Equity Analyst, LightStream Research

Shifara Samsudeen, ACMA, CGMA

Equity Analyst

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

Private Capital Markets

<ul>
<li>Naver Z Corporation, a subsidiary of NAVER Corporation, focuses on developing VR and AR technologies. The company can be regarded as one of the promising players in the Metaverse market.</li>
<li>The company's flagship product, ZEPETO, has become particularly popular among younger users and has been downloaded over 300 million times worldwide.</li>
<li>
<a href="https://www.smartkarma.com/entities/naver-z" target="_blank" data-smartkarma-citation="entities:36882:1" rel="noopener">Naver Z (1838597D KS)</a> 's VR and AR technologies have a variety of use cases, and the company has worked with businesses and brands in a variety of industries.</li>
</ul>


Naver Z Corporation, a subsidiary of NAVER Corporation, focuses on developing VR and AR technologies. The company can be regarded as one of the promising players in the Metaverse market.
The company's flagship product, ZEPETO, has become particularly popular among younger users and has been downloaded over 300 million times worldwide.

Naver Z (1838597D KS) 's VR and AR technologies have a variety of use cases, and the company has worked with businesses and brands in a variety of industries.


NAVER Z: Owner of The Fastest Growing Avatar Platform Zepeto

<ul>
<li>
<a href="https://www.smartkarma.com/entities/identitymind-global-inc" target="_blank" data-smartkarma-citation="entities:35960:1" rel="noopener">IdentityMind (1254693D US)</a> has a SaaS platform which builds regulatory technologies for fintech companies, crypto trading platforms and ICOs.</li>
<li>Fraud is prevalent in the ICO market and the rise of regulations increasing demand for KYC/AML services will drive the company’s future growth.</li>
<li>IdentityMind was acquired by Acuant (an identity verification company) in April 2020, for an undisclosed amount.</li>
</ul>



IdentityMind (1254693D US) has a SaaS platform which builds regulatory technologies for fintech companies, crypto trading platforms and ICOs.
Fraud is prevalent in the ICO market and the rise of regulations increasing demand for KYC/AML services will drive the company’s future growth.
IdentityMind was acquired by Acuant (an identity verification company) in April 2020, for an undisclosed amount.


<ul>
<li>
<a href="https://www.smartkarma.com/entities/shufti-pro-limited" target="_blank" data-smartkarma-citation="entities:35957:1" rel="noopener">Shufti Pro (1988739D LN)</a> provides AI-based identification verification solutions offering real-time global identity verification for KYC/AML and KYB compliance.</li>
<li>In 2020, the company grew its revenue by over 100% due to strong adoption skills and flexibility allowing to capture the growth in demand due to the COVID-19 pandemic.</li>
<li>While flexibility helps Shufti Pro stand out from competitors, global expansions, growth in identity fraud and a number of strong partnerships would drive company revenues over the medium-term.</li>
</ul>



Shufti Pro (1988739D LN) provides AI-based identification verification solutions offering real-time global identity verification for KYC/AML and KYB compliance.
In 2020, the company grew its revenue by over 100% due to strong adoption skills and flexibility allowing to capture the growth in demand due to the COVID-19 pandemic.
While flexibility helps Shufti Pro stand out from competitors, global expansions, growth in identity fraud and a number of strong partnerships would drive company revenues over the medium-term.


Shufti Pro: Identity Verification Using AI

Hummingbird Technologies / Private Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/hummingbird-technologies-ltd" target="_blank" data-smartkarma-citation="entities:35956:1" rel="noopener">Hummingbird Technologies (1681343D LN)</a> allows companies without easy access to IT or engineering resources carry out anti-money laundering practices.</li>
<li>Unmet demand in the AML market, strong partnerships and expansion to new markets are expected to act as key drivers.  </li>
<li>The company claims to allow clients reduce investigation and reporting times by 70-90%.</li>
</ul>



Hummingbird Technologies (1681343D LN) allows companies without easy access to IT or engineering resources carry out anti-money laundering practices.
Unmet demand in the AML market, strong partnerships and expansion to new markets are expected to act as key drivers.  
The company claims to allow clients reduce investigation and reporting times by 70-90%.


Hummingbird: A Modern RegTech Platform Not Requiring an Integration

<ul>
<li>
<a href="https://www.smartkarma.com/entities/sift-science-inc" target="_blank" data-smartkarma-citation="entities:35958:1" rel="noopener">Sift Science (0747031D US)</a> uses machine learning to help companies with detecting fraud, fake accounts and money laundering.  </li>
<li>The company’s business is claimed to have tripled since 2018.</li>
<li>The growth of internet crime and increasing account takeover fraud will act as drivers for the company.</li>
</ul>



Sift Science (0747031D US) uses machine learning to help companies with detecting fraud, fake accounts and money laundering.  
The company’s business is claimed to have tripled since 2018.
The growth of internet crime and increasing account takeover fraud will act as drivers for the company.


United States

Ayasdi Inc. offers exploratory analytics software. The Company specialize in analysis and visualization of large structured and unstructured datasets.

Ayasdi (0343503Z US)

NAVER Z: Owner of The Fastest Growing Avatar Platform Zepeto

With a valuation of more than $1.0bn, Naver Z focuses on developing VR and AR technologies. Its flagship product ZEPETO has become popular among...

Shifara Samsudeen, ACMA, CGMA

IdentityMind: AML and KYC for Fintech

IdentityMind has a SaaS platform which builds regulatory technologies for fintech companies, crypto trading platforms and ICOs. Fraud is prevalent...

Shifara Samsudeen, ACMA, CGMA

Shufti Pro: Identity Verification Using AI

Shufti Pro provides AI-based identification verification solutions. Flexible and timely solutions have helped Shufti stand out from competitors....

Shifara Samsudeen, ACMA, CGMA

Hummingbird: A Modern RegTech Platform Not Requiring an Integration

Hummingbird is the only platform that allows companies without easy access to IT or engineering resources carry out anti-money laundering...

Shifara Samsudeen, ACMA, CGMA

Sift: Machine Learning to Prevent Fraud

Sift uses machine learning to help companies with detecting fraud, fake accounts and money laundering. Its large client base and a global data...

Shifara Samsudeen, ACMA, CGMA