Financial Services category powered by

ISX Financial announce 11% y-o-y growth in Q3

ISX Financial EU Plc said its revenues increased 11% and net assets surged 64% y-o-y in the third quarter of 2023, as it continues “to showcase remarkable growth, solid profitability, ongoing innovation, and an expanding market presence”.

Announcing its Q3 results, the company said the 11% annual growth in revenues “demonstrates our ability to capture new opportunities and expand our presence in the market”. It added that its Net Assets have surged by 64% year-on-year (12% Q-o-Q).
ISX Financial continues to maintain its profitability with an EBITDA margin of 24%. “This solidifies our position as a thriving and financially robust fintech payments company.”

It has invested approximately €2m in Research and Development this year to date, while its product flykk® has been enhanced with a major new version to be launched in the coming days. “Our flykk® linked Diners card has been certified for production and is (finally) in pre-rollout stage,” the company said, adding that it has also been granted further patents during this last quarter.
Meanwhile, ISX Financial continues to expand its market presence, secure new customers and explore exciting segments in the market. For example, it has extended its PaidBy® bank transfers offering to a major marketplace, such that it is accessible by over 30,000 UK retail merchants.

Concluding, the fintech payments company said it is well on track to reach its goal of achieving €30 million in revenue by the end of 2023 and maintain its EBITDA/profitability margin within 20-30%.

ISX Financial CEO Nikogiannis Karantzis commented: "We are excited to report another quarter of impressive growth and profitability. These results reflect our unwavering commitment to our customers, by delivering new services through innovation together with the ability to capitalise on opportunities through solving our customer’s problems."
ISX Financial EU Plc is a Cypriot Headquartered company with over 10,000 shareholders. It provides to cross-border, regulated and high value businesses with a complete customer onboarding solution, remote identity verification, payment processing, card acquiring, settlement and deposit-taking eMoney services.

Read More

CySEC cracks down on Veles International and its sole shareholder
Hellenic Bank announces €365.4m profit in Group financial results 2023
NPLs in Cyprus banking system decline below €2 billion in 2023
Bank profitability spikes by 644% in 2023 driven by high interest rates
Assets under management at €8.56b in Q4 2023
Cyprus calls for applications from those hit by 2013 financial crisis decisions
Dr Christodoulos Patsalides: A highly experienced banker at the helm of the CBC
CBC: New loans up a monthly €112.8m in February
CIFA-CySEC meetup to discuss local funds sector
CySEC: Financial literacy – next stop, Engomi A Elementary School