The Forex company achieved 26% revenue growth last year, with improved margins and profitability.
The company expanded its customer base to 1,059 active users while strengthening its strategic position.
Foreign
exchange and payments solutions provider Finseta (LSE: FIN) reported strong
financial performance for 2024. Underlying revenue climbed 26% to £11.3
million as the company expanded its customer base.
Finseta Reports 26%
Revenue Growth in 2024, Driven by Customer Base Expansion
The
London-listed fintech firm saw its active customer count rise to 1,059 from 906
in the previous year, while adjusted EBITDA increased 18% to £2.0 million. The
company's gross margin improved to 65.5%, up from 63.4% in 2023.
Private
clients, primarily high-net-worth individuals, accounted for 59% of total
revenue, while corporate accounts contributed 40%. The remaining 1% came from a
licensing agreement related to its former subsidiary, Avila House.
James Hickman, CEO of Finseta
“This
has been a milestone year for our company,” said James Hickman, CEO of
Finseta. “We undertook several significant strategic initiatives while
continuing to deliver strong growth.”
The latest
data reveals that following a strong first half of the year, during which
Finseta increased its revenue by 42%, the second half of 2024 also maintained
positive momentum. During this period, revenue reached £5.1 million,
significantly exceeding the £3.6 million reported in H1 2023.
Cash and
cash equivalents strengthened to £2.6 million by year-end, resulting in a net
cash position of £0.6 million, up from £0.2 million at the end of 2023.
Operating cash flow reached £2.2 million, showing improvement from £2.0 million
in the previous year.
“Our agreement with Mastercard, establishing a
presence in Canada and adopting ‘Finseta’ as our new company name have
strengthened our business and our ability to deliver value,” Hickman added. “Accordingly,
we have entered 2025 with confidence and we look forward to reporting on
further progress.”
Finseta is
not the only LSE-listed company to report revenue growth this week. On Monday, Plus500 also released its financial results, revealing
revenues of approximately $768 million and an EBITDA of about $342 million for
2024.
Forex Company
Finseta plc
operates as a specialized foreign exchange and payments solutions provider,
focusing on high-value transactions for corporate clients and high-net-worth
individuals. Founded in 2010 and headquartered in London, the company leverages
its proprietary technology platform to facilitate cross-border payments in over
150 countries using 58 currencies.
The
company's core business revolves around providing multi-currency accounts and
payment solutions through a combination of technological infrastructure and
personalized service.
Unlike
competitors in the retail space, Finseta specifically targets the high-value,
compliance-intensive transaction segment. Their platform enables clients to
manage, maintain, and distribute funds from a single account, offering support
for major currencies including the USD, EUR, and GBP.
Foreign
exchange and payments solutions provider Finseta (LSE: FIN) reported strong
financial performance for 2024. Underlying revenue climbed 26% to £11.3
million as the company expanded its customer base.
Finseta Reports 26%
Revenue Growth in 2024, Driven by Customer Base Expansion
The
London-listed fintech firm saw its active customer count rise to 1,059 from 906
in the previous year, while adjusted EBITDA increased 18% to £2.0 million. The
company's gross margin improved to 65.5%, up from 63.4% in 2023.
Private
clients, primarily high-net-worth individuals, accounted for 59% of total
revenue, while corporate accounts contributed 40%. The remaining 1% came from a
licensing agreement related to its former subsidiary, Avila House.
James Hickman, CEO of Finseta
“This
has been a milestone year for our company,” said James Hickman, CEO of
Finseta. “We undertook several significant strategic initiatives while
continuing to deliver strong growth.”
The latest
data reveals that following a strong first half of the year, during which
Finseta increased its revenue by 42%, the second half of 2024 also maintained
positive momentum. During this period, revenue reached £5.1 million,
significantly exceeding the £3.6 million reported in H1 2023.
Cash and
cash equivalents strengthened to £2.6 million by year-end, resulting in a net
cash position of £0.6 million, up from £0.2 million at the end of 2023.
Operating cash flow reached £2.2 million, showing improvement from £2.0 million
in the previous year.
“Our agreement with Mastercard, establishing a
presence in Canada and adopting ‘Finseta’ as our new company name have
strengthened our business and our ability to deliver value,” Hickman added. “Accordingly,
we have entered 2025 with confidence and we look forward to reporting on
further progress.”
Finseta is
not the only LSE-listed company to report revenue growth this week. On Monday, Plus500 also released its financial results, revealing
revenues of approximately $768 million and an EBITDA of about $342 million for
2024.
Forex Company
Finseta plc
operates as a specialized foreign exchange and payments solutions provider,
focusing on high-value transactions for corporate clients and high-net-worth
individuals. Founded in 2010 and headquartered in London, the company leverages
its proprietary technology platform to facilitate cross-border payments in over
150 countries using 58 currencies.
The
company's core business revolves around providing multi-currency accounts and
payment solutions through a combination of technological infrastructure and
personalized service.
Unlike
competitors in the retail space, Finseta specifically targets the high-value,
compliance-intensive transaction segment. Their platform enables clients to
manage, maintain, and distribute funds from a single account, offering support
for major currencies including the USD, EUR, and GBP.
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
