RE: under the radar2 Jul 2020 16:22
peter
as I read finncap's note I cant help thinking this is a good entry point as the sp is at 5.1
Mastercard lends further support to HomeSend- any thoughts?
Mastercard has provided a large (€15m) loan facility to HomeSend to increase the size of its currency float. This is very encouraging, indicating both significant expected growth in the volume of transactions over the HS platform, and Mastercard’s continuing commitment to the business. HS uses the loans to hold currency in its various destination countries to enable swift payment of transactions. It has already received loans of €2.5m from Wameja and €4.5m from Mastercard, so clearly expects an increased scale of transactions on the platform – in line with expectations and the growth in KPIs seen to date. A commercial lender is being sought, but Mastercard itself has stepped in; clearly this demonstrates HS is an important element in its cross-border strategy and of growing value to the US payments giant, underlining the value of Wameja’s stake.