Mobile payment solutions provider sees 23% revenue increase.
In addition, it welcomes Rob Whittick as Chief Financial Officer.
Boku Inc.
(LON: BOKU) has announced higher revenues for the first half of 2024 and
appointed a new Chief Financial Officer (CFO) as the company continues its
expansion in the localized payment methods (LPMs) market.
Mobile Payments Company
Reports 23% Revenue Boost
The provider
of global mobile payment solutions, reported expected revenues of at least
$47.0 million for the six months ended June 30, 2024, marking a 23% increase
from $38.2 million in the same period last year. On a constant currency basis,
the growth was even more visible at 30%, primarily driven by increasing
transaction volumes from existing merchants.
"Boku
is targeting the $2.2 trillion market in cross border ecommerce, within which
it is predicted that 60% will occur using local payment methods by 2028,”
commented Stuart Neal, Boku's CEO. “Throughout H1 2024, we have continued to
make bold steps towards becoming the world's best network for localised payment
methods, including the creation of world leading licensed money movement
capabilities, due to complete in H1 2025.”
Neal is the
new president of Boku, having taken over the position at the beginning of this
year from Jon Prideaux.
The
company's carrier-related revenues, including Direct Carrier Billing (DCB) and
Bundling, showed continued resilience with double-digit growth compared to H1
2023. Digital Wallets and Account-to-Account (A2A) revenues saw a significant
uptick of over 50%, rising from $7.5 million in H1 2023, demonstrating
increasing adoption, including the notable launch of Google on BLIK in Poland.
Boku's
operational metrics also showed strong growth, with Monthly Active Users (MAUs)
of the Boku platform reaching 79.6 million in June 2024, a 30% increase from
61.2 million in June 2023. Total Payment Volume (TPV) rose to $5.8 billion in
H1 2024, up 17% from $5.0 billion in H1 2023, with an even higher growth of 26%
on a constant currency basis.
A
few months ago, the company also reported its results for the entire year of
2023, showing a 178% jump in profit and an increase in new customers by more
than 66 million. Boku closed the year with a pre-tax profit of $11.4 million.
The net profit was at $10.1 million, compared to $4.3 million in the previous
year
New CFO Joins Boku
In a
separate announcement, Boku revealed the appointment of Rob Whittick as its new
Chief Financial Officer, effective immediately. Whittick, a Chartered
Accountant, brings over 25 years of experience from Natwest Group plc, where he
held various senior roles, including Finance Director for Commercial and
Private Banking.
"He
brings with him a wealth of experience and knowledge, in particular financial
and operational expertise from within a large and complex organization,
invaluable as we progress our own scaling journey,” Neal welcomed Whittick to
the team.
The move
comes after the company's long-standing CFO, Keith Butcher, announced in early
May that he would retire after 40 years of service in the financial industry.
As Boku
continues to invest in its core back-end infrastructure throughout 2024 and
2025, the company aims to enable scalable growth over the next five years,
preparing for an acceleration in regulated A2A volumes and material increases
in cross-border transactions.
"I am
excited to be joining Boku at such an important time in the Company's
development,” added Whittick. “I look forward to working closely with Stuart
and the team to drive continued growth and innovation, and to contribute to
Boku's ongoing success."
Boku Inc.
(LON: BOKU) has announced higher revenues for the first half of 2024 and
appointed a new Chief Financial Officer (CFO) as the company continues its
expansion in the localized payment methods (LPMs) market.
Mobile Payments Company
Reports 23% Revenue Boost
The provider
of global mobile payment solutions, reported expected revenues of at least
$47.0 million for the six months ended June 30, 2024, marking a 23% increase
from $38.2 million in the same period last year. On a constant currency basis,
the growth was even more visible at 30%, primarily driven by increasing
transaction volumes from existing merchants.
"Boku
is targeting the $2.2 trillion market in cross border ecommerce, within which
it is predicted that 60% will occur using local payment methods by 2028,”
commented Stuart Neal, Boku's CEO. “Throughout H1 2024, we have continued to
make bold steps towards becoming the world's best network for localised payment
methods, including the creation of world leading licensed money movement
capabilities, due to complete in H1 2025.”
Neal is the
new president of Boku, having taken over the position at the beginning of this
year from Jon Prideaux.
The
company's carrier-related revenues, including Direct Carrier Billing (DCB) and
Bundling, showed continued resilience with double-digit growth compared to H1
2023. Digital Wallets and Account-to-Account (A2A) revenues saw a significant
uptick of over 50%, rising from $7.5 million in H1 2023, demonstrating
increasing adoption, including the notable launch of Google on BLIK in Poland.
