Fintech
Torrent Capital Achieves Record Year in 2020
Halifax, Nova Scotia–(Newsfile Corp. – April 19, 2021) – Torrent Capital Ltd. (TSXV: TORR) (“Torrent” or the “Company“) is pleased to report another year of strong growth. The Company released 2020 year-end financial results showing a record Net Asset Value (“NAV”) per share of $1.06. This represents a 76% year-over-year (“YoY”) increase from a NAV of $0.60 per share on December 31, 2019. Since Torrent’s launch as an investment issuer on June 30, 2017, the Company has achieved a cumulative return of 319%, representing an average annualized rate of return of 50%. For comparison, the average annualized return during the same period for the S&P/TSX Small Cap index was 1.4% and the S&P 500 was 13.1%.
Realized gains on investments were $7,244,237 during 2020, compared to $1,020,140 in 2019, representing a YoY increase of 610%. Unrealized gains on investments were $7,312,662 as of year-end 2020, a 100% YoY increase compared to the $3,656,421 unrealized gains as at December 31, 2019.
| Trailing Return | Torrent Capital | TSX SmallCap Index | S&P 500 |
| 12 Month | 76% | 10.0% | 15.5% |
| 24 Month | 142% | 24.1% | 48.9% |
| 36 Month | 223% | -0.8% | 39.6% |
| Net Return (year over year) | |||
| 2020 | 76% | 10.0% | 15.5% |
| 2019 | 38% | 12.8% | 28.9% |
| 2018 | 33% | -20.1% | -6.2% |
| 2017* | 30% | 5.9% | 10.3% |
| Since Inception | |||
| Cumulative Return | 319% | 5.1% | 54% |
| Compound Annual Return | 50% | 1.4% | 13.1% |
*6 month period from the date the Company was fully invested on June 30, 2017.
During 2020, Torrent repositioned its portfolio to include investments in the renewable energy and clean technology sector. As the world transitions to a greener economy, Torrent’s strategy has expanded to identify companies and technologies that will capitalize on these global trends. Investments in this sector and gains on other core holdings such as Wildbrain Ltd., kneat.com, Inc. and Sona Nanotech Inc contributed to Torrent’s performance metrics through the year.
Torrent’s flexible mandate allows it to create and manage a diversified portfolio of investments across multiple sectors and the Company’s investment horizon includes a mix of short, medium and longer-term positions. Torrent invests primarily in small cap issuers listed in Canada and it actively seeks opportunities in the following categories:
- Revenue generating software and leading-edge technology;
- Green technology, clean energy or ESG related;
- Turnaround opportunities with potential catalysts or renewed focus;
- Roll-ups and consolidations of fragmented industries; and
- Resource companies focused on metals critical to clean energy supply chains.
Torrent seeks to identify investment candidates that are undervalued or unappreciated by the market relative to their long-term growth potential. Through due diligence and analysis of select opportunities, the objective is to identify high-growth companies with potential for outsized returns.
“Torrent’s portfolio of investments achieved substantial returns for shareholders in 2020, and significantly outperformed all benchmark indices. Despite the global pandemic and volatile market conditions through the year, our investment team excelled at delivering on a high growth investment strategy. We continue to research new investment opportunities with a focus on the clean technology space and we are confident in our positioning for future returns. I look forward to reporting on our progress through 2021 and beyond,” stated Wade Dawe, President & CEO of Torrent.
The Company has issued 200,000 restricted share units under the Company’s Restricted Share Unit Plan (“RSU Plan”) to directors and officers. Each RSU will vest immediately; all other terms and conditions of the RSU’s are in accordance with the terms of the Company’s RSU Plan.
About Torrent Capital
Torrent is a publicly traded investment issuer that invests in the securities of private and publicly traded companies. The Company invests in companies that are due to experience accelerated growth or are trading at a discount to their intrinsic value. Torrent offers investors the potential to earn above market returns while providing transparency, daily liquidity and a modest fee profile compared to competing investment products. Currently, the Company is actively researching investment opportunities in the clean technology sector.
