TigerWit reports revenues increase of 24% for the financial year

UK-based global fintech firm TigerWit released its yearly metrics for the financial year ended on 31 March 2020.

The firm announced reaching US$27.5 million revenue this financial year, up 24% from the previous one. During the year, TigerWit also expanded its global network and partnerships and increased its presence in emerging markets around the world.

The increase in revenue achieved for the financial year, comes despite many challenges retails brokers have been faced recently such as stricter regulatory environment and the significantly changing regulation over the past 18 months.

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Tim Hughes, CEO at TigerWit, commented:

Tim Hughes

Tim Hughes

The last financial year has been both successful and transformational for the Group as we progressed our strategy of broadening our global footprint and further developing our technology. These investments position us to offer an innovative suite of trading and fintech products to retail investors around the world. This strategy is becoming a reality with our multi-jurisdiction regulation, establishment of regional partnerships and product innovation.

Hughes added:

Despite the uncertainty of what the global coronavirus pandemic presents, we have ensured we do our utmost to protect our employees by providing them with everything they need to be able to work safely from home. This financial year has commenced strongly in the face of today’s uncertain economic climate and we continue to grow, looking forward to the months and years ahead with great optimism.

The company also noted a few strategic achievements in the past year like new product launches such as cryptocurrencies additions and continued improvements of the mobile trading app. TigerWit also launched new employment program in conjunction with Liverpool FC and received their Type 3 licence from the Securities and Futures Commission in Hong Kong.

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