from consumers around the Money Talks card game last year, we wanted to ensure as many people as possible could get their hands on the game so we have now created a digital version in order to spark conversation about money. By launching this digital version of the game, we hope to reach a wider audience and generate greater awareness around the importance of discussing financial matters.``
The digital version of the Money Talks game can be accessed online at www.klarnamoneytalks.com.
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- 04:00 am
Moorwand, a payments solutions provider, offering BIN sponsorship and issuing services, today announced the launch of its suite of payments compliance services. The suite aims to improve the financial crime systems and controls for Moorwand clients whilst reducing the administrative burden and improving operational efficiencies.
From anti-money laundering (AML) to Know Your Customer regulations financial service providers need to comply with a growing number of increasingly complex and stringent requirements around payments. In 2021 non-compliance with AML regulations grew to $5.35bn globally (Fenergo, 2022). This has prompted the systemic overhaul of AML/CFT regimes by policy makers. In the UK the HMT has called for evidence on the UK’s regime while the European Commission recently proposed a new Anti-Money Laundering Authority to address the scale of the issue.
This ever-changing compliance landscape is creating more complexity at a time of increased scrutiny for firms. In response, Moorwand’s suite of compliance services ensures financial service providers better understand the compliance environment they operate under and mitigate any risks well in advance. Services are focused on reducing risk for providers across money laundering, terrorism financing, fraud (including APP) and other financial crimes.
Moorwand’s suite of compliance services includes:
- Policies and procedures drafting
- End user onboarding services – either full end-to-end or bespoke
- End user screening for PEPS, sanctions and adverse media
- Dedicated onboarding resources for manual reviews
- Transaction monitoring system for Digital Banking
- Transaction monitoring assistance for issuing programmes
- Training for Programme Manager staff
Firms can mix and scale the suite of services to meet their specific compliance needs and even have Moorwand manage the entire function on their behalf.
“The payments space has witnessed exponential growth in the last decade and there’s no signs of it slowing down. The strong growth has also meant unprecedented enforcement actions, particularly over the pandemic, as regulators seek to combat bad actors. The resulting complexity and scrutiny means the importance of compliance cannot be understated,” said Vicki Gladstone, CEO of Moorwand. “Our deep legal and payments expertise ensure our clients are compliant today, whilst we help them to anticipate the next wave of regulations they’ll need to comply with tomorrow. Moorwand’s suite of compliance services distils this expertise and know-how into products and tools that give our clients the very best risk management capabilities on the market.”
Moorwand’s compliance suite includes services that may only be used on a one-off basis, and others that may be added or changed based on the requirements of the financial service provider.
To learn more about the services offered by Moorwand, please visit this link.
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- 09:00 am
GoldenSource, the leading independent provider of Enterprise Data Management (EDM) and Master Data Management (MDM) solutions, today announced that it has integrated FactSet content into their ‘GoldenSource ESG Impact” product and will be listed on the Open:FactSet Marketplace, the platform for premier data applications and workflow solutions tailored for investment professionals.
Integrating FactSet content, including Truvalue Labs ESG data, not only eases current daily operations for investment managers, it also puts them in the best position to thrive under evolving ESG requirements and regulations such as the EU’s Sustainable Finance Disclosure Regulation (SFDR).
‘GoldenSource ESG Impact’ is uniquely positioned to handle interlinked reference data, as well as fundamental and ESG data, helping to solve the complexities of ESG-related portfolio management and reporting with granular content depth and data governance in a single application. This application can also complement FactSet’s comprehensive symbology offering, which links data sets such as Company Fundamentals and ESG, saving clients time and resources. For example, if a portfolio manager needs to replace an investee in their portfolio because its ESG scores are too low, they can now easily identify another company that has appropriate ESG metrics AND the underlying financial fundamentals that justify an investment. Previously, this match-making process was a significant challenge.
