Fintech and help companies agency Fintel reported a 4% rise in complete income development in 2022 regardless of what it termed “the difficult macroeconomic local weather.”

Income development climbed £2.6m to £66.5m for the 12 months to 31 December.

in an finish of 12 months buying and selling replace to 31 December 2022, the dad or mum firm of SimplyBiz and Defaqto stated it outperformed analysts’ expectations by £2.4m.

Matt Timmins, joint chief government of Fintel, stated: “2022 has been a 12 months of continued strategic progress and robust buying and selling. The enterprise has carried out nicely, with each income and earnings development in keeping with the board’s expectations, regardless of the difficult macroeconomic local weather.”

Core income development climbed 8% to £56.4m from £52.2m in 2021, Fintel stated.

Mr Timmins stated: “Continued enhancement and enlargement of our know-how and repair platform has contributed to elevated Core SaaS and subscription earnings throughout all working divisions.”

He stated the corporate had been recognised because the “Finest Skilled Adviser Service Firm of the Yr” for the fifth consecutive 12 months, in addition to being accredited as an “Excellent Firm to Work For” by Finest Corporations.

The corporate additionally reported a web money place of £12.8m, up from £2.5m.

It stated it had accomplished an elevated 4 12 months £80m revolving credit score facility in December 2022, up from £45m and “on extra beneficial phrases.”

The corporate stated the brand new, larger facility will present “important, versatile funding capability for development alternatives arising available in the market.”

It stated a selective M&A pipeline is anticipated to boost earnings and development alternatives within the medium time period.

Mr Timmins stated: “Our resilient working cashflow conversion, mixed with our enhanced funding capability present appreciable monetary agility as we pursue strategic acquisitions, and we stay assured that Fintel is in a powerful place to ship each our strategic targets and development ambitions.”

SimplyBiz rebranded as Fintel in March 2021, following its acquisition of fintech Defaqto and a better give attention to monetary know-how. 

Fintel will announce its full 12 months outcomes for the 12 months ended 31 December 2022 on 21 March 2023.

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