Sthaler Limited Investment Update

RNS Number : 7801T

Blue Star Capital plc

27 July 2020

 

Blue Star Capital plc

("Blue Star" or the "Company")

Sthaler Limited Investment Update

Blue Star Capital plc (AIM: BLU), the investing company with a focus on esports, payments, technology and its applications within media and gaming, is pleased to provide the following update regarding its investee company Sthaler Limited ("Sthaler").

Sthaler is an early stage identity and payments technology business which enables consumers to identify themselves and pay using just their finger at retail points of sale. Stahaler has recently redesigned its range of identity authentication, age verification, access and payments products which are being launched under the new 'FinGo' brand including FinGoPay, FinGoID, FinGoID Plus and FinGoPass.

In June 2020, FinGo was approved for age verification by Manchester City Council Licensing Authority under Primary Authority guidelines. FinGo includes the ability to capture and store user's contact details securely, with their permission, which can be activated as part of test and trace efforts. In the case of an outbreak, an establishment operating FinGoID will be able to quickly contact customers or seamlessly supply this information to the Government's Test and Trace teams.

With Manchester's hospitality sector now reopening, Sthaler is hoping that its FinGo technology will help the city's hospitality industry to reopen safely and in line with the Government's guidelines on test and trace capability. Unlike fingerprint technology, FinGo utilises each user's unique vein pattern to enable secure, identity-enabled transactions; and is not affected by external influences (moisture, dirt, light) which affect the performance of other biometrics.

Sthaler's recent awards include Fast Company: Top 10 Europe's Most Innovative Companies, 2020; UK Enterprise Awards: Identity Servicer Product Innovator of the Year, 2020; Syndicate Room: Top 100 Fastest Growing UK Companies 2019; Telegraph: and Smart City Innovation Award Industry Innovation of the Year, 2019.

Blue Star currently owns 0.9% of the Sthaler's share capital.

Tony Fabrizi, CEO of Blue Star commented: "This latest development of Sthaler's technology marks another significant step forward for the Company and illustrates the great flexibility and value of the company's solutions."

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

For further information, please contact: Blue Star Capital plc Tony Fabrizi, Chief Executive  [phone] Cairn Financial Advisers LLP Nomad & Broker Jo Turner/Liam Murray/Mark Rogers [phone]

About Blue Star Capital

Blue Star is an investing company with a focus on new technologies. Blue Star's investments include a 27.7% holding in SatoshiPay, a payments business using blockchain technology; investments in 6 early stage esports companies with shareholdings ranging from 11% to 18% and a 0.9% investment in Sthaler, an identity and payments technology business which enables a consumer to identify themselves and pay using just their finger.

About FinGo

FinGo is the world's first biometric identity authentication solution, open to everyone. Powered by Hitachi's VeinID technology since 2015, FinGo uses unique vein patterns hidden inside a finger to instantly identify and authenticate individuals without the need for cards or devices to be present.

Originally payments focused, parent company Sthaler Ltd was founded from a desire to create a cashless experience for festivals and events, with Fingopay introduced at Festival No 6. Since then the company graduated from the Visa Collabs program, and completed successful pilots at Proud Bar Camden, Brunel University, Copenhagen Business School and the Etihad Stadium Manchester.

A redesigned range of products is being launched under the new FinGo Brand including FinGoPay, FinGoID, FinGoID Plus and FinGoPass. The products focus on identity authentication, age verification and access, as well as payments. In June 2020 FinGo was approved for age verification by Manchester City Council Licensing Authority under Primary Authority guidelines. 

Recent awards include Fast Company: Top 10 Europe's Most Innovative Companies, 2020; UK Enterprise Awards: Identity Servicer Product Innovator of the Year, 2020; Syndicate Room: Top 100 Fastest Growing UK Companies 2019; Telegraph: Smart City Innovation Award Industry Innovation of the Year, 2019 and Restaurant TECH Live: Tech Product of the Year, 2018.

www.fingo.to  

 

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