LONDON -- Mobile Money technology business Monitise has just announced a milestone for both the company and the broader digital commerce space.
The announcement, which can be accessed here and is copied below, includes details of new commercial partnerships involving Santander, Telefónica, MasterCard and IBM that will accelerate the take-up and roll-out of Monitise-enabled products and services. It represents a deeper collaboration with strategic partners across industry verticals which support Monitise’s open platform strategy.
MasterCard, Telefónica and Santander are also investing a combined £49.2m in Monitise.
Together, this is a significant endorsement of Monitise’s strategy by a leading global payment network, mobile network operator and bank. It also emphasises the shared reward of investment in the new Monitise platform. Separately, Monitise is broadening its partnership with IBM by working together on new initiatives that will leverage Watson, IBM’s cognitive computing platform, for Monitise-enabled products and services.
Monitise has also today reiterated its guidance to be EBITDA profitable in FY 2016, as well as reiterating longer-term guidance for FY 2018 of 200m registered users at £2.50 average revenue per user, an EBITDA margin of at least 30% and a sustainable gross margin above 70%.