Todd Hartmann, Senior Director, Product Management, at FactSet, said: “We are very pleased to be working with GoldenSource to expand access to our data. GoldenSource’s presence on the Open:FactSet Marketplace also gives investment professionals the opportunity to take advantage of a centralized data tool for a whole portfolio view when undertaking ESG data analytics and reporting.”
Volker Lainer, Head of Connections & Regulatory Affairs at GoldenSource, said: “Integrating FactSet data with the proven investment management and data quality workflows in GoldenSource will further advance the operational and ESG efficiencies that firms are seeking in order to take advantage of market opportunities and rise to the demands for discipline in sustainable investing. We look forward to accelerating our shared clients on their journey towards excellence in data ROI.”
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- 04:00 am
EML is thrilled to support CoinJar's U.K. launch and future expansion plans.
EML Payments (ASX: EML) (S&P/ASX 200) is excited to power CoinJar's new CoinJar Card with Mastercard. The fully-featured debit card allows customers to make purchases by instantly converting cryptocurrencies into fiat currency, everywhere Mastercard is accepted. CoinJar partnered with EML to provide customers with seamless and lightning-fast transactions, no matter where in the world CoinJar Card is used.
CoinJar Card represents a defining moment for the U.K.'s crypto space with a GBP-native, cryptocurrency-to-fiat Mastercard that can be activated and used in seconds, all from within CoinJar's app. Available as a digital and physical card with Google Pay integration, CoinJar Card works with close to 50 cryptocurrencies. There are no ongoing fees, and a low 1% conversion rate is returned to customers through an in-house rewards programme.
''CoinJar Card is the next step in our mission to make crypto both accessible and useful, to everyone, every day,'' said Asher Tan, CEO at CoinJar.
''With EML's technological expertise and Mastercard's universal acceptance, CoinJar Card gives CoinJar's customers true day-to-day crypto functionality, whether through smartphones, wearables, digital or eye-catching physical cards,'' noted Lorraine Buhagiar, U.K. Managing Director at EML.
CoinJar has already helped users conduct billions of dollars worth of transactions in Bitcoin, Ethereum and other cryptocurrencies with over 500,000 customers in the U.K. and Australia. CoinJar Card gives users a simple, secure and seamless way to bring crypto into the real world, one purchase at a time.
Building on CoinJar's much-hyped sponsorship of Premier League newcomers Brentford F.C., CoinJar Card is a further statement of intent from one of the U.K.'s most exciting crypto exchanges.
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- 06:00 am
The Bank of Non-Core Assets Trust (BNA Trust), which manages the non-core and distressed assets of major banks that were financially rehabilitated by the Russian Central Bank between 2017 and 2018, is on track to meet its asset recovery target two years earlier than planned.
By the end of 2021, BNA Trust had already executed 99.4% of its strategic plan to recover RUB 482 billion, which includes RUB 308 billion recovered between 2019 and 2021 and the bank’s fair asset value at RUB 171 billion. The Bank’s strategic recovery plan is outlined through 2023.
In 2021 alone, BNA Trust’s asset recovery totalled RUB 110 billion, which represented 126% of its target for that year. The majority of this amount was raised through pre-trial settlements and asset sales.
BNA Trust manages companies and assets in construction, oil extraction, engineering, agriculture, real estate and other sectors. It demonstrates some of the best results among its peers, according to calculations by PwC and BNA Trust, with a recovery to market value ratio of 132%. The largest company under BNA Trust’s management is the Russian property developer Inteco, whose revenues totalled RUB 58.6 billion in 2021.
“During the span of three years, we have proven our credibility by showing strong results that exceeded those of similar institutions abroad. Almost 90% of all returns came from settlement and asset management, and only 10% from judicial recovery. This clearly demonstrates the professionalism of our entire team and the effectiveness of our chosen business strategy,” commented Alexander Sokolov, Chairman of BNA Trust’s Management Board.
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- 09:00 am
GTreasury, a treasury and risk management platform provider, today announced the launch of the GTreasury Innovation Lab. Expanding and formalizing the culture of technology innovation that GTreasury has always supported within the company, the Innovation Lab is structured to bring significant and differentiated impact to customers through brand new advances in treasury management.
