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SmartTrade App Ltd

SmartTrade App’s aim is to become the world's leading App for running a small business and taking customer payments on the move, through world class technology, national and global partnerships and happy merchants.

"Small business owners have been waiting years for a smart mobile payments app like SmartTrade App to become available.” Mark McMurtrie, Judge of UK Payment Awards, 2016

Follow STA Key Performance Indicators (KPI): Company Numbers and Forecast

SmartTrade App Ltd

United Kingdom

smarttradeapp.com

    • Introduction

      The future of running a dynamic small business.

      SmartTrade App is an award winning, UK payment provider based 100% on cloud software. The app allow SMEs to accept card payments using only their smartphones; either face to face, over the phone or via online invoicing. In addition they have CRM features, such as invoicing and receipts, job delegation and scheduling, quotes, excel downloads optimised for accounting, customer and job lists, and even job lead services for partners.

      It's a solution built for small, dynamic businesses where we seek to lower the amount of stress and things to think about, while at the same time increasing their business' flexibility and consequently increase revenues.

      A small business owner can run their entire business and take payments, all from this mobile app. There's also an accompanying online dashboard which goes deeper into admin features, such as the addition of members. Because they are software based, you can add a team of 5 in minutes, all with their own logins and level of access. You control who sees what, and in a heartbeat your entire team will be able to take payments on your behalf, in all the same ways as yourself.

      They are the only provider in the market who at the moment offers a payment solution with no need for hardware whatsoever, which makes them as much an Individual Software Provider (ISV) as it does a Payments Service Provider (PSP).

      Because of this level of flexibility they also have the opportunity to partner with companies domestically and internationally. SmartTrade can simply rebrand the  application for a large partner to offer and sell to their merchants, where they charge a license fee every month per active user.

      What Problem is SmartTrade Solving?

      SmartTrade relieves business owners from the reliability of needing hardware and excess machinery to be able to process payments from their customers. Rather than relying on antiquated Chip+PIN technology, needing expensive hardware which can break, be forgotten and lost, SmartTrade lets you process payments directly from your phone using our mobile app. In addition you have CRM capabilities, invoicing and team management through our mobile application and online dashboard to run your entire operation from one place; your smartphone.

      SmartTrade Trailer See it in Action!

      SmartTrade's Merchants:

      Launched in 2015 SmartTrade now has over 1,500+ delighted UK merchants from sole traders to small teams. SmartTrade App has to date 340+ different merchant services on their platform, such as Plumbers, Beauticians, Private Drivers, Software Developers, Fashion Designers, Property Maintenance, Driving Schools, Photographers, CoWorking Spaces, Freelancers, B&Bs and even a resort in the Philippines ran by a lovely woman from the UK. 

      SmartTrade App for Charities: 

      As SmartTrade continues to penetrate new industries and markets, proving to be far more applicable to SMEs outside of traditional trade profession than expected when the idea was born, they have found charities can benefit greatly from their mobile application. 

      If you are a charity, SmartTrade will set you up with the lowest rates and cost possible, which gives you the option to invite anyone you trust to accept donations on your behalf. All donations will be going to the account you've set up, so there is no chance of someone accepting a donation through the app and running off with the money, as is a risk if only accepting cash. Furthermore, volunteers can accept donations at any time, any place; when talking the dog for a walk, while out for a pint or even when traveling around the world. Lastly it decreases risk incurred by having to carry around cash after receiving donations.

      Click here to read a case study on a small charity in Havering working to house homeless people, who currently use SmartTrade App: Hope4Havering

      Some Highlights:

      As well as having its own showcase brand, SmartTrade is a globally scalable platform for partner apps. Europe's leading Job Lead provider Quotatis, owned by the worlds second largest home improvement group Adeos, chose SmartTrade for its technology and feature set to run its UK app and now has over 1100 paying UK active merchants. Quotatis SmartApp has been a huge success with over 2 million jobs served through the app. Most of SmartTrade Apps growth and revenue will come from partners, either reselling, co Branded or white labeled for partners.

      SmartTrade App has signed an MOU with the UKs second largest bank, Barclays Bank to implement PayByBank App (PBBA), a faster payments method, into SmartTrade and through that acquire 135,000 Barclaycard merchants within 3 years. 

