HARRYCAT
- 15 Aug 2014 12:26
FAIRFX, a leading low cost multi-currency payments provider, is pleased to announce the admission today (5th Aug 2014) of its ordinary shares to trading on the AIM market of the London Stock Exchange and the commencement of dealings in its ordinary shares.

https://www.fairfx.com/
HARRYCAT
- 15 Aug 2014 12:29
- 2 of 54
Admission Details:
· The Company has raised approximately £2.6 million before expenses through the placing of 5,726,667 new ordinary shares (the "Placing")
· The total number of ordinary shares in issue at Admission is 67,750,628 giving the Company a market capitalisation of approximately £30.5 million, based on the placing price of 45 pence per ordinary share
· The IPO will provide the Company with capital primarily to fund its marketing programme and enhance its existing product offering and products under development, thus enabling further growth of FAIRFX which should result in an increase in the Group's share of the multicurrency payments market. Cenkos is acting as Nominated Adviser and Broker to the Company
Overview of FAIRFX
· Well placed to capitalise on the rapidly growing online multi-currency payments market
· Recognised as a leading provider of foreign exchange payments and provides transactional services to both personal and business customers
· Strong historic growth, revenue grew by 46 per cent. from £221.0 million (FY2012) to £322.4 million (FY2013)
· Gross profit also grew from £2.1 million to £2.8 million in the period FY2012 to FY2013
· Consistently top ranked for its currency card offering in respect of rates and customer satisfaction by consumer ratings companies by MoneySavingExpert.com and MoneySupermarket.com
· Partnered with Concur Technologies, Inc. a leading provider of integrated travel and expense management solutions to provide an integrated service across their two respective platforms
· 'White Label' distribution deals for the use of its P2P matching platform, including agreements with EasyJet, ThinkMoney and Pitney Bowes
Ian Strafford-Taylor, Chief Executive of FAIRFX commented, "We are delighted to have successfully listed on the London Stock Exchange and pleased with the level of support received from investors who recognise the growth potential for FAIRFX. Our decision to become a public company will allow us to enhance our profile and credibility and provide us with access to funding for our aggressive growth plans. We are looking forward to a successful future as an AIM listed company."
HARRYCAT
- 24 Sep 2014 12:56
- 3 of 54
Floated at 45p, now 72p!
Shame I had no spare cash at the time! :o(
skinny
- 24 Sep 2014 13:50
- 4 of 54
Looks interesting Harry - was it an IPO?
HARRYCAT
- 24 Sep 2014 13:57
- 5 of 54
Certainly was. I use them for currency transactions, so had a bit of a vested interest, but good to see them make a success so far.
HARRYCAT
- 21 Nov 2014 08:23
- 6 of 54
StockMarketWire.com
FAIRFX, a leading low cost, multi-currency payments provider, is pleased to announce the appointment of John Pearson as its new non-executive chairman.
Jason Drummond, the previous chairman who co-founded the Company in November 2005 and led the board through its recent successful listing on AIM, has informed the board that he has taken on the position as CEO at one of his other companies.
Consequently, he now needs to focus more of his time and attention on this role. Accordingly, he has stepped down from the board of FAIRFX to concentrate on his new duties.
Pearson has considerable experience in the digital, media and broadcast industries. He was co-founder and CEO of Virgin Radio for 13 years. He was also Chairman of Shazam Entertainment, a smartphone-based music identification service; co-founder of World Architecture News.com; and a director of Ginger Media Group. He is also co-founder of The Food.com. John's appointment is effective immediately.
Drummond will continue to advise the Company as required on its next generation of technology, including apps and website development.
Balerboy
- 23 Nov 2014 20:40
- 7 of 54
Harry, any chance of an email address to ask the odd question? mine's on mam if it's ok. :))
HARRYCAT
- 19 Jan 2015 07:54
- 8 of 54
StockMarketWire.com
Multi-currency payments provide FAIRFX Group reports strong trading in 2014 and sees substantial growth prospects for this year.
The group said multi-pay and single-pay product revenues were ahead of its expectations resulting in total gross revenues of in excess of £470m which represents growth in excess of 45% year on year.
Another 42,303 customers were added in the second half of the year, bringing the year-end total to 86,397 new customers, representing year-on-year growth of 46%. The group says this reflects the success of its continuing aggressive customer acquisition strategy, supported by increased marketing and IT spend.
