Expansion into agricultural vertical: Spenda and AgriChain have entered into a Binding Agreement to integrate
early payment services to grain growers onto the AgriChain platform.
Initial Spenda project NET revenue of up to $1.1m: Phase One of the program is expected to generate revenue of ~$1.5m per annum. Spenda and AgriChain will revenue share 75% : 25% respectively.
Scale up in Q1 2024: Upon successful completion of Phase One, Phase Two of the program is anticipated to scale up significantly in 2024.
Significant market opportunity: AgriChain has ~$2.2b in grain on their supply chain platform at any given point in time across 10,000 users and these transactions will run through Spenda’s payment platform over time.
Strong pipeline of activity: Spenda is well positioned to expand into livestock and horticultural markets under existing and new partnerships.
@Exmouth1987
Positive SPX, page-1524
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