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While the numbers for Q3’23 came in as expected, the key takeaways from the report conference call painted a brighter picture. Following the recent release of UPI Lite X, that initially raised some questions about Crunchfish’s position, we now find some clear opportunities for Crunchfish in the expansive Indian market. With the raise of SEK 51.2m earlier in Q4, Crunchfish is now poised to scale up its collaboration with IDFC Bank, while continuing to engage with other banks and payment service providers. We keep our fair value intact of SEK 15-17 per share.
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