Crunchfish have signed a Letter of Intent to acquire a payment platform company based out of India. The acquisition will increase the company’s presence in India and expand the product- and patent portfolio. The aim is to close the intended acquisition in Q2 2023.

Figure: The intended acquisition will extend Crunchfish Digital Cash product portfolio as illustrated above.

To establish an operation in India is important for Crunchfish to be present where most real-time transactions are processed in the world. Crunchfish have today signed a Letter of Intent to acquire a payment platform company based out of India. A due diligence process will start immediately having the Crunchfish management team in India this week. Once the transaction is closed, the intended acquisition will increase the company’s presence in India and expand its product- and patent portfolio.

The potential acquisition will not impact the relations with existing payment platform partners. Digital Cash integrations into their solutions are key as Digital Cash will be distributed to their customers.

The acquisition is expected to be closed in Q2 2023 and financed by using existing cash in Crunchfish.
More details on the acquisition will be disclosed when the deal is closed.

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

This information is Crunchfish AB obliged to publish in accordance with the EU Market Abuse Regulation. The information was provided by the contact person above for publication on 1 March 2023 at 08:00 CET.

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 deep tech company developing a Digital Cash platform for Banks, Payment Services and CBDC implementations and Gesture Interaction technology for AR/VR and automotive industry. Crunchfish is listed on Nasdaq First North Growth Market since 2016, with headquarters in Malmö, Sweden and with a subsidiary in India.

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Crunchfish have undergone penetration testing of the Crunchfish Digital Cash SDK. The penetration test service was executed by Outpost24 with a focus to exploit potential vulnerabilities of the Digital Cash and to provide an understanding about the current level of security of the product.

As an integral part of the Software Development Lifecycle, Crunchfish focus on security aspects to prevent malicious attempts of fraud or double spending. Outpost24 offers cybersecurity services and were engaged to audit and attack the Crunchfish Digital Cash SDK to assess the product’s susceptibility to vulnerabilities.

The result of the security review has been summarized by Outpost24: “After extensive testing of the Crunchfish Digital Cash SDK it can be concluded that no high or medium risks have been found within the allocated time of testing. The implemented Trusted Application provides adequate security measures to prevent tampering of the different methods in use by the Digital Cash API.”

This penetration test complements previous tests by third parties that have been conducted. The latest test was done as part of the HDFC Bank pilot project in RBI’s Regulatory Sandbox. The Crunchfish Digital Cash SDK is available for customer download through the Crunchfish developer portal.

“We are continuously focusing on security and remediation of possible product vulnerabilities. Having an independent expert such as Outpost24 auditing the Digital Cash SDK is valuable and provides us with insights that will further enhance the product. As security is a moving target, we will continue our focus in this domain.”, says Rutger Petersson, R&D Director at Crunchfish Digital Cash.

For more information, please contact:

Joachim Samuelsson, CEO of Crunchfish AB

+46 708 46 47 88

joachim.samuelsson@crunchfish.com 

This information was provided by the contact person above for publication on 22 February 2023 at 13:00 CET.

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

About Crunchfish – crunchfish.com

Crunchfish are a deep tech company developing a Digital Cash platform for Banks, Payment Services and CBDC implementations and Gesture Interaction technology for AR/VR and automotive industry. Crunchfish is listed on Nasdaq First North Growth Market since 2016, with headquarters in Malmö, Sweden and with a subsidiary in India.

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Crunchfish AB (“Crunchfish”) Q4 webinar is now available, where Crunchfish CEO Joachim Samuelsson is interviewed by analyst Joen Sundmark from Västra Hamnen Corporate Finance. Accompanying the release of the company’s year-end report, Crunchfish are launching Crunchfish iQ, an interactive view of the year-end report.

The webinar about Crunchfish year-end report for Q4 2022 is now available via the following link:

Webinar Q4

Crunchfish year-end report for Q4 2022 is available via the following link:

Crunchfish Q4

Crunchfish iQ – Interactive Quarterly reports

Crunchfish iQ is an open Q&A channel about each Crunchfish-, Digital Cash-, and Gesture Interaction story in the report. Crunchfish iQ is published as a compliment to the year-end report and will be stored in the article section of Crunchfish LinkedIn channel.

For more information, please contact:

Joachim Samuelsson, CEO of Crunchfish AB

+46 708 46 47 88

joachim.samuelsson@crunchfish.com 

This information was provided by the contact person above for publication on 17 February 2023 at 09:00 CET.

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

About Crunchfish – crunchfish.com

Crunchfish are a deep tech company developing a Digital Cash platform for Banks, Payment Services and CBDC implementations and Gesture Interaction technology for AR/VR and automotive industry. Crunchfish are listed on Nasdaq First North Growth Market since 2016, with headquarters in Malmö, Sweden and with a subsidiary in India.

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Crunchfish is pleased to publish the company’s year-end report for 2022. CEO Joachim Samuelsson comments that the company is in better shape than ever. Crunchfish are also launching a complimentary report format – Crunchfish iQ – an interactive view of the year-end report. A webinar with an interview of Crunchfish CEO will be live streamed at 09.00 CET / 13.30 IST today.

The report is available as an attached document to this press release as well as through the company’s website.

Comment from CEO Joachim Samuelsson

“Crunchfish destiny is to make any form of digital payments service robust, private, and inclusive. No other company in the world is anywhere near having the technology that can deliver on this promise. What the internet is for digital communications, Crunchfish will be for payments. Crunchfish are in better shape than ever. Our destination is outer space. Welcome onboard, doors are closing.”

