Diversification and market demand drives success at e-money group

E-MONEY business Contis Group has posted successful results as it embarks on an “aggressive” growth plan which includes further expansion in the UK and Eastern Europe.

The Skipton-based business said this follows a period of corporate expansion and diversification, supported by continued demand from the growing global prepaid market and the addition of new products and services.

The Yorkshire company provides online banking and pay-as-you-go services to major banking, financial services and retail clients and said it has built upon its platform and licensing developments, which gave Contis total end-to-end ownership of all implementation and programme management processes including an E-Money License covering all EU states and Principal Membership of Visa, to successfully position its flagship divisions.

The firm employs 40 people in the UK and 51 in India. Turnover is expected to be at £4.4m for the current financial year and management is forecasting further growth of 147% for the financial year ending March 2015. 

Peter Cox, executive chairman of Contis Group, said: “We have an aggressive growth plan for the next five years which includes further expansion in the UK and Eastern Europe, following the launch of our Baltic HQ in Latvia. This activity will focus on Scandinavia, the Baltics and the CIS region where there is a proven demand for our bank-like card-based solution. Through our in-house development team we are continuing to deliver innovative products and services across a range of vertical markets and to further refine our current financial services offering which continues to demonstrate its ability to deliver the services associated with traditional banking to people across Europe.

“This aggressive growth will require additional funding and we are working to secure a significant capital inflow which will place us in an even stronger position to take advantage of the rapidly growing prepaid sector and the ground swell of opportunities being presented to the group.”