Posted on July 30, 2019 by staff

FinTech firm Prepaid Financial Services reports €72.5m turnover


FinTech firm Prepaid Financial Services has reported a €72.5m turnover in 2018 in its 11th consecutive year of profitability.

The firm, which was named the overall Digital Technology Award winner for 34 countries at the European Business Awards 2017/2018 has also been named a ‘One to Watch’ in the opening round of the European Business Awards 2019.

Last year, the firm’s CEO Noel Moran won European CEO European Entrepreneur of the Year for the second time.

“The company has seen a major surge in business across Europe with revenue, sales and EBITDA all increasing at a strong rate in 2018,” said Moran.

“We continue to stand out as a FinTech having returned profits for 11 years in a row.

“It is a fantastic credit to all our staff who have got us to where we are today. We are well positioned to surpass the €100 Million revenue mark in 2019.”

Lee Britton, Commercial Director at PFS commented: “The figures confirm we have benefitted from a growing market for an experienced electronic money and payment technology provider.

“As one of the longest established FinTechs, PFS remains a leader across a number of sectors from corporate to FinTech, traditional banking to challengers as well as the local authority space in the UK where we have the largest market share.”

Valerie Moran, head of operations and client relations at PFS, said: “We continue to tap into new and growing markets, with wearables becoming an exciting area for payments.”

Moran, the only black woman ever to feature the Sunday Times Rich List, recently spoke to BusinessCloud about lack of support for diverse entrepreneurs, and said education is key to reducing the diversity gap.