SafeCharge Issues Positive Trading Update for H1 of 2018

The payments FinTech firm also said that it is looking to expand into new markets

SafeCharge, a payment processing technology provider, issued a trading update for the first half of 2018 this Friday. The firm claimed that it has experienced a positive first half of the year and that its results are in line with prior expectations.

Founded in 2007, SafeCharge was founded as an online payments solution. The firm launched an initial public offering on the London Stock Exchange in 2014, raising $125 million in the process.

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At the start of this year, the firm expanded its service offering after it was granted a Payment Institution license from the Financial Conduct Authority, a British regulator. This license means the firm is now able to, amongst other things, provide FX and ancillary services.

In its statement today, SafeCharge seemed to imply that it has seen growth in revenues. The firm said that it has seen “good momentum in revenues and transaction processing volumes” over the first half of 2018.

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This growth may be in part due to a change of strategy the firm pursued in 2016 as it shifted its focus on to markets with reduced regulatory risk. It also formed partnerships with several firms, including Saxo Payments, to grow its business.

At the same time, the firm appears to have increased its sales and marketing efforts over the past 12-months. The firm said that its success in the first half of this year was driven by new customer wins. It added that it would be continuing to onboard new salespeople and increasing its marketing efforts.

The company added that it wants to expand into new markets. The firm noted that its sales and marketing efforts would, in part, be aimed at attracting new customers from outside of its traditional markets.

Those wanting to get an in-depth look at SafeCharge’s results will have to wait some time. The firm stated that it will be releasing its full financial report for the first half of 2018 on September 30.

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