What Bango does
The firm works with tech giants such as Google, Amazon, and Microsoft to help them process payments from their mobile customers across their app stores.
Bango also offers insights derived from the data it processes from transactions, allowing businesses to have more visibility on their customers and markets.
What it owns
Bango has two main strands to its business, a payments platform and the Bango Marketplace.
The mobile payments platform allows mobile app store customers to click and buy apps or in-app content and placing the charge on their mobile phone bill.
The company’s app store partners include the Google Play Store, the Amazon Appstore, GALAXY Apps from Samsung, and the Windows 10 and Windows Phone Store from Microsoft.
Bango Marketplace, meanwhile, allows mobile app developers to direct their marketing towards target customers by purchasing data segments gathered through the company’s payment platform.
How it is doing
Bango saw end-user spend (EUS) on its platform more than double in 2018. The momentum continued into 2019, with EUS in the first half of the year topping £465mln, which was more than double the figure of £220mln in the same period of 2019.
Half-year revenues increased 64% to £4.32mln from £2.63mln, while revenue earned from processing end-user spend increased by 43% to £3.18mln from £2.22mln.
Operating profit before depreciation, amortisation, share-based payments and exceptional items turned positive at £10,961, compared to a loss of £915,555 in the same period of 2018.
The reported loss before tax narrowed to £1.69mln from £2.24mln the year before.
In tune with Spotify
The AIM-listed mobile commerce firm said under the partnership, Spotify’s service will be available for operators to bundle with their own mobile or fixed subscription plans.
The bundling and reselling of services such as Spotify is often sought after by mobile operators and subscription service firms as it allows them another way of retaining customer loyalty as well as attracting new, higher-value customers.
What the boss says: Ray Anderson, CEO
"The Bango strategy continues to deliver success for our customers and this is being demonstrated by the continued, rapid growth in the Bango business.
“The outlook is promising as the synergies across the Bango business deliver increasing value to our customers," he added.