Lisbon, April 8, 2025 (Lusa) - The turnover of Portuguese payment technology company Ifthenpay last year increased by 27% from the previous year, to €7.1 million, while its gross profit was up by 28% to €2.4 million, the company announced in a statement relesaed on Tuesday.
In the statement, the company notes that the value of payments handled grew by 19% in 2024, to more than €1.5 billion.
The number of organisations subscribing to the fintech company's services grew by 10%, ending 2024 with 29,960 clients.
According to the company, the results reflect "the resilience and growth of e-commerce" in its markets.
In 2024, the recurring earnings before interest and taxes (EBIT) of the company, which is based in Santa Maria da Feira, in Aveiro district, where it plans to open a new headquarters soon - grew 28% to €2.4 million.
For this year, the company estimates a 25% increase in turnover, EBIT and payment volume, to €8.9 million, €3.0 million and €1.875 million respectively.
The strategy for 2025 is largely based on the internationalisation of the business, explained Ifthenpay's co-founders, Nuno Breda and Filipe Moura, at a meeting with journalists in Lisbon.
In this way, they expect the turnover abroad to account for 15% of the total this year.
The main foreign markets for this year are Spain and Croatia, with the two co-founders stressing that joining the Payten group in October 2023 had contributed to expansion.
By the end of this year, Ifthenpay wants to advance with new products and technologies, including support for Pix payments and, in the future, Bizum. While Pix, which is designed with consumers with accounts at Brazilian banks in mind, is still used "very little" according to the pair, the bet on Bizum is seen as boosting its entry into the Spanish market.
Ifthenpay is still working on implementing the regulation on the digital operational resilience of the financial sector in the European Union (DORA), but Moura noted that there has been some difficulty because suppliers also have to comply with these standards.
The company also released its financial results for the first three months of this year, with a year-on-year increase of 25% in turnover (to €2.0 million), 26% in EBIT (to around €700,000) and 23% in payment volume handled, at €480 million.
OJ/ARO // ARO.
Lusa
