IFTHENPAY HAS HANDLED MORE THAN 317 MILLION EUROS

IFTHENPAY HAS HANDLED MORE THAN 317 MILLION EUROS AND REGISTRED A STRONG GROWTH OF 39% UNTIL THE END OF THE THIRD QUARTER

• Accumulated volume of payments increased 39% and the billing volume registered a growth of 25% during the third quarter of 2018;

• Company confirms the forecast to handle more than € 418,000,000 in payments until the end of this year.

Lisbon / Santa Maria da Feira, November 13, 2018 – IFTHENPAY, the Fintech Portuguese company, specialized in the emission and management of multibanco references shared by companies and leader in this market segment in Portugal, announces today that it has registered a growth of 25% in volume of billing and more than 39% in the volume of payments accumulated during the third quarter of 2018, compared to the same period of last year.

During the third quarter of 2018, the volume of cumulative payments amounted to € 317,333,651 (more € 89,308,366 than in the third quarter of 2017); and the volume of invoicing was 1,292,036 € (more 254,765 € than in the same period in 2017).

With a total of around € 1,268,045,627 of total cumulative payments today, IFTHENPAY, which in April of this year became the first Portuguese Fintech to exceed the 1 billion euro of cumulative total of payments, predicts to reach the end of the year with approximately 13,500 entities adhering to its service throughout the national territory and also abroad and moving more than 418,000,000 euros in payments.

The company, which had celebrated last October the 13th anniversary of its first payment made with its multibanco references was this year's speaker at the prestigious Money Conference event, which also took place in October in Lisbon.

The managers of the company are very happy with the results achieved, and they maintain the forecast for the accelerated growth and innovation for the year 2018, in line with what the company has been achieving in previous years, and are planning to present the results of 2018 during the first quarter of 2019, on a date to be announced soon.

"The strong growth achieved by IFTHENPAY in the various financial indicators related to the third quarter of 2018 is in line with our predictions for this year and confirms the effectiveness of our strategy of continuous development of the integration of systems, as well as the relevance of our ambition of maintaining a constant innovation, either of our activity, or in terms of the partnerships we establish. As we had announced earlier this year, 2018 will be again a year of strong growth for IFTHENPAY, reinforcing both its unequivocal leadership position and our market share in Portugal”, states Filipe Moura, Co-CEO e Co-Founder of IFTHENPAY. 

"The results of the third quarter have cemented our forecast to handle more than € 418,000,000 in payments and to achieve significant growth levels in the various components of our business this year. We are certain that 2018will once again be a milestone in the history of IFTHENPAY, which in October marked its 13th anniversary of the first payment made with its multibanco references and the basis for new growth and innovation ambitions for the coming years”, said Nuno Breda, also Co-CEO and Co-Founder of IFTHENPAY. 

IFTHENPAY is a Fintech Portuguese company specialized in the emission and management of multibanco references shared for companies which are leaders in this market segment in Portugal. From Santa Maria da Feira, in the district of Aveiro, IFTHENPAY presented a business volume of €1.430.257 in 2017. With more than 11 thousand entities adhering to the service throughout the national territory and also abroad, IFTHENPAY handled a volume of payments of €312.759.800 in 2017. The company has already overpassed an accumulated total of 1 billion euros, becoming the first Fintech in Portugal to reach this value. For more information visit www.ifthenpay.com