      The distributor of PBBA is Wirecard, which SmartTrade signed an agreement with May, 2018. Vocalink (MasterCard company) are the brains behind PBBA. These three players; Barclays, Vocalink and Wirecard, will be working with SmartTrade to copromote and feature SmartTrade App and their merchants in anything from paid advertising campaigns, communications to millions of existing customers to TV advertisements Q4-18/Q1-19.

      SmartTrade App is approaching trial stages for a white labelled application with an even larger financial institution with development expected to commence Q4, 2018 following the completion of PBBA integration. the white label is expected to yield 125,000 new customers every year, with 500,000 customers in the first 3 years when including existing merchant base.

      SmartTrade App is in the final stages of signing with a digital bank providing 15,000 new businesses with banking services every year. These would all be introduced to SmartTrade as part of their onboarding.

      SmartTrade App created the Application Only Point of Sale product genre in 2015 and in 2018/19 will create a 'super APOS' category by adding Contactless ('Paiements sans contact') and PayByBank (faster bank to bank payments or 'Paiements plus rapides');

       

       

      Value Tracker
    • Management

       
       

      Board member

      Keld van Schreven | CEO, Co-Founder

      Co-Founder of Hard Reality Web Agency in 1995 and sold to Leo Burnett Global 2000 and clients included Disney, Kelloggs, Standard Charter Bank, Morgan Stanley. Spark Idea was the ‘disrupter’ arm of New Media Spark which was the most high profile Internet Incubator on the dotcom boom and included companies such as PriceRunner. Through Spark Ideas Keld help set up the Kobalt Music Group and was the third employee. Kobalt is now valued at $314 million at the last round of financing. Keld cofounder Diary.com, a leading blogging site in 2007 successfully raised £700,000 and built it to 2 million users. Keld co-founded PhoneAPlumber.com in 2012 which pivoted into SmartTrade App in 2014 which was seed funded by the respected EC1 Capital.

      Catherine Woolgar | CTO, Co-Founder

      Catherine's focus being on technical quality and innovation, coordinating app programme with developer team, with mission to deliver innovative smart mobile app and other digital media. Prior to SmartTrade App Ltd., she founded two successful software companies Billy Creative and Commoditex, providing software solutions from creative apps to sophisticated commodity trading packages, with latter capitalising on previous career in commodity trading at ABN AMRO and Enron. With extensive array of software skills and commercial background, she has been uniquely positioned to deliver the SmartTrade and third party apps.

      Angela Swift | CFO

      Responsible for funding, financial forecasting and valuations, accounts and tax reporting, investor communications and commercial agreements with API partners. With technical particle physics career in Oxford University and Italy and c. 15 years in Investment Banking at Merrill Lynch, ABN AMRO and latterly Barclays Capital, in variety of strategic, transactional and advisory roles across financial markets and Government and Corporate sectors, Angela is well placed and credible to deliver on financial and strategic direction of company.

      Advisory Board

      Roy Vella

      Roy Vella is hugely respected as an authority on digital money. Ex-Advisor Lloyds Banking Group, Intuit and Visa Europe. 2003-2006 Ex-Director, Business Development US Merchant Services PayPal. Stanford graduate.

      Stephen Hart

      Stephen is ex CFO of WorldPay PLC, the Uks largest card processor with over 50% of the UK card transaction volume and has a market cap of over £6 billion on FTSE. Currently CEO Cardswitcher.co.uk the UK's only price comparison website for credit and debit card processing costs for SME's and mid-market corporates.

      Julian Carter

      Julian is a respected and key 'funder for emergent tech companies from Londons tech hub, Silicon Rounabout in East London. Founding Partner and Managing Director of EC1 Capital Venture Capital & Private Equity investing in Post Seed, Series A Investments in SaaS and Mobile.

      Ross Andrews

      Ross has 30 years’ experience advising companies and management teams on public market transactions, largely in the UK but also in Europe, Australia and Asia. Ross has worked on a range of equity capital matters including many IPOs. Ross was a director and shareholder of Zeus Capital until October 2015, Zeus raised over £1.5 billion in 2015.

    • Market

      There are 5.7 million Small Business owners in the UK, 3.4 million of which consist of sole proprietorships (source: FSB). Extend this to the rest of the EU and you're looking at 23 million SMEs (source: European Commission), where 93% are made up of less than 10 people in the team. These are the size companies which fit right in with SmartTrade App's target audience, and who more often than not are looking for payment providers and business apps tailored to small, dynamic businesses. In a recent survey as many as 44% of SMEs across the nation believe they are not losing out on any revenue by not accepting card payments (source: SmartTrade App).

