Why the fintech space is such an exciting one to be in

Despite a tough year, Capital Appreciation delivered a creditable set of results. Once again it brought home to me, and the board, that the fintech space is an exciting industry. Despite the impact of Covid, the business attracted new customers both locally and abroad.

We also gained strong traction in the roll-out of our Android platforms and the year saw us launch new products. These included Halo, and the retail mall app, SHoPING with a strong new product pipeline for the year ahead. As part of its growth pipeline, Capital Appreciation acquired a 26.5% stake in start-up LayUp Technologies, which is Africa’s first fully digital Lay-By and recurring payments business with digitised payment plan solutions for retailers.  We’ve been pleased by the recovery in activity since the beginning of the 2021 calendar year.

Highlights of the past year

One of a number of highlights for our Group during the year was the success of Halo, an innovative Synthesis product, described as “tap-to-phone”. This contactless payment solution has been certified by Mastercard, Visa and American Express.  It has also been certified for “pin-on-glass” for higher value transactions.  What is really exciting, is a major South African bank has used Halo for the past year, and we are in negotiations with others. It doesn’t stop there – our sights are set on distributing it to the rest of Africa, Asia Pacific, and Central and Western Europe.  We are looking forward to this product really taking off in these countries and making an impact.

Our Payments division is the first supplier in South Africa to deploy certified Android terminals as part of a broader integrated service.  Dashpay made significant strides in laying the foundation for further innovation, such as e-commerce platforms and multi-lane retail solutions.

What is in store for the coming year

In anticipation of economic recovery post-Covid, we will continue to invest in additional capacity, talent, and resources and in the development of new innovative product offerings.  

Also on the horizon, is a new office for Synthesis in the Netherlands later this year.  The strategy to target new customer verticals of retail, telecoms and healthcare should continue to gain traction and the company has grown its Mauritian market and is exploring opportunities in Asia Pacific too.

We are cautiously optimistic about the year ahead but understand that the realisation of opportunities will remain subject to conducive macro and micro economic environments.

For the results press release see:

https://capitalappreciation.co.za/new/content/1624308149-cta-creditable-results.pdf