The technology team at GTreasury continuously recognizes potential opportunities for treasury innovation. The company has traditionally held twice-annual hackathons to explore unique and creative ways to advance treasury technology and integrations. Now with the launch of the GTreasury Innovation Lab, each member of GTreasury’s technology team will have a dedicated cycle within the lab, gaining a purpose-built and regular outlet for putting ideas to the test. GTreasury developers also constantly absorb feedback from the customer support team, which gives them insight into the specific challenges that treasurers face. Those insights inform developers’ innovative approaches to increase the capabilities, usability, and overall efficiency of the solutions within the GTreasury platform, both for customers and GTreasury’s internal team that supports them.
“GTreasury has always been forward-looking with the technology and integration capabilities that can enable treasury and finance teams to do more and do it more efficiently,” said Ciarán O'Neill, Director – Innovation Lab, GTreasury. “We keep one eye on where customers are right now and one eye on where they want to be. Our focus is on making sure that we’re always leveraging the latest technologies and offering future-proof solutions – it’s that philosophy that has led to pioneering creations like SmartPredictions™, our AI-fueled cash forecasting tool. The launch of the GTreasury Innovation Lab accelerates our pursuit of the innovations that it takes to develop and deliver powerful and compelling technological advances to our customers, and we’re excited to get going.”
Technologies born in the GTreasury Innovation Lab will progress through a systemic process designed to ensure the viability of a new solution. Developers at the lab first nurture initial ideas into working proof of concepts. Lab members then vote to select the solutions with the most potential to provide demonstrable day-to-day value for treasury teams. Solutions next enter a validation phase, where ideas are presented to internal stakeholders and customer representatives, including early adopters of a beta product. Validated solutions then move to a production development team to be fully built and integrated as stable enterprise-grade components of the GTreasury platform.
The GTreasury Innovation Lab already has a slate of high-potential solutions in ideation, including many in areas where the introduction of AI/ML capabilities offers tremendous potential. Initial areas for exploration include advances around BI reporting, risk analysis modules, and a reconcilement module offering more automated and accurate reconcilement between forecasted and actual treasury payments.
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- 08:00 am
● Included VC is a 9 month Fellowship that enables individuals from backgrounds that are underrepresented in VC to access a comprehensive curriculum, a network of mentors, and opportunities to find investment roles within the industry.
● Fellows from previous Included VC cohorts, who were actively looking for roles in VC, are now in VC investment roles at firms including Octopus Ventures, Atomico, M12, KAYA VC and Founders Factory.
● Today, Included VC announces its third Fellowship cohort, including 75 fellows from 40 countries around the world; 51% of whom are female, 24% Black, 28% Asian, and 20% are from the LGBTQIA+ community.
● Included VC is supported by a consortium of 13 VC partners, including new member HV Capital, and long-term supporters Notion Capital, Mangrove Capital Partners, Creandum, M12 - Microsoft’s Venture Fund, Seedcamp, EIF, WSGR, K Fund, Daphni, KAYA VC, HSBC Ventures, and Mouro Capital.
● Included VC also announces ‘Included VC X’, a summit run with key community partners such as Black Valley, The LMF Network and W Lounge to extend on Included VC’s mission to create credible pathways for people from diverse backgrounds to enter the VC industry.
Included VC -- a nine month, fully-funded global venture capital Fellowship that enables individuals from backgrounds that are underrepresented in VC to find investment roles in the industry -- has launched its third Fellowship.
The latest cohort includes 75 fellows from 40 countries around the world, who range from 21 to 42 in age; 51% of whom self-identify as female, 24% Black, 28% Asian, 9% have a disability, and 20% are from the LGBTQIA+ community.
The 13 funds taking part include the established participants, newcomer HV Capital, as well as renewed support from the European Investment Fund (EIF), which took part in the inaugural Fellowship two years ago.
