OpenPayd announced over 100% growth for a second consecutive year as it reached profitability and generated over €40 million ARR.
OpenPayd’s embedded finance research reinforces that three quarters of all digital businesses across both the UK and Europe will launch embedded finance solutions in the next five years, with market revenues expected to hit over €600 billion, across a global addressable market worth over €7 trillion.
With its technology and licence infrastructure, the company is positioned to capture this demand and power the growth of the digital economy.
The platform, now processing over €50 billion volume annually, is proven at scale and proudly serves global brands such as eToro, OKX and Libertex.
By embedding financial services into existing product offerings, businesses increase the touchpoints and stickiness with their customers.
Financial services is changing from historically being a cost centre, to becoming a revenue generator.
As digital transformation accelerates faster than ever and advanced technologies such as blockchain and AI create entire new industries, the total addressable market for embedded finance is poised to expand exponentially.
“Embedded finance is revolutionising how businesses interact with customers, by providing seamless financial services through their platforms,” says Iana Dimitrova, CEO of OpenPayd at Money2020 Europe.
“Our significant growth reflects the increasing demand for integrated financial solutions and our commitment to delivering unparalleled value and support to our clients. The business, now in a profitable position, is ready to reach new heights in this financial year.”
OpenPayd has recently announced it is powering prominent Web3 money app, Wirex, to provide virtual IBANs to its customers in 30+ countries, and partnership with TrueLayer, to enhance its real-time payments offering.
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