Equals Group Reports Substantial Increase in Revenues

Financial technology payments group focused on the SME marketplace, Equals reported its financial numbers for the period from 1 January 2021 to 6 December 2021 (year to date) today.

For the mentioned period, Equals Group posted revenues of £40.4 million, which is 51% higher compared to the same period in 2020. Between 1 October and 6 December 2021, the total revenue of the group climbed by more than 105% compared to the same period last year.

Non-travel-related revenues saw sharp gains in 2021. Moreover, travel-related revenues jumped between 1 January 2021 and 6 December 2021. Equals Group witnessed consistent growth in revenues throughout 2021.

“Underlying revenues rose by 45% over the year to date and 78% in the Period to date. These significant increases have been largely driven by strong demand for the Group’s ‘Equals Solutions’ proposition, the new multicurrency product aimed at larger businesses, which has generated £3.1 million in the year to date and £1.2 million in the Period alone; along with substantial growth in both the Group’s Spend platform and its white-label business,” Equals Group highlighted.

Business Growth

To accelerate its growth, Equals Group aims to re-invest and upgrade the sales function of the business. For the mentioned period, the group exceeded all the forecasts related to its growth. According to the company, its Board is confident about the performance in the final days of 2021 and fiscal year 2022 (FY22).

Ian Strafford-Taylor, Chief Executive Officer at Equals, said: “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.”