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Antworks Money, an Indian Neo Banking Platform has signed an Agreement with Swedish Software company Vopy, which supplies technology for embedded finance solutions. The agreement means that the partners together will build an embedded finance platform for the Indian business community. The potential for the platform is 10s of millions of users within a few years. Previously, the parties signed an MoU (Memorandum of Understanding) but now agree on a full partnership. The agreement is an important milestone for Copy and means a rapid launch of Copy services in the very attractive Indian market.
The project plan has been laid and the launch of the platform will take place in August 2023. Copy then expects a significant revenue impact. Copies revenue model from the new platform consists of, among other things, monthly fees per user and part of net interest income when lending.
We are very pleased that this important first step is finalized. Now we have full focus on completing the technical work of integrating our respective environments in order to be able to start receiving our first customers as early as August. We are already seeing great interest in Antworks Money’s existing business network, where several initial customer acquisitions have already begun.”, says Sven Hattenhauer, CEO of Copy AB.