Diversity across VC is currently limited. Only 4.9% of VC partners in the U.S. are female, of whom the majority are still white; 0.2% are LatAm women; and 0.2% are Black women[1]. Yet VCs recognise the potential of diverse teams -- 88% of VCs view the lived experiences of underrepresented entrepreneurs as a competitive advantage in identifying problems to be solved and markets to be addressed[2].
Investment results back this up. A diverse team is more likely to invest in founders who look like them, and startups founded and co-founded by women are significantly better financial investments. For every dollar of funding, these startups generated 78 cents, while male-founded startups generated less than half that—just 31 cents[3].
The international consortium of Venture Capital partners and sponsors funding the programme include: Notion Capital, Mangrove Capital Partners, Creandum, M12 - Microsoft’s Venture Fund, Seedcamp, European Investment Fund (EIF), WSGR, K Fund, Daphni, KAYA VC, HSBC Ventures, HV Capital and Mouro Capital.
The Included VC Fellowship comprises nine modules covering key VC topics. Teaching is delivered via masterclasses, mentoring, deep foundational learning, and investment committee simulations. Fellows are also invited to retreats, to support professional networking.
Fellows benefit from unparalleled access to some of the world’s top investors from the partner funds. Experienced investors, including partners at the participating VC funds, lead the classes, provide mentorship, and coaching.
Members of Included VC’s Fellowship are entrepreneurial, passionate about technology, and fascinated by the potential for venture capital to drive change on a massive scale. The fellows demonstrate the broadest definition of diversity: gender, ethnicity, non-typical degrees, intergenerational diversity, disability, neural diversity, and applicants from excluded communities such as refugees and ex-inmates. Previous Fellows have moved on to work in investment roles in the VC industry, as startup founders, or in startup roles. Previous Fellow, Ana Wolsztajn, is now an Investor & CMO at KAYA VC.
Nikita Thakrar, Co-founder & CEO of Included VC, says, “Thanks to the support of our 13 global funds, the Included VC Fellowship III will develop and launch the careers of 75 diverse and talented future investors from around the world. Fellows will learn from the best and take part in extensive training - workshops, simulation investment committees, and top-end mentoring, all supported by 50+ investors and an expert team. We hope Fellows deploy their learnings to create long-term positive change; for both the global VC ecosystem and their communities”
Alain Godard, Chief Executive of the European Investment Fund (EIF) says, “We are pleased to be sponsoring Included VC, and to support the third Fellowship programme, which will enable people from backgrounds underrepresented in the Venture Capital arena to find work in this space. A diverse and inclusive Venture Capital ecosystem in Europe is crucial, as we strive to enhance performance and inspire innovative solutions. The sustainable growth of the EU economy can only be achieved by taking an inclusive approach to financing.”
Stephen Millard, Operating Partner of Notion Capital and Co-Founder, Included VC says, “We are thrilled to welcome our largest and most global cohort to date: 75 exceptional fellows representing 41 nationalities, benefiting from an unrivaled curriculum and VC network and the opportunity to launch their careers in venture.”
Chris Tottman, General Partner of Notion Capital and Co-Founder, Included VC says, "Included VC’s 2022 cohort of 75 outstanding Fellows is our largest and most diverse cohort to date. We are confident that they will be just as successful as our recent alumni; 79% of those who were actively looking for VC roles, secured investment roles at top funds such as Atomico, M12, Founders Factory, Octopus Ventures, to name but a few, within months of graduating from Included VC."
Ana Wolsztajn, Investor & CMO at KAYA VC, and former Included VC Fellow, says, “I can definitely say that Included VC turned my life upside down in the best possible way. Being selected from around 1.5K applicants to be mentored and to learn from founding partners and seasoned investors at leading VC firms proved priceless. Not to mention the camaraderie of other fellows - the inspiration and community support made my career transition not only possible, but also super exciting.
Venture capital is an interesting industry, on one side it's a numbers game and the fellowship helped me into my investor's journey by filling in the gaps in my financial education. But at the same time Included VC allowed me to shine by utilizing my strengths, as being a people person and a storyteller plays an important role in VC, where EQ is often as crucial as IQ.
