Codeifai to expand ConnectQR reach by 180 million users with Canva apps marketplace integration

Brand solution technology group Codeifai (ASX: CDE) has announced the strategic integration of its ConnectQR code generation and management platform into the Canva apps marketplace.

The integration is expected to boost ConnectQR’s reach by allowing Canva users to seamlessly incorporate its dynamic and static artificial intelligence-powered Quick Response (QR) codes into their designs.

The deal is considered to be the most important milestone in ConnectQR’s development since its commercial launch in April, making it accessible to 180 million monthly active Canva users worldwide.

Individualised QR codes

Users will be able to import individualised ConnectQR codes directly into their creative projects and automatically display all codes within Canva to streamline the design process.

The platform supports more sophisticated and customised QR applications and is expected to act as an inbound sales magnet for Codeifai’s ProtectCode and BrandReporter products.

Codeifai (which changed its name this month from YPB Group) confirmed there would be no immediate revenue associated with the integration.

However, it is expected to prove a key element of the company’s growth plan in light of the global market opportunity, self-serve software-as-a-service model and high incremental profitability.

‘Significant achievement’

Codeifai chief executive officer John Houston said the integration was a significant achievement.

“This deal is a milestone which greatly broadens our reach and enhances credibility and market access for our entire product range,” he said.

“It is likely to prove an important step in driving our revenues and future financial performance.”

Share placement

Codeifai has completed a two-stage $600,000 share placement to current shareholders and new sophisticated investors.

The first tranche will see the company issue 333.3 million fully paid ordinary shares priced at $0.0015 each plus 333.3 million free attaching options at an exercise price of $0.003 and a 30-month expiry from a date to be determined on shareholder approval.

The second will involve the issuance of 66.6 million shares at the same price to members of the board and management team plus the equivalent amount in free attaching options on the same terms.

Proceeds will be used to fund the company’s technical development efforts and for general working capital, including marketing activities.