For further information, please contact:
Scott Gardner
Chief Investment Officer
(647) 446-7474
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This press release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Torrent disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. The reader is referred the Company’s annual financial reporting for a discussion of risks and uncertainties.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
As we close out 2024, the fintech industry continues to deliver headlines that underscore its dynamism and innovation. From IPO aspirations to groundbreaking regulatory milestones, today’s updates highlight the transformative power of fintech partnerships, regulatory evolution, and disruptive technologies. Here’s what you need to know.
Chime’s Quiet Step Toward Public Markets
Chime, the U.S.-based financial technology startup best known for its digital banking services, has taken a significant step by filing confidential paperwork for an initial public offering (IPO). As one of the most valuable private fintechs in the U.S., Chime’s move could potentially signal a renewed appetite for fintech IPOs in a market that has been cautious following fluctuating valuations across the tech sector.
With a valuation that reportedly exceeded $25 billion in its last funding round, Chime’s IPO could set a new benchmark for the industry. Observers note that its strong customer base and revenue growth may make it an appealing choice for investors seeking to capitalize on the digital banking boom. However, the timing and success of the IPO will depend on broader market conditions and the regulatory landscape.
Source: Bloomberg
ZBD’s Pioneering Achievement: EU MiCA License Approval
ZBD, a fintech company specializing in Bitcoin Lightning network solutions, has made history by becoming the first to secure an EU MiCA (Markets in Crypto-Assets Regulation) license. This landmark approval by the Dutch regulator positions ZBD at the forefront of compliant crypto-fintech operations in Europe.
MiCA, which aims to harmonize the regulatory framework for crypto-assets across the EU, has been a focal point for industry players aiming to establish legitimacy and expand their offerings. ZBD’s achievement not only validates its operational rigor but also sets a precedent for other fintech firms navigating the evolving regulatory landscape.
Industry insiders view this as a strategic advantage for ZBD as it broadens its footprint in Europe. By leveraging its regulatory approval, the company can accelerate its product deployment and establish trust with institutional and retail users alike.
Source: Coindesk, PR Newswire
The Fintech-Credit Union Synergy: A Blueprint for Innovation
The convergence of fintechs and credit unions continues to reshape the financial services ecosystem. Collaborative initiatives, such as the one highlighted in the recent partnership between fintech innovators and credit unions, are proving to be a potent force in delivering tailored financial solutions.
This “dream team” approach allows credit unions to leverage fintech’s technological expertise while maintaining their community-focused ethos. Key areas of collaboration include digital payments, personalized financial management tools, and enhanced loan processing capabilities. These partnerships not only enhance member engagement but also enable credit unions to remain competitive in an increasingly digital-first financial environment.
Industry analysts emphasize that such collaborations underscore a broader trend of traditional financial institutions embracing fintech-driven solutions to bridge service gaps and foster innovation.
Source: PYMNTS
Tackling Student Loan Debt: A Fintech’s Mission
Student loan debt remains a pressing issue for millions of Americans, and a Rochester-based fintech aims to offer relief through its cloud-based platform. This innovative solution is designed to simplify loan management and provide borrowers with actionable insights to reduce their debt burden.
The platform’s features include repayment optimization tools, personalized financial education, and seamless integration with loan servicers. By addressing the complexities of student loan management, this fintech is empowering borrowers to make informed decisions and achieve financial stability.
As the student loan crisis continues to evolve, solutions like this highlight the critical role fintech can play in addressing systemic financial challenges while fostering financial literacy and inclusion.
Source: RBJ
Industry Implications and Takeaways
Today’s updates underscore several key themes shaping the fintech landscape:
- Regulatory Milestones: ZBD’s MiCA license approval exemplifies the importance of regulatory compliance in unlocking growth opportunities.
- Strategic Partnerships: The collaboration between fintechs and credit unions demonstrates the value of combining technological innovation with traditional financial models to drive customer-centric solutions.
- Market Opportunities: Chime’s IPO move reflects a potential revival in fintech public offerings, signaling confidence in the sector’s long-term prospects.
- Social Impact: Fintech’s ability to tackle systemic issues, such as student loan debt, showcases its role as a force for positive change.
The post Fintech Pulse: Your Daily Industry Brief (Chime, ZBD, MiCA) appeared first on News, Events, Advertising Options.