      Within these SMEs SmartTrade App targets three types of merchant opportunity;

      Sole Traders - also called ‘micro merchants’ examples of these are plumbers, electricians, beauticians, drivers and freelancers.

      Small Businesses - three man teams and up who look to grow their businesses. Examples are trade service companies, repair companies, software development, mobile service companies such as white good repair companies, driving instructors, property maintenance, electrical engineers, estate agents and private drivers.

      Enterprise - these are companies with lots of merchants working with a service they provide such as Banks, Loans companies, Job lead providers, or Telecoms companies.

      National and international Bank and Merchant organisations (such as Quotatis) are looking for mobile payment and SME solutions for their customers and SmartTrade has proven the concept and are in the perfect time to strike and disrupt the market.

      SmartTrade App is seeing strong growth in one of its main Key Performance Indicators namely Debit and Credit cards processed through the app and online Web Dashboard, we see month on month steady growth with a total €9.2 million in cards processed through the app to date and €6 million+ in the last 18 months;

      Card Volume up to May 2018

      January to May 2018 showing the most significant consistent upward trend ever. From £180k January, to ~£400k in May.

      Small businesses are looking for Mobile Point of Sale (mPOS) devices that plug into their smartphones  to take customer card payments and Invoicing software to operate on the move all over the world. SmartTrade App is a software only version of an mPOS device, and these devices are being sought out by SMEs to grow their businesses. SmartTrade App offers much more than a 'virtual mPOS device' in an app, but mPOS market analysis is highly relevant.

      Smartphone hardware mPOS shipments are expected to keep growing in the next years at a CAGR of 40% between 2013 and 2018, leading to 52.1 million mPOS units to be shipped in 2018 (which equates to roughly half the total number of POS devices to be shipped). The US market has been driven by Square, the company that made the hardware mPOS business take off. (Source: Smart Insights 2014 mPOS report).

      SmartTrade App is just an App and does not have to ship hardware and has an immediate advantage of mPOS terminals in activating merchants. The speed and cost of distribution being reduced to zero. As a societal movement software always replaces hardware over time. ‘Software eats the world’ Marc Andreessen, founder of Netscape and VC Andreessen Horowitz.

      The European hardware mPOS market is anticipated to grow at 68% CAGR over 2013-2018. Thanks to the dynamic of the region and the size of the Chinese market will have the fastest growth throughout 2013-2018. In the mid-term, mPOS solutions will become viable solutions for merchants willing to completely replace their traditional POS terminal solutions (older standalone card reader devices).

      Twenty-five smartphone hardware mPOS solutions are currently live across Europe and several key banks have started mPOS pilots with 30 implementation projects set to launch a new Chip and PIN compliant program by autumn this year; the most recent being Barclaycard in the UK. Caroline Drolet, Head of Mobile Point-of- Sale at Visa Europe said: “Small businesses have been traditionally reluctant to embrace card payments but across Europe that is changing. mPOS is the catalyst for that – it’s a solution that dispels many of the convictions previously held and genuinely works for small businesses, if they are accepting payments at their premises, or on the go. As these firms get to grips with the benefits and usability of mPOS we are going to see adoption rise.”

      Versus the smartphone mPOS devices SmartTrade App is ahead of the market and has a much more compelling feature set for smaller growing business including team job and sales management, paperless quotes, invoice and receipts and accounting software integration.

      “SmartTrade App is five years ahead of the competition.”

      Stephen Hart, ex-CFO, Worldpay  (UKs largest card processor £3bill FTSE / 52% of UK market)

      The most attractive countries to SmartTrade would be those combining the highest GDP with the highest m-commerce CAGR therefore our Partner opportunities lie in these countries - USA / Canada, Germany, France, Spain, Italy, Netherlands and Australia/ NZ. Growth in Emerging markets will be undertaken on an opportunistic basis.

      SmartTrade App plans to enter new two international markets with reseller or white label partners in 2018/19 and has been in dialogue with several foreign banks.

      Alongside mPOS there is a growing adoption of Apps and cloud based software to run the small business. Once software like SmartTrade App would have been restricted to larger corporates paying top dollar for bespoke applications. The open source movement, cheap iPhone, Android and cheaper computing (real and virtual) coming together changed all of that. Apps are now ubiquitous for consumers and small business owners.

