Novatti Group Lists on ASX
January 15th, 2016
The Novatti Group (ASX:NOV) is pleased to announce that the Initial Public Offering (IPO) has been oversubscribed. Novatti is to be admitted to the official list of ASX Limited and quotation of its securities is expected to commence trading at 10.00am AEDT on January 18, 2015. AU$7 Million has been raised in the IPO to facilitate the growth of the business.
“The IPO will enable the Novatti Group to utilise the strength of the Novatti Platform. This means we can take advantage of the changes occurring in digital payments with the widespread adoption of mobile and cloud-based services”, said Novatti Group CEO Peter Cook.
Novatti provides SaaS and solutions for high capacity transaction processing, switching and stored value account management systems that can be integrated into a broad range of external systems. Its success lies in the strength of the Novatti Platform and its commitment to delivering innovative payment solutions.
Primarily, Novatti enables millions of mobile users and merchants across the world to interact and exchange via mobile money and intelligent solutions. Its philosophy of continuous improvement makes Novatti a market leader in the alternate payment industry. Novatti’s solutions are particularly relevant to emerging economies and have provided people around the world with access to basic financial services, many of which have never owned a bank account or credit card.
As a FinTech startup, the Group is well positioned to take advantage of the continuous growth in mobile-based networks and the need for access to financial services in an increasingly digitized world. According to the World Bank, there are still over 2 billion adults in the world without a bank account. These unbanked present an opportunity for Novatti to connect millions more by providing means of trade.
Furthermore, the Group’s TransferBridge business unit is poised to provide services to the fast growing network of global remitters. With the number of displaced people higher than ever, the need for global remittance services is of increasing importance as family members send money to each other worldwide.
The trend of economies becoming digitized also significantly strengthens the Group’s position in the FinTech market, as retailers and governments alike look to enhance their financial capabilities when collecting or disbursing funds. With clients such as Telstra domestically and Hutchison and MTN internationally, the Group is experienced in providing quality SaaS and solutions and carries a mantra of quality and innovation worldwide.
Internationally, Novatti’s experience operating within emerging economies provides the company with the tools necessary to satisfy the growing appetite for financial services in areas with traditionally low banking penetration. Where mobile networks are helping money move around the globe, Novatti’s award-winning solutions are there to enable this service.