Analysing Peppermint Innovation’s unique advantage in south-east Asia fintech, with CEO Chris Kain
Kain highlighted that the traction PIL has built in its core Philippine market takes doesn’t just happen overnight.
Fintech platform Peppermint Innovation (ASX:PIL) has made a strong start on the ASX boards since it re-listed last month.
After raising capital in an oversubscribed 2.5 million dollar share placement at 1c per share in February, the stock has consolidated above 3c.
It marks a vote of confidence from investors as PIL expands its mobile payments platform in south-east Asia.
Peppermint’s core market is the Philippines, where it’s looking to execute on a multi-channel strategy based around its bizmoto platform – a ‘one-stop shop’ that includes online payment solutions, access to microfinance and financial services options such as micro-insurance.
The market opportunity lies in PIL’s capacity to use tech solutions to provide additional services to customers in the Philippines, a country with a large population of underbanked consumers.
But speaking with Stockhead, Peppermint CEO Chris Kain said it takes more than just industry tailwinds to build out a successful strategy.
“The time we have spent establishing a commercial operation with blue chip strategic partners is not an opportunity a new entrant into the Philippines market gets,” Kain said.
“It comes from significant time and efforts on the ground, which in our case has been built up over many years.”
During that time, the business has established a “proven track record of technology development and solutions delivery”, Kain said.
In turn, PIL’s bizmoto platform has been built out in direct consultation with financial regulators – most predominantly the Bangko Sentral ng Pilipinas (Philippines central bank).
“We have proven capabilities and are living and breathing the push to create financial inclusion for the unbanked/underbanked,” Kain said.
The company’s aim is to provide a market- based solution for that pursuit, which is “recognised by the biggest humanitarian organisations and benefactors in the world as a way to improve global living standards”, he added.
“This in itself is a major asset of the company, and separates us from other new fintech companies hoping to establish and roll out in developing world countries.”
With a multi-year market presence and a deep working relationship with regulators, Peppermint has taken the long road to establishing a viable market solution in its core market.
As a result, the company is now positioned for growth with its mobile ‘super-app’ concept, where bizmoto provides a simple mechanism for millions of customers to get access to inclusive financial, payment and lifestyle services.
With more than 15 staff on the ground in the Philippines, Peppermint is focused on its next phase of growth which has the capacity to reward both investors and customers alike.
This article was developed in collaboration with Peppermint Innovations, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.