      “Today’s reality is that technology solutions delivering capabilities on par with the largest enterprise are affordable for even the smallest of businesses,” says Steven Ostrowski of CompTIA, the global trade association for the IT industry. (Source: CompTIA Telegraph Business)

      And a study by SAP found that “SMEs that have embraced digital technology show faster growth than companies that have not.” (Source: SAP, Telegraph Business)

      SmartTrade App provides a complete payments to paperwork app for the small business owner. “Active participation in the digital economy will be essential to survival in the next three to five years.” (Source: SAP, Telegraph Business).

       

      Market Size Summary

      * In the UK alone est. £100 billion+ UK Trades Industry, including UK Plumbing £17 billion alone

      * 5.7 Million SMEs in UK, 23 mill in EU, 30 mill in US

      * Target SMEs turning over up to 50k pm with 3 employees or more

       

      Fragmented product market

      * Out of date card reader hardware market and perceived as expensive by merchants

      * Multiple software products needed to run growing mobile company

      * Merchants currently need to pass due diligence to get card reader

       

      Key Trends Summary

      * Apps are used daily by SMEs

      * MPOS Card readers Compound Annual Growth Rate 30-50% pa

      * iZettle sold to PayPal for $2.2bn

      * Societal shift to digital money e.g. Apple Pay and Contactless (max £30) 

       

    • Products/Services

      SmartTrade App has two product offerings;

      Partner Apps 

      Offers a Cobrand or white labeled service. There are some key unique features of SmartTrade App that make it compelling to partners. An example of this is Quotatis Smart App;

      "Quotatis Smart App is a fantastic new app that gets you more work and gets you paid in just a few taps. Get your Quotatis leads delivered instantly to your phone, so you can make a sale quicker. Take credit and debit card payments on the go. Amazingly there’s no need for a card reader or costly merchant account. Turn your iPhone, iPad or Android device into a credit card reader, go paperless and start making your working life easier."

       

      SmartTrade App own brand

      There are three plans;

       

      SoleTrader - for the individual business owner or 'prosumer'

      Business - for SMEs of up to 15 members

      Enterprise - for companies 16 members upwards

         

      SmartTrade App's key benefits for SMEs;

      Convenience - SmartTrade App turns your smartphone into a card reader, invoice, quote and job/sales manager. There is no other 100% pure app solution in the UK/ EU market. With no hardware to ship, merchants can start taking payments much quicker with SmartTrade App than normal mobile Point Of Sale (mPOS) products. Teams can scale up quickly without having to deploy expensive mPOS card hardware.

      100% reliable - No Hardware or card reader neede. No expensive Merchant needed. Processes cards every time without the fear of hardware not pairing, or losing the device. No expensive merchant account or lengthy contract.

      Highest level security - PCI Level 1 secure for card payments. Military grade. Card details are never stored on the phone.

      Pricing - Competitive Card Rates; Onboarding rate is 1.85% + 20p and a very affordable monthly subscription plans Sole Trader, Business and Enterprise for all other features.

      Never touch paper again - Payments to accounting software sync to go totally paperless including Quotes, Invoices and Receipts in SmartTrade's end to end paperless solution.

      Three ways to take Cards -

      1. Face to face
      2. Over the telephone
      3. Online by email, called Paylinks

      As a comparison 90% of competitive card reader products do not allow for beyond face to face card payments. WorldPay, UKs largest card processor charges 7.50pm for Paylinks, £7.50pm for cards over the telephone and £50 for card reader hardware and min £6pm for PCI Compliance, which totals to around £20pm. Comparably smartTrade is £9.99 so 50% cheaper than Worldpay.

      Scalable tech - Scales globally across Web, iOS and Android. For the resource SmartTrade Apps development has built an incredible software platform scaling to tens of thousand of merchants and multi currency is already in the app.

      Payment Agnostic - Debit and Credit Cards, cash and other payment methods to follow such as bank to Bank instant payments.

      Multi currency - is already live in the App with GBP, EURO, USD.

      SmartTrade App beats competition - SmartTrade App vs Competitors Rates;

       

      SmartTrade App vs Competition

       

      Merchant Testimonials;

      Excellent App store rating;

      We are very proud to announce that SmartTrade App has been announced as the WINNER for the Mobile Payment Solution of the Year Award 2016;

      We were up against companies like MasterCard, Barclaycard, CaixaBank, GPS for Osper, ribot & Harris + Hoole and came top with our innovations in card-readers and mobile card payments.