Chief executiveIan Strafford-Taylor said: "A successful placing of new shares in August and again last month has added the financial firepower to enable an acceleration of our customer acquisition strategy, of both corporate and individual clients. We will continue to grow FAIRFX through a targeted increase in marketing spend allied to planned IT development.
"In addition, in 2015 we will add new locations for FAIRFX outside of the UK which will yield benefits for both customers and FAIRFX because our peer-to-peer platform enables us to disintermediate the marketplace for our back-to-back hedging and match both sides of a trade. The benefits of our stated strategy of growing customers and volumes through our platform whilst taking no FX risk were amply demonstrated last week as the removal of the Swiss Franc peg and subsequent market turmoil did not affect the business at all as we run no currency exposure.
"The compelling logic for a land-grab of customers for FAIRFX remains in place and we firmly believe that we remain the best rate and service offering in the foreign exchange market place. We remain confident that 2015 will see us achieve further strong growth in all our KPIs."
HARRYCAT
- 20 Mar 2015 08:20
- 9 of 54
StockMarketWire.com
FAIRFX, the travel money and foreign exchange specialist, has brokered a deal with Sky Media for the cross platform sponsorship of Sky Sports F1 this year. The partnership, spanning the Sky Sports F1 channel, Sky Go, Skysports.com and Sky Sports Mobile App, will commence from the first practice session at Malaysian Grand Prix on 27 March, and will run until the conclusion of the Abu Dhabi Grand Prix on 29 November.
Chief executive Ian Strafford-Taylor said: "We are delighted to have agreed this partnership with Sky Media to sponsor Formula 1, on Sky Sports. The massive global following of Formula 1, combined with the innovation and cutting-edge technology it represents is a perfect fit for FAIRFX, which uses smart digital technology to deliver better value and service to over 400,000 global travellers and holidaymakers. "As channel sponsor we will be able to reach a much wider audience for our products more quickly. We are delighted to be following in the footsteps of major brands such as Shell V-Power, Rolex and Santander and we are confident this will deliver significant benefits in terms of brand recognition and new business."
HARRYCAT
- 31 Mar 2015 07:56
- 10 of 54
Results for the year ended 31st December 2014
FAIRFX, the FinTech business specialising in low cost, multi-currency payments, announces its full year results for the year ended 31st December 2014.
Performance Highlights for 2014
· 47% increase in revenue to £475.3m (2013: £322.4m)
· 86,397 new customers added to the business, bringing the total to 404,710 (2013: 58,925 new customers)
· 62% revenue growth to £213.7m within money transfer and deliverable FX execution products; multi-payment products revenue up 38%
· 38% increase in gross margin to £3.8m (2013: £2.8m)
Post Period End (to 24th March)
· 90% growth in revenues in first 12 weeks to £143.1 million (2014: £75.1 million)
· 66% growth in customer acquisition with 21,515 new customers added, bringing the total to 426,225 (2014: 12,960 new customers)
· Became title sponsor of Sky Sports Formula 1 programming for the 2015 season
· Additional Financial Conduct Authority permissions added
Commenting on the results and outlook, Chief Executive Officer, Ian Strafford-Taylor, said:
"FAIRFX has had a strong year in 2014 and since joining AIM, our customer-focused innovation and agile technology platform have enabled accelerating growth. Against this backdrop we have enhanced the management team of the business and improved controls and compliance. As such the business combines solid foundations with the pace of a FinTech and is structured for scale.
"We look forward to delivering further growth in the coming year and continuing to meet the expectations of all of our stakeholders."
HARRYCAT
- 30 Apr 2015 07:56
- 11 of 54
FAIRFX and Hertz announce partnership
London, UK - April 30 2015 - FAIRFX, the travel money and foreign exchange specialist, is pleased to announce that it has signed a partnership with international car hire provider Hertz Europe Ltd to cross-promote each other's products to their respective customers.
The partnership will commence from 30th April 2015 and is expected to generate reciprocal benefits of accruing additional customers for both FAIRFX and Hertz whilst delivering enhanced value to their existing client bases.
Hertz will promote FAIRFX to its customers who will then have direct access to FAIRFX's market-leading prepaid currency cards, travel cash and money transfer services for consumers and businesses. In addition, Hertz customers will enjoy exclusive benefits and special offers on FAIRFX products.
In return, FAIRFX will promote Hertz, which has over 90 years' experience in vehicle rentals, to its customer base of over 400,000. As FAIRFX customers, Hertz will provide the best offers and deals on car rental worldwide as well as other benefits.
