Inpay net profits rise by 50% image credit: shutterstock

Inpay, the Danish cross-border payments provider, has reported a 23% rise in revenues for fiscal 2023 to €60.1m. EBITDA is ahead by 57% to €13.0m in 2023, up from €8.3 in 2022.

Net profit rises by 50% y-o-y to €8.5m. Inpay says that it now exceeds an average of 1 million monthly transactions.

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Thomas Jul, CEO said: “Our strong financial results in 2023 are a testament to the more efficient operating model that we have developed in readiness for our next growth phase. Having unlocked great insights into the verticals we serve, we now power our growth with an even deeper understanding of what our key markets demand. This has allowed our organisation to prepare for scaling, effectively as well as efficiently; delivering increased value to customers at an even higher pace.”

Expansion of global markets and local markets

In 2023, Inpay delivered against its network expansion strategy. It successfully integrated 18 new local markets into its cross-border payments offering. The company now plans to add an additional 60 countries over the course of 2024. International expansion includes a local presence in Dubai, supporting Inpay’s strategic growth plans in the Middle East. Looking ahead, Inpay aims to expand its local presence to Asia Pacific, Latin America, and North America.

A transformational year

Inpay will continue to serve its main verticals within iGaming, Financial Services, Corporates and NGOs. It says that 2023 was a transformational year, completing a full technology refresh as well as the commercial and product teams undergoing a transformation designed to drive vertical-specific product and service delivery.

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