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Fobi AI - CEO, Rob Anson.
CEO, Rob Anson.
Source: Fobi AI.
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  • Fobi AI (FOBI) has completed its acquisition of PassWallet from Quicket GmbH
  • Fobi also announced a significant increase in downloads of the PassWallet app from 6 million to 7.28 million downloads since Fobi’s October 7th acquisition announcement
  • Fobi paid an aggregate of €888,000 to Quicket GmbH consisting of €355,200 in cash and 301,480 shares
  • PassWallet is the first app specializing in enabling Android users to store, organize and update Wallet passes
  • Fobi is a data intelligence company that helps clients turn real-time data into actionable insights and personalized customer engagement to generate increased profits
  • Fobi AI Inc. (FOBI) opened trading at C$1.80 per share

Fobi AI (FOBI) has completed its acquisition of PassWallet from Quicket GmbH.

Fobi also announced a significant increase in downloads of the PassWallet app from 6 million to 7.28 million downloads since Fobi’s announcement dated October 7th.

The countries that saw the biggest increases in downloads were in Europe, with Spain, Germany, UK, Romania and Bulgaria all seeing large increases.

Fobi CEO Rob Anson commented on the benefits of PassWallet.

“The landscape is shifting to contactless, cashless and mobile first operations and as a result we are witnessing accelerated growth in the mobile wallet pass sector due to the digital transformation that is ongoing. The mobile wallet provides a convenient, secure way to streamline operations and deliver enhanced levels of personalized engagement directly to users, and even to their mobile phone’s lock screen. As a result, the dynamic functionality of the wallet is transforming our daily lives, and we are very optimistic as to continued growth in both downloads and monthly users.”

A recent Imarc report forecasts the mobile wallet market will grow at a compound annual growth rate (CAGR) of 20 per cent from 2021-2026.

Fobi paid an aggregate of €888,000 to Quicket GmbH consisting of €355,200 in cash and 301,480 shares of Fobi.

PassWallet is the first app specializing in enabling Android users to store, organize and update Wallet passes. PassWallet can service all types of passes, including boarding passes, transport cards, passes to the movies, theatres, concerts, museums, festivals, stadiums, loyalty cards, vouchers and retail discount coupons.

Fobi is a data intelligence company that helps clients turn real-time data into actionable insights and personalized customer engagement to generate increased profits.

Fobi AI Inc. (FOBI) opened trading at C$1.80 per share.

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