Bango strikes oil with Dubai alliance
Cambridge technology influencer Bango is collaborating with Dubai-headquartered TPAY MOBILE to boost digital access across fast-growing, mobile-first markets in the Middle East, Africa and Turkey.
As the company’s UK share price began to nudge north, analysts at Liberum initiated Bango with a BUY, with a target price of 260p.
The Bango-TPAY MOBILE partnership simplifies and accelerates entry into new markets for online merchants by connecting platforms and pooling operational expertise.
The Bango platform is used by the world's most successful online businesses, including Amazon, Google, and Microsoft, to bring their products and services to billions of users worldwide.
By collaborating with TPAY MOBILE, Bango's merchant partners will more quickly be able to gain access to an estimated 1.5 billion people, thanks to the massive footprint of carrier billing and wallet providers TPAY MOBILE has in Africa, the Middle East and Turkey, which are now available through Bango.
TPAY MOBILE has pioneered digital commerce and financial inclusion in the Middle East, Africa, and Turkey. Its technology is used by regional digital merchants and international brands like Google, Apple, Unity, Huawei, PUBG and Tencent to connect to consumers across MEA and Turkey.
These merchants can now scale globally through the worldwide payment reach enabled by the Bango Platform. In addition, merchants integrated to either Bango or TPAY MOBILE can accelerate revenue growth from their products and services, by using Bango Audiences in marketing programs, which attract more paying customers through payment behaviour targeting.
Paul Larbey, CEO of Bango, said: “This partnership significantly increases the value of the digital commerce ecosystem for customers of both Bango and TPAY MOBILE. It accelerates Bango towards a key goal, to put people at the centre of commerce by enabling financial inclusion for everyone.”
Liberum’s timely not on the Cambridge business said: “Demand for digital content including apps, games and streaming media is rapidly expanding. Bango provides two key products – online payments and data monetisation – which benefit from this rising consumer spend on digital content, and from merchants wanting to increase their share of this spend through targeted advertising.
“The value of online payments Bango processes has been doubling every year. Data monetisation revenues are surging, and are expected to be the biggest driver of future growth.
“After 70 per cent revenue growth and c.800 per cent EBITDA growth in 2020, we expect continued strong growth in future years as well. We initiate with a BUY and a 260p target price.”