Would I be where I am now, without Included? I don't think so. Thanks to the fellowship I am part of an amazing team at KAYA that I get to both invest along with and mentor new cohorts together as we continue to support Included.”
Manuel Silva Martinez, General Partner of Mouro Capital says “After 3 years in operation, the change Included VC has brought to the ecosystem is remarkable. Some of the Included fellows are already contributing actively, with their unique POV, at some of Europe's finest funds - and Included VC Fellows hailing from 41 nationalities this year shows how much the world needs this initiative, and how mature it has become. We have a long way to go to fully embrace diversity in the VC industry, but as a backer of Included VC since Day 1, we could never dream of what this amazing group of people has brought to life.”
Natasha Lytton, Head of Brand, Network and Portfolio, at Seedcamp, says "We’re proud to have supported Included VC from its inception and are impressed by the impact to date and growth now going into the third year of the programme. Included VC shares our belief that exceptional talent can come from anywhere and we are excited to see what the fellows from this year’s programme will go on to achieve and have high hopes they'll continue the trend of securing great roles across venture; a much-needed step in helping to diversify our industry."
Martin Weber, General Partner at HV Capital says, “As we continue to grow as an industry, we will need to become more diverse when it comes to giving people access to the few, sought-after, career opportunities in VC. This allows us to attract and retain the best talent on the market and invest in their potential for the long term. That's why almost two years ago, HV Capital revised its hiring processes for investment talent, to widen our talent pool to a new and diverse generation. And today, we are especially proud to announce our membership with Included VC, to do our part in consciously pushing forward diversity in VC. We are only at the beginning of this journey and look forward to what we will do together to create a more inclusive and well-positioned industry for the future.”
Nikolas Krawinkel, Partner of Mangrove Capital Partners says, “As founding partners, we have seen how Included VC's unique venture capital “MBA” has already helped numerous previous fellows from diverse backgrounds break into VC, globally. We now know that Included VC works and this is only the beginning. We fundamentally believe that the European VC ecosystem must continue to evolve and promote inclusion. We are proud to support this great initiative again and can’t wait to meet the new fellows!”
Jaime Novoa, Principal at K Fund says, “We've been involved with Included VC since the very beginning and it's honestly one of the best programs we've been part of since we founded K Fund almost six years ago. All market participants are aware that diversity in both the entrepreneurship and VC industries is an issue, and we're always looking forward to a new edition of Included VC in order to help shape the future of our sector."
Pierre-Yves Meerschman, Partner and Co-founder of daphni says, “We are proud supporters of Included VC as we share common values: that diversity is wealth and that the VC industry should not be an exception. This Fellowship brings together ambitious individuals from diverse communities in the VC ecosystem, improving the society we’re living in. At daphni, we strongly believe that Included VC is all about a better future, making the Fellows’ voices matter."
Matthew Goldstein, Managing Director at 'M12- Microsoft's Venture Fund says, “This year we are not only proud sponsors of Included VC but we have welcomed two Included VC alumni to our investment team. The pipeline of diverse talent Included VC is channeling to our industry is a testament to the authenticity of the Fellowship’s mission - to radically diversify the VC industry. Now in its third year, Included VC Fellows are propagating seeds of change at every fund that they are a part of.”
Ore Adeyemi, Head of Strategic Innovation Investments at HSBC says, “It has been a privilege to be part of the Included VC Fellowship for the second year in a row. We are very excited to keep working with 75 new fellows and we are committed to creating a more accessible path to the Venture Capital industry for underrepresented groups. Our partnership with Included VC is an important part of this journey.”
