Realex revenues grow 45pc to €14.2m as overseas expansion accelerates

29 Oct 20133 Shares

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Realex founder and CEO Colm Lyon

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Dublin-headquartered pan-European e-payments enabler Realex has reported a 45pc increase in revenues to €14.2m, up from €9.7m last year.

Profit after tax was €1.24m. The company is now enabling more than 12,000 online retailers, with more partnership deals on the way.

In recent months, the company, which is regulated by the Central Bank of Ireland, announced a major managed gateway solution with Elavon Financial Services, not long after winning an earlier such deal with Global Payments.

The deal involves Realex providing a fully-branded, localised, online multi-channel gateway for businesses across Europe.

Realex is now processing more than €24bn a year in transactions on behalf of the 12,000 retailers.

Realex said the rise in revenues is due to its strategic overseas expansion, with overseas retailers now representing 60pc of the company’s business.

The company’s UK operation reported a 120pc increase in revenue.

Founder and CEO Colm Lyon said: “Over the last two years, we have seen the benefit of our strategic plans take effect. We are selling more than ever, via direct and new distribution channels and in more regions. In particular, our corporate offering is now recognised as a leading holistic solution, in addition to the partnership deals that we have formed.

“We are very optimistic about continuing to grow the business and with over 170 employees we are preparing to bring some significant new developments to market, helping our clients to be paid, in a less expensive and enhanced fashion. In particular, we are investing heavily in the UK operations and will be doubling the head count based in our London office over the coming 12-18 months,” Lyon said.

Editor John Kennedy is an award-winning technology journalist.

editorial@siliconrepublic.com