Highlights:
-- $5.3m in quarterly sales revenue – new record and up 49% year-on-year
-- Processing revenue up 100%+ year-on-year – marks 10 straight record quarters
-- $19.9m - cash balance at the end of the quarter
-- $40m+ capital raise completed
-- Agreed terms for acquisition of leading SE Asian fintech ATX, with further acquisitions being assessed
-- Continued international expansion with Verv in the EU and Ripple in South East Asia
-- Discussions commenced with Reckon on servicing their customer needs following strategic investment
-- $10.5m committed in Series A funding round for new banking business – working with regulator for final approval
-- Acquiring business live and generating revenue
Novatti Group Limited (ASX:NOV) (Novatti or Company), a leading fintech enabling businesses to pay and be paid, is pleased to provide an update on its September FY22 quarter performance. Commenting on the results, Novatti Managing Director, Peter Cook, said: “The September quarter saw Novatti take another leap forward on its growth journey. Our existing business operations continue to generate strong growth, with quarterly sales revenue of $5.3m, up 49% year-on-year and breaking through the $5m mark for the first time. These results continue to be supported by the strength of Novatti’s processing business, which recorded year-on year quarterly growth of more than 100%.”
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