Trust Payments has reported a 73 per cent increase in its total revenues as staff numbers double.
Its financial statements and reports for 2021 have shown signs of significant company growth over the last year, detailing specific increases across total and net revenues.
Trust Payments’ net revenues have shot up 73 per cent since 2020, sitting currently at £70.2million
Its total revenue for 2021 was £108.7million, up from £62.7million the year before.
Statements also report net merchant volume retention of over 100 per cent and driving adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) for the year up 105 per cent to over £20million.
Daniel Holden
Daniel Holden, group CEO of Trust Payments, said: “It’s been an incredible year for Trust Payments. We’ve delivered outstanding financial growth, doubled our headcount, and expanded the depth and breadth of our product suite, to become a leading fintech disruptor.”
“We’ve now built a robust platform for scale across multiple industries, and through our acquisitions, have deepened our ability to support them: whether through integrated ePOS solutions or a direct-to-consumer e-commerce platform for merchants to accelerate their revenues. The future looks bright for blending commerce and payments and in 2022 we’re well-positioned to offer just this,” he continued.
Despite the economic uncertainty stemming from the coronavirus pandemic, the company managed to double its staff headcount from 214 people to 428 over the last year and has opened up six new offices across the UK, EU and US.
As is the main narrative throughout its most recent statements, the business grew across all three markets as more merchants recognised the need for digitisation of payments and commerce, partially fuelled by the rise in contactless spending and the need to meet growing customer demand for what the company describes as ‘converged commerce’ experiences.
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