Ian Strafford-Taylor, CEO of FAIRFX Plc, commented: "We are delighted to partner with Hertz, which gives us a unique opportunity to introduce our travel money and money transfer solutions to a new audience of travellers whilst at the same time being able to offer our existing customers a great deal on car rental. We look forward to a relationship that will improve the travel experience of both Hertz and FAIRFX customers."
Carmen Gomariz, Partnership Marketing Manager of Hertz Europe Ltd, stated: "We at Hertz are pleased to be partnering with FAIRFX to give great deals on car hire to their customers and in return benefit Hertz customers with FAIRFX's market leading products. Hertz and FAIRFX share many core values including a strong emphasis on transparency coupled with excellent customer service and so we are delighted to be embarking on this journey with FAIRFX."
HARRYCAT
- 04 Jun 2015 07:35
- 12 of 54
StockMarketWire.com
FAIRFX, the FinTech travel money and foreign exchange specialist, has announced three key developments central to fulfilling its stated marketing strategy.
These are: the launch of our new TV advert, a newly designed mobile-friendly "responsive" website and significant improvements to the FAIRFX app offering, including an Apple Watch version.
The new FAIRFX television advert started airing on Monday 1st June across various channels including ITV, Channel 4 and Sky to directly address its target market and drive both brand awareness and customer acquisition. The advert focuses on FAIRFX's multi-award-winning* prepaid currency cards, to help develop its category leadership and support its future growth plans.
To maximise conversion from traffic driven to the FAIRFX website by the advert, FAIRFX has also rolled out an updated mobile friendly website. The responsive website has been designed with a focus on user experience and improving the customer journey, making it easy for customers to transact anywhere in the world.
Furthermore, FAIRFX has also launched new versions of its app which runs on both iOS and Android, together with a version designed especially for the new Apple Watch. These releases are a natural progression of FAIRFX using technology to mirror changes in customer behaviours and preferences.
HARRYCAT
- 21 Jul 2015 07:33
- 13 of 54
FAIRFX (AIM: FFX) the FinTech travel money and foreign exchange specialist is pleased to provide a trading update for the six months ended 30 June 2015.
Trading Performance
Total turnover for the six months to 30 June 2015 was approximately £310 million, an increase of in excess of 40% year on year, building on the strong growth seen in 2014.
Total new customers added in the half year were 60,495, a growth of 37% year on year bringing total customers to 465,205 as at 30 June. More importantly, given the stated strategy to focus on the acquisition of card customers in the multi-pay space, a total of 41,808 new cards were sold, an increase of 55% year on year. Given the major marketing push for 2015 started in June, the growth in the first half can largely be attributed to the momentum built in 2014.
On 1 June, FAIRFX commenced a focussed marketing campaign with the launch of a new TV advert and a website re-design that incorporated a mobile-responsive framework. Both of these initiatives were completed on schedule and June was the first month that reflected the benefits directly, with 13,018 new cards sold, an increase of over 83% year on year. This strong growth has continued into July with 7,633 cards sold as of 19th July 2015, an increase of 95% year on year. As further proof that the marketing campaign is working, a YouGov survey commissioned by the Company has shown the new TV advert helped grow brand awareness by more than 70% among UK adults and an even better increase of 88% within our core target audience of ABC1 adults(1). Furthermore, the website re-design and introduction of a mobile-responsive format have improved the conversion of traffic to new card customers by up to 57%(2).
Commenting on the performance and outlook, Chief Executive Officer, Ian Strafford-Taylor, said:
"We are delighted with our trading in the first six months and in particular the response to our marketing campaign. Our focus for 2015, as outlined in our January trading statement, was to grow FAIRFX through a targeted increase in marketing spend allied to planned IT development, and this is precisely what we have done.
"In the first half we have put in place all the pieces to drive success in our key summer seasonal sales period, including our new TV advert, a complete re-work of our website, which included making it mobile-responsive, and enhancing our mobile apps. We achieved this on schedule for a June 1st TV launch and the success of this strategy is reflected in the numbers of cards we have sold in June and July and we expect this to continue through the summer.
"The second half of the year will be dominated by continuing customer acquisition coupled with active cross selling of our other products, especially FairPay and Dealing. In addition, we will start the process of adding new locations for FAIRFX outside of the UK which will yield benefits for both customers and FAIRFX because our peer-to-peer platform enables us to disintermediate the marketplace.
"We have spoken before of the compelling logic for a land-grab of customers for FAIRFX and the performance of the business across the first half and especially in June and the first half of July have provided us with more concrete evidence of the success of this strategy."
HARRYCAT
- 26 Nov 2015 09:38
- 14 of 54
FAIRFX wins British Travel Awards' Best Foreign Exchange / Travel Money Retailer 2015
Leading travel money and currency card provider, FAIRFX has picked up the award for Best Travel Money Retailer at the British Travel Awards 2015, knocking the Post Office off its perch.
The announcement was made on 25 November at a glamorous Gala Awards ceremony, held in London and attended by close to a thousand travel industry people.
These highly acclaimed awards are selected through a public voting system and verified by Deloitte, with more than a quarter of a million people voting this year to determine the winners.
FAIRFX's win caused quite an upset as the Post Office has won this category for the past 7 years, however the public has spoken: deciding FAIRFX is now the UK's best travel money and currency card provider.
HARRYCAT
- 07 Mar 2016 07:26
- 15 of 54
Proposed Placing, strategic investment by Crystal Amber Fund and 2015 trading statement
£5.25 million investment to accelerate marketing strategy
Strong overall performance in 2015 due to focus on growing FairFX Card businesses
FairFX, the low cost multi‐currency payments service, is pleased to announce a proposed placing to raise £5.25 million (before expenses), including a significant strategic investment from Crystal Amber Fund Limited ("Crystal Amber") of £5.0 million. The Company also provides an update ahead of its full year 2015 results.
Highlights of proposed investment:
- Proposed Placing totaling £5.25 million at 20p per share from new and existing investors;
- Crystal Amber investing £5.0 million as part of the Placing;
- Conditional Issue of Warrant to Crystal Amber over 7,500,000 new Ordinary Shares;
- Strategic investment will be used to accelerate FairFX's marketing activities and aggressively target the Corporate Card segment in 2016;
- FairFX will be funded to execute its proposed marketing and organic expansion strategy; and
- Crystal Amber will hold approximately 24.24% of the enlarged issued share capital following the issuance of the Placing Shares*.
* Conditional upon the FCA Condition being satisfied as further described in this announcement.
2015 trading highlights:
- Full year 2015 turnover up 32% to approximately £625 million;
- 75,039 new currency card customers acquired during the year, up 56% on 2014; and
- Across all product segments, a total of 103,338 new customers acquired during the year, up 20% on 2014.
An explanatory circular containing a notice of General Meeting of the Company to be held at the offices of Berwin Leighton Paisner LLP, Adelaide House, London Bridge, London, EC4R 9HA on 29 March 2016 at 11.00am, will shortly be posted to Shareholders (the "Circular") and will be made available to view on the Company's website at www.fairfxplc.com/investors. Unless otherwise defined, defined terms within this announcement have the same meanings as those to be set out within the circular. Definitions are also set out at the end of this announcement.
HARRYCAT
- 11 Mar 2016 08:05
- 16 of 54
StockMarketWire.com
FairFX Group has confirmed that Crystal Amber has obtained approval from the Financial Conduct Authority over the acquisition of a qualifying holding in the group's subsidiary FairFX Plc. This follows the group's recent conditional placing with Crystal Amber.
FairFX expects to issue all the 26,250,000 placing shares in one tranche.
Crystal Amber will invest the full amount of its placing participation, being GBP5.0 million, in the company. This strategic investment will be used to accelerate FairFX's marketing activities and aggressively target the Corporate Card segment in 2016.
HARRYCAT
- 15 Apr 2016 11:09
- 17 of 54
StockMarketWire.com
Turnover at FairFX Group, he low cost multi-currency payments service, rose by 31.9% to GBP626.8 million in the year to the end of December.
Revenue was up 35.7% at GBP7.4 million and gross profit rose 31.8% to GBP5.0 million.
The group said the pre-tax loss of GBP3.4 million was in line with forecasts.
Chief executive Ian Strafford-Taylor said: "The company had a strong 2015 and delivered excellent revenue improvements by following our strategic focus on the increasing retail card customers. Maintaining our strategy of investment in marketing and technology has yielded discernable improvements in customer conversion rates and increased customer spending. Since raising significant funds in Q1 2016, the Group is now in a strong position to push forward with its focus on the corporate card market, whilst maintaining its level of activity in acquiring new retail customers.
"Despite a somewhat weaker macro environment during Q1, our underlying customer base is performing strongly. Spending on retail cards is up 25% on Q1 2015 with top-ups of existing cards also showing growth. In addition, overall customer activity has picked up in recent weeks and we have some exciting deployments of new technology scheduled before our peak summer season. Accordingly, we are confident the Group remains in line with market expectations for the full year."
HARRYCAT
- 08 Jun 2016 08:05
- 18 of 54
StockMarketWire.com
FairFX, the FinTech low-cost multi-currency payments service, has extended its international payments service into the domestic South African market through a tripartite agreement with Morgan West Ltd and Mercantile Bank.
Services providing foreign exchange into South African Rand (ZAR) to send into South Africa are widely available. Converting ZAR into other currencies for movement out of South Africa is more challenging and demands a local footprint, which FairFX now offers.
Under this new service, customers will have access to FairFX's telephone dealing desk, where a personal account management service will support them when transferring funds both to and from South Africa.
FairFX says it offers highly competitive rates in the ZAR market, which are significantly better than those of domestic banks. It says someone transferring ZAR 500,000 could save up to ZAR 10,000 by using FairFX's service. In addition, through its tripartite agreement with Morgan West and Mercantile Bank, FairFX is able to provide a range of services to customers, including applications for foreign tax clearance certificates and special SARB approval support. FairFX will now look to expand its presence in South Africa further through delivering a full-service offering, including currency cards.
HARRYCAT
- 10 Jun 2016 08:15
- 19 of 54
StockMarketWire.com
FairFX, the FinTech low-cost multi-currency payments service, won the Moneywise award for most trusted prepaid card provider at a ceremony in London last night. The company was selected over competitors in the prepaid card space such as Travelex, Thomas Cook and the Post Office.
In a vote by customers and Moneywise readers, the awards recognised the UK's most trusted and best-respected companies.
There were 64 businesses that reached the final awards shortlist, with the winners being selected from hundreds of thousands of customer responses.
The award comes directly after FairFX has announced its expansion into the South African market, where it looks to deliver a full-service offering, including currency cards.
Chief executive an Strafford-Taylor said: "It's incredibly gratifying to win this "most trusted" award, especially as it is voted for by customers. FairFX strives to provide the best customer experience it can by understanding people's needs and providing the fairest rates on money exchange. We look forward to building on this success and continuing to deliver a superior offering for all our customers."
HARRYCAT
- 20 Jun 2016 07:53
- 20 of 54
StockMarketWire.com
FairFX, the FinTech low-cost foreign exchange provider, has signed an agreement with Holiday Extras to mutually promote each other's products.
Holiday Extras is the UK market leader for booking travel extras - including airport hotels, travel insurance, parking and lounges as well as destination car hire. Holiday Extras processes in excess of 4 million transactions a year with the vast majority being online.
FairFX believes that Holiday Extras represents an ideal partner for the company due to the shared objective of improving customer experience through innovative technology, a broad product range and highly competitive pricing. Under the agreement FairFX will promote Holiday Extras products with exclusive benefits for FairFX customers.
In return Holiday Extras will promote FairFX products to its customer base. The average lead-time between a typical Holiday Extras customer booking a product and their departure date makes the partnership a strong strategic fit and will enable FairFX to reach more consumers in a targeted fashion.
HARRYCAT
- 27 Jun 2016 08:03
- 21 of 54
StockMarketWire.com
FairFX, the FinTech low-cost currency provider, delivered a record week in terms of KPIs during the final stages of the UK referendum, with revenue up 30% on the previous record week achieved in July 2015 and up over 50% on the corresponding week in June 2015.
Against this background of record volumes, FairFX's platform and IT systems remained fully operational throughout the last few days of the Referendum when some peers did not accept business, underlining the robustness and scalability of the Company's IT systems and processes.
The company has also experienced an exceptionally busy period throughout June and as such is cautiously optimistic about the immediate prospects for trading volumes. The Company will update the market further with its trading statement in July.
Chief executive Ian Strafford-Taylor said: "I am immensely proud of what we achieved last week during the busiest period in our history. Our infrastructure enabled us to carry on providing our services to customers through the whole process, whilst we also had people in place 24/7 to constantly update our rates and ensure minimal FX risk. To come through this period with a record week only goes to emphasise how resilient and scalable our business model has become."