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the UK marketplace for company sales

Worldwide Online Payments Provider

Reference
S12169
Turnover
Less than £0.5m
Sector(s)
Business services, Technology
Region(s)
UK Wide, Outside UK
Added
10 December 2024

Business description

  • UK registered entity trading since 2010 providing international bank to bank payments
  • UK Payment Institution regulated by FCA and HMRC
  • All intellectual property relating to the customer website and back office / administration platform
  • APIs and licences connecting to international banks and payment partners
  • Existing customer base of both Business and individual clients
  • Previously incurred tax losses available
  • Range of international domain names
  • Opportunities to utilise the assets in other territories and related industries

Highlights

Comprehensive pay-to-bank payments service;

  • Payouts in 35 local currencies
  • SWIFT Payouts to 220 countries in USD & EUR or GBP
  • Recent addition of pay-to-wallet capability

14 years of successful trading with minimal investment;

  • £3.8m revenue since 2011
  • Company breaks even with profits reinvested in system
  • Transferred over £150m
  • 246,000 Transactions processed

Modern IT system;

  • Self-funded development of modern browser-based client website together with powerful and user configurable flexible administration system

Developed a solid client base of clients;

  • Moved from consumers only to 60% business mix
  • 81,000 registered clients since inception
  • Loyal customer base

Additional Financial Information;

  • No borrowings or debt
  • Cash in the bank
  • Paid for all Intellectual property and new platform out of revenue
  • Eligible for HMRC Research and Development Tax Credits
  • The company had accumulated unused trading tax losses at 31st December 2023 totalling £694,970.00

Financials

Turnover (£'000) Adjusted EBIT (£'000)
2023 (Actual) 344 -1

Opportunities

  • Expand to EU and other jurisdictions - Bidirectional flows
  • Upgrade to E-Money licence
  • Issue IBANS etc
  • Related product offerings
  • Build more direct banking partnerships to increase speed and reduce costs
  • Improve price offering to scale rapidly
  • White Label opportunities

Additional information

  • Long established with excellent reputation
  • Strong regulatory and banking infrastructure
  • Flexible technology in place
  • Ready to scale

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