At 09.00 CET/13.30 IST, a live webinar about the report will be hosted on Zoom where Crunchfish CEO Joachim Samuelsson will be interviewed by analyst Joen Sundmark from Västra Hamnen Corporate Finance.

Please register using this link.

A recording of this webinar will also be available afterwards on Crunchfish’s website as well as  Västra Hamnen Corporate Finance’s website.

Crunchfish iQ – Interactive Quarterly reports

Crunchfish iQ is an open Q&A channel about each Crunchfish-, Digital Cash-, and Gesture Interaction story in the report. Crunchfish iQ is published as a compliment to the year-end report and will be stored in the article section of Crunchfish LinkedIn channel.

For more information, please contact:

Joachim Samuelsson, CEO of Crunchfish AB

+46 708 46 47 88

joachim.samuelsson@crunchfish.com 

This information is information that Crunchfish AB is obliged to publish in accordance with the EU Market Abuse Regulation. The information was provided by the contact person above for publication on 16 February 2023 at 08:30 CET.

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

About Crunchfish – crunchfish.com

Crunchfish are a deep tech company developing a Digital Cash platform for Banks, Payment Services and CBDC implementations and Gesture Interaction technology for AR/VR and automotive industry. Crunchfish are listed on Nasdaq First North Growth Market since 2016, with headquarters in Malmö, Sweden and with a subsidiary in India.

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Digital payments are not as robust as required given their critical role as public or commercial goods in a modern society. The same holds true for digital applications in general. As they are typically implemented using client server network model, the digital service is only available if the user gets online network access over the internet. In the same way as Crunchfish Digital Cash provides robustness for digital payments services, Crunchfish enable now this approach for digital applications in other verticals. Adding an application agnostic Trusted Application Protocol layer to digital applications has a profound impact on the client server communication as it provides trusted -applications, -identities and -execution environments communicating with secure end-to-end messages over all types of networks, e.g. TCP/IP, VPN, telecom or using a LAN or a proximity bearer.

“This innovation is arguably the most important improvement in digital communication since the internet was introduced in the 90s and Crunchfish most important innovation to date. Whereas the internet provides survivability in the face of failures between networks, TAP provides robustness between the digital application of the client and the server as well as fully offline between peers”, says Joachim Samuelsson Crunchfish CEO.   

Crunchfish have a patent pending for this protocol extension that applies to any form of digital application. The business model is subscription-based Trust-as-a-service model. In addition to supporting client server network architectures, the patent pending TAP also supports peer-to-peer communication.

TAP is arguably the most important improvement in digital communications since the internet was introduced in the 90s. Whereas the internet TCP/IP protocol made digital communications more robust, it is of little use if the application cannot get online access. TAP provides robustness as well as trust to digital applications by providing alternative routes to the remote server. For what is the use of a robust internet if a user that cannot get online access to the digital service?

In addition to making digital payments applications robust, having a trusted client is very useful for any digital application that require login, executing a single command or enabling automatic login without a passphrase to a remote server. This could for instance be used by electronic identification applications. Any application becomes more robust by the Trusted Application as it is possible to use alternative routes than the internet to connect to the remote server with end-to-end integrity. Even in circumstances where the internet is available, TAP adds additional integrity for the application data and ties the user directly to the secure client, which is beneficial for invoicing in subscription-based applications. TAP may also be used for having a trusted identity on social media platform to improve accountability for what is posted online.

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

This information is Crunchfish AB obliged to publish in accordance with the EU Market Abuse Regulation. The information was provided by the contact person above for publication 14 February 2023 at 00:01 CET.

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

About Crunchfish – crunchfish.com
Crunchfish are a deep tech company developing a Digital Cash platform for Banks, Payment Services and CBDC implementations and Gesture Interaction technology for AR/VR and automotive industry. Crunchfish are listed on Nasdaq First North Growth Market since 2016, with headquarters in Malmö, Sweden and with a subsidiary in India.

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On Thursday, February 16 at 08.30 CET / 13.00 IST, Crunchfish publish its year-end report for 2022. At 09.00 CET / 13.30 IST, a webinar about the report will be hosted on Zoom where Crunchfish CEO Joachim Samuelsson will be interviewed. Crunchfish are also launching a complimentary report format – Crunchfish iQ – an interactive view of the year-end report.

Year-end report webinar
In the 2022 year-end report webinar Crunchfish CEO Joachim Samuelsson will be interviewed by Joen Sundmark, Equity Analyst at Västra Hamnen Corporate Finance. Please register using this link.

The audience may ask questions using the chat forum. A recording of the webinar will be made available afterward on Crunchfish’s as well as Västra Hamnen Corporate Finance’s websites.

Crunchfish iQ – Interactive Quarterly reports

Crunchfish keep creating new ways to get closer to its stakeholders. To make Crunchfish’s quarterly and annual reports more interactive, the company is launching Crunchfish iQ, an open Q&A channel about each Crunchfish-, Digital Cash-, and Gesture Interaction story in the reports. Crunchfish iQ will be published as a compliment to the quarterly and annual reports and will be stored in the article section of Crunchfish LinkedIn channel.

For more information, please contact:

Joachim Samuelsson, CEO of Crunchfish AB

+46 708 46 47 88

joachim.samuelsson@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 are a deep tech company developing a Digital Cash platform for Banks, Payment Services and CBDC implementations and Gesture Interaction technology for AR/VR, automotive and digital interfaces. Crunchfish is listed on Nasdaq First North Growth Market since 2016, with headquarters in Malmö, Sweden and with representation in India.

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