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Tuesday 14 September 2021

Pivot to B2B Equals success for cross-border specialist

EqualsUK-based, cross-border banking and payments specialist, Equals, has released an impressive set of interim results, highlighting strong growth in revenue and profits. The results for the six months ended 30 June 2021 reveal that revenue was up 22% to £16.9m and gross profit up 17% to £10.2m.

Equals has benefitted from its leadership’s decision to prioritise opportunities within the B2B market with B2C volumes hit by the reduction in travel related FX due to the pandemic (down 11%). Transaction values in the B2B segment rose by 65% during the first six months of the fiscal, whilst B2B revenue was up 26% to £11.6m. B2C revenue rose by 15% in the first six months to £5.3m.

Over recent years Equals has made significant investments in its technology platforms and payment network connectivity. These efforts appear to be starting to pay dividends and have contributed to the improving picture as Equals pivots from being a product-led operation to a platform-business.

Posted by: Jon C Davies at 09:56

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