Although the revenue rose, net income fell by 30% compared to last year.
The company expects to meet full-year revenue targets but anticipates some EBITDA pressure.
London's skyline; Source: Wikimedia Commons
The publicly-listed
fintech company from London, Fintel (AIM: FNTL), announced financial results
for the first half of 2024 today (Tuesday), marked by strategic acquisitions
and organic growth. Despite a rebound in revenue and EBITDA, net profit fell by
over 30% to £2.3 million from the £3.4 million reported the previous year.
Fintel Reports Strong
First Half 2024
The company
reported a 13% increase in core revenue to £31.2 million for the six months
ended June 30, compared to £27.6 million in the same period last year. Core
adjusted EBITDA rose 5% to £9.3 million, while the adjusted EBITDA margin
slightly decreased to 26.8% from 28.3% in the first half of 2023.
Matt Timmins, Joint CEO of Fintel
Fintel's
SaaS and subscription revenue, a key focus area for the company, grew 6% to £20
million, representing 65% of core revenue.
“With
our strategic foundations firmly in place, we are strongly positioned to
capitalize on the growth opportunities across our extensive family of brands,
underpinned by the strength of our balance sheet,” commented Matt Timmins, Joint CEO
of Fintel.
In January, the company disclosed its results for the entire 2023. Adjusted EBITDA increased by 6% to £20.5 million, up from £19.4 million in 2022. Excluding mortgage brokerage and surveying services, the company's core revenue rose by 0.3% to £56.6 million.
Expansion Through
Acquisitions
In
addition, the company completed four acquisitions year-to-date, bringing the
total to eight in the last twelve months. Notable acquisitions include
Threesixty Services, a provider of compliance and business support services,
and Synaptic Software, an independent provider of financial adviser planning
and research software.
“Completing
four acquisitions year-to-date, totaling eight in the last twelve months, we
have significantly enhanced our scale, capabilities and IP, whilst accelerating
investment into our core propositions and technology offering,” added Timmins.
Source: Fintel
Despite the
robust top-line growth, Fintel's cash position decreased to £7.4 million from
£13.3 million in the first half of 2023, primarily due to £6.4 million deployed
for strategic acquisitions and approximately £2.5 million invested in product
development.
Looking
ahead, Fintel expects to meet its full-year revenue expectations, citing
positive market dynamics and ongoing demand for integrated technology solutions
in the financial services sector. However, the company anticipates some
pressure on EBITDA in the second half of 2024 due to additional staff costs
related to recent acquisitions and investments in sales capabilities.
“Current
trading is robust, and we are confident of meeting our full year revenue
expectations, as we continue to inspire better outcomes for retail financial
services,” concluded the CEO.
Shareholders did not receive the H1 2024 results warmly, and FNTL stocks fell by almost 6% at Tuesday’s market opening, testing August’s lows.
The publicly-listed
fintech company from London, Fintel (AIM: FNTL), announced financial results
for the first half of 2024 today (Tuesday), marked by strategic acquisitions
and organic growth. Despite a rebound in revenue and EBITDA, net profit fell by
over 30% to £2.3 million from the £3.4 million reported the previous year.
Fintel Reports Strong
First Half 2024
The company
reported a 13% increase in core revenue to £31.2 million for the six months
ended June 30, compared to £27.6 million in the same period last year. Core
adjusted EBITDA rose 5% to £9.3 million, while the adjusted EBITDA margin
slightly decreased to 26.8% from 28.3% in the first half of 2023.
Matt Timmins, Joint CEO of Fintel
Fintel's
SaaS and subscription revenue, a key focus area for the company, grew 6% to £20
million, representing 65% of core revenue.
“With
our strategic foundations firmly in place, we are strongly positioned to
capitalize on the growth opportunities across our extensive family of brands,
underpinned by the strength of our balance sheet,” commented Matt Timmins, Joint CEO
of Fintel.
In January, the company disclosed its results for the entire 2023. Adjusted EBITDA increased by 6% to £20.5 million, up from £19.4 million in 2022. Excluding mortgage brokerage and surveying services, the company's core revenue rose by 0.3% to £56.6 million.
Expansion Through
Acquisitions
In
addition, the company completed four acquisitions year-to-date, bringing the
total to eight in the last twelve months. Notable acquisitions include
Threesixty Services, a provider of compliance and business support services,
and Synaptic Software, an independent provider of financial adviser planning
and research software.
“Completing
four acquisitions year-to-date, totaling eight in the last twelve months, we
have significantly enhanced our scale, capabilities and IP, whilst accelerating
investment into our core propositions and technology offering,” added Timmins.
Source: Fintel
Despite the
robust top-line growth, Fintel's cash position decreased to £7.4 million from
£13.3 million in the first half of 2023, primarily due to £6.4 million deployed
for strategic acquisitions and approximately £2.5 million invested in product
development.
