TigerWit Posts Record Revenue for FY2020, Up 24% YoY

The UK-headquartered company posted revenue of $27.5 million.

TigerWit, a UK-headquartered financial technology company, has announced the results for its financial year, ended on the 31st of March 2020, this Monday in which the company has achieved record revenues.

In particular, TigerWit has achieved record revenues of $27.5 million. This represents an increase of 24 percent from the prior-year period. Furthermore, the company has expanded its global network of partnerships as well as increased its presence in emerging markets globally.

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Tim Hughes, CEO of TigerWit
Tim Hughes, CEO of Tigerwit

Commenting on the performance, Tim Hughes, CEO at TigerWit, said in the statement seen by Finance Magnates: “The last financial year has been both successful and transformational for the Group as we progressed our strategy of broadening our global footprint and further developing our technology. 

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“These investments position us to offer an innovative suite of trading and fintech products to retail investors around the world. This strategy is becoming a reality with our multi-jurisdiction regulation, the establishment of regional partnerships, and product innovation.

“Despite the uncertainty of what the global coronavirus pandemic presents, we have ensured we do our utmost to protect our employees by providing them with everything they need to be able to work safely from home. This financial year has commenced strongly in the face of today’s uncertain economic climate and we continue to grow, looking forward to the months and years ahead with great optimism.”

TigerWit: expansion and diversification

As reported by Finance Magnates, TigerWit has big plans for 2020 – expansion and diversification. At the beginning of this year, the company secured a Financial Services license from Hong Kong’s Securities and Futures Commission (SFC).

The acquisition of the new license is in line with the company’s plans for expansion. TigerWit, which is a global foreign exchange (forex) broker based in the United Kingdom with roots in Asia, already has licenses in the UK with the Financial Conduct Authority (FCA) and in the Bahamas.

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