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techhub.com

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Founded Year

2010

About TechHub

TechHub is a unique environment where technology startups can start up faster. TechHub nurtures an international network of like-minded and focused tech entrepreneurs, providing places where they can work, meet, collaborate, network, learn and have fun. By getting the right people together in a physical space, good things happen.

TechHub Headquarter Location

20 Ropemaker Street

England, EC2Y 9AR,

United Kingdom

Latest TechHub News

Signed: Credit Clear (ASX:CCR) share price spikes 12% on new agreement

Nov 12, 2021

This marks an important step in the company’s international expansion. Zach is an equities analyst at a European hedge fund. As such, he has a unique approach to research and investing, taking a top down approach to identifying unique value propositions that sit within his circle of competence. Zach enjoys the more Foolish things in life, in addition to Rugby. He holds a Masters in Finance and Bachelor of Physiotherapy. You can view Zach's holdings here . Latest posts by Zach Bristow ( see all ) Image source: Getty Images Shares in Aussie FinTech Credit Clear Ltd (ASX: CCR) are roaring today and now trade 12.50% higher at 54 cents. Credit Clear shares are claiming territory following a company announcement advising it has signed a global partnering and teaming agreement. It has signed the deal with South African companies Centriciti Techhub and Credit Solutions Services. The “Techhub” as it is collectively known, provides tech solutions and business processing to the financial services industry. It is headquartered in Johannesburg South Africa, per Credit Clear. Under the agreement, Techhub will deploy Credit Clear’s digital platform across some of its existing accounts receivable portfolios. Here are the details of the arrangement. Credit Clear signs new partnering and teaming agreement Credit Clear touts its platform as the premier digital platform for optimising account receivables and customer relationships. As part of the partnering agreement, the company’s digital platform will be rolled out to a number of accounts receivable portfolios on Techhub’s books. Credit Clear will support the platform remotely from Australia and will be paid a commission on all payments made across identified portfolios. From Tehchub’s end, it has identified a minimum portfolio of $50 million and up to $100 million on an initial 3-month basis to implement the platform. Following this initial phase, Techhub will then identify and select portfolios across its remaining account receivables portfolio. Credit Clear is pursuing a total pool of receivables of up to $1 billion in Techhub’s portfolios, per the release. With respect to the teaming side of the agreement, the pair will jointly pursue new opportunities across international markets. Techub will retain exclusivity to market Credit Clear’s platform in the African market, as well as non-exclusive rights to market it internationally. As such, all revenue from business wins in the teaming side of the agreement will be shared equally. What’s in it for Credit Clear? According to the announcement, the agreement provides Credit Clear with immediate access to globally significant portfolios in new geographies. By its nature, the agreement significantly reduces the capital expenditure associated with international expansion. It achieves this by removing setup costs, switching costs and what the company calls “in country” development costs. Moreover, it allows Credit Clear to “leverage existing capabilities and infrastructure from Australia and scale significant new account receivable volumes in new markets in a capital efficient way”. The company aims to have the platform ready by January 2022 after completing minor development work to prime it for international deployment. Credit Clear’s CEO, David Hentschke, said that international expansion is a key priority for the company. As such, the agreement offers the greatest international opportunity to date, says Hentschke. Talking about the agreement specifically, Hetschke said: We look forward to working closely with Techub. The results we’ve produced in Australia by applying our digital platform, with its cutting edge, optimizable workflows and behavioual AI, have demonstrated the enormity of the global opportunity. Appling our technology to Techub’s multi-billion-dollar portfolio of account receivables, is exactly how we envisaged the pathway to global expansion and scale. Credit Clear share price snapshot It hasn’t been the best year for the Credit Clear share price. In the past 12 months, it has fallen deep into the red, posting a loss of 33% after falling another 28% this year to date. Each of these results come in well behind the S&P/ASX 200 index (ASX: XJO)’s return of around 16% in that time. Should you invest $1,000 in Credit Clear right now? Before you consider Credit Clear, you'll want to hear this. Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now... and Credit Clear wasn't one of them. The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more. * And right now, Scott thinks there are 5 stocks that are better buys.

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