Friday, 30th May, Nicosia: ISX Financial EU PLC ("ISXPlc") is pleased to present its 2024 Audited Annual Report and Managing Director’s letter to shareholders for the year 2024.
Note to shareholders from ISXPlc Chief Executive Officer & Managing Director, Nikogiannis Karantzis.
"Dear Shareholders,
The 2024 financial year demonstrated ISX’s ability to further grow and commence scaling as a multi-territory provider of ‘nearly instant’ transactional banking services.
Building upon FY2024, and despite global market turbulence, FY2025 is delivering continued momentum driven by strategic growth initiatives, the rollout of new products and services, and operational achievements.
2024 was a year of disciplined execution and strategic acceleration. We advanced our position as a Tier 1 banktech provider, deepened our infrastructure capabilities, and expanded the reach of our real-time payments and Open Banking platforms. These results are a testament to the strength of our business model, the innovation embedded in our technology stack, and the exceptional calibre of our team, which we expanded with key personnel. As we look to 2025, our focus remains clear: scaling with precision, investing in next-generation capabilities, and delivering resilient value to our clients, partners, and shareholders. I extend my sincere thanks to all our stakeholders for their continued trust and confidence.
I am very proud to report the progress we made in 2024 — a record-breaking year across nearly every key metric of our business. What began with what we believed was an ambitious revenue target of €45 million quickly evolved into something greater. We revised our guidance twice during the year and ultimately closed 2024 with €58.7 million in total revenue — representing 81% year-on-year growth.
Gross Processed Volume (GPV) of electronic money exceeded €4.2 billion, marking a 78% increase and highlighting the accelerating demand for instant payments.
Total Processed Transactions (TPV) processed by our Probanx subsidiaries on behalf of ISXPlc, other banks and financial institutions exceeded €65 Billion, demonstrating the scalability of our interbank-central bank solutions.
On behalf of the Board of Directors, I am pleased to present the 2024 Annual Report. It reflects a year of exceptional performance and strategic delivery — our sixth consecutive year of profitability and our most successful since demerging in 2021. Our focus on disciplined growth, product innovation, and operating excellence has positioned ISX Financial EU Plc as a leading player in the banktech and payments sector.
2024 was a transformative year. ISXPlc’s revenue growth, margin performance, and product delivery exceeded expectations. At the same time, ISXPlc deepened its investment in innovation and reaffirmed our role as a trusted, responsible financial technology provider. These results are a reflection of ISXPlc’s incredible team, the trust of its clients, and the support of our partners and shareholders.
Thank you all for your continued support in ISXPlc and we look forward to building on this success and achieving even more in 2025."
Nikogiannis Karantzis
Managing Director and Chief Executive Officer
ISX Financial EU Plc
2024 Annual Report Highlights:
To view the 2024 ISX Financial EU PLC Annual Report please click below:
Group operating subsidiaries include ISX Financial UK Ltd, ISX Financial EU PLC (CY), Probanx Solutions Ltd (CY) & UAB Probanx Solutions (LT), UAB Authenticator (LT), ISX Technologies Inc (USA). ISX Financial UK Ltd, trading as Flykk, ISX Money and ISXPay, is a FCA UK Authorised eMoney Institution FRN 901034. ISX Financial EU PLC, trading as Flykk, ISX Money and ISXPay, is authorised by the Central Bank of Cyprus # 115.1.3.17 as an E.E.A Authorised eMoney Institution and UK FCA FRN 900871 .
℗ Patent applications pending/granted in Africa, Australia, Asia, The Americas, Europe and Oceania. ISX Financial®, ISXPay®, Probanx®, Flykk® & Paydentity™ are registered trademarks of ISX IP Ltd.