Boku's
operational metrics also showed strong growth, with Monthly Active Users (MAUs)
of the Boku platform reaching 79.6 million in June 2024, a 30% increase from
61.2 million in June 2023. Total Payment Volume (TPV) rose to $5.8 billion in
H1 2024, up 17% from $5.0 billion in H1 2023, with an even higher growth of 26%
on a constant currency basis.
A
few months ago, the company also reported its results for the entire year of
2023, showing a 178% jump in profit and an increase in new customers by more
than 66 million. Boku closed the year with a pre-tax profit of $11.4 million.
The net profit was at $10.1 million, compared to $4.3 million in the previous
year
New CFO Joins Boku
In a
separate announcement, Boku revealed the appointment of Rob Whittick as its new
Chief Financial Officer, effective immediately. Whittick, a Chartered
Accountant, brings over 25 years of experience from Natwest Group plc, where he
held various senior roles, including Finance Director for Commercial and
Private Banking.
"He
brings with him a wealth of experience and knowledge, in particular financial
and operational expertise from within a large and complex organization,
invaluable as we progress our own scaling journey,” Neal welcomed Whittick to
the team.
The move
comes after the company's long-standing CFO, Keith Butcher, announced in early
May that he would retire after 40 years of service in the financial industry.
As Boku
continues to invest in its core back-end infrastructure throughout 2024 and
2025, the company aims to enable scalable growth over the next five years,
preparing for an acceleration in regulated A2A volumes and material increases
in cross-border transactions.
"I am
excited to be joining Boku at such an important time in the Company's
development,” added Whittick. “I look forward to working closely with Stuart
and the team to drive continued growth and innovation, and to contribute to
Boku's ongoing success."
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
Ebury Kicks Off Partnership with AS Monaco for Upcoming Ligue 1 Season
Transformation in the APAC Trading Landscape and Beyond | FMPS:24
Transformation in the APAC Trading Landscape and Beyond | FMPS:24
As the financial services industry experiences rapid and transformative changes, leading fintech experts and policymakers come together to discuss the present and future of retail trading and the evolving regulatory landscape. Join this insightful session for a forward-looking perspective on the trends, innovations, and trader needs that are shaping the future of offerings on a global scale.
Speakers:
Eric Blewitt, CEO, Investment Trends
Rhys Bollen, Senior Executive Leader, Digital Assets, Australian Securities and Investments Commission (ASIC)
Michael Bogoevski, Head of Institutional Sales, CMC Connect
Karin Setchell, General Manager, Product & Investing Solutions, CommSec
#fmps #fmps24 #fmevents #RetailTrading #FintechInnovation #FinancialRegulation #DigitalAssets #GlobalFinance
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
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Don't miss out on our latest videos, interviews, and event coverage.
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As the financial services industry experiences rapid and transformative changes, leading fintech experts and policymakers come together to discuss the present and future of retail trading and the evolving regulatory landscape. Join this insightful session for a forward-looking perspective on the trends, innovations, and trader needs that are shaping the future of offerings on a global scale.
Speakers:
Eric Blewitt, CEO, Investment Trends
Rhys Bollen, Senior Executive Leader, Digital Assets, Australian Securities and Investments Commission (ASIC)
Michael Bogoevski, Head of Institutional Sales, CMC Connect
Karin Setchell, General Manager, Product & Investing Solutions, CommSec
#fmps #fmps24 #fmevents #RetailTrading #FintechInnovation #FinancialRegulation #DigitalAssets #GlobalFinance
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
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▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
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Executive Interviews with Joe Li & Simon Naish | ATFX | FMPS:24
Executive Interviews with Joe Li & Simon Naish | ATFX | FMPS:24
In this Finance Magnates Executive Interview, Joe Li, Chairman at ATFX and Simon Naish, Country Head of Australia at ATFX Connect, discuss ATFX’s strategic growth in the APAC region, particularly focusing on their institutional arm, ATFX Connect. They highlight the importance of Australia as a strategic hub, the challenges of operating in a highly competitive and regulated market, and their plans for regional expansion across APAC. The conversation touches on the integration of advanced technology and multi-asset offerings, the significance of optimal execution tools, and the importance of tailoring solutions to meet the sophisticated demands of institutional clients. They also emphasize their strong regulatory compliance and their commitment to enhancing client experience through innovative tools and infrastructure.
#fmps #fmps24 #fmevents #ATFXConnect #APACFinance #InstitutionalTrading #FinancialTechnology #MarketExpansion
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage.
Subscribe to our YouTube channel for more!
In this Finance Magnates Executive Interview, Joe Li, Chairman at ATFX and Simon Naish, Country Head of Australia at ATFX Connect, discuss ATFX’s strategic growth in the APAC region, particularly focusing on their institutional arm, ATFX Connect. They highlight the importance of Australia as a strategic hub, the challenges of operating in a highly competitive and regulated market, and their plans for regional expansion across APAC. The conversation touches on the integration of advanced technology and multi-asset offerings, the significance of optimal execution tools, and the importance of tailoring solutions to meet the sophisticated demands of institutional clients. They also emphasize their strong regulatory compliance and their commitment to enhancing client experience through innovative tools and infrastructure.
#fmps #fmps24 #fmevents #ATFXConnect #APACFinance #InstitutionalTrading #FinancialTechnology #MarketExpansion
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
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Ready to Scale? Regtech in Australia, A Global View | FMPS:24
Ready to Scale? Regtech in Australia, A Global View | FMPS:24
In the effort to elevate Australian fintech on the global stage, RegTech presents a unique and compelling case. Despite the increasing demand for robust compliance solutions, Australia's RegTech sector—ranked third-largest globally—remains underfunded. Join this insightful fireside chat to explore the future of Australia’s RegTech hub and its global potential.
Key discussion points include uncovering the hidden opportunities in RegTech that VCs are overlooking, the necessary steps for increased governmental support, the readiness of the local ecosystem to collaborate across global regulatory regimes, and lessons learned from other leading fintech hubs around the world.
Speakers:
Dickie Currer, National Lead, Tech Australia Advocates
Deborah Young, CEO, The RegTech Association
#fmps #fmps24 #fmevents #RegTech #Fintech #AustralianFintech #GlobalCompliance #TechInnovation
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
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Don't miss out on our latest videos, interviews, and event coverage.
Subscribe to our YouTube channel for more!
In the effort to elevate Australian fintech on the global stage, RegTech presents a unique and compelling case. Despite the increasing demand for robust compliance solutions, Australia's RegTech sector—ranked third-largest globally—remains underfunded. Join this insightful fireside chat to explore the future of Australia’s RegTech hub and its global potential.
Key discussion points include uncovering the hidden opportunities in RegTech that VCs are overlooking, the necessary steps for increased governmental support, the readiness of the local ecosystem to collaborate across global regulatory regimes, and lessons learned from other leading fintech hubs around the world.
Speakers:
Dickie Currer, National Lead, Tech Australia Advocates
Deborah Young, CEO, The RegTech Association
#fmps #fmps24 #fmevents #RegTech #Fintech #AustralianFintech #GlobalCompliance #TechInnovation
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
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Resilience in Trading: From Third Class To World Class | FMPS:24
Resilience in Trading: From Third Class To World Class | FMPS:24
Join Mario Singh, Founder and Chairman of Fullerton Markets, as he shares his life story, highlighting the traits that were required starting without financial knowledge to become a financial and trading expert recognised by world-renowned media like CNBC & Bloomberg.
#fmps #fmps24 #fmevents #trading #onlinetrading #tradingexpert #tradingjourney
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
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▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage.
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Join Mario Singh, Founder and Chairman of Fullerton Markets, as he shares his life story, highlighting the traits that were required starting without financial knowledge to become a financial and trading expert recognised by world-renowned media like CNBC & Bloomberg.
#fmps #fmps24 #fmevents #trading #onlinetrading #tradingexpert #tradingjourney
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
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IBs and Brokers: The Good, The Bad, The Ugly | FMPS:24
IBs and Brokers: The Good, The Bad, The Ugly | FMPS:24
For most brokers, IBs and trading educators are invaluable partners, driving highly targeted traffic from key regions. However, without proper management, these relationships can quickly turn sour. In this session, gain an insider’s perspective on the types of licenses IBs need in APAC, the crucial details in IB agreements that both parties must scrutinize, common disputes between IBs and brokers and effective resolutions, and the pros and cons of transitioning from IB to broker.
Speakers:
Melody Gao, Senior Lawyer, Sophie Grace
James Perry-Keene, Head of Strategic Partnerships, Pepperstone
Christopher Balanzategui, CEO, N3tworx
#fmps #fmps24 #fmevents #IBAgreements #BrokerPartnerships #TradingIndustry #APACFinance #FinancialRegulation
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For most brokers, IBs and trading educators are invaluable partners, driving highly targeted traffic from key regions. However, without proper management, these relationships can quickly turn sour. In this session, gain an insider’s perspective on the types of licenses IBs need in APAC, the crucial details in IB agreements that both parties must scrutinize, common disputes between IBs and brokers and effective resolutions, and the pros and cons of transitioning from IB to broker.
Speakers:
Melody Gao, Senior Lawyer, Sophie Grace
James Perry-Keene, Head of Strategic Partnerships, Pepperstone
Christopher Balanzategui, CEO, N3tworx
#fmps #fmps24 #fmevents #IBAgreements #BrokerPartnerships #TradingIndustry #APACFinance #FinancialRegulation
📣 Stay updated with the latest in finance and trading!
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