FairFX Group Plc operates as a payment services provider in the United Kingdom.
Industry: Financial Services
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Cursty Jenner 13 Jan 2020, 21:37
$FFX 8x EV/Adj. EBITDA 2019 is an attractive entry point for a company with 39.4% organic revenue growth in 2018. Equals is diversifying from B2C FX products to payments, lending and B2B which would support organic growth. £14.3m equity raise in August 2019 will provide capital for M&A and growth working capital #bullish
FairFX Group Plc operates as a payment services provider in the United Kingdom. The company operates a cloud-based P2P payments platform that enables personal and business customers to make multi-currency payments in a range of currencies and countries, and a range of FX products through an integrated system. Its FAIRFX platform facilitates payments direct to bank accounts or at approximately 30 million merchants, and approximately 30 million ATMs in a range of countries through mobile apps, Internet, SMS, wire transfer, and MasterCard/VISA debit cards. The company provides its transactional services through four channels, including currency cards, which are prepaid currency cards denominated in US Dollars, Euros, and Sterling, loaded with a set amount of currency determined by the customer to be used when spending overseas; physical currency of foreign bank notes in 21 currencies that is delivered on a next day basis, directly to the customers using Royal Mail insured delivery; and FairPay interface, in which a foreign exchange transaction in any one of 11 currencies and to wire the funds to an overseas bank account with no transaction fees, as well as dealing directly though telephone. FairFX Group Plc was incorporated in 2014 and is headquartered in London, the United Kingdom.