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IPO on the Horizon for PFS after Decade of Profitability

News and Media

 

IPO on the Cards for One of FinTechs Biggest Success Stories as PFS Records a Decade of Profitability

Revenues at Prepaid Financial Services have increased to €50.4 million (EBITDA €6.2 Million) with record profits revealed in its annual results for the year ended December 2017. This represents a hike in turnover for the 10th year in a row in what has proven to be a consistent pattern of robust commercial growth for the leading payments solution provider.

PFS is on target to process over €2.5 billion in 2018 after processing €1.6 billion last year. The company successfully migrated clients from two acquisitions in 2016 adding 55 local authorities to the books plus multiples of new corporate customers.

PFS CEO, Noel Moran, stated: "I believe we are one of the few, if not the only, FinTech companies in Europe that has managed to return profits for 10 consecutive years - without taking in any institutional investment. We are now at a point where it makes sense to look at an IPO and take the company to greater heights.”

Last year, the business won a number of top awards such as making it onto the Deloitte Fast 500 EMEA list 3 years in a row and The Sunday Times Hiscox Tech Track 100 for 5 years in a row. PFS won The Queen’s Award for Enterprise, International Trade 2017. This year, the company won the overall RSM European Business Award for Digital Technology and featured on The Financial Times FT 1000 list of Europe's fastest-growing companies for the second year in a row.

PFS sees further growth potential outside of Europe and is seeking to extend it licensing in Africa and Asia. Adding to the number of products it offers has helped the company to avail of heightened scale efficiencies. The Board expects EBITDA to increase to over €12 million in 2018. Turnover is expected to grow to in the region of €65 million.

Keefe, Bruyette & Woods, Inc. is a retained adviser to PFS.

OTHER NEWS AND MEDIA

PFS & Mastercard Donate 200,000 Schools Meals to WFPPFS selected as FT Future 100 UK 2018IPO on the Horizon for PFS after Decade of ProfitabilityPFS & PayTop Launch with a New Bank Partner in FranceEuropean Business Awards Q&A with PFS CEOPFS' Noel Moran Interviewed by American Press Alongside the World's Top CEOsPFS CEO Noel Moran Named a European Entrepreneur of the Year Finalist by European CEOPFS Proud to Sponsor a Special Olympics AthletePFS featured in Informa/Mapa Research Spotlight SeriesPFS & Centtrip Listed in Sonovate 250 UK FinTechs ListPFS Celebrates its "Biggest Achievement" by Winning Major European AwardInternational, Spanish & Irish press cover PFS Correos Google Pay milestoneInternational Media Including Dow Jones Feature PFS' Listing in the FT1000 2018Witness the Positive Impact of Prepaid Cards on Syrian Families in GreeceNoel & Valerie Moran Featured in The Irish ExaminerTechIreland Innovation Nation 2018 Book Features PFSPFS CEO, Noel Moran, on stage with The Economist in GreeceTV3's Saturday AM show live in studio with PFS CEO Noel Moran & a winner of the €1M Innovation FundPFS CEO, Noel Moran, live in studio on RTÉ Radio 1's Today with Sean O'Rourke showPFS' Valerie Willis discusses our Nourish Their Lives Campaign in partnership With The WFP Today's FM PodcastEuropean Business Awards Name PFS UK Digital Technology WinnerThe Sunday Business Post publishes extensive feature on PFS CEOPFS Named UK National Winner in European Business AwardsPFS Ranked on Deloitte’s Technology Fast 500 EMEA for 3rd Consecutive yearFintech revolution hits regions as Navan native’s start-up processes £2.8bnThe Irish Daily Star Tip of the Week PFS engage with Mastercard and WFP in an attempt to eradicate World HungerPFS Management & Staff in the UK, Ireland & Malta collectively celebrating this weekPFS is Ranked in The Sunday Times Hiscox Tech Track 100 2017 for the 5th Year in a Row - The Only Company on the List to Do SoNoel Moran Saturday AM Interview