- U.S.-based FingerMotion is a communications insurtech services company experiencing steady growth as it rolls out novel mobile solutions for its China-centric clients
- FingerMotion reported record revenues of $4.88 million for Q3 and nine months’ revenues of $11.25 million, with year-end reporting expected by the end of May
- The company is rapidly building a highly engaged user base for its texting and e-commerce solutions, aiming to use its success to launch into even larger user bases
- FingerMotion’s Sapientus division has developed a powerful predictive database for consumer profiles that the company is using to attract B2B clients
Evolving communications and insurance tech company FingerMotion (OTCQX: FNGR) is pursuing the enormous, rapidly growing market for smart solutions in China. FingerMotion is a U.S-based company building on its mobile payment and mobile phone recharge platform IP for the international market, with a vision of acquiring service for more than a billion customers in China.
CEO Martin Shen provided an update on the company’s activities last month following the year-end close of the company’s fiscal cycle in February, noting that every quarter up through Q3 in November reported record revenues.
“Based on our results from the nine months ended Nov. 30, we are on pace to surpass $16 million in revenue for the fiscal year ended Feb. 28, 2021,” Shen said in the video update (https://ibn.fm/psNn5). “It is a testament to our team’s hard work that we have been able to reach such significant heights.”
Working with three major platform partners — Alibaba’s (NYSE: BABA) TMALL sites, PinDuoDuo (NYSE: PDD) and JD.com (NASDAQ: JD) — FingerMotion is working through China Unicom’s (NYSE: CHU) e-commerce portals to quickly build a large number of users comprising a highly engaged ecosystem that will help position the company strategically to onboard larger customer bases for its innovative applications with a minimum of capital resources.
“And as we also manage all three major telecom portals, we have the potential unfettered access to as many as 1.6 billion users. In comparison to the other e-commerce companies who devote a significant portion of their annual budget just to keep their user base engaged, our competitive advantage is that it is not our obligation to maintain the user base. Our job is to monetize it,” Shen said.
The company’s offerings are divided between telecommunications products and services, short message service (“SMS”) and multimedia messaging service (“MMS”) texting applications, big data insights and rich communication services (“RCS”).
FingerMotion’s big data analytics service operating through its Sapientus database led to an agreement with Pacific Life Re-insurance that will help Pacific Life enhance its insurance solutions and develop predictive information regarding its clients.
“We look to build strong forays into the insurtech space,” Shen said. “We believe other re-insurance companies will look to develop a similar model with us. By remaining non-exclusive and offering similar services to other companies in other insurance sectors we believe we have the potential to be the most disruptive technology in insurance today.”
The database could eventually lead FingerMotion to provide predictive services for other market sectors such as health care, financial services and consumer e-commerce applications.
China constitutes the largest e-commerce market with the largest mobile device user base in the world but Shen noted that once the company’s services are developed, it expects to expand its reach outside China as well.
Shen said the company expects to file its annual 10K report by the end of May.
For more information, visit the company’s website at www.FingerMotion.com.
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