The company’s revenues jumped to NIS 7.85 million, compared with NIS 3 million in 2020. Operating profit grew significantly from NIS 250,000 in 2020 to NIS 1.5 million in 2021.
The fintech company Financial Technologies publishes the financial results for 2021 while showing an increase in all financial parameters from the income line to significant growth in operating profit and Adjusted EBITDA. The net profit was affected by non-recurring expenses related to the issue, in which the company successfully raised a total of NIS 21 million in October (gross consideration). The company has met all the goals it has set for itself for 2021
The company’s revenues jumped to NIS 7.85 million, compared with NIS 3 million in 2020. Operating profit grew significantly from NIS 250,000 in 2020 to NIS 1.5 million in 2021. Adjusted EBITDA (which enables comparable operating performance) increased 4.5 times to NIS 1.95 million, compared with NIS 0.43 million in 2020. As of the end of 2021, the company has a cash balance and free cash value of NIS 18.5 million.
The company has developed a technological payment platform and operates in the evolving field of buy-now-pay-later (BNPL). The company’s activity is in accelerated growth resulting from the company’s business model