According to a UK Companies House filling, ayondo Markets Limited, the FCA-regulated subsidiary of ayondo, posted increased revenues in 2016. The company’s turnover almost doubled year-on-year, from $9.9 million (£7.4 million) to $19.1 million (£14.2 million)

The UK subsidiary of ayondo also reported a net loss of $1,450,000 (£1,073,000) for 2016. The figure is nearly 25% lower than its 2015 losses of $1,950,000 (£1,443,000).

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According to the report, all major indicators saw improvement, with the number of trades, number of active clients and volumes traded all “achieving new highs within the accounting period.”

“2016 was not only year of revenue growth but a year of laying the operational foundations for providing a harmonized product that is capable of acquiring a significant geographical footprint across both execution only and social trading within Europe, the Middle East and Asia,” the official filing states.

During 2016, the social trading brokerage launched a revamp of its website to offer improved usability and a new design. ayondo offers a broad spectrum of services to both retail and institutional sectors.

Recently, the Frankfurt-based company obtained one of the most lucrative licenses in Europe – one from Germany’s financial regulator, BaFin.

The company’s CEO, Robert Lempka, commented to Finance Magnates that it took over a year to acquire the BaFin license: “We put customer experience and protection at the centre of our business activities, and the BaFin licence is a benefit to both our retail and B2B clients.”

“Furthermore, transparency and a clear regulatory environment is a necessity as we focus on our international expansion. The licence represents a milestone within the European FinTech market and paves the way for future market developments.” Mr Lempka explained.