2 exciting small cap ASX shares for your watchlist // Motley Fool Australia

As well as being home to countless blue chip shares, the Australian share market is home to a good number of promising small caps.

Two small cap shares that could be deserving of a spot on your watchlist are listed below. Here’s what you need to know about them:

MNF Group is a leading provider of Voice over Internet Protocol (VoIP) technology to businesses and consumers. This technology essentially allows telephone calls to be made over the internet. Due to the NBN rollout and the work from home initiative, demand for MNF’s VoIP services has been growing strongly this year. This led to the company recording a 27% increase in recurring revenue to $101.5 million in FY 2020.

Another positive was that it reported a 17% increase in…