Please find quotes from Included VC Fellows below:
Munashe Demawatema, Venture Fellow at M12, and previous Included VC Fellow says, “When I just started the process of applying to Included VC, I had just moved to Munich to start my venture capital internship at VC fund of funds, Blue Future Partners, and I was attempting to break into a conventional VC firm. Included VC provided me with the technical skills, network, and industry knowledge that enabled me to secure an internship at Microsoft’s Venture Fund – M12. At M12, I have had the opportunity to apply and expand that skillset learned on the Fellowship whilst working on various deals under the tutelage of M12 Partner Matt Goldstein, which has been an enriching and career-defining experience. The value the Included VC fellowship has provided to me in such a brief period of time has simply been unprecedented and immeasurable.”
Natalie Otwoma, a technology consultant at Capgemini, and a new Included VC Fellow says, “I want to break into the VC industry to be able to invest, support and work with early-stage businesses that are reshaping entire industries but with a particular focus on underrepresented entrepreneurs (those who aren’t typically represented in your typical VC portfolio) as well as Gen-Z founders as they may not have had the advantages that are needed to successfully navigate the VC fundraising process. I can’t wait to witness more women and black founders reach unicorn status who will in turn create generational wealth within the populous.”
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- 06:00 am
Muhammad Aurangzeb, President & CEO – HBL (sitting on left) and Andreas Andreades, Executive Chairman – Temenos (sitting on right) signing the agreement. Senior Members from both the organizations were also present at the occasion.
Temenos, the banking software company, today announces that HBL, Pakistan’s largest bank network is to adopt the Temenos core banking platform to provide domestic and international operations with a cutting-edge banking experience.
HBL will onboard over 25 million of the Bank’s clients onto Temenos open platform for composable banking[1]. The platform will accelerate the Bank’s services across all segments, markets, and channels. HBL clients will have an enhanced user experience in the form of increased reliability, security and a modern platform that will enhance HBL’s digitalization journey.
The Temenos implementation will include a full suite of client-friendly products and services that will provide end-to-end, technologically advanced solutions to both HBL’s conventional and Islamic banking clients. Faster onboarding and quicker transaction processing will provide a more seamless client experience, enabling HBL to increase its digital footprint across Pakistan and internationally. The new system will also enhance adherence to local banking regulations and improve reporting standards for international markets in China, GCC, Europe and SAARC countries[2].
Muhammad Aurangzeb, President & CEO - HBL, said: “The open technology platform provided by Temenos is flexible, global-ready and has the breadth of banking services to meet our clients’ fast-developing banking needs. This partnership contributes to our goal to become a ‘Technology company with a banking license’.”
Sagheer Mufti, Chief Operating Officer - HBL, added: “At HBL, we are always looking at better ways to serve our clients. By adopting this leading platform, we will add to our capability to give clients an improved experience when using our services, now and for many years to come.”
Max Chuard, Chief Executive Officer, Temenos, commented: “HBL is a forward-looking bank with a pioneering approach to shaping the future of banking. Temenos open platform for composable banking will free the bank from legacy constraints. To innovate safely at speed, as well as scale its offering and achieve its growth goals. We are proud to support HBL as it delivers on this exciting vision for more than 25 million clients worldwide.”
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- 02:00 am
1Spatial (SPA) announced a three-year contract worth c $0.8m with the State of Montana for its Next Generation 911 solution. The Montana contract, along with recent large contract wins, the accelerating pace of new business, the transition to a higher-margin SaaS business, increased collaboration among data users and success with the 'Land and Expand' strategy should support a c 6% CAGR through FY23 and improved margins. We remain encouraged by the long-term potential of the geospatial industry and see scope for further acceleration. While it does trade at a sizable discount to its software peers in terms of price/revenue and EV/EBITDA multiples, we see opportunities for the gap to be reduced, and now is the time for SPA to capitalise on them.
1Spatial trades at 12.4x FY22e EV/EBITDA, a significant discount to its software peers, and using a peer multiple of 27.7x implies a share price of 99p, about 117% above the current price. While much of the discount reflects SPA's current lower growth and margins, if the pace of contract wins is maintained and 1Spatial continues to execute on its land and expand strategy, we anticipate there could be a reduction in this valuation gap.
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