ETX Capital sees 48% rise in revenue for 2020

ETX Capital has published its 2020 results. The London-based company reported solid performance and successful launch of the new corporate brokerage business.

The company’s total revenue was up by 48% in 2020 to £31.8 million compared with the previous year of £21.4 million.  Active clients increased by 3% to 10,354 and client assets grew by 57% to a record £225 million.

Throughout the year, ETX Capital showed resilience in its business model and continued to operate a flexible work police during this time when the company’s staff had to work remotely due to Covid-19.

Chief Executive Officer, Philip Adler, stated:

Philip Adler, ETX Capital

Philip Adler
Source: LinkedIn

The year has been truly eventful, I am very pleased with our results and the team performance during COVID and we finished on a high with the acquisition of ETX Capital by Swiss based private equity firm Guru Capital which helped set our new vision and initiatives.

In May 2021, ETX Capital acquired all assets of UK fintech Oval Money. The acquisition will allow ETX to offer a full suite of financial products and services to a larger audience.

In 2021, the company will focus on the integration of the ETX and Oval businesses. This move will further strengthen the its products and services. During the next financial year, ETX revealed that it will invest in technology to better support the existing clients as well as help scale its business throughout the UK and as it expands into Europe.

In July, ETX Capital obtained a licence from the Financial Sector Conduct Authority (FSCA), allowing the company to operate in in South Africa as a financial service provider.

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