Freja eID Group Planting the seeds for sales growth
Freja eID has built a strong platform and we are encouraged by early uptake metrics such as a 100k users expanding by 285% YOY and 252 relying parties showing 61% YOY growth. We also recognise that it still has a lot of work to do to demonstrate monetisation of the ecosystem, but Freja eID appears to have the right balance of user simplicity and capabilities. We forecast a 76% sales CAGR to 2023e and have lifted our fair value to SEK75–125 (50–100).Verisec AB is a Sweden-based company which provides security solutions for banking, government and business customers.
DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.
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