New Ventures in Financial Services

Focus on Payments and Mobile

Monitise – Loss widens

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16 Feb 2010

http://www.guardian.co.uk/business/marketforceslive/2010/feb/16/2

MONI.L Global strategic alliances with Visa and over 1.75MM registered consumers in over 200 banks could not pull it out of a pre-tax loss of £6.67MM. Think of Monitise as a “Mobile ATM” kind of service.. much less dealing with payments and more about checking balances. MONI’s fee structure is a monthly  subscription (by the bank by customer/transaction) with a monthly minimum. My guess is that they are growing users.. but also suffering from bank’s efforts to delete “inactive” users.

Given Visa’s June 2009 $13MM investment, my bet is that Monitise will pull through with a new service and continue its growth as it evolves into new products.

https://finventures.wordpress.com/2009/11/13/vendor-review-monitise/

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Written by tomnoyes

February 16, 2010 at 8:50 pm

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