UMT United Mobility Technology AG (“UMT”, GSIN: A2YN70, ISIN: DE000A2YN702) announces a new strategic partnership with London-based private equity fund Kingsbridge Capital Advisors Ltd. to accelerate future business development for consulting and services in existing markets. Kingsbridge Capital Advisors Ltd. is an FCA (Financial Conduct Authority) regulated investment house and value accelerator with a focus on European small- and mid-cap companies.
The partnership also allows UMT to increase its existing positive revenue guidance for the full year 2019 to TEUR 11,500 with an expected EBITDA margin of 35%.
In addition to the UMT Group's existing offerings in the area of Industrial Internet of Things (IoT) and Pay-per-Use for Machine-to-Machine (M2M) payment applications, UMT sees a multitude of further opportunities for digital services in the entire FinTech sector in the future. The highly sought-after expertise in the development, introduction and operation of nationwide secure mobile payment solutions forms the solid basis for further services.
The new strategic partnership and the exchange with leading representatives of the financial industry enabled UMT to gain early insight into the ongoing profound changes in the financial sector and to identify an urgent need for cost-saving digital solutions.