Rewardle, page-4

I'm planning to sign up for an allocation, there are things to be said for both the long/short sides but I'm pretty positive.

I baulked at the FLN float price based on their earnings multiple and didn't sign up for their IPO (big mistake, went up something like 200% did it not?).

I agree that it seems expensive but their growth is turning parabolic while their actual costs are lower, and if they can actually get traction with a payment service through the app (which looking at both the management team, penetration specifically in regards to merchants and shift to cashless) they could easily become the 'in real life' paypal provider where consumers put a pile of change and spend it here and there.

Not to mention the fact they have no even tried to sell their data yet, considering the value of frequent flyers or high prices paid for equity in firms like Quantium that is a huge potential income source - its an even bigger income source if they can actually deliver an analytics service themselves.

The company is an easy acquisition target for US companies that play in this area (who have received high valuations in their own equity rounds) combined with the fact that the founder has successfully negotiated these types of sales before - If they dont raise the full $4M its a terrible sign but if they do (or even better, oversubscribed) its a sign of huge strength and institutional interest.

The more I write, the more convinced I am this is a good buy.

The real risk is in their growth numbers falling flat, but the network effect seems to be kicking in and their product is a strong fit for the market.