MOMT Added to Tailwinds Select Portfolio

MoneyonMobile (ticker MOMT) has been added to the Tailwinds Select Portfolio. This company is the largest mobile payment platform in India and has been growing like a weed all year. Actually, I’m not sure weeds can even match the pace of MOMT, which has seen revenue go up 17% month over month sequentially for all of 2017!

We will be putting out a longer note on MOMT soon, but here are some of the highlights.

  1. In a country with over 600 million people not having bank accounts, MOMT has a huge opportunity to help them transition away from a purely cash economy to the digital age. Already, over 200 million phones have been used on MoneyonMobile’s platform. They are averaging 7 million unique users per month at present.
  2. They are in over 350,000 locations that accept cash deposits. Which makes them much more ubiquitous than banks, which have only 200,000 ATMs in the whole country.
  3. They are converting to a virtual ATM network. Over 3,000 locations have converted and revenue pops 172% when this happens. Expect the number of MOM ATMs (as they call them) to increase dramatically.
  4. The company should go cash flow positive early next year.
  5. The management and board are very seasoned professionals in the mobile payment industry.

We are big fans of MOMT and think this Company has a long runway in front of them.

Simultaneously to adding MOMT to the Tailwinds Select Portfolio, we have removed both DYAI and POLA. Here are our thoughts behind these moves.

First, I’ve made a decision to only have 15 names in the portfolio, so we needed to drop two. If this weren’t the case, I would have kept them both. However, two needed to go and these were the two most likely candidates. Here’s why.

  1. DYAI is a value play with upside. Huge upside, but tough to quantify when and if it will be successful. Meanwhile, value plays just don’t resonate too strongly with Tailwinds investors or with our strategy. Therefore, while we LOVE the risk/reward here, it just felt like it was not a great fit
  2. POLA has continually missed forecasts and is really a tail being wagged by the big dogs in the cellular industry, VZ and T. While the business appears to be ready to launch, it’s tough to get comfort with the long term business prospects and margins seem like they could always be under pressure as there is a very minimal (if any) moat around this business. I think the stock could do very well here in the next 6-12 months, but it’s not a favorite name for the long-term and I see more upside elsewhere…so it had to go to make room.

As always, if anyone has any questions about any of the companies in the Tailwinds Select Portfolio, don’t hesitate to reach out to me.

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