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TheArchitect

6,525 Posts.

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29/06/16

23:27

Post #: 18155678
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Originally posted by TheArchitect ↑

FinTech to watch CCA

Anyone been monitoring upcoming listing ChimpChange?

ASX Code: CCA
Shares on Offer: 18.75 million
Listing Price: 80c
Market Capitalisation: $50.8m
Listing Date: June 30

Signed up 80,000 Customers already, targetting the US market mainly, but will be looking to do deals in Australia, but the US is their bigger target.

Extract from fin review: http://www.copyright link/street-talk/chimpchange-banks-on-asx-listing-20151210-glkgyq

They're a US-based Aussie fintech founded in 2012 looking to take advantage of the outdated US banking system and recently raised $5.5 million from private investors after a trip around the Asia Pacific.

Expected to have a MC of $60m on relisting

Founded by LA resident 35-year-old Ash Shilkin – a former CFO of CO2 Group – it boasts ex-Westpac chief operating officer, Peter Clare, on its board and has circa 80,000 customers.
The company provides a way to transfer money instantly between accounts using mobile phone numbers and emails as identifiers and the MasterCard network. It takes the settlement risk along the way, and some of the card network's interchange fee – which would normally go to the banks.

Once it has more Australian investors (and sources noted there are some high-profile backers coming on board), ChimpChange is considering rolling its product out to Australian customers.
But the pitch is different here. It has been in talks with local banks to see if it can do a deal to act as a cool shopfront for them to Gen Y and millennials. In that case it would be offering loans and taking deposits.
Moelis and CCZ are joint lead managers.

Prospectus link: https://www.chimpchange.me/prospectus.pdf

http://www.crowdfundinsider.com/201...e-sets-date-for-15m-ipo-not-monkeying-around/

Expand

CCA starts trading tomorrow

Posted few days ago some info on it (in quote above), should make quite a splash on the market, pretty good fintech.

Raised $15m at $0.80c
MC of roughly $60m

barely any shares on offer with roughly 18m, could be quite a run, let's see how tomorrow goes on the listing, opens at 12pm trading.

DYOR
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