Leading global payments platform SPAYZ.io has confirmed it will be attending iFX EXPO Dubai 2025 on 14 to 16 January. Exhibiting at Stand 64 at Trade Centre Dubai, SPAYZ.io’s team of professionals will be on hand providing live demonstrations of its renowned payment services for payment providers. Attendees will also receive exclusive insight into SPAYZ.io’s plans for 2025 alongside early early access to its upcoming plans for the new year.
SPAYZ.io delivers a host of payment solutions that leverage the latest technological innovations and open access to the fastest growing emerging markets across Africa, Europe and Asia. Over the past year, there has been huge demand for its Open Banking and local payment method services, alongside bank transfers, mass payouts, online banking and e-wallets.
Yana Thakurta, Head of Business Development at SPAYZ.io commented: “We look forward to once again participating at iFX Dubai to expand our network of partners and clients. It’s a fantastic way to kick off the year, connecting with thousands of industry leaders from FOREX platforms to trading companies, and everything in between.
“Our key goal for iFX Dubai EXPO 2025 is to expand our portfolio of solutions and geographies. We’re using this as an opportunity to partner with like-minded entities who share our ambition to provide payment solutions that are truly global.”
Come meet SPAYZ.io’s team at the Trade Centre Dubai at Stand 64. You can also book a meeting slot with a member of a team.
The post SPAYZ.io prepares for iFX EXPO Dubai 2025 appeared first on News, Events, Advertising Options.
Airtm, the most connected digital dollar account in the world, is proud to announce the addition of two distinguished industry leaders to its Board of Directors: Rafael de la Vega, Global SVP of Partnerships at Auctane, and Shivani Siroya, CEO & Founder of Tala. These appointments reflect Airtm’s commitment to innovation and financial inclusion as the company enters its next phase of growth.
“We are thrilled to welcome Rafael and Shivani to Airtm’s Board of Directors,” said Ruben Galindo Steckel, Co-founder and CEO of Airtm. “Their unique perspectives and proven track records will be invaluable as we continue scaling our platform to empower individuals and businesses in emerging markets. Together, we’ll push the boundaries of financial inclusion and innovation to create a more connected and equitable global economy. Rafael and Shivani bring a wealth of experience and strategic insight that will strengthen Airtm’s mission to connect emerging economies with the global market.”
Rafael de la Vega, a seasoned leader in fintech global partnerships and technology innovation, is currently the Global SVP of Partnerships at Auctane. With a proven track record of delivering scalable, impactful solutions at the intersection of fintech, innovation, and commerce, Rafael’s expertise will be pivotal as Airtm continues to grow. “Airtm has built a platform that breaks down barriers and opens up opportunities for people in emerging economies to connect to global markets. I am excited to contribute to its growth and help further its mission of fostering financial inclusion on a global scale,” said Rafael.
Shivani Siroya, CEO and Founder of Tala, is a pioneer in financial technology, renowned for empowering underserved communities through access to credit and essential financial tools. Her leadership in leveraging data-driven innovation aligns seamlessly with Airtm’s vision of creating more equitable financial opportunities. “Empowering underserved communities has always been at the core of my work, and Airtm’s mission resonates deeply with me. I’m thrilled to join the Board and work alongside such a dynamic team to expand access to financial tools that truly make a difference in people’s lives,” said Shivani.
The post Airtm Enhances Its Board of Directors with Two Strategic Appointments appeared first on News, Events, Advertising Options.
-
Fintech6 days agoFintech Pulse: Your Daily Industry Brief (Chime, ZBD, MiCA)
-
Fintech PR5 days agoAccording to Tickmill survey, 3 in 10 Britons in economic difficulty: Purchasing power down 41% since 2004
-
Fintech7 days agoSPAYZ.io prepares for iFX EXPO Dubai 2025
-
Fintech7 days agoAirtm Enhances Its Board of Directors with Two Strategic Appointments
-
Fintech PR5 days agoPresident Emmerson Mnangagwa met this week with Zambia’s former Vice President and Special Envoy Enoch Kavindele to discuss SADC’s candidate for the AfDB
-
Fintech PR3 days agoGCL Energy Technology and Ant Digital Technologies Launch First Blockchain-Based RWA Project in Photovoltaic Industry
-
Fintech PR5 days agoStay Cyber Safe This Holiday Season: Heimdal’s Checklist for Business Security
-
Fintech PR6 days agoMedicilon Appoints Dr. Lilly Xu as Chief Technology Officer