PIL Undervalued vs Peers, page-23

Here's another quick chart for you all....

It shows the registered agent numbers since the inception of the agency network in August 2018. Notably, the pace of enlistments greatly accelerated under covid with the highest rate of >15000 registrations in November and December 2020.

These agents operate like this...

1) Receive cash from the customer/bill payer
2) Immediately transfer funds from their own Bizmoto wallet to the telco, electricity company etc
3) Bank the cash into their own Bizmoto wallet

That requires them having a float of funds in their own Bizmoto wallet to cover the time until the funds are banked. The greater the float that an agent has the more customer bill payments they can process before having to go to the bank. Many of them have not been able to raise a float and, consequently, have been rather inactive. BizmoPay changes all of that as they can now borrow the funds for the float (that they cannot be sent on anything else) and start doing business.

Revenues from the 51,000 Bizmoto agents is going to BOOM very soon.