Conotoxia reported record-breaking metrics for 2022.
The fintech company showed increased FX volumes and a number of active clients.
Conotoxia, the retail trading arm of the major Poland-based fintech, Cinkciarz.pl, has
reported significant growth in 2022, with revenues and transaction volumes
soaring compared to the previous year. The group's overall foreign exchange (FX)
transaction turnover reached $8.29 billion, reflecting a solid performance
across all its companies and services.
Record-Breaking Results
for Conotoxia Holding Companies
In 2022,
Conotoxia's currency exchange turnover increased 5% from $7.46 billion
reported in 2021, reaching $8.29 billion. As for the other statistics,
Conotoxia does not provide exact figures, only percentages and multipliers by
which they managed to improve their results in the remaining business areas. The number of active client accounts reached an all-time high,
growing almost 2.5 times.
The
company's money transfer service revenue grew 24%, while the number of
transactions surged 60%, and their value jumped over 40% compared to the
previous year.
In addition, the
multi-currency card category experienced visible growth, with revenues
increasing 4.5 times, a 4-fold rise in the number of card transactions, and triple their values compared to 2021.
Turnover in
the lending service nearly doubled in 2022, with an 80% increase in granted
loans. This significant rise was mainly due to loans in foreign currencies,
which were given out almost 2.5 times more than in the previous year.
"It is
essential for us to consistently expand in all areas of our business,"
Marcin Pioro, the CEO of Conotoxia Holding, commented. "Conotoxia's offer
makes it possible to manage everyday finances in various currencies
conveniently, quickly and universally."
Pioro
emphasized that the Conotioxia Group is currently working on other domestic and
international projects with plans for further global expansion and significant
growth in revenue and turnover across all segments. Conotoxia aims to maintain
its position as the leader in multi-currency services in Poland and expand its
reach globally.
Additionally,
the B2B segment achieved its best results in history, with business customers
increasingly adopting the fintech payment system for e-commerce, Conotoxia Pay.
Both revenue and turnover in this segment increased almost 2.5 times in 2022
compared to 2021, while the number of transactions rose by over 2.5 times.
Conotoxia's Important
Updates
Less than a
month ago, Conotoxia announced the launch of an innovative investment advisory
service for individual traders in the contracts for difference (CFD) industry.
According to the broker's representatives, a similar service was never available
in this form, eliminating the entry barrier almost entirely.
According
to the official announcement seen by Finance Magnates, the advisory
service enables retail traders to receive individual investment recommendations
on selected financial instruments.
"The
introduction of the investment advisory service is another significant step in
the development of the Invest & Forex segment," Grzegorz Jaworski, the
CEO of Conotoxia Ltd. (Cinkciarz.pl's investment service), commented. "We
believe that the knowledge and experience of advisors can help our clients
build their own professional investment portfolios and make informed and
accurate decisions."
In 2021,
the company declared the formation of a local branch in Poland to initiate its
expansion into Europe. The company obtained a license from the Polish Financial
Supervision Authority (KNF) to provide investment services to its clients.
As of early
2023, Conotoxia appointed Ireneusz Pukin as the new Director of its Polish
branch, taking over from Daniel Kostecki, who had been leading the unit since
its inception in 2021.
Conotoxia, the retail trading arm of the major Poland-based fintech, Cinkciarz.pl, has
reported significant growth in 2022, with revenues and transaction volumes
soaring compared to the previous year. The group's overall foreign exchange (FX)
transaction turnover reached $8.29 billion, reflecting a solid performance
across all its companies and services.
Record-Breaking Results
for Conotoxia Holding Companies
In 2022,
Conotoxia's currency exchange turnover increased 5% from $7.46 billion
reported in 2021, reaching $8.29 billion. As for the other statistics,
Conotoxia does not provide exact figures, only percentages and multipliers by
which they managed to improve their results in the remaining business areas. The number of active client accounts reached an all-time high,
growing almost 2.5 times.
The
company's money transfer service revenue grew 24%, while the number of
transactions surged 60%, and their value jumped over 40% compared to the
previous year.
In addition, the
multi-currency card category experienced visible growth, with revenues
increasing 4.5 times, a 4-fold rise in the number of card transactions, and triple their values compared to 2021.
Turnover in
the lending service nearly doubled in 2022, with an 80% increase in granted
loans. This significant rise was mainly due to loans in foreign currencies,
which were given out almost 2.5 times more than in the previous year.
"It is
essential for us to consistently expand in all areas of our business,"
Marcin Pioro, the CEO of Conotoxia Holding, commented. "Conotoxia's offer
makes it possible to manage everyday finances in various currencies
conveniently, quickly and universally."
Pioro
emphasized that the Conotioxia Group is currently working on other domestic and
international projects with plans for further global expansion and significant
growth in revenue and turnover across all segments. Conotoxia aims to maintain
its position as the leader in multi-currency services in Poland and expand its
reach globally.
Additionally,
the B2B segment achieved its best results in history, with business customers
increasingly adopting the fintech payment system for e-commerce, Conotoxia Pay.
Both revenue and turnover in this segment increased almost 2.5 times in 2022
compared to 2021, while the number of transactions rose by over 2.5 times.
Conotoxia's Important
Updates
Less than a
month ago, Conotoxia announced the launch of an innovative investment advisory
service for individual traders in the contracts for difference (CFD) industry.
According to the broker's representatives, a similar service was never available
in this form, eliminating the entry barrier almost entirely.
According
to the official announcement seen by Finance Magnates, the advisory
service enables retail traders to receive individual investment recommendations
on selected financial instruments.
"The
introduction of the investment advisory service is another significant step in
the development of the Invest & Forex segment," Grzegorz Jaworski, the
CEO of Conotoxia Ltd. (Cinkciarz.pl's investment service), commented. "We
believe that the knowledge and experience of advisors can help our clients
build their own professional investment portfolios and make informed and
accurate decisions."
In 2021,
the company declared the formation of a local branch in Poland to initiate its
expansion into Europe. The company obtained a license from the Polish Financial
Supervision Authority (KNF) to provide investment services to its clients.
As of early
2023, Conotoxia appointed Ireneusz Pukin as the new Director of its Polish
branch, taking over from Daniel Kostecki, who had been leading the unit since
its inception in 2021.
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.
Prop Trading: YourPropFirm Taps Leverate to Enhance Services
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
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
#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.
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
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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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
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
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
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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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
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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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
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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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
Register now to secure your spot: https://bit.ly/3JbUpCK
#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
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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