UMT United Mobility Technology AG (UMT) 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. 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%.
"The entry of large companies with products such as Apple Pay and Google Pay into the German mobile payment market in the last 24 months has been a wake-up call for many slow-acting companies. This step creates massive catch-up potential for German and European solutions based on UMT's unique technology, IP and outstanding operational track record," says Dr Albert Wahl, CEO of UMT United Mobility Technology AG.
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.
"Negative interest rates and further increases in regulatory and compliance standards are eroding the business models of traditional banks and financial service providers. The enormous cost pressure paves the way for new and cost-saving digital solutions. This opens a new window of opportunity for lean and agile companies such as UMT. We have proven that we can build, adapt and operate superior technologies that conform to high-security standards more efficiently and cost-effectively than large competitors," says Dr Albert Wahl.
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.
About Kingsbridge Capital Advisors Ltd.:
Kingsbridge Capital Advisors Ltd. is an FCA (Financial Conduct Authority) regulated investment house and value accelerator based in London with a focus on European small- and mid-cap companies. Since its first investment in 2005, Kingsbridge has invested more than € 750 million in companies in Europe.