Indigo Holdings plc, the Middle East focused Investment Company that provides investors with exposure to early stage businesses, has announced the Company’s interim results for the six month period to 30 June 2017.
A summary of the Company’s investments since its flotation on the NEX Exchange Growth Market in February 2017, having raised a total of £818,468 (after expenses), are as follows:
Post listing, the Company has made four acquisitions as follows:
As announced on 12 October 2017, the Company invested £10,000 (€11,146) in 3sootjobs (“3sootjobs”). 3sootjobs aims to become Iran’s leading job-search platform by revolutionising Iran’s job-search market by creating and introducing a smart, fast and easy-to-use app that will allow job seekers and employers to instantly search, connect, and get hired, all through a swipe.
3sootjobs has raised €125,000 at a post money valuation of €725,000. After the investment of €11,146, Indigo has a 1.53%% holding in 3sootjobs.
As announced in April 2017, Indigo invested IRR 10,000,000,000 (Ten billion Rial), approximately £200,000, in Iranian Fast Moving Consumer Goods Ltd (“FMCG”), the recently established online retail delivery business of Yaran Daryan, the Iranian convenience store chain. Indigo has acquired a 15% equity stake in FMCG at a post-money valuation of approximately £1,330,000, with Yaran Daryan owning a 60% equity stake in FMCG.
As announced on 8 March 2017, Indigo invested €375,587 (approximately £320,000) by way of an interest free loan into Net Tejarat Ahoura Company, an Iranian registered company (“Sheypoor”), a leading Iranian online classifieds marketplace, to acquire a 1.09% stake in Sheypoor. Indigo invested in Sheypoor’s Series D Fundraising. That round of funding valued Sheypoor at approximately €34,000,000 (approximately £29,000,000).
In February 2017, Indigo also announced it had acquired a 5% stake in the Iranian car ride-sharing app, Carvanro, after investing €176,800 in its Series A fundraising round.
Carvanro is a car ride-sharing marketplace aggregator, which connects drivers and passengers embarking on the same car journeys. It provides a flexible and transparent platform for passengers, whilst at the same time providing a reliable source of payment for drivers who wish to share their journeys in order to reduce costs. The app launched in mid – 2016 and month-on-month figures for website traffic, registered users, and completed rides are all showing strong growth trends.
We remain very optimistic about the strategy of the company and the pipeline of deals we see ahead.
The financial statements have not been reviewed by the Company auditors.
The Directors of the Company accept responsibility for the content of this announcement.