ISIN.com news update courtesy of press release issued by Swiss-based Cashcloud AG, which announced its listing on the Frankfurt Stock Exchange
• Twelve million bearer shares admitted to trading
• Cashcloud app turns smartphone into an electronic wallet
• Collaboration with MasterCard®
• Cashcloud’s eWallet to be extended to the entire euro area
Basel, Switzerland, 8 June 2015. Swiss-based Cashcloud AG (cashcloud), a young fintech company that turns smartphones into electronic wallets, is listed on the General Standard of the Frankfurt Stock Exchange as from today, Monday. A total of 12 million bearer shares with ISIN CH0132106482 and WKN (German security identification number) A14NYB have been admitted to trading. The stock symbol is KCC. This flotation is purely a commencement of listing and did not entail a capital increase. Today is the first day of trading for the shares. Cashcloud’s stock market flotation was lead-managed by VEM Aktienbank, Munich, with Süddeutsche Aktienbank as the designated sponsor.
“Going public in Frankfurt gives us access to the capital market and makes it easier for us to finance our planned growth,” said Sven Donhuysen, the founder and chairman of Cashcloud AG.
Established in 2011, the group provides private and business customers with the mobile cashcloud eWallet, an electronic wallet for smartphones. The free application (app) covers all key functions for paying in stores as well as online. Payment functions are combined with coupons and the collection of bonus points. The all-in-one solution supplements traditional banking services with the addition of mobile payment using a smartphone and the facility to send money to friends, without using an IBAN, as easy as writing a text message or Whatsapp.
In collaboration with MasterCard®, cashcloud offers its users a solution that makes paying in stores or in online trading traceable in real time for the first time via smartphone. At cashcloud, the payment services are performed by licensed e-money institutions that also manage the customers’ accounts and deposits and are subject to regulatory supervision. Cashcloud is responsible for the technical infrastructure and the programming of the user functionalities.
The mobile cashcloud eWallet with its full range of functions is currently available in Germany, France, Spain and the Netherlands. There are plans to extend this in the coming months to other euro zone countries with significant market potential.