In Q4 2023, Crunchfish reached a milestone when the Reserve Bank of India (RBI) approved the company's solution for offline payments, following a successful pilot project with IDFC First Bank and HDFC. IDFC First Bank will now implement Digital Cash telecom for the digital rupee. Crunchfish also launched a new product, Digital Cash Protector, which increases the security of offline payments. Furthermore, Crunchfish writes down the value of gesture interaction and announces that the business area will be divested.
The write-down has little impact on our model and we maintain our fair value of SEK 12.70 per share.
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