Company: EGG
Filing Date: 2025-04-24
Form Type: F-1/A
Source: 0001641172-25-005939
Chunk: 103

Company: ENIGMATIG LTD
Filing Date: 2025-04-24
Form: F-1/A
Chunk 103
---
 scenarios for regtech solutions, the amount of venture capital investment directed towards regtech, and the partnerships between regtech companies and businesses/regulators.

Competitive Landscape of the Global and APAC Fintech and Regtech Market

According to the Frost & Sullivan report, the global and APAC fintech and regtech markets are fragmented and highly competitive. Participants in the fintech market include established financial institutions, technology firms, and innovative startups. Established financial institutions, including traditional banks and financial services companies, have been investing in digital transformation to compete with fintech startups. They leverage their existing customer bases, brand recognition, and regulatory expertise to develop and offer digital financial products and services. Technology firms utilize their vast user base, technological prowess, and data analytics capabilities to expand in the fintech market. Innovative startups typically focus on specific niches in the financial market, offering innovative solutions and upgrading traditional financial services. According to the Frost & Sullivan report, in 2024, there were over 350 global fintech unicorns, or privately held startup companies valued at over USD1 billion, illustrating that the market is active and developing rapidly. Similar to the fintech market, participants within the regtech market include established financial institutions, technology companies, specialized regtech firms, and regulatory bodies. The key success factors in the fintech and regtech market include experienced professionals, innovative product design, comprehensive service types and strength of security and compliance capabilities.

| 61 |

<div align='center'>BUSINESS</div>

Overview

We are an international consultancy firm providing one-stop cross-border licensing solutions and related services. Our services range from assisting clients incorporate companies in overseas jurisdictions and related corporate secretarial services to a wide range of licensing and regulatory maintenance services.

Our
corporate services income is mainly generated from fees we receive assisting our clients obtain, renew and comply with a range of
business licenses (primarily including brokerage licenses and other financial licenses) in a variety of jurisdictions (primarily in
London, Cyprus and Belize). In Fiscal 2022, Fiscal 2023 and Fiscal 2024, corporate services income from our licensing
services, together with related regulatory consultancy services was US$2,386,085, US$3,201,761 and US$2,128,485,
respectively, accounting for 84.6%, 69.5% and 53.6%, respectively, of our corporate services income for those periods. The
remainder of our corporate services income is derived from a wide range of corporate secretarial and