India PR Distribution
New Delhi [India], August 16: Spacenet Enterprises India Ltd, a global fintech enterprise (NSE: SPCENET), has announced its intention to raise 100 Crores through Preferential Issue. The board has also approved its investments in five burgeoning new age tech companies, focusing on Fintech, Neo Bank, AI, Proptech, and GameFi. These investments in new age technology firms will unlock substantial value for Spacenet’s shareholders.
Spacenet is dedicated to empowering traders, small and medium-sized enterprises (SMEs), micro, small and medium enterprises (MSMEs), and trade channels. It also aims to bridge the trade finance gap by leveraging financial technology to enhance and streamline trade and trade finance operations. Spacenet’s operations are not limited to providing services; they also build, invest in, and support fintech companies that power traditional finance (TradFi). Spacenet’s vision is driven by New Age Technology, ESG compliance, zero debt, low capex, and high scalability.
Its goal is to create substantial shareholder value in next three years. Its focus is on identifying, working with, investing in, and harnessing the potential of life-changing tech enterprises. Its impact is to fuel the unprecedented growth of the Indian capital market.
Spacenet Investments will capitalise on these technological trends that are set to shape the next decade:
* Generic Artificial Intelligence (AI):
Spacenet software division will be merging with Chennai based company Pathfinder Enterprises Solutions Pvt Ltd.
Pathfinder Enterprises Solutions Pvt Ltd stock will get listed as Generic Artificial Intelligence (AI) Company, and all Spacenet Shareholders will get equity in Pathfinder.
AI expected to reach USD 2 trillion by 2030 (20x growth). It encompasses computer vision, natural language processing, risk management, etc.
* PropTech:
Thalassa Enterprises Private Limited a Subsidiary as Spacenet Enterprises India Limited.
Spacenet will infuse further capital for buying distress assets and building Urban Storage Facilities
Targeted to reach USD 1 trillion by 2030. It converges the real estate industry with technology and software.
* Metaverse and Gaming:
Spacenet is planning to invest and acquire 12% to 15 % stake in GamiFi Company String Metaverse Limited
Gaming & Metaverse market is valued at USD 120 billion by 2028 (CAGR of 30%).
* Neo Banking:
Spacenet is planning to invest in Neo Banking BSE listed NBFC Company subject to shareholder approval
Estimated to reach USD 2,048 billion by 2030 (CAGR of 54%).It expands the non-traditional banking sector.
* Fintech:
Spacenet is going to increase its stake by further investing in BILLMART.COM, A Mumbai Based start-up, one of the fastest growing fintech platform in India
On track to reach USD 2.3 trillion by 2030. It receives substantial funding and opportunities.
Spacenet’s Prakash Rao Dasigi, Executive Director, said “We are delighted to announce our intention to raise 100 Crores through Preferential Issue and our investments in five new age tech companies. These strategic moves will help us to create substantial shareholders value in Next 1000 Days.
We believe that these new age technologies will shape the future of finance and trade and we are excited to be part of this transformation. We are confident that these investments will unlock substantial value for our shareholders and stakeholders.”
“Our Sales have gone up by 13% from INR 19.4 crs to INR 22 crs in the period from Jun 22 to Jun 23 and the EBIDT has zoomed up from INR 0.10 crs to INR 2.46 crs” he added.
Spacenet Enterprises India Ltd is a key player listed on the National Stock Exchange (Symbol: SPCENET). The company's approach is global, and they are committed to leveraging financial technology to enhance and streamline trade and trade finance operations. This commitment is reflected in their efforts to support and invest in other fintech companies, thereby contributing to the broader fintech ecosystem.
For more information, please visit Spacenet’s website at www.spacenetent.com
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