      SmartTrade App has now occupied a new category in mobile card payments known as aPos or App Point of Sale. We are the only mobile card payment solution that doesn't require hardware.

      It's a very proud moment for the team here at SmartTrade App. We want to thank the Payment Awards for recognising us and for hosting such an excellent event.

       

      PayByBank 'Paiements plus Rapides'

      In partnership with Barclays Bank SmartTrade App is going to implement PayByBank into SmartTrade App Q2/Q3 2018 for Q3 2018 release.

      PayBy Bank is;

      • Bank to Bank payment method like Faster Payments in an app so extremely fast - almost instant - payment settlement (Paiements plus rapides)
      • Faster Payments are currently slow user experience in the current flow
      • Settlement is alomost Instant within minutes
      • No chargeback facility protects the merchants
      • Very low cost
      • MOU Agreement to add PBB in SmartTrade App by UKs second largest bank
      • Signed MOU Targeting 135k merchants in 3 years
      • Copromotions through Barclays, Wirecard and Vocalink
        • Email campaigns, paid advertising, TV advertising and more...

       

    • Milestones

      SmartTrade App has hit some key milestones since its first app was released end 2014;

      • €9.2 million in cards processed through the app
      • €6 million+ in the last 18 months
      • Major Uk white label in market with 5+ NDAs with key national and international corporates
      • MOU with Barclays for 135k merchants within 3 year target
      • 1.5k+active paying merchants
      • 340 different Merchant services from goods to services to charities 
      • €9-€11kpm (€27kpm breakeven)
      • High Average card transaction of €250 vs Uk average £47
      • 2 year 50% IRR
      • 26% conversion from free trial to paying
      • 4.5 star appstore rating on iTunes/ Google Play
      • No advertising or marketing budget to date
      • Featured in;

      Press

      SmartTrade App is now looking to capitalise on its market position in the UK and leverage its technology, brand and team by selling to new partners and merchants as well as some small scale marketing for its own brand by raising £500,000 to drive major partner developments with financial institutions and a significant ramp up in sales and marketing efforts from Q3/Q4 2018 before a potential funding event (IPO on AIM, London) in the medium term. The funds raised will take SmartTrade App to break-even.

      SmartTrade App Ltd is more than likely going to IPO in the Q1 or Q2 2019;

      An Initial Public Offer (IPO) such as a listing or quotation on a public market. SmartTrade App already has the support of Novum Securities for a potential AIM listing in the medium term. We have met and discussed a public offering with Cenkos Securities who are keen to help us in this process. Cenkos Securities is a highly respected public market fund raising City machine focused on UK small and mid-cap companies.

      Unless there is the following event; 

      1. Trade sell – to a financial institution
      2. Trade sell – to customer (e.g. 3rd party partner)
    • Key Data

      SmartTrade App through its partners, partners in negotiations and own brand is executing its plan;

      Card Volume

      The velocity of cards processed has increased dramatically in the last 12 months with over E 4million being processed on fairly low merchant numbers, circa 1,500. This shows greater trust and use in the product and is used as a benchmark for scaling more merchants;

       

      Monthly Recurring Revenues (MRR) have grown significantly from Q1-16 from subscription launch and White label app with diversification of income from subscriptions, license fees and transaction fees;

       

      1,500+ Active merchants from steady organic sales with high conversion and significant white label on-boarding. High Gross Profit margin of 87% and strong EBITDA; 

       Average Revenue Per User Example;

      Average Revenue Per Merchant for Summer 2017 SmartTrade App own brand €22 per merchant

       €6 per merchant per month white label (Quotatis); 

      SmartTrade has managed costs through product cycle to deliver impressive apps and can now harness sales growth;

      Accelerating Sales, New and International Partners; 

      New partner deals;

      Segment Prime
      Market identifier
      Name SmartTrade App Ltd
      Short name STA
      Sectors
      ISIN
      Currency GBP
      Trade post 0
      Trade start 2016-08-25
      Number of shares 0
      Vat number
      Entity number
      Country United Kingdom
      Instrument type share
      Votes per share 1
      Share class A
      Address

      First Floor,

      10-16 Scrutton Street,

      Shoreditch,

      London EC2A 4RU

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