Looking
ahead, Fintel expects to meet its full-year revenue expectations, citing
positive market dynamics and ongoing demand for integrated technology solutions
in the financial services sector. However, the company anticipates some
pressure on EBITDA in the second half of 2024 due to additional staff costs
related to recent acquisitions and investments in sales capabilities.
“Current
trading is robust, and we are confident of meeting our full year revenue
expectations, as we continue to inspire better outcomes for retail financial
services,” concluded the CEO.
Shareholders did not receive the H1 2024 results warmly, and FNTL stocks fell by almost 6% at Tuesday’s market opening, testing August’s lows.
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.
Kalshi CEO Draws Battle Lines Over Insider Trading, Highlighting Deep Industry Divide
Executive Interview | Dor Eligula | Co-Founder & Chief Business Officer, BridgeWise | FMLS:25
Executive Interview | Dor Eligula | Co-Founder & Chief Business Officer, BridgeWise | FMLS:25
In this session, Jonathan Fine form Ultimate Group speaks with Dor Eligula from Bridgewise, a fast-growing AI-powered research and analytics firm supporting brokers and exchanges worldwide.
We start with Dor’s reaction to the Summit and then move to broker growth and the quick wins brokers often overlook. Dor shares where he sees “blue ocean” growth across Asian markets and how local client behaviour shapes demand.
We also discuss the rollout of AI across investment research. Dor gives real examples of how automation and human judgment meet at Bridgewise — including moments when analysts corrected AI output, and times when AI prevented an error.
We close with a practical question: how retail investors can actually use AI without falling into common traps.
In this session, Jonathan Fine form Ultimate Group speaks with Dor Eligula from Bridgewise, a fast-growing AI-powered research and analytics firm supporting brokers and exchanges worldwide.
We start with Dor’s reaction to the Summit and then move to broker growth and the quick wins brokers often overlook. Dor shares where he sees “blue ocean” growth across Asian markets and how local client behaviour shapes demand.
We also discuss the rollout of AI across investment research. Dor gives real examples of how automation and human judgment meet at Bridgewise — including moments when analysts corrected AI output, and times when AI prevented an error.
We close with a practical question: how retail investors can actually use AI without falling into common traps.
Brendan Callan joined us fresh off the Summit’s most anticipated debate: “Is Prop Trading Good for the Industry?” Brendan argued against the motion — and the audience voted him the winner.
In this interview, Brendan explains the reasoning behind his position. He walks through the message he believes many firms avoid: that the current prop trading model is too dependent on fees, too loose on risk, and too confusing for retail audiences.
We discuss why he thinks the model grew fast, why it may run into walls, and what he believes is needed for a cleaner, more responsible version of prop trading.
This is Brendan at his frankest — sharp, grounded, and very clear about what changes are overdue.
Brendan Callan joined us fresh off the Summit’s most anticipated debate: “Is Prop Trading Good for the Industry?” Brendan argued against the motion — and the audience voted him the winner.
In this interview, Brendan explains the reasoning behind his position. He walks through the message he believes many firms avoid: that the current prop trading model is too dependent on fees, too loose on risk, and too confusing for retail audiences.
We discuss why he thinks the model grew fast, why it may run into walls, and what he believes is needed for a cleaner, more responsible version of prop trading.
This is Brendan at his frankest — sharp, grounded, and very clear about what changes are overdue.
Elina Pedersen on Growth, Stability & Ultra-Low Latency | Executive Interview | Your Bourse
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Recorded live at FMLS:25 London, this executive interview features Elina Pedersen, in conversation with Finance Magnates, following her company’s win for Best Connectivity 2025.
🔹In this wide-ranging discussion, Elina shares insights on:
🔹What winning a Finance Magnates award means for credibility and reputation
🔹How broker demand for stability and reliability is driving rapid growth
🔹The launch of a new trade server enabling flexible front-end integrations
🔹Why ultra-low latency must be proven with data, not buzzwords
🔹Common mistakes brokers make when scaling globally
🔹Educating the industry through a newly launched Dealers Academy
🔹Where AI fits into trading infrastructure and where it doesn’t
Elina explains why resilient back-end infrastructure, deep client partnerships, and disciplined focus are critical for brokers looking to scale sustainably in today’s competitive market.
🏆 Award Highlight: Best Connectivity 2025
👉 Subscribe to Finance Magnates for more executive interviews, industry insights, and exclusive coverage from the world’s leading financial events.
#FMLS25 #FinanceMagnates #BestConnectivity #TradingTechnology #UltraLowLatency #FinTech #Brokerage #ExecutiveInterview
Recorded live at FMLS:25 London, this executive interview features Elina Pedersen, in conversation with Finance Magnates, following her company’s win for Best Connectivity 2025.
