London FinTech Cornerstone FS Plc expects to grow 87% in 2022 thanks to a mix of organic growth and acquisitions.
The AIM-listed company, a cloud-based provider of international payment, currency risk management and electronic account services to SMEs, expects to report total revenue for 2022 of approximately £4.3 million.
The company acquired Capital Currencies Ltd and Pangea FX Ltd this year.
It said the growth in revenue was driven by clients that the group serves directly, which is expected to account for approximately 78% of total revenue compared with 56% in 2021.
“A key contributor to this was the group’s Asia team that was brought on board in the second half of 2021 as well as the contributions from Capital Currencies and Pangea FX,” it said.
“The change to majority direct revenue has had a positive impact on the group’s gross margin, which is expected to improve to approximately 61% for 2022 compared with 52% for 2021.”