Investee Company Update

RNS Number : 7436T

FastForward Innovations Limited

31 March 2016

 

FastForward Innovations Limited

31 March 2016

FastForward Innovations Limited

("FastForward" or the "Company")

Investee Company Update

FastForward notes the announcement made today by SatoshiPay Ltd. ("SatoshiPay") in relation to its main product, SatoshiPay.

March 31^st, 2016

For Immediate Release

"SatoshiPay releases results of initial product launch

SatoshiPay, a blockchain-based nanopayments company that enables digital transactions on a micro-scale, today announced interim results of its product launch.

SatoshiPay's technology enables content publishers to facilitate nanopayments, generating new revenue streams for publishers by allowing them to monetise content they previously would be unable to.

On February 1^st, 2016, SatoshiPay released the first version of its product, which integrates seamlessly with WordPress, the world's most popular web publishing platform, powering over 26% of websites globally.

SatoshiPay co-founder & CEO, Meinhard Benn was quoted "we were eager to release the first version of our product as fast as possible and the engagement from publishers and users has been tremendous".

SatoshiPay is pleased to report that in under 2 months, the company's platform:

·    Facilitated over 1,607 sales

·    Catalogued over 6,687 items for sale

·    Adopted by over 120 publishers

·    Generated over 7,964 unique user wallets

"We are very early on in the development of our product, but we've had an impressive reaction to the product without any advertising or marketing. We have proven that nanopayments can create monetisation opportunities, where they didn't exist before" continued Benn.

Master Investor Ltd, the company that operates the hugely successful "Master Investor" magazine is one of the early adopters of SatoshiPay, utilising the product on just one web page, has seen strong results using SatoshiPay. Swen Lorenz, CEO of Master Investor said "We are big believers in nanopayments as a means to monetise content that we traditionally haven't been able to monetise, we are very impressed with the interim results and are eager to expand the trial."

SatoshiPay intends to release future updates to its WordPress product as well as expanding its product line to support the growing demand for nanopayments across digital products that run on the web and mobile.

About SatoshiPay:

SatoshiPay was founded in Berlin in September 2014 by Meinhard Benn, Henning Peters and Kilian Thalhammer as a Bitcoin payments company. SatoshiPay Ltd is headquartered in London and development is done through the Berlin subsidiary SatoshiPay Germany UG. Angel funding for SatoshiPay Ltd was supplied by Axel Springer Plug & Play and Henning Peters, seed funding was raised through publicly listed companies Coinsilium Group (ISDX:COIN) and FastForward Innovations (LON:FFWD). Development of SatoshiPay's nanopayment product started in April 2015 and its beta version was released in February 2016. Find frequently updated information at the company's website https://satoshipay.io, its blog https://medium.com/@SatoshiPay and Twitter @SatoshiPay.

Contact:

Meinhard Benn
Co-founder and CEO
[e-mail]
https://satoshipay.io
Twitter: @SatoshiPay"

For further information, please visit www.fstfwd.co or contact:

FastForward Innovations Limited Tel: [phone] Elysium Fund Management Limited

Beaumont Cornish Limited (Nomad) Tel: [phone] James Biddle / Michael Cornish

Peterhouse Corporate Finance Limited (Broker) Tel: [phone] Guy Miller / Lucy Williams

 

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