🔹In this wide-ranging discussion, Elina shares insights on:
🔹What winning a Finance Magnates award means for credibility and reputation
🔹How broker demand for stability and reliability is driving rapid growth
🔹The launch of a new trade server enabling flexible front-end integrations
🔹Why ultra-low latency must be proven with data, not buzzwords
🔹Common mistakes brokers make when scaling globally
🔹Educating the industry through a newly launched Dealers Academy
🔹Where AI fits into trading infrastructure and where it doesn’t
Elina explains why resilient back-end infrastructure, deep client partnerships, and disciplined focus are critical for brokers looking to scale sustainably in today’s competitive market.
🏆 Award Highlight: Best Connectivity 2025
👉 Subscribe to Finance Magnates for more executive interviews, industry insights, and exclusive coverage from the world’s leading financial events.
#FMLS25 #FinanceMagnates #BestConnectivity #TradingTechnology #UltraLowLatency #FinTech #Brokerage #ExecutiveInterview
In this video, we take an in-depth look at @BlueberryMarketsForex , a forex and CFD broker operating since 2016, offering access to multiple trading platforms, over 1,000 instruments, and flexible account types for different trading styles.
We break down Blueberry’s regulatory structure, including its Australian Financial Services License (AFSL), as well as its authorisation and registrations in other jurisdictions. The review also covers supported platforms such as MetaTrader 4, MetaTrader 5, cTrader, TradingView, Blueberry.X, and web-based trading.
You’ll learn about available instruments across forex, commodities, indices, share CFDs, and crypto CFDs, along with leverage options, minimum and maximum trade sizes, and how Blueberry structures its Standard and Raw accounts.
We also explain spreads, commissions, swap rates, swap-free account availability, funding and withdrawal methods, processing times, and what traders can expect from customer support and additional services.
Watch the full review to see whether Blueberry’s trading setup aligns with your experience level, strategy, and risk tolerance.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
🔗 LinkedIn: /financemagnates
👍 Facebook: /financemagnates
📸 Instagram: https://www.instagram.com/financemagnates
🐦 X: https://x.com/financemagnates
🎥 TikTok: https://www.tiktok.com/tag/financemagnates
▶️ YouTube: /@financemagnates_official
#Blueberry #BlueberryMarkets #BrokerReview #ForexBroker #CFDTrading #OnlineTrading #FinanceMagnates #TradingPlatforms #MarketInsights
In this video, we take an in-depth look at @BlueberryMarketsForex , a forex and CFD broker operating since 2016, offering access to multiple trading platforms, over 1,000 instruments, and flexible account types for different trading styles.
We break down Blueberry’s regulatory structure, including its Australian Financial Services License (AFSL), as well as its authorisation and registrations in other jurisdictions. The review also covers supported platforms such as MetaTrader 4, MetaTrader 5, cTrader, TradingView, Blueberry.X, and web-based trading.
You’ll learn about available instruments across forex, commodities, indices, share CFDs, and crypto CFDs, along with leverage options, minimum and maximum trade sizes, and how Blueberry structures its Standard and Raw accounts.
We also explain spreads, commissions, swap rates, swap-free account availability, funding and withdrawal methods, processing times, and what traders can expect from customer support and additional services.
Watch the full review to see whether Blueberry’s trading setup aligns with your experience level, strategy, and risk tolerance.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
🔗 LinkedIn: /financemagnates
👍 Facebook: /financemagnates
📸 Instagram: https://www.instagram.com/financemagnates
🐦 X: https://x.com/financemagnates
🎥 TikTok: https://www.tiktok.com/tag/financemagnates
▶️ YouTube: /@financemagnates_official
#Blueberry #BlueberryMarkets #BrokerReview #ForexBroker #CFDTrading #OnlineTrading #FinanceMagnates #TradingPlatforms #MarketInsights
Exness CMO Alfonso Cardalda on Cape Town office launch, Africa growth, and marketing strategy
Exness CMO Alfonso Cardalda on Cape Town office launch, Africa growth, and marketing strategy
Exness is expanding its presence in Africa, and in this exclusive interview, CMO Alfonso Cardalda shares how.
Filmed during the grand opening of Exness’s new Cape Town office, Alfonso sits down with Andrea Badiola Mateos from Finance Magnates to discuss:
- Exness’s marketing approach in South Africa
- What makes their trading product stand out
- Customer retention vs. acquisition strategies
- The role of local influencers
- Managing growth across emerging markets
👉 Watch the full interview for fundamental insights into the future of trading in Africa.
#Exness #Forex #Trading #SouthAfrica #CapeTown #Finance #FinanceMagnates
Exness is expanding its presence in Africa, and in this exclusive interview, CMO Alfonso Cardalda shares how.
Filmed during the grand opening of Exness’s new Cape Town office, Alfonso sits down with Andrea Badiola Mateos from Finance Magnates to discuss:
- Exness’s marketing approach in South Africa
- What makes their trading product stand out
- Customer retention vs. acquisition strategies
- The role of local influencers
- Managing growth across emerging markets
👉 Watch the full interview for fundamental insights into the future of trading in Africa.
#Exness #Forex #Trading #SouthAfrica #CapeTown #Finance #FinanceMagnates
