Corporate advisory and investment firm Shape Capital announced today that its Brisbane based client SQID Technologies
Limited successfully completed listing on the Canadian Securities Exchange "CSE" on January 21, 2020 under the symbol
CSE:SQID.
SQID is a payment processor enabling merchants to receive debit or credit card payments. For the fiscal year ended June
2019, SQID reported total transaction value of $163 million and revenues of $5,403,525 and profit before income tax of
$1,147,722 reflecting a 72% increase in revenues and 85% increase in its profit before income tax over the same period
for the fiscal year 2018.
A team of advisors handled the listing with Shape Capital acting as the Australian corporate advisor to the transaction
in collaboration with TriPoint Global Equities/BANQ(R) in NY and Australian based First Growth Funds Limited.
"Listing Australian companies on the CSE is cost effective and a more streamlined process compared to listing on the
ASX. The CSE provides Australian companies with a great launch pad into North America to gain market exposure, access to
new investors and help create shareholder value, said Anoosh Manzoori, CEO of Shape Capital."
SQID's technology provides merchant services and transaction processing to business merchants and ecommerce customers
across both 'Business to Business' (B2B) and 'Business to Consumer' (B2C) segments to bridge both retail and wholesale
transactions through its platform. Its technology is powerfully structured to allow layered access to payment and
merchant transaction data, and integrates these retail and wholesale layers (creating many separate customer nodes
within the network), providing split settlements between each layer. This provides a broad platform for commission
structures and transaction-based rewards that are settled at the same time as the underlying transaction is settled. The
business model is applicable to significant business channels including affiliate marketing, rewards programs,
franchises, marketplace apps, agencies, etc.
SQID has established itself as a relationship payment provider and payment facilitator in the Payment Processing
industry, which specialises in delivering ecommerce solutions to businesses that have their 'card-not-present'
commercial outcomes dependent on two or more businesses. This has delivered sizeable growth in revenue as the model is
based on engaging one referrer who then refers additional merchants. The Company has concentrated on building
relationships with merchants and providing incentives to merchants for referrals to new business opportunities. This has
resulted in substantial growth with minimal overhead and resources.
The SQID business has a proven business model of delivering sustained profitability over time. Revenue growth has been
achieved through strong growth from merchants in industries related to training and education.
For further information please visit the company's corporate website at www.sqidpay.com