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Description of business:
The MoPowered Group has developed and offers a 'Software-as-a-Service' ("SaaS") platform which works with online retailers and e-commerce businesses to enable fully transactional mobile commerce (the "MoPowered Platform"). The MoPowered Group's main country of operation is the United Kingdom. The MoPowered Platform enables the MoPowered Group's clients to benefit from the attractive growth opportunities arising from the increasing levels of mobile device-initiated internet traffic hitting their websites. The MoPowered Platform sits alongside a client's e-commerce offering and provides a browsing, checkout and payment experience for consumers which is tailored primarily for smartphone users (and, to a lesser extent, tablet users) with the objective of significantly increasing mobile conversion rates and associated revenues. The MoPowered Platform uses automation (rather than full software development) to develop mobile sites for its clients. This approach delivers significant time and cost savings for its prospective clients, as compared to the alternatives. The MoPowered Platform contains intellectual property and operates using systems that provide a high availability of service to clients. The MoPowered Platform is already operating at scale, having processed in excess of one million of mobile transactions in the last year and now has over 100 contracted clients. Key referral agreements are in place with certain payment processing companies who, between them, provide payment services to over 80 per cent. of UK online merchants. The business model is predominantly based on long-term contracted, recurring revenues.

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MoPowered Group plc

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