Irish payments group Fexco enjoys 8% rise in income

Irish financial services company Fexco saw its income rise by 8 per cent to €193 million last year, the group’s latest results indicate.

The Killorglin, Co Kerry-based fintech said the performance was “supported by robust commercial growth and continued investment”.

The payments group now employs over 2,800 people in 50 countries. It recently acquired Sainsbury’s Travel Money “to strengthen its position in the UK retail foreign exchange market”.

The company’s latest results show its operating profit before specific items rose marginally to €22.4 million in 2024, up from €22.3 million previously.

In addition to investments in technology and product development, Fexco said it continued to expand in the Asia-Pacific region, Latin America and Middle East regions, “securing key new business wins across its dynamic currency conversion (DCC) businesses.

“2024 was a strong year for Fexco, with solid financial results, a growing customer base, and important strategic progress,” Fexco chief executive Neil Hosty said.

“We continued to invest in our platforms, our people, and our products, strengthening our position in the markets we serve. Our ongoing success is built on the commitment of our employees operating across more than 50 countries ,” he said.

“As we look ahead, we’re focused on innovating and expanding into new markets to create long-term value for our customers and stakeholders,” he said.