Crunchfish Digital Cash and SaaS Expand target mobile operators in Africa
Crunchfish’s sales efforts have mainly been aimed towards India and the CBDC community. In Africa, mobile payments have become an integral part of the economy, but the lack of sufficient infrastructure and internet connectivity is a limiting factor. With offline payment support, the power of mobile payments in Africa can reach its full potential. A partnership has been entered with SaaS Expand to develop opportunities that this brings for Crunchfish Digital Cash.
Mobile payments have become an integral part of the African economy, with many businesses and individuals relying on it for day-to-day transactions. Mainly provided by mobile operators and supported by a network of licensed agents, mobile money services allow registered users to deposit cash into a digital wallet, and use those funds for payments and purchases, including peer-to-peer (P2P) payments. However, the lack of sufficient infrastructure and internet connectivity limits the potential and the use of these payment services. With Digital Cash and offline payment support, the power of mobile payments in Africa can reach its full potential.
To develop opportunities in Africa a partnership agreement has been entered with SaaS Expand. The founders of SaaS Expand Agency bring long experience from dealing with mobile operators in Africa. The company is set up to act as an agent for Crunchfish. Initial focus will be on the large mobile operators in Africa. Already a first NDA has been entered with a major operator group that are present across Africa. The partnership between Crunchfish and SaaS Expand also covers the rights for SaaS Expand to act as an agent in South America. Opportunities in South America will be explored in a later phase, as Africa is the initial focus.
"At SaaS Expand, our mission is fueled by the transformative potential of technology in connecting cultures and enhancing personal safety and wellbeing. The integration of offline payments through Crunchfish Digital Cash is set to revolutionize financial accessibility in Africa and South America. This innovation promises to bring secure, inclusive financial services to even the most remote areas, significantly impacting the daily lives and empowerment of millions”, says Frederik Weisz, SaaS Expand’s Managing Director.
“Our extensive experience in these regions, ensures we have the insights and connections essential for the success of Digital Cash. We are enthusiastic about working together with Crunchfish. This collaboration isn’t just about technological advancement; it's about creating a more interconnected, financially inclusive world”, says Mark Philip Hellenberg, SaaS Expand's Executive Director.
“The founders of SaaS Expand bring a long history of doing business with mobile operators in Africa. Through their network we will get access to customers we haven’t been able to process before. We know that Crunchfish Digital Cash is highly relevant in the region, as lack of sufficient infrastructure and internet connectivity is common. All this adds up to a foundation for successful business together", says Joachim Samuelsson, Crunchfish’s CEO.
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 above for publication on 12th February 2024 at 08:30 CET.
Västra Hamnen Corporate Finance AB is the Certified Adviser. Email: ca@vhcorp.se. Telephone +46 40 200 250.
About SaaS Expand Agency – saasexpand.com
SaaS Expand Agency is a pioneering force in the global SaaS industry, specializing in bridging the gap between European SaaS innovations and emerging markets across Latin America, Africa, and the Middle East. With over 20 years of local market experience, our mission is to revolutionize the way technology enhances personal and community wellbeing in these regions. Headquartered in Copenhagen, Denmark, SaaS Expand Agency leverages its extensive network and deep market insights to facilitate the adoption of cutting-edge European software solutions, driving progress and connectivity in some of the world's most dynamic economies.
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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