Equals Group Sees 51% YoY Increase in Revenue for the Year to Date

Fazzaco learned that Equals Group, the technology-led international payments group focused on the SME marketplace, has published a trading update for the period from 1 January 2021 to 6 December 2021.

According to the figures, Equals Group’s revenue for the year to date came in at £40.4 million, an increase of 51% compared to £26.8 million for the same period in 2020. The underlying revenues rose by 45% to £38.9 million from last year’s £26.8 million.

In terms of the period from 1 October 2021 to 6 December 2021, the group’s revenue reached £11.6 million, climbed 105% from £5.7 million for the same period last year. For the period, the underlying revenues rose by 78% to £10 million from last year’s £5.7 million.

"I am delighted to be able to inform the market that the strong performance we saw in September and October has continued and allowed us to significantly surpass the market expectations for the full year in early December. Our results show the results of strategic steps we undertook three years ago to pivot the business to a B2B-focus and to invest into our platforms and connectivity,”Ian Strafford-Taylor, CEO of Equals Group, said.

Earlier this year, Equals Group has published a trading update, generating revenue of £11.7 million​ for the third quarter of 2021. The figure for Q3 rose by 33% when compared to Q2's revenue of £8.8 million.