Equals Money trading update

Equals Group announces a positive trading update with revenues up 59%

Anna Meehan
Anna Meehan 17 January 2023

We're pleased to announce a positive trading update for the year ended 31 December 2022. Unaudited revenues for 2022 were £69.7 million, an increase of 59% from the previous year.

2022 saw a continued investment in Equals Solutions, the Group's money movement solution for corporate clients, as well as the acquisition of back-end payments company Roqqett. The Company also introduced several new products, including virtual cards, to make money movement simple for its customers.

Equals Group has plans in 2023 to continue to invest in its product offering and make money movement as easy as possible for businesses, all the while keeping customer experience at the heart of their mission. 

The Group will also continue investment in API infrastructure and Payments as a Service (PaaS) functionality to improve and expand the capabilities of the online platform. 

2023 will also bring international expansion for Equals Group. 

Ian Strafford-Taylor, Chief Executive Officer of Equals Group, commented on the Trading Update, saying: “We have delivered a particularly strong financial performance in 2022 as the Group reaped significant benefits from operational gearing and economies of scale. This has been made possible as a result of prudent and sustained investments into the proposition, specifically technology and connectivity, since 2018. That investment continued throughout 2022, supporting and enabling rapid growth, and will continue through 2023 as we target investment into an exciting roadmap of product development and growth initiatives that will expand our capabilities. We look forward to this year and beyond with confidence in our proposition, our teams, our technology and, ultimately, our sustained growth prospects.”

Please see Regulatory News Service (RNS) announcement here.

The Group’s continued profitability allows for continued investment in enhancing its customer experience through product offerings, and security and compliance measures.

Go to Equals Money