KUALA LUMPUR, Aug 13 (Bernama) -- Mash Group -- one of Europe’s leading fintech companies -- recorded 99 per cent increase in H1/18 revenue from H1/17 with H1/18 lending volumes surpassing full year 2017 and achieved EBIT of EUR 5.5 million (RM 25.66 million). (EUR 1 = RM 4.67).
“This demonstrates the strong competitive position of our lending business model. We anticipate this strong growth to continue in H2 2018, supported by our new customer acquisition channels and going live in the Spanish market in Q2/18,” said Chief executive officer (CEO) of Mash Group, James Hickson.
“We continue to make investments for the long term in this acquisition channel and explore new opportunities to enhance our capability, identify new partners and expand our merchant and consumer offering,” he added.
The company has increased the size of its structured financing facility with funds managed by affiliates of Fortress Investment Group LLC from EUR 120 million (RM 560.4 million) to EUR 200 million (RM 934 million), a statement said.
It was also recognised as one of the Fintech50, Europe’s leading list of FinTech companies and its CEO has been awarded with ‘Most Influential FinTech CEO of the year 2018’ from AI Global Media.
Mash continued to grow rapidly in all markets during the second quarter, achieving a record Q2 2018 in terms of lending volumes (+27 per cent) and revenues (+36 per cent) compared to Q1 2018.
Registered merchants for Mash’s pay later point of sale solution has grown 733 per cent in H1 2018 with the number of new customers grown by 265 per cent compared to H1 2017, the statement said.
Mash has been at the forefront of fintech innovation since 2007. The company leveraged advanced proprietary algorithms, machine learning capabilities and automated platform to deliver superior finance and payments solutions. More details at https://www.mash.com.
-- BERNAMA
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