The broker is moving towards rebranding, the CEO revealed.
Its total share capital is now £8.22 million.
The existing shareholders of Valutrades Limited, the London-based entity operating the broker brand Valutrades, have injected £823,499 (about US$1 million) into the company with a fresh share allotment, the latest Companies House filings today (Friday) show. The company will use the funds towards its rebranding.
A Rebranding Is on the Way
"The additional capital will be used to support some exciting new developments, including a global rebrand and a totally new technology stack. We can't wait to share more about these in the coming months," Graeme Watkins, the CEO of Valutrades, told Finance Magnates.
The new funding came from existing shareholders led by Anil Bahirwani, the Founder of Valutrades and a couple of other financial services companies. Aman Lakhiani, an existing investor, and Watkins, who has been running the broker since 2015 as the CEO, continue to hold stakes in the brokerage.
The new shares in the company were allocated on 27 September, taking its total share capital to £8.22 million.
Broker's Revenue Increased Significantly
The Valutrades brand operates with two licenses, one from the United Kingdom's Financial Conduct Authority and the other from the regulator in the Seychelles. The offerings under both entities are more or less the same: it offers trading services with margin forex and contracts for differences of other asset classes.
The Valutrades website is available in five languages: English, Spanish, Portuguese, Mandarin, and Japanese, which shows that it has extensive clientele across the globe.
Another recent Companies House filing by the UK entity of Valutrades revealed its financials for 2022 when its revenue increased by 45 percent to £6.48 million. Although the company posted a gross profit of £3.5 million compared to £2.2 million in the previous year, its expenses took a huge bite out of that, resulting in the pre-tax profit at £552,405, although it's still a yearly increase of about 19 percent.
As seen on the income statement of the company, its administrative expenses for 2022 ascended to £3 million from £2.6 million in the previous year. The UK entity ended the year with a net profit of £735,007, compared to a loss of £471,549 in 2021.
"Looking forward, the end of 2022 and the beginning of 2023 has highlighted the volatile nature of monthly income. However, overall year-to-date performance is now where we expect it to be, with a positive March and April," the filing stated.
"There's no sign of a slowdown in volatility with recent bank failures the latest factor to continue the increased volatility in global financial markets, and Valutrades expects this to impact positively on Valutrades profitability."
The existing shareholders of Valutrades Limited, the London-based entity operating the broker brand Valutrades, have injected £823,499 (about US$1 million) into the company with a fresh share allotment, the latest Companies House filings today (Friday) show. The company will use the funds towards its rebranding.
A Rebranding Is on the Way
"The additional capital will be used to support some exciting new developments, including a global rebrand and a totally new technology stack. We can't wait to share more about these in the coming months," Graeme Watkins, the CEO of Valutrades, told Finance Magnates.
The new funding came from existing shareholders led by Anil Bahirwani, the Founder of Valutrades and a couple of other financial services companies. Aman Lakhiani, an existing investor, and Watkins, who has been running the broker since 2015 as the CEO, continue to hold stakes in the brokerage.
The new shares in the company were allocated on 27 September, taking its total share capital to £8.22 million.
Broker's Revenue Increased Significantly
The Valutrades brand operates with two licenses, one from the United Kingdom's Financial Conduct Authority and the other from the regulator in the Seychelles. The offerings under both entities are more or less the same: it offers trading services with margin forex and contracts for differences of other asset classes.
The Valutrades website is available in five languages: English, Spanish, Portuguese, Mandarin, and Japanese, which shows that it has extensive clientele across the globe.
Another recent Companies House filing by the UK entity of Valutrades revealed its financials for 2022 when its revenue increased by 45 percent to £6.48 million. Although the company posted a gross profit of £3.5 million compared to £2.2 million in the previous year, its expenses took a huge bite out of that, resulting in the pre-tax profit at £552,405, although it's still a yearly increase of about 19 percent.
As seen on the income statement of the company, its administrative expenses for 2022 ascended to £3 million from £2.6 million in the previous year. The UK entity ended the year with a net profit of £735,007, compared to a loss of £471,549 in 2021.
"Looking forward, the end of 2022 and the beginning of 2023 has highlighted the volatile nature of monthly income. However, overall year-to-date performance is now where we expect it to be, with a positive March and April," the filing stated.
"There's no sign of a slowdown in volatility with recent bank failures the latest factor to continue the increased volatility in global financial markets, and Valutrades expects this to impact positively on Valutrades profitability."
Arnab is an electronics engineer-turned-financial editor. He entered the industry covering the cryptocurrency market for Finance Magnates and later expanded his reach to forex as well. He is passionate about the changing regulatory landscape on financial markets and keenly follows the disruptions in the industry with new-age technologies.
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FMLS:24 | Shaping the Next Era of Financial Evolution
FMLS:24 | Shaping the Next Era of Financial Evolution
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FMLS:24 | Shaping the Next Era of Financial Evolution
FMLS:24 | Shaping the Next Era of Financial Evolution
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
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Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
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FM's Andrea Badiola Mateos at LSEG's Cyprus event
FM's Andrea Badiola Mateos at LSEG's Cyprus event
FM's Andrea Badiola Mateos at speaking in a panel discussion at LSEG's Cyprus event
FM's Andrea Badiola Mateos at speaking in a panel discussion at LSEG's Cyprus event
The Role of PAMM, MAM & Copy Trading in Business Growth Strategies | Webinar
The Role of PAMM, MAM & Copy Trading in Business Growth Strategies | Webinar
The copy trading market is projected to double in size, growing from $2.2 billion to $4 billion by the end of this decade. In light of this, brokers and financial institutions are increasingly adopting PAMM, MAM, and Copy Trading solutions to scale operations and drive profitability. In this insightful webinar, Sergey Ryzhavin, Product Owner at B2COPY, outlines the advanced features of the B2COPY platform, showcasing how it enhances Copy Trading, PAMM, and MAM performance. Sergey also explores strategies for using these tools to attract new clients, improve customer engagement, and create additional revenue streams.
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The copy trading market is projected to double in size, growing from $2.2 billion to $4 billion by the end of this decade. In light of this, brokers and financial institutions are increasingly adopting PAMM, MAM, and Copy Trading solutions to scale operations and drive profitability. In this insightful webinar, Sergey Ryzhavin, Product Owner at B2COPY, outlines the advanced features of the B2COPY platform, showcasing how it enhances Copy Trading, PAMM, and MAM performance. Sergey also explores strategies for using these tools to attract new clients, improve customer engagement, and create additional revenue streams.
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Join us at FMLS:24 to connect with global institutional brokers. Secure your spot today! #fmls24
Join us at FMLS:24 to connect with global institutional brokers. Secure your spot today! #fmls24