The Belgian central bank confirmed the acquisition.
Equals’ revenues rose by 43% and the company expects to achieve the targets set for 2023.
Finance Magnates
Equals
(AIM: EQLS), a publicly-listed fintech company, issued two important updates
today (Wednesday). The first piece of information refers to the completion of the
acquisition of Oonex S.A., a full-service payment institution. The second
update summarized the trading results for the first half of 2023. H1 proved to
be a record-breaking period for Equals, with the company's revenues increasing 43%.
Equals Reports Record
Revenues
According
to the trading update for the period from January to June 2023, Equals'
revenues reached £45 million, significantly growing from £31.4 million which was reported in the same period last year. Revenues also increased compared to the
previous half-year (21%), from £38.3 million.
The report demonstrates
that Equals achieved positive growth in all key sectors of its operations. The
strongest performance was observed in the 'Solutions' sector, where
there was an appreciation of 116% compared to H1 2022, reaching £13.6 million, and
an increase of 46% compared to H2 2022.
"It is
very pleasing to be able to report half-year revenues for 2023 that exceed
those posted for the whole year in 2021. To have come so far in such a short
period of time is testament to the incredible efforts of everyone who works for
the Equals Group," Ian Strafford-Taylor, the CEO of Equals, commented on
the trading update.
The average
daily revenue of the company in the first half of the current year amounted to
£363,000, growing by 42% from £255,000 reported last year. The
management confirms that the financial results align with the forecasts for the
fiscal year 2023. Furthermore, the Adjusted EBITDA margins are expected to be
20%, even after the acquisition of Oonex.
Reacting to the news of the financial results and the acquisition of Oonex, Equals shares are up more than 3% today to £99, with year-to-date gains of almost 11%.
Source: Yahoo! Finance
Equals Completes the
Acquisition of Oonex
Before
publishing the trading update, the company issued a regulatory filing regarding
the completion of the acquisition of Oonex S.A. The National Bank of Belgium
(NBB) confirmed that it had no objections to the transaction, which was closed
on 4 July 2023.
The payment
for the acquisition is being made by issuing an initial batch of 3,938,294 ordinary
shares with a value of 1 pence each in Equals Group plc. Additional batches of
61,706 and up to 1,000,000 shares (subject to certain conditions) will be
issued within the next six months.
"We
are delighted that the NBB has confirmed that it had no objections to the
change of control for Oonex, so we can now commence growing the business in
Brussels as well as integrating it into the Equals technology platform,"
added Strafford-Taylor. He sees Oonex as a tremendous opportunity for Equals.
The
acquisition of Oonex and its regulatory licenses and banking relationships
enable Equals to introduce its payments to new European markets. Oonex's
ability to issue local IBAN numbers in the Eurozone significantly expands the
addressable market for the group's platform and products.
For Equals
it is another acquisition after the purchase of open banking startup Roqqett Limited
for £2.25 million back in November 2022.
Equals
(AIM: EQLS), a publicly-listed fintech company, issued two important updates
today (Wednesday). The first piece of information refers to the completion of the
acquisition of Oonex S.A., a full-service payment institution. The second
update summarized the trading results for the first half of 2023. H1 proved to
be a record-breaking period for Equals, with the company's revenues increasing 43%.
Equals Reports Record
Revenues
According
to the trading update for the period from January to June 2023, Equals'
revenues reached £45 million, significantly growing from £31.4 million which was reported in the same period last year. Revenues also increased compared to the
previous half-year (21%), from £38.3 million.
The report demonstrates
that Equals achieved positive growth in all key sectors of its operations. The
strongest performance was observed in the 'Solutions' sector, where
there was an appreciation of 116% compared to H1 2022, reaching £13.6 million, and
an increase of 46% compared to H2 2022.
"It is
very pleasing to be able to report half-year revenues for 2023 that exceed
those posted for the whole year in 2021. To have come so far in such a short
period of time is testament to the incredible efforts of everyone who works for
the Equals Group," Ian Strafford-Taylor, the CEO of Equals, commented on
the trading update.
The average
daily revenue of the company in the first half of the current year amounted to
£363,000, growing by 42% from £255,000 reported last year. The
management confirms that the financial results align with the forecasts for the
fiscal year 2023. Furthermore, the Adjusted EBITDA margins are expected to be
20%, even after the acquisition of Oonex.
Reacting to the news of the financial results and the acquisition of Oonex, Equals shares are up more than 3% today to £99, with year-to-date gains of almost 11%.
Source: Yahoo! Finance
Equals Completes the
Acquisition of Oonex
Before
publishing the trading update, the company issued a regulatory filing regarding
the completion of the acquisition of Oonex S.A. The National Bank of Belgium
(NBB) confirmed that it had no objections to the transaction, which was closed
on 4 July 2023.
The payment
for the acquisition is being made by issuing an initial batch of 3,938,294 ordinary
shares with a value of 1 pence each in Equals Group plc. Additional batches of
61,706 and up to 1,000,000 shares (subject to certain conditions) will be
issued within the next six months.
"We
are delighted that the NBB has confirmed that it had no objections to the
change of control for Oonex, so we can now commence growing the business in
Brussels as well as integrating it into the Equals technology platform,"
added Strafford-Taylor. He sees Oonex as a tremendous opportunity for Equals.
The
acquisition of Oonex and its regulatory licenses and banking relationships
enable Equals to introduce its payments to new European markets. Oonex's
ability to issue local IBAN numbers in the Eurozone significantly expands the
addressable market for the group's platform and products.
For Equals
it is another acquisition after the purchase of open banking startup Roqqett Limited
for £2.25 million back in November 2022.
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
United Fintech Scores Sixth Backer Days After Barclays Deal
Executive Interview | Charlotte Bullock | Chief Product Officer, Bank of London | FMLS:25
Executive Interview | Charlotte Bullock | Chief Product Officer, Bank of London | FMLS:25
In this interview, we sat down with Charlotte Bullock, Head of Product at The Bank of London, previously at SAP and now shaping product at one of the sector’s most ambitious new banking players.
Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
In this interview, we sat down with Charlotte Bullock, Head of Product at The Bank of London, previously at SAP and now shaping product at one of the sector’s most ambitious new banking players.
Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
