FingerMotion, Inc. (Nasdaq: FNGR) Receives $4 Million Investment From The Lind Partners To Assist With Hi

FingerMotion Inc. (NASDAQ:FNGR) closed a $4 million funding agreement with Lind Global Fund II LP, an investment fund managed by The Lind Partners.

FingerMotion focuses on mobile payment and recharge platform solutions in China, with plans to expand into other regional markets. The Lind Partners are leaders in providing growth capital to small- and mid-cap companies publicly traded in the U.S., Canada, Australia and the U.K.

The investment from Lind Partners is in the form of a securities purchase agreement. Lind Partners purchased a $4.8 million senior convertible note and common stock purchase warrant from FingerMotion. This translates to Lind Partners acquiring up to 3,478,261 shares of common stock in FingerMotion.

The investment from Lind Partners will prove advantageous for FingerMotion’s highest priority initiative currently in development: the full-scale nationwide rollout of its mobile-device protection business in China. Currently, mobile-device protection in China is limited to cracked screens, but FingerMotion expanded protection plans to include vital components as well as trade-in programs. FingerMotion’s focus on customer experience in a competitive market is one aspect that it says sets it apart from the crowd. Its dedication to expanding protection seeks to provide users with more freedom, protection and flexibility with their mobile plans.

FingerMotion CEO Martin Shen said he expects this initiative to have the highest return on investment in the shortest amount of time, increasing the company’s revenue and bottom line over the next 12 to 24 months. The total mobile protection product market in China can be estimated to be worth approximately $10.6 billion annually. If successful, FingerMotion can position itself as a leader in the mobile-device protection market, in addition to its other successful initiatives.

FingerMotion is one of the few companies in China with access to wholesale rechargeable minutes from some of the country’s largest mobile phone providers, like China Mobile, that can be resold to consumers. The company says it aspires to serve 1 billion users in China.

FingerMotion is strategically positioned to expand into other Asian-Pacific markets. Its existing partnerships with the largest Chinese telecommunication companies and its ability to become a leading provider of mobile payment and recharge platform solutions in one of the largest global mobile markets can allow for extensive growth opportunities.

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Featured photo by Firmbee.com on Unsplash

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FingerMotion, Inc. (Nasdaq: FNGR) Receives $4 Million Investment From The Lind Partners To Assist With High-Growth Opportunities