Transaction volumes were also up by 45 percent year-on-year.
Following a record final quarter of 2018, SafeCharge has published its financial results for the full year of 2018 this Wednesday, with the firm achieving revenues towards the upper end of its revised expectations.
SafeCharge, a payments technology company, posted a revenue of $138.5 million, which represents a solid growth of 24 percent when measured against 2017, which had total revenue of $111.7 million.
As Finance Magnates previously reported, in November of last year, SafeCharge stated that it expected revenue would beat market expectations for the full year and fall within the range of $135-138 million.
Following its solid final quarter, the UK-based company revised its forecast in a trading update in January 2019, with the full year total revenue forecast to fall between $137.5 and $138.5 million, which, as today’s announcement shows, revenue came in towards the top end of this revised expectation.
According to the statement released this Wednesday, the strong revenue growth was largely driven by onboarding new customers, as well as expanding the relationships with its existing customers.
Transaction Volumes Soar in 2018
The number of transactions made in 2018 comes in at 255.1 million, which is an increase of 47 percent year-on-year, up from 2017’s figure of 173.8 million. In terms of transaction value, 2018 achieved a result of $13.93 billion. This is up by 45 percent on an annual comparison.
As the company previously outlined, it expected to achieve a processed volume for its 2018 fiscal year of $14 billion. As can be seen, this estimate is very close to the actual result revealed today.
Commenting on the results, David Avgi, the CEO of SafeCharge, said: "The year 2018 was another period of strong financial performance and continued growth. We demonstrated excellent performance and successful entry into new markets and verticals. We have continued to innovate, develop and deliver our payment products and technologies, enabling us to deepen our relationships and win new business with large scale customers.”
SafeCharge Expects 2018 Momentum to carry into 2019
Alongside today’s results, the Board of SafeCharge has already issued its forecasts for 2019, with revenues expected to be in the range of $155 million to $165 million. Furthermore, the Payments technology firm expects Adjusted EBITDA to fall between $40 million and $42 million.
These figures, according to the statement, will be driven by continued growth from its existing customers, as well as new customers acquired in 2019. Already, the company claims to be on its way to achieving this, with momentum from the final quarter of 2018 carrying into the start of 2019.
“During 2019 we will continue to invest in building our sales teams to accelerate our entry into new markets, as well as to invest further in innovative products to our customers. We are only at the beginning of our journey. Our highly scalable proprietary Payments Engine has been designed to deliver superior performance translating into a better user experience and increased revenues for our customers," added Avgi.
Following a record final quarter of 2018, SafeCharge has published its financial results for the full year of 2018 this Wednesday, with the firm achieving revenues towards the upper end of its revised expectations.
SafeCharge, a payments technology company, posted a revenue of $138.5 million, which represents a solid growth of 24 percent when measured against 2017, which had total revenue of $111.7 million.
As Finance Magnates previously reported, in November of last year, SafeCharge stated that it expected revenue would beat market expectations for the full year and fall within the range of $135-138 million.
Following its solid final quarter, the UK-based company revised its forecast in a trading update in January 2019, with the full year total revenue forecast to fall between $137.5 and $138.5 million, which, as today’s announcement shows, revenue came in towards the top end of this revised expectation.
According to the statement released this Wednesday, the strong revenue growth was largely driven by onboarding new customers, as well as expanding the relationships with its existing customers.
Transaction Volumes Soar in 2018
The number of transactions made in 2018 comes in at 255.1 million, which is an increase of 47 percent year-on-year, up from 2017’s figure of 173.8 million. In terms of transaction value, 2018 achieved a result of $13.93 billion. This is up by 45 percent on an annual comparison.
As the company previously outlined, it expected to achieve a processed volume for its 2018 fiscal year of $14 billion. As can be seen, this estimate is very close to the actual result revealed today.
Commenting on the results, David Avgi, the CEO of SafeCharge, said: "The year 2018 was another period of strong financial performance and continued growth. We demonstrated excellent performance and successful entry into new markets and verticals. We have continued to innovate, develop and deliver our payment products and technologies, enabling us to deepen our relationships and win new business with large scale customers.”
SafeCharge Expects 2018 Momentum to carry into 2019
Alongside today’s results, the Board of SafeCharge has already issued its forecasts for 2019, with revenues expected to be in the range of $155 million to $165 million. Furthermore, the Payments technology firm expects Adjusted EBITDA to fall between $40 million and $42 million.
These figures, according to the statement, will be driven by continued growth from its existing customers, as well as new customers acquired in 2019. Already, the company claims to be on its way to achieving this, with momentum from the final quarter of 2018 carrying into the start of 2019.
“During 2019 we will continue to invest in building our sales teams to accelerate our entry into new markets, as well as to invest further in innovative products to our customers. We are only at the beginning of our journey. Our highly scalable proprietary Payments Engine has been designed to deliver superior performance translating into a better user experience and increased revenues for our customers," added Avgi.
Dutch Neobank Bux Taps 30-Year Financial Veteran as Chairperson
Hannelé De Necker, CEO, IFX Brokers | FMAS:24
Hannelé De Necker, CEO, IFX Brokers | FMAS:24
1 week to go until FMAS:24 kicks off and we couldn't skip our interviews with some of this year's sponsors 🤩 Starting off strong with Hannelé De Necker, CEO OF IFX Brokers.
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1 week to go until FMAS:24 kicks off and we couldn't skip our interviews with some of this year's sponsors 🤩 Starting off strong with Hannelé De Necker, CEO OF IFX Brokers.
See you there!
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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FMAS:24 | Sneak Peak
FMAS:24 | Sneak